If you own a commercial vehicle in Georgia, you’ll need to purchase commercial auto insurance. This type of insurance provides coverage for damages and losses that may occur while your vehicle is being used for business purposes. There are a few different options available when it comes to commercial auto insurance in Georgia, and the rates can vary depending on the level of coverage you choose.
This article discusses some tips to help you get the best business auto insurance policy for your needs.
Table of Contents
- What Is Considered a Commercial Vehicle In Georgia?
- How Do You Determine If You Need Commercial Vehicle Insurance?
- Why Commercial Auto Insurance Is Important
- How Does Commercial Auto Insurance Work In Georgia?
- What Does Commercial Auto Insurance Cover In Georgia?
- Minimum Requirements For Commercial Auto Insurance In Georgia
- How Much Does Commercial Auto Insurance Cost In Georgia?
- Top Commercial Auto Insurance Providers In Georgia
- Find The Right Commercial Auto Insurance In Georgia
What Is Considered a Commercial Vehicle In Georgia?
In order to be considered a commercial vehicle in Georgia, the vehicle must be used for business purposes. This includes vehicles that are used for transporting goods or passengers and any vehicles used for business-related activities such as sales or deliveries. Suppose you use your personal vehicle for any business activity. In that case, it will not be covered by your personal auto insurance policy, and you’ll need to purchase a commercial auto policy.
If you or your employees use a vehicle for business tasks such as the ones below, it can be considered a commercial vehicle:
- Driving customers to and from the airport
- Making in-person sales calls
- Shopping for business office supplies
- Delivering food, mail, or other products
- Being a chauffeur, taxi, or limousine service provider
- Towing vehicles or equipment
- Trucking freight
- Transporting hazardous materials
How Do You Determine If You Need Commercial Vehicle Insurance?
If you’re unsure if you need commercial vehicle insurance, here is a quick review of who could benefit from it. In general, a vehicle that is used in an owner operator’s business tasks other than commuting, will need a commercial vehicle policy.
Commercial Vehicle Insurance May Be Necessary If You:
- Transport people or goods for money
- Conduct a business service with your vehicle
- Need high liability limits due to the nature of your business
- Tow a trailer or transport a heavy weight of tools and equipment
- Employees operate your vehicle and if ownership is in the name of a corporation or partnership
Why Commercial Auto Insurance Is Important
Commercial auto coverage is an important type of coverage for businesses because it can help to protect your company from financial losses. If one of your employees gets into an accident while driving a company vehicle, commercial car insurance will help cover the cost of any damages or injuries that occur.
This type of insurance is also necessary because it can help to protect your company’s vehicles from damage or theft. If your business owns a fleet of vehicles, commercial insurance coverage can help ensure that you can replace them if they’re ever damaged or stolen.
How Does Commercial Auto Insurance Work In Georgia?
In Georgia, commercial car insurance works in much the same way as personal auto insurance. The main difference is that commercial auto insurance policies are designed to cover vehicles that are used for business purposes.
There are a few different types of coverage that are available under a commercial auto insurance policy, and the amount of coverage you’ll need will depend on the type of business you have.
Some of the most common types of coverage include liability coverage, collision coverage, comprehensive coverage, bodily injury coverage, property damage coverage, uninsured motorist coverage, and hired auto coverage.
Liability coverage will help cover the cost of any damages or medical expenses that occur if one of your employees gets into an accident while driving a company vehicle.
Collision coverage will help cover the cost of repairs if your company’s vehicles are damaged in an accident.
Comprehensive coverage will help cover the cost of repairs if your vehicles are damaged by something other than an accident, such as a fire or theft.
Bodily injury coverage will help cover the expenses related to medical injuries to others (not including yourself) if you are responsible for the accident. It also may help cover legal costs if you are sued for damages.
Property damage coverage will help cover repair costs for damage to another person’s car or property resulting from the accident.
Uninsured motorist coverage will help financially protect you from irresponsible drivers. If an at-fault driver doesn’t have enough liability coverage or leaves without giving you any information, uninsured motorist coverage will help cover your car repair, lost wages, or medical expenses.
Hired auto coverage will cover you or your employees when driving a rented, leased, or borrowed vehicle for business.
What Does Commercial Auto Insurance Cover In Georgia?
A commercial insurance policy in Georgia typically provides coverage for damages and losses that occur while the vehicle is being used for business purposes. This can include coverage for accidents, theft, and vandalism. Most policies will also provide coverage for damage caused by weather events or natural disasters.
Minimum Requirements For Commercial Auto Insurance In Georgia
The minimum requirements for policy limits in Georgia are:
- $25,000 for bodily injury per person,
- $50,000 for bodily injury per accident, and
- $25,000 for property damage.
However, it’s important to note that these are the minimum requirements. You may need a more comprehensive policy depending on the type of business you’re running and the value of your vehicle.
How Much Does Commercial Auto Insurance Cost In Georgia?
The cost of commercial auto insurance coverage in Georgia will vary depending on a number of factors, including the type of vehicle you are insuring and the level of coverage you choose. However, the average cost of commercial auto insurance in Georgia is $1,200 per year.
Top Commercial Auto Insurance Providers In Georgia
Some of the top commercial auto insurance providers in Georgia include:
- State Farm
- The Hartford
Get a free quote from these and other leading commercial auto insurance providers to find the best rates and coverage for your business.
Find The Right Commercial Auto Insurance In Georgia
Commercial auto insurance is essential for any business that owns one vehicle or a fleet of vehicles. Entrepreneurs understand the importance of having a commercial policy, but the cost may be intimidating to some, and the search can get tedious. The best way to find commercial auto insurance coverage in Georgia is by using an online quote tool that enables you to compare rates and coverage from multiple insurers at once.
Insurist makes it easy for a business owner to find the best insurance products for various purposes at the best prices.