Indiana Commercial Vehicle Insurance
Get a full analysis of Indiana commercial vehicle insurance costs, coverages & companies.
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Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Find the Best Commercial Vehicle Insurance Rates & Companies in Indiana
Locally-owned companies are thriving in the Hoosier state, but the financial risks of running a business increase significantly when company vehicles are part of the equation. Accidents do happen, and when they do, liability expenses can potentially bankrupt a company that's not properly insured. Commercial vehicle insurance can protect your business from financial ruin and is mandated by state law in Indiana.
Fortunately, an independent insurance agent in Indiana can quickly help your business get covered, fast. They'll help you find the right policy at the best available rate. But for starters, here's a breakdown of Indiana commercial vehicle insurance.
Best Commercial Vehicle Insurance Companies in Indiana
Top-quality coverage can only come from the best commercial auto insurance companies in Indiana. To help you save time in getting your business equipped, we've put together a list of some of our top recommendations for business auto insurance in Indiana. Start by checking out these outstanding carriers:
- Progressive: Progressive is an excellent insurance company that offers commercial auto insurance along with many other personal and business coverages. The carrier has solid financial strength and offers 24/7/365 customer service.
- Travelers: Travelers is a longstanding insurance company that offers commercial vehicle policies and many other types of personal and business insurance. The carrier has excellent AM Best and Better Business Bureau (BBB) ratings, provides numerous discount options, and has great customer feedback.
- Westfield: Westfield has been in the industry since 1848 and offers commercial vehicle policies and several other kinds of business and personal insurance products. The carrier is one of the largest insurance providers in the US and has excellent ratings from AM Best and the BBB.
- Liberty Mutual: Liberty Mutual is another longstanding insurance company that offers commercial auto insurance along with tons of other business and personal products. The carrier is also a Fortune 500 company that offers 24/7 claims reporting and holds excellent ratings from AM Best and the BBB.
An Indiana independent insurance agent can help your business find a policy from one of these top-rated carriers.
What Commercial Vehicle Insurance in Indiana Can Cover
Your Indiana commercial auto insurance policy must satisfy the state's minimum coverage requirements. Look for these types of coverage to possibly be included in your Indiana commercial vehicle insurance:
- Liability insurance: This covers any costs related to property damage or bodily injury your business causes a third party with a company vehicle.
- Collision insurance: This covers costs related to any damage to your business vehicles from a collision with another driver, regardless of fault.
- Medical payments insurance: This covers any costs related to medical treatments if a company driver or their passengers get injured in an accident while using a company vehicle for business purposes.
- Comprehensive insurance: This covers costs for damage to your business vehicles due to a non-collision event such as a flood or theft.
- Uninsured/underinsured motorists insurance: This covers any costs related to accidents involving other drivers who don't carry enough or any car insurance of their own to pay for their portion of the expenses.
Your business must secure the right commercial vehicle insurance in order to fully complete Indiana commercial vehicle registration. An independent insurance agent in Indiana can help you find enough coverage to satisfy Indiana's requirements.
How Much Commercial Vehicle Insurance Is Required in Indiana?
Indiana commercial vehicle regulations must be understood by responsible business owners. Make sure your business's commercial auto policy comes with the following types and amounts of coverage:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required for businesses with company vehicles in Indiana.
- Property damage liability insurance: Coverage of at least $25,000 per incident of property damage liability coverage is required for businesses with company vehicles in Indiana.
The basic commercial auto insurance requirements in Indiana are 25/50/25. Keep in mind that Indiana commercial vehicle enforcement requires your business to have at least this much coverage in each category to avoid fines and other penalties.
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What Commercial Vehicle Insurance in Indiana Will Not Cover
Some incidents are excluded by commercial auto insurance in Indiana. Possible exclusions to be aware of are:
- Damage to company vehicles from environmental pollutants
- Intentional damage or injuries caused by company drivers and employees with company vehicles
- Employee injuries that are covered by a workers' compensation policy
- Accidents caused by company drivers who were intoxicated
Your Indiana independent insurance agent can review your business's policy with you to point out its specific coverage exclusions.
Average Cost of Commercial Vehicle Insurance in Indiana
The cost of your business's commercial auto insurance in Indiana varies depending on a number of factors. These can often include:
- How often all company vehicles are used
- The driving history of any employees who use company vehicles
- Your business's size, annual revenue, and location
- The kind of coverage in your policy
- Your company's claims history
An independent insurance agent in Indiana can help your business find the most affordable coverage available that still satisfies state requirements.
Popular Questions about Indiana Commercial Vehicle Insurance
Yes, if your business has company vehicles, you'll need commercial auto insurance in Indiana. Having the right coverage can help your business avoid state penalties like fines.
Indiana state law does require businesses that use company vehicles to be insured. Your business will need commercial auto insurance that meets Indiana's minimum coverage requirements to avoid any penalties.
In Indiana, commercial auto insurance must include bodily injury liability and property damage liability coverage at a minimum. However, you can customize your business's policy to include additional coverages such as medical payments and more.
Indiana state law requires businesses to have at least $25,000 worth of bodily injury liability coverage per person and $50,000 per accident. Property damage liability coverage is required in the amount of $25,000.
Yes, commercial vehicle insurance is tax-deductible in Indiana. Businesses in Indiana can claim their commercial auto insurance premiums as a business expense.
In Indiana, commercial auto insurance must cover at least bodily injury liability and property damage liability. But what your business's specific policy covers depends on the types of coverage you choose to put into it.
The cost of commercial auto insurance in Indiana can vary based on a number of factors. These can include things like your business's location, annual revenue, and the number of vehicles that must be insured.
Indiana independent insurance agents can pull quotes and shop and compare policies from multiple commercial vehicle insurance carriers in your area. They'll ultimately get you matched to a policy that offers the best blend of coverage and cost. Better yet, your agent can help your business file claims down the road and update your coverage as necessary.
https://www.insureon.com/states/indiana-business-insurance