What Do You Need To Know Before Buying Commercial Vehicle Insurance?

Did you know most commercial vehicles are covered by more than one type of insurance? If you’re looking to buy commercial vehicle insurance, it’s imperative to understand the difference between these types of coverage. Here are few crucial tips that will help you understand what type of coverage you need to protect your company!

What Vehicles are covered on a Commercial Insurance Policy?

Commercial vehicle insurance policies typically cover a range of vehicles, including commercial vehicles such as buses, trucks, and vans. The type of vehicle, the coverage, and the amount of coverage vary depending on the policy. Typically, commercial vehicle insurance policies will cover: 

  • The vehicle itself
  • The driver and passengers inside the vehicle
  • Any cargo or payload that is transported in the vehicle
  • Any damage to the vehicle or its contents that is caused by an accident
  • The cost of any repairs necessary to fix the vehicle or its contents after an accident

How Much Does This Cost?

When shopping for commercial vehicle insurance in Texas, the first thing you need to do is calculate your total monthly premiums. This will give you an idea of the cost of coverage that you are looking for. 

The cost of commercial vehicle insurance can vary depending on your driving history, types of coverage you require, and the company you choose to insure your vehicle. To get an accurate estimate of your monthly premiums, it is important to talk to a few different companies and compare rates.

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Keep in mind that not all insurers offer discounts for business owners or large fleets. Make sure to ask about any available discounts before making a decision.

Which Companies Offer the Best Prices?

When you’re shopping for commercial vehicle insurance, it’s important to compare prices. The best companies offer competitive rates that will save you money. Here are three tips to help you find the best rates:  

  1. Research the different types of coverage available. You’ll want to make sure you have the right coverage for your business. 
  2. Compare rates based on age and type of vehicle. Older vehicles tend to be more expensive to insure, so be sure to consider this when comparing prices. 
  3. Check with your state’s department of motor vehicles (DMV) to see if any discounts are available. Many states offer discounts for large businesses or those who carry comprehensive coverage.

What Do I Need To Cover on My Policy?

When you buy commercial vehicle insurance, you’ll want to make sure that you understand what you need to cover on your policy. Buying the right policy can save you money in the long run, so it’s important to do your research first. Here are a few things to keep in mind:

  1. Collision coverage: If your vehicle is involved in a collision, your policy will usually cover the costs of repairing or replacing the damage done to the other vehicle.
  2. Comprehensive coverage: This covers any damage that happens to your vehicle while it’s in use, such as vandalism or theft.
  3. Loss of use coverage: This provides financial assistance if you’re unable to use your vehicle for any reason, such as a broken down engine.
  4. Personal injury protection (PIP): This covers you and any passengers in your vehicle if they are injured in a crash. PIP typically pays for 80% of your medical expenses, up to a certain limit.
  5. Uninsured/under insured motorist (UM) coverage: This protects you from losses if someone who doesn’t have insurance crashes into your vehicle and then claims damages from their own insurance company. UM coverage can help offset the costs of injuries and repairs in the event that you’re hit by an uninsured driver.
  6. Under-insured motorist (UIM): This coverage protects you against injuries and damages to property caused by an insured driver who is driving without adequate insurance. The minimum amount of your own insurance policy’s liability limits must cover your injury or damage claims.
  7. Loss of use: This covers loss of use if you can’t drive your vehicle because it has been destroyed, vandalized, stolen or damaged beyond repair.
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Other Options for Coverage

Commercial vehicle insurance is different from personal vehicle insurance. Commercial vehicle insurance covers the equipment and cargo being transported, not the driver or owner of the vehicle. The policy may cover liability, collision, comprehensive, and roadside assistance.

Here are some other things to consider when purchasing commercial vehicle insurance: 

– Make sure you are covered for what you need. Many policies only cover certain types of accidents, so be sure to read the policy carefully.

– Compare rates and coverage. There are a variety of options available, so it’s important to find one that fits your needs and budget.

– Plan ahead. Know what will happen if your vehicle is damaged or stolen while in transit. Have copies of all documentation related to your shipment ready in case of an accident or theft.


Buying commercial vehicle insurance is a big decision, and there are a lot of factors to consider before making the decision. In this article, we will cover some of the key points you need to know before buying commercial vehicle insurance. We hope that by reading this article, you will have a better understanding of what is required in order to get the right policy for your business.