Affordable Florida Commercial Auto Insurance

What is commercial auto insurance?

Like your personal auto insurance, commercial auto insurance is coverage and protection for a leased vehicle and the name of the business and/or organization that owns it. Commercial auto insurance is there to protect your company vehicle, your employees, and other assets that come along with business ownership. There are many scenarios which can occur where you want to make sure you are covered with commercial auto insurance. Having commercial auto insurance can protect companies from financial losses if their company vehicle causes injury or property damage during an accident. Commercial auto insurance is there to protect your business and provide high limits of accountability and many other financial benefits to help fight claims in court.

What is considered a commercial vehicle?

Commercial vehicles across the United States come in many different sizes and models, including the most recognizable semi-truck or tractor trailer rig. Vehicles such as sedans, vans, buses, taxis, trailers, and coaches also can be classified as a commercial vehicle. Individuals who may possess a profession as a taxi, truck, and/or bus drivers (or any professions which may require its drivers to transport clients and/or customers in a vehicle) are required to obtain a commercial drivers license.

In the state of Florida, according to the Florida statute 320.01(26) defined on flsenate.gov, a commercial motor vehicle is defined as a vehicle which is not owned or operated by a governmental entity, which uses special fuel or motor fuel on the public highways, and which has a gross vehicle weight of 26,001 pounds or more, or has three or more axles regardless of weight, or is used in combination when the weight of such combination exceeds 26,001 pounds gross vehicle weight.

What qualifies your automobile for commercial auto insurance?

There are many factors which determine whether a vehicle is qualified for commercial auto insurance. Whether you own small cars/SUVS, pickup trucks, or box trucks to keep your business running, commercial auto insurance can give you the protection you need.

• The title of the automobile is placed in the name of the company or corporation.
• The vehicle is used for business purposes but is in an individuals name such as sole proprietor.
• The vehicle is a leased vehicle and in the name of the financial institution that owns it.
• The vehicle exceeds a certain weight of class and therefore is classified as commercial even though it may not be commercially used or commercially owned. A rate rating of 26,001 pounds or more is always considered commercial.
• Commercial auto insurance covers a variety of vehicles that you may rely on to serve your customers. Often times, these vehicles include trucks such as: Garbage trucks, dump trucks, flatbed trucks, box trucks, tank trucks, tow trucks, front loader trucks, and semi-trucks.
• Additional vehicles include: vans, cargo vans, SUVs, and cars.

How are commercial vehicles classified?

In the United States, commercial vehicles that operate on our highways are classified and divided into classes based on the gross vehicle weight rating (GVWR). The GVWR, or the gross vehicle weight rating, defined by DMV.org is the absolute heaviest your particular commercial vehicle can be when its loaded. When the vehicle is produced, the manufacturer determines the maximum acceptable weight limits by estimating the combined weight bearing components. This may include the axles of the vehicle and weaker components such as the vehicle body, suspension, frame, and tires. The GVWR is a safety standard used to prevent overloading of cargo and other business related components. The GVWR includes the weight of:

• The Vehicle
• The Trailer(s)
• The Cargo
• All Passengers
• The Fuel

Based on the GVWR, these vehicles are categorized and divided into eight classes which range from light duty to heavy duty variants. Commercial trucks are always identified as vehicles associated with classes 6 through 8. Even though vehicles under the one through six class range are not automatically classified as a commercial vehicle, commercial auto insurance will apply to any class ranked vehicle if the vehicle is in use by any business regardless of ownership.