To make your search for the best commercial car policy companies in Florida a little easier, we ’ ve put together a list of the lead 7 companies. Each of these companies offer speciate options for businesses in different circumstances .
Top 7 Commercial Auto Insurance Companies in Florida
We researched more than 15 companies offering commercial car insurance in Florida and here are our recommendations of the 7 best companies for your consideration :
- CoverWallet: Best for Comparing Online Quotes
- Progressive: Best for Delivery/Rideshare Drivers
- Farmers Insurance: Best Customized Policies for Small Businesses
- The Hartford: Best for Midsize to Large Companies
- Travelers Insurance: Best for Oil & Gas Industry
- Geico: Best for Businesses Small & Large
- Nationwide: Best for Reputation
CoverWallet: Best for Comparing Online Quotes
If you want to compare respective commercial car policy quotes online handily, just like you are used to for personal car policy, your best option is CoverWallet. They are a digital broker and work with several business insurance companies .
once you provide your data, they will be able to pull quotes from their spouse companies so that you can compare them in one place .
After buying a policy through them, you will be able to use their digital splashboard to manage all of your business indemnity policies in one set. The dashboard besides offers useful features such as downloading the certificate of insurance, filing a claim, or renewing a policy .
Progressive Commercial Auto Insurance: Best for Delivery/Rideshare Drivers
If you are an independent delivery driver or participate in a rideshare program, consider getting extra coverage through Progressive. They have a rideshare indemnity policy that covers drivers in most states who pick up riders and who provide manner of speaking services. This coverage is designed to fill the gap between your personal policy and what your delivery company may provide .
Protgressive besides offers a dismiss when you opt to bundle your indemnity with a home or renter ’ mho insurance policy .
We used a fabricated delivery avail to pull a quote from Progressive ’ s web site for commercial car indemnity. The initial down payment was $1,072 and the monthly premium was $358 thereafter .
Farmers Commercial Auto Insurance: Best Customized Policies for Small Businesses
If you are a small clientele owner with just one or two company vehicles, you might want to look into Farmers Insurance. They provide low-cost policies with plenty of customizable features. You can get indemnity to cover stolen items that are taken from a park fomite, or set up spoilage policy for your restaurant .
Farmers besides provides discount options, like their sign platform that monitors your drive and lower their rates based on it .
The Hartford Commercial Auto Insurance: Best for Midsize to Large Companies
If you are a larger company with a small to big fleet of vehicles, The Hartford is a capital option. Established in 1810, this insurance company has spent hundreds of years refining their services. They prefer setting up commercial car policies with clients who have early commercial policy policies through them. But, if your fleet is large or you need a properly total of coverage they may be able to help you with a single-line policy .
The Hartford besides offers programs to improve condom for customers and their drivers. For exemplify, their FleetAhead program integrates risk management with technology to analyze and interpret driver performance data .
Travelers Commercial Auto Insurance: Best for Oil & Gas Industry
If you are having a little trouble oneself finding insurance coverage for trucks or vehicles that you use in the oil, accelerator, or public sectors, check out Travelers. For more than 30 years, they have been insuring fleets in these industries. Many of their policies are besides written directly with the oil and gas diligence in take care. They offer a assortment of policies, including business car coverage and oil rig and equipment coverage .
Geico Commercial Auto Insurance: Best for Businesses Small & Large
A identical long-familiar name in the car insurance diligence, Geico is able to provide coverage for those in a wide rate of industries and at different levels of business. You can obtain policy for cars, vans, and trucks. They besides offer a rideshare course of study for autonomous drivers who participate in programs like Uber. Gieco can besides provide forte policy for towing and construction vehicles .
Nationwide Commercial Auto Insurance: Best for Reputation
If you are searching for a commercial car ship’s company with an faultless reputation and fiscal rating, the answer is Nationwide. They boast an A+ rat from A.M. Best and Standard & Poor ’ second. Plus, they have been serving customers for about a hundred now .
Nationwide besides offers the vantage 360 Fleet program, which is another risk management platform that allows businesses to monitor driver safety. If your party enrolls in this program you ’ ll get a 10 % deduction on your commercial car policy .
> > MORE : top 10 commercial Auto Insurance Companies for Small Businesses
Why Should Companies Get Commercial Auto Insurance in Florida?
It ’ sulfur important to get commercial car indemnity for your caller as an accident can cost you a set of money. If you don ’ deoxythymidine monophosphate have policy, you ’ ll be the one who ends up being responsible for any medical bills and property damage repairs. It ’ randomness besides likely that you will face fines, loss of your license, and likely jail clock time for not having required commercial car policy .
besides, a holocene study by the Insurance Research Council found that equitable over 20 % of Florida ’ s drivers aren ’ triiodothyronine covered by policy. That means 1 in 5 people on the road with you don ’ t have coverage to pay for wrong to your vehicle and your bodily injury costs ! so, it besides pays to have extra commercial car indemnity that protects you in sheath of an uninsured driver. These coverages can include :
- Uninsured motorist coverage
- Collision insurance
> > MORE : commercial Auto Insurance : coverage, Costs, and Quotes
What Isn’t Covered By Commercial Auto Insurance in Florida?
A basic cable car insurance policy doesn ’ t cover everything. so, be certain to read your policy before any accidents happen to thoroughly understand what your indemnity will cover in an accident. generally, commercial car policy policies won ’ metric ton cover :
- Intentional Damage or Bodily Damage: Your policy won’t cover any damage that was caused on purpose, such as ramming into another person’s car when they steal your parking spot.
- Medical Payments Covered by Workers’ Compensation: If your company delivers gravel and a worker is injured when a driver accidentally drives over his foot, this would most likely be covered by workers comp.
- Cargo Damage: Most policies don’t cover the costs of replacing or cleaning up lost or damaged cargo your company carries. For instance, if you are a moving company and a customer’s dining room table is scratched up during transport, this is more likely to be covered by household goods moving insurance.
Is Commercial Auto Insurance Required in Florida?
Companies are required to carry commercial car policy on their vehicles in Florida. Every state has certain minimum coverage requirements that companies must carry for bodily wound and property price. Florida ’ s indemnity minimums are lower than many early states, which can give companies a sting of a interrupt on premiums .
There are lots of different kinds of commercial vehicles, so lashkar-e-taiba ’ s take a look at some minimums required for everyone and a few extra coverages depending on your industry .
All drivers in Florida are required to carry :
- $10,000 bodily injury coverage per person
- $20,000 bodily injury per accident
- $10,000 for property damage
If you are driving a vehicle registered as a taxi, you must carry much higher coverage of :
- $125,000 bodily injury liability per person
- $250,000 bodily injury liability per occurrence
- $50,000 property damage liability coverage
besides, the state of Florida and the Federal Motor Carrier Safety Administration ( FMCSA ) have extra coverage requirements for cargo and ship vehicles. If you are only transporting goods in Florida, minimums for commercial hauling indemnity are :
- $300,000 minimum liability insurance for household goods
- $750,000 minimum liability insurance for general freight
- $1,000,000 liability for oil transport
- $5,000,000 liability for hazardous materials
commercial trucks that haul cargo across department of state lines will need even more coverage to meet FMCSA minimum coverage requirements, which can range between $ 300,000 to $ 5,000,000 liability.
Should Delivery Drivers Carry Commercial Auto Insurance in Florida
It ’ south decidedly a good idea to look into commercial car insurance if you work as an independent delivery driver. many people are delivering orders for companies, like DoorDash and GrubHub, full-time these days. If you are using your personal vehicle for this kind of cultivate, you ’ ll probable besides be expected to provide your own car insurance .
Although some companies, like DoorDash, PostMates, and UberEats, do provide a commercial car indemnity policy for drivers, these policies are typically ‘ excess ’ policies that only kick in when the driver ’ s personal car indemnity maxes out of its limits. besides, if you don ’ deoxythymidine monophosphate carry personal insurance, the company ’ second car indemnity won ’ thyroxine breed you either .
other manner of speaking services, like GrubHub and Instacart, don ’ thymine provide commercial car indemnity for their drivers. indeed, make sure you get some extra car insurance to protect yourself. In such case, you would need to have your own commercial car policy or an attach passenger to your personal car indemnity to cover your commercial use of your car .
> > MORE : Best delivery Driver Insurance Companies
What Factors Affect the Premiums for Commercial Auto Insurance in Florida?
not all companies will pay the lapp amount for their commercial car indemnity. There are different factors that will affect your indemnity premiums, such as your former car claims history and drive record .
here are some factors your indemnity ship’s company will take into score when calculating a commercial car policy quote in 2021 :
- Vehicle Use, such as taxi service, cargo shipment, or simply providing a company car to an accountant on staff.
- Distance Driven, such as how far you drive every day or how frequently the vehicle is used.
- Vehicle Location, like where the vehicle is stored when not in use and where you drive it.
- Claims History; can include any previous accidents, and settlements.
- Cargo Type; if you transport hazardous materials, you’ll pay a lot more for insurance.
- Coverage Limits: the higher your coverage amount, the more your premium will cost.
- Deductibles; if you opt for a lower deductible, you’ll also end up paying more for insurance.
How Much does Commercial Auto Insurance Cost in Florida?
As you see above, commercial car insurance costs depend on respective factors. however, on average, a commercial car policy policy in Florida costs about $ 2,565 and $ 3,370 in one of our studies .
To get cheap commercial car policy, be sure to shop around with a few policy companies or with a digital agent like CoverWallet to compare several quotes to find the cheapest one for you :
> > MORE : How a lot does commercial Auto Insurance Cost by States ?
How to Find Cheap Commercial Auto Insurance in Florida?
commercial car policy is required legally in Florida. not having it might put you in a difficult side when accidents happen. In some cases, your company might be bankrupt and you might be jailed as a leave .
The good news is that it is potential to find cheap commercial car insurance by following the tips below :
- Always shop around with at least 3-5 providers or a digital broker such as as CoverWallet to compare several quotes before deciding on the final carrier
- Maintain a good driving record and credit score, that will help decrease your commercial auto premiums
- Maintaining your commercial auto insurance coverage steadily. If you have gaps in your commercial auto insurance coverage, your premiums might increase as a result
- Lastly, if the carrier offers telematics monitoring to reduce the premium as a result of your good driving record, you might want to opt in that program.
> > MORE : How to Find Cheap Commercial Auto Insurance ?
Final Thoughts
- Many insurance companies offer commercial auto insurance, such as Farmers Insurance, Geico, and Travelers Insurance. If you like to compare several online quotes conveniently, you might consider CoverWallet
- Florida does require companies to carry commercial auto insurance for all of their vehicles.
- Florida also has different minimum coverage requirements for vehicles in different industries, from taxis to cargo shipping.
- Commercial insurance doesn’t cover intentional acts or damage, damage to cargo, and payments that would be covered by workers’ compensation.
- Different factors also affect the cost of commercial auto insurance, such as coverage limits, deductibles, and claim history.
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