Arkansas Commercial Vehicle Insurance
Get a full analysis of Arkansas 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 Arkansas
Whether your Little Rock business delivers pizzas, your Fayetteville company transports construction equipment, or you own a Fort Smith taxi service, finding a commercial vehicle insurance policy that meets your Arkansas business needs is a must. Before you search for commercial vehicle insurance quotes, however, there are several factors to consider.
First, you, as the business owner, must understand the types and amounts of commercial auto insurance coverage mandated by Arkansas state law. Failure to secure the minimum required coverage could result in penalties for your business, such as fines or forced suspension of business operations.
Fortunately, an independent insurance agent in Arkansas can help you get set up with the right commercial vehicle insurance. They'll get you matched to the right policy fast. But first, here's a closer look at Arkansas commercial vehicle insurance.
Best Commercial Vehicle Insurance Companies in Arkansas
Whether you're looking for cheap commercial auto insurance in Arkansas or coverage of the highest quality, it's helpful to know where to start your search. We've put together a list of a few of our top recommendations for the best Arkansas commercial auto insurance carriers for your convenience.
- Nationwide: Nationwide sells commercial auto insurance and many other personal and business insurance products. The carrier has great ratings from AM Best and the Better Business Bureau (BBB) and provides 24/7 claims reporting.
- Liberty Mutual: Liberty Mutual sells commercial auto insurance and many other business and personal insurance products. The insurer is a Fortune 500 company with great AM Best and BBB ratings and provides 24/7 claims reporting.
- EMC Insurance Companies: EMC Insurance sells commercial vehicle insurance and many other business insurance products. The carrier has great ratings from AM Best and the BBB, affordable policies, and 24/7 customer service.
- Progressive: Progressive sells commercial auto insurance and many other personal and business insurance products. The carrier has great financial strength ratings and provides 24/7/365 customer service.
An Arkansas independent insurance agent can pull quotes for commercial vehicle insurance from any of these carriers and others for your business.
What Commercial Vehicle Insurance in Arkansas Can Cover
Commercial auto insurance in Arkansas is designed to protect company vehicles in multiple ways. You can expect to find some or all of the following coverages in a commercial auto policy:
- Uninsured/underinsured motorists insurance: This coverage can pay for the cost of accidents involving other drivers who don't carry enough or any car insurance of their own to pay for their portion of the expenses.
- Medical payments insurance: This coverage can pay for the cost of medical treatments if a company driver or their passengers get injured in an accident while using a company vehicle for business purposes.
- Personal injury protection: This coverage includes medical payments, lost wage replacement, and certain other expense coverage.
- Collision insurance: This coverage can pay for damage to your business vehicles from a collision with another driver, regardless of fault.
- Comprehensive insurance: This coverage can pay for damage to your business vehicles due to a non-collision event such as a flood or theft.
- Liability insurance: This coverage can pay for the costs of property damage or bodily injury your business causes a third party with a company vehicle.
An independent insurance agent in Arkansas can help your business assemble the right kind of commercial auto insurance policy for its unique operations.
How Much Commercial Vehicle Insurance Is Required in Arkansas?
So, why do you need Arkansas commercial auto insurance? To comply with the state's laws for businesses with company vehicles. In fact, Arkansas state law mandates the following commercial auto insurance coverage types and amounts for businesses:
- 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 Arkansas.
- 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 Arkansas.
This translates to basic commercial vehicle coverage requirements of 25/50/25 in Arkansas. However, you may wish to add more coverage for your business.
What Commercial Vehicle Insurance in Arkansas Will Not Cover
A commercial vehicle insurance policy comes with certain coverage exclusions. It's necessary to be aware of these for several reasons, including so that you can buy other types of coverage for your business.
Your commercial vehicle insurance policy may not cover things such as employee injuries that would be covered by workers' compensation, intentional damage to others or their property with company vehicles, damage to company property that would be covered under commercial property insurance, or accidents caused by employees who were intoxicated while operating company vehicles.
Average Cost of Commercial Vehicle Insurance in Arkansas
It costs an average of just under $150 per month to equip your Arkansas business with commercial auto coverage. However, the cost of your company's policy may vary based on several factors, possibly including your business's size and annual revenue, the number of vehicles it must insure, the driving history of your employees who operate company vehicles, and more.
Popular Questions about Arkansas Commercial Vehicle Insurance
If your business uses company vehicles for work purposes in Arkansas, you'll need commercial auto insurance. Coverage is mandated by state law.
Yes, Arkansas state law requires commercial auto insurance. This law applies to any business that relies on company vehicles for work purposes such as deliveries and more.
In Arkansas, commercial auto insurance must at least include liability coverage. This coverage comes in two forms: property damage liability and bodily injury liability.
In Arkansas, the following types and amounts of commercial auto coverage are mandatory by law:
- Bodily injury liability insurance: Coverage of at least $25,000 per person and $50,000 per accident of bodily injury liability insurance is required.
- Property damage liability insurance: Coverage of at least $25,000 per incident of property damage liability coverage is required.
Yes, commercial vehicle insurance is tax-deductible in Arkansas. Businesses can deduct the cost of their policy premiums from their total taxable income.
Arkansas commercial auto insurance must at least include liability coverage. However, your business can customize its policy to include additional forms of protection, including collision and comprehensive and others.
A commercial auto policy in Arkansas costs an average of just below $150 monthly. But your business's policy's cost can vary depending on how many company vehicles must be insured and other factors.
Arkansas 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/small-business-insurance/commercial-auto/arkansas