Illinois Commercial Vehicle Insurance
Get a complete analysis of Illinois 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 Illinois
The manufacturing industry is a driving force in Illinois’ economy. That means there are many commercial vehicles on the roads in Illinois, moving materials and products around the state. No matter the size of your company, it’s critical to have Illinois commercial vehicle insurance. This coverage is required by law and can help your business get reimbursed for the cost of company vehicle accidents and other disasters.
An Illinois independent insurance agent can help you find the right business auto insurance for your unique company. They'll get you matched to the right policy with ease. First, though, here's a deep dive into Illinois commercial vehicle insurance regulations and more.
Best Commercial Vehicle Insurance Companies in Illinois
If you're looking for the best commercial vehicle insurance in Illinois, you've come to the right place. We've included some of our recommendations for the best commercial auto insurance companies in Illinois for you. Start your business's coverage journey by checking out these top-rated carriers.
- EMC Insurance Companies: This carrier offers commercial vehicle policies and many other types of business insurance. The insurance company has great ratings from AM Best and the Better Business Bureau (BBB), affordable premium rates, and 24/7 customer service.
- Liberty Mutual: This carrier offers commercial vehicle insurance and many other types of business and personal insurance. The insurance company is also a Fortune 500 company with great ratings from AM Best and the BBB and offers 24/7 claims reporting.
- Progressive: This carrier offers commercial vehicle policies and many other types of business and personal insurance. The insurance company has a superior financial strength rating from AM Best and provides 24/7/365 customer service.
An Illinois independent insurance agent can help you shop and compare commercial vehicle insurance policies and rates from these carriers and others.
What Commercial Vehicle Insurance in Illinois Can Cover
You'll need a certain amount of commercial vehicle insurance in Illinois to satisfy the state's requirements. Here are a few of the most common types of commercial auto coverage you'll be able to choose from:
- Collision insurance: Pays for damage to your car from a collision with another driver, regardless of fault.
- Comprehensive insurance: Pays for damage to your car due to a non-collision event such as a flood or theft.
- Liability insurance: Pays for the costs of causing property damage or bodily injury to a third party with a company vehicle.
- Uninsured/underinsured motorists insurance: This pays for costs associated with 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: Pays for the costs of medical treatments if an employee or company driver or their passengers get injured in an accident while using a company vehicle for business purposes.
Commercial vehicle insurance is a key component of Illinois commercial vehicle registration. An independent insurance agent in Illinois can help you satisfy all state requirements.
How Much Commercial Vehicle Insurance Is Required in Illinois?
Just like any other state, Illinois has its own commercial vehicle insurance requirements. All businesses with company-owned vehicles must carry the following:
- 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 Illinois.
- Property damage liability insurance: Coverage of at least $20,000 per accident of property damage liability coverage is required for businesses with company vehicles in Illinois.
- Uninsured/underinsured motorist: Coverage of at least $25,000 per person and $50,000 per accident of uninsured/underinsured motorist coverage is required for businesses with company vehicles in Illinois.
Be aware that Illinois commercial vehicle enforcement means that your business could get hit with fines or other penalties if it fails to secure the above coverage.
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What Commercial Vehicle Insurance in Illinois Will Not Cover
Commercial vehicle insurance in Illinois won't cover temporary business closures because those would fall under business interruption insurance instead. It also won't cover the theft or loss of other types of company property, including buildings and inventory, because those incidents would fall under commercial property insurance.
In Illinois, commercial auto insurance is also likely to exclude the following:
- Employee workplace injuries and illnesses that can be covered by a workers' compensation policy
- Incidents of intentional harm or property damage to third parties caused by company drivers
- Any damage to or destruction of company vehicles from environmental pollutants
- Any accidents caused by a company driver who was intoxicated
Ask your Illinois independent insurance agent to review your commercial vehicle insurance policy with you so you can be aware of your exact coverage exclusions. Your agent can also help you get set up with other types of Illinois business insurance if you're still in need.
Average Cost of Commercial Vehicle Insurance in Illinois
In Illinois, commercial vehicle insurance costs about $150 per month, on average. However, the cost of your business's policy can vary based on the following:
- The location, size, and annual revenue of your business
- Your business's claims history
- The number of company vehicles your business owns
- The driving records of all company drivers
- The types and amounts of coverage your business needs
- Where, how, and how often company vehicles are used
An independent insurance agent in Illinois can help you get set up with the most affordable business auto insurance in Illinois.
Popular Questions about Illinois Commercial Vehicle Insurance
In Illinois, many businesses need commercial auto insurance. If a business relies on company-owned vehicles, it must have this coverage.
Yes, Illinois law mandates commercial vehicle insurance for many businesses that own company vehicles. If you're unsure of whether your business needs a policy, a local independent insurance agent can help answer that for you.
In Illinois, commercial auto insurance plans include liability protection and uninsured motorist coverage. Many businesses also add other types of protection to their plans, such as comprehensive and collision coverage.
Illinois requires the following types and amounts of business auto 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.
- Property damage liability insurance: Coverage of at least $20,000 per accident of property damage liability coverage is required.
- Uninsured/underinsured motorist: Coverage of at least $25,000 per person and $50,000 per accident of uninsured/underinsured motorist coverage is required.
The cost of commercial vehicle insurance is tax-deductible in Illinois. Commercial auto insurance premiums are considered a legitimate business expense.
In Illinois, commercial auto insurance covers at least uninsured/underinsured motorists and liability in two forms. However, your business can customize its policy to include more types of coverage as well.
In Illinois, commercial auto insurance costs an average of just under $150 per month. An independent insurance agent can help you find the best rate in your area.
Illinois 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.
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