Find the Best Commercial Vehicle Insurance Rates and Companies in Mississippi
If you run a business in Mississippi, you've got to make sure it's set up with all the right types of business insurance. Any business that relies on delivery vans or other company vehicles to complete work operations must be equipped with commercial vehicle insurance. This coverage can help reimburse your business for lawsuits, accidents, vehicle theft, and other potential disasters.
Luckily, a Mississippi independent insurance agent can help your business get the right commercial auto insurance policy. They'll help you select the right types of coverage for your unique company. But up first, here's an overview of Mississippi commercial vehicle insurance requirements and more.
Best Commercial Vehicle Insurance Companies in Mississippi
Want to find the best commercial auto insurance in Mississippi? You're in luck, because we've gathered a few of our top recommendations for the best commercial vehicle insurance companies in Mississippi. When it's time to get your business covered, check into these outstanding carriers first.
- Nationwide: Nationwide offers commercial auto insurance and several other kinds of personal and business insurance. The insurance company has outstanding ratings from AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
- Travelers: Travelers offers commercial auto insurance and several other kinds of business and personal insurance. The insurance company also has outstanding AM Best and BBB ratings and many discount options for customers.
- Liberty Mutual: Liberty Mutual offers commercial auto insurance and several other kinds of business and personal insurance. The insurance company is also a Fortune 500 company with outstanding ratings from AM Best and the BBB and offers 24/7 claims reporting.
An independent insurance agent can help your business adhere to Mississippi commercial vehicle regulations by getting you set up with the right commercial auto policy.
What Commercial Vehicle Insurance in Mississippi Can Cover
A commercial auto policy in Mississippi is likely to include several forms of coverage. Look for the following choices when building your company's business vehicle insurance policy:
- Liability insurance: This covers the costs of property damage or bodily injury your business causes a third party with a company vehicle.
- Collision insurance: This covers the costs of damage to your business vehicles from a collision with another driver, regardless of fault.
- Comprehensive insurance: This covers the costs of damage to your business vehicles due to a non-collision event such as a flood or theft.
- Medical payments insurance: This covers the costs of medical treatment if company drivers or their passengers get injured in an accident while operating company vehicles for business purposes.
- Uninsured/underinsured motorists insurance: This covers expenses related to accidents with drivers who don't carry enough car insurance to cover their share of the damages.
Mississippi commercial vehicle registration requirements can only be completed once your business has all the mandated commercial auto insurance coverage. A Mississippi independent insurance agent can help your business complete state commercial auto coverage requirements.
How Much Commercial Vehicle Insurance Is Required in Mississippi?
Mississippi requires businesses with commercial vehicles to carry certain types and amounts of coverage. In Mississippi, your business must be equipped with at least the following business auto coverages:
- 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 Mississippi.
- 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 Mississippi.
Business owners need to be aware that Mississippi commercial vehicle enforcement dictates that your company could face penalties such as fines or temporary mandated shutdowns if it fails to secure the proper amount of commercial auto insurance.
What Commercial Vehicle Insurance in Mississippi Won't Cover
Your business's other property, such as equipment, inventory, buildings, etc., is covered by commercial property insurance, so your commercial auto insurance won't cover it. Commercial auto insurance also doesn't cover employee injuries and illnesses caused by job tasks or the workplace, which are covered under workers' compensation. Mississippi commercial vehicle insurance is also unlikely to cover the following:
- Incidents of harm to third parties committed intentionally by company drivers
- Accidents and other incidents caused by company drivers who were intoxicated
- Destruction or damage to company vehicles caused by environmental pollutants
An independent insurance agent in Mississippi can help you review your business's specific commercial vehicle insurance exclusions.
Average Cost of Commercial Vehicle Insurance in Mississippi
A commercial vehicle insurance policy in Mississippi costs an average of just below $150 per month. However, several factors can influence your business's premium costs. These factors can include things like the size and exact location of your business and the total number of vehicles that need insurance. A Mississippi independent insurance agent can help you find the right commercial vehicle insurance at the best possible rate.
Popular Questions about Mississippi Commercial Vehicle Insurance
Your business likely needs commercial auto insurance if it relies on company vehicles. Mississippi does require all businesses with company vehicles to have this coverage.
Yes, Mississippi law mandates commercial auto insurance for businesses with vehicles. If your business makes deliveries or otherwise relies on company vehicles, it must have this coverage.
In Mississippi, commercial auto insurance plans cover at least bodily injury liability and property damage liability. However, your business can choose to add more types of coverage to its policy.
In Mississippi, businesses with company vehicles are required to carry at least 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.
- Property damage liability insurance: Coverage of at least $25,000 per incident of property damage liability coverage is required.
Yes, commercial vehicle insurance premiums are tax-deductible in Mississippi. The cost of your business's commercial auto policy is considered a legitimate business expense.
Mississippi's commercial auto insurance policies come with, at a minimum, liability coverage. This is broken down to bodily injury liability and property damage liability.
In Mississippi, commercial auto insurance costs an average of just below $150 per month. Several factors can influence these costs, though, such as your business's size and exact location.
Mississippi independent insurance agents can shop and compare policies from multiple commercial vehicle insurance carriers for you. Ultimately, they'll get your business set up with a policy offering the best overall blend of coverage and cost. Additionally, your agent can help your business file commercial auto insurance claims and update its coverage as necessary.
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