Montana Commercial Vehicle Insurance
Get a full analysis of Montana commercial vehicle costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Commercial Vehicle Insurance Options in Montana
There are thousands of small businesses based in Montana, and these businesses encompass many different industries and have varying insurance coverage needs. Those who have company-owned vehicles that they use as part of their day-to-day operations will need to carry commercial vehicle insurance as part of their comprehensive business insurance program.
Commercial vehicle insurance can prevent a serious accident from impacting your company’s bottom line.
An independent insurance agent in Montana can help you find competitively priced coverage that is compliant with all state and federal laws and affordable for your business.
Best Commercial Vehicle Insurance Companies in Montana
Numerous insurance companies offer commercial vehicle insurance in Montana. The following are some of the best commercial vehicle insurance companies in Montana. They are highly rated for their mix of valuable coverage offerings and competitive pricing.
- Progressive: Progressive is based in Ohio but offers commercial vehicle insurance across all 50 states, including Montana. Montana residents can look to Progressive for most of their business insurance needs.
- Nationwide: Nationwide provides commercial auto insurance and other popular types of business insurance coverage in Montana. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states.
- Liberty Mutual: Liberty Mutual is headquartered in Boston, MA, and has been offering business insurance since 1912. Today, the company offers a flexible, multi-line range of coverages, including commercial vehicle insurance, designed to meet the needs of any business, regardless of size or industry.
- Travelers: Travelers offers highly rated commercial vehicle insurance in Montana. The company provides a variety of other business insurance options, including inland marine, workers' compensation, and general liability.
- EMC Insurance Companies: EMC is one of the top 60 business insurance companies in the United States. The company specializes in designing well-rounded insurance programs to protect the financial assets of many types of businesses and organizations.
An independent insurance agent in your area can help you learn more about these and other Montana commercial vehicle insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
Montana Commercial Vehicle Insurance Requirements
All vehicles in Montana — both personal and commercial — must have a minimum amount of liability insurance in order to comply with state law. All commercial auto policies in Montana must include the following for each vehicle:
- Bodily injury liability coverage: $25,000 per person and $50,000 per accident, at a minimum
- Property damage liability coverage: $20,000 per accident, at a minimum
It is usually a good idea to purchase liability coverage in amounts that are higher than the state’s required car insurance minimums. This is because accidents in company vehicles often lead to higher liability lawsuits since the injured party will see a greater chance of receiving a large cash award.
Trucks over 10,000 pounds have additional state and federal regulations that they must comply with, including additional liability insurance requirements. The amount of liability insurance required for trucks depends on several factors, including:
- The truck’s weight
- Whether the truck is involved in interstate commerce
- Whether the truck is transporting people, household goods, hazardous materials, etc.
Your independent insurance agent can help you learn more about the requirements for commercial vehicle insurance in Montana.
What Commercial Vehicle Insurance Covers in Montana
Commercial auto insurance is a specialized form of insurance that covers company-owned cars, vans, trucks, and other vehicles such as limousines. Unlike personal auto insurance, these policies often carry higher insurance coverage amounts.
Even if you are a small business owner in Montana, you will most likely need commercial vehicle coverage if you use your personal vehicle for work-related purposes.
All commercial vehicle insurance policies in Montana will include at least the state-mandated coverage.
- Bodily injury liability coverage: Protects your business if you or one of your drivers injures or kills someone else while driving a company-owned vehicle. It covers an injured party's claims for damages, including medical expenses, lost wages, and pain and suffering. It also covers your legal defense fees if another party involved in the accident sues you.
- Property damage liability coverage: Pays for any damage that you or one of your drivers cause to the property of others (e.g., another driver’s car) and for your legal defense if you are sued.
In addition, insurance companies offer several other types of coverage that may be included as standard in their policies or offered as optional coverage.
- Collision coverage: Covers damage to your vehicle sustained in a collision, regardless of who was at fault.
- Comprehensive coverage: Covers the cost to repair or replace your vehicle if it is damaged or totaled by a non-collision event such as a hailstorm or theft.
- Medical payments coverage: Helps pay for medical, dental, and funeral expenses for you or your passengers, regardless of who is at fault for an accident.
- Uninsured/underinsured motorist coverage: Covers your driver’s medical expenses and your vehicle’s damage following an accident caused by an uninsured or underinsured driver.
- Towing and roadside assistance: Covers the cost of a service call if your company vehicle becomes disabled while on the road.
- Non-owned or hired auto liability insurance: Provides liability coverage for non-owned vehicles used for business purposes, such as when you rent or lease a vehicle or when you or an employee use a personal vehicle for business purposes.
Your local independent insurance agent can help you determine which coverage types may benefit your unique needs.
Average Cost of Commercial Vehicle Insurance in Montana
The cost of commercial auto insurance can vary significantly from one Montana business to the next. Insurance companies assess risk and calculate rates according to a variety of factors that are unique to your business, including:
- The number of vehicles your business is insuring
- Each vehicle’s type, year, make, model, and safety features
- Each vehicle’s passenger capacity if used for transporting people
- Whether your vehicle(s) will be used to transport hazardous materials
- The estimated number of miles your vehicle(s) will be driven annually
- The driving histories of the employees who will be operating the vehicles
- The amount of coverage you wish to purchase
Because each insurance company has its own method for determining costs, it pays to compare rates before purchasing a policy. That way, you can be sure you are getting the coverage you want at a competitive price.
An independent insurance agent can help you understand all the risks you face and get quotes for affordable commercial auto insurance in Montana.
How to Find the Best Commercial Vehicle Insurance Quote in Montana
Finding the best commercial auto insurance quote in Montana requires comparing several insurance companies and making an informed choice. But you don’t have to go it alone.
An independent insurance agent in Montana can help you obtain quotes and choose the one that offers the best coverage for your needs and budget. A local agent can answer your insurance-related questions, offer trustworthy advice, and obtain customized quotes from multiple insurance companies. And an independent agent works for you, free of charge, to help you through the process.
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Montana Commercial Vehicle Insurance FAQs
Commercial vehicles are assumed to face greater risks than most personal vehicles. They are out on the road more, and for that reason alone, they are at a greater risk of being involved in a crash.
If your commercial vehicle is involved in an accident that results in serious injuries or fatalities, you can be faced with a very expensive lawsuit. And even minor fender-benders can result in property damage costs and loss of income for your business.
Any Montana business that owns vehicles needs commercial auto insurance to protect itself from the large financial losses that can result from a car accident.
All vehicles registered in Montana, whether used for personal or business purposes, are required to carry car insurance. Commercial auto policies in Montana must include at least bodily injury liability coverage and property damage liability coverage.
All commercial vehicle insurance policies in Montana will include at least the state-mandated coverage.
- Bodily injury liability coverage: Protects your business if you or one of your drivers injures or kills someone else while driving a company-owned vehicle. It covers an injured party's claims for damages, including medical expenses, lost wages, and pain and suffering. It also covers your legal defense fees if another party involved in the accident sues you.
- Property damage liability coverage: Pays for any damage that you or one of your drivers cause to the property of others (e.g., another driver’s car) and for your legal defense if you are sued.
In addition, your commercial vehicle policy in Montana may include several other types of coverage, including:
- Collision coverage: Covers damage to your vehicle sustained in a collision, regardless of who was at fault.
- Comprehensive coverage: Covers the cost to repair or replace your vehicle if it is damaged or totaled by a non-collision event such as a hailstorm or theft.
- Medical payments coverage: Helps pay for medical, dental, and funeral expenses for you or your passengers, regardless of who is at fault for an accident.
- Uninsured/underinsured motorist coverage: Covers your driver’s medical expenses and your vehicle’s damage following an accident caused by an uninsured or underinsured driver.
- Towing and roadside assistance: Covers the cost of a service call if your company vehicle becomes disabled while on the road.
- Non-owned or hired auto liability insurance: Provides liability coverage for non-owned vehicles used for business purposes, such as when you rent or lease a vehicle or when you or an employee use a personal vehicle for business purposes.
All commercial auto policies in Montana must include for each vehicle:
- Bodily injury liability coverage: $25,000 per person and $50,000 per accident, at a minimum
- Property damage liability coverage: $20,000 per accident, at a minimum
Trucks over 10,000 pounds have additional state and federal regulations that they must comply with, including additional liability insurance requirements.
Business owners in Montana can deduct from their taxes the ordinary and necessary cost of any business insurance policy as a business expense. This includes any insurance policy that is common, helpful, and appropriate for your industry.
What’s more, most businesses are required to carry some types of business insurance — including commercial auto insurance — because of state laws, industry regulations, or contracts. Premiums for these policies are tax-deductible.
In addition, self-employed people who use their cars for business-related purposes can deduct many of the expenses associated with that vehicle, including car insurance premiums. If you use your car strictly for work-related purposes, you can write off all costs associated with operating and maintaining it. If your car use is mixed between business and personal reasons, you can only deduct costs that are related to the business usage of the vehicle.
Commercial vehicle insurance costs in Montana can vary significantly from one business to the next. In general, commercial auto insurance costs more than personal auto insurance.
What you’ll pay for commercial vehicle insurance in Montana depends on:
- The number of vehicles your business is insuring
- Each vehicle’s type, year, make, model, and safety features
- Each vehicle’s passenger capacity if used for transporting people
- Whether your vehicle(s) will be used to transport hazardous materials
- The estimated number of miles your vehicle(s) will be driven annually
- The driving histories of the employees who will be operating the vehicles
- The amount of coverage you wish to purchase
Liberty Mutual, Nationwide, Travelers, Progressive, and EMC are some of the best commercial vehicle insurance companies in Montana. They are highly rated for offering broad coverage, top-notch customer service, and a variety of affordable options for business owners.
Searching for the best and most affordable commercial auto insurance in Montana can be frustrating and confusing. That’s why it pays to have an experienced insurance professional in your corner.
Find an independent insurance agent in Montana now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
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