North Carolina Commercial Vehicle Insurance
Get a full analysis of North Carolina 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 North Carolina
From delivery trucks to pizza delivery cars, limos, and construction vehicles, there are a wide variety of commercial vehicles on the roads of North Carolina. Accidents can happen at any time.
If you own a business in North Carolina and have one or more vehicles that you use for business purposes, it’s essential that you cover your company-owned vehicles with the right commercial vehicle insurance.
An independent insurance agent in North Carolina 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 North Carolina
There are a lot of options for commercial vehicle insurance in North Carolina. How can you make the best choice?
The following are some of the best commercial vehicle insurance companies in North Carolina. 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 North Carolina. North Carolina business owners 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 North Carolina. 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 North Carolina. 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 North Carolina commercial vehicle insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
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North Carolina Commercial Vehicle Insurance Requirements
Commercial auto insurance is a special auto insurance policy designed to protect your business from a portion of the cost of a legal claim against you, property damage to your vehicles and cargo, and medical payments to your drivers after an accident.
All vehicles registered in North Carolina are required by state law to have continuous auto liability insurance, with minimum coverage limits as follows:
- Bodily injury liability coverage for one person: $30,000
- Bodily injury liability coverage for two or more persons: $60,000
- Property damage liability coverage: $25,000
North Carolina also requires uninsured/underinsured motorist coverage for commercial vehicles.
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 North Carolina.
What Commercial Vehicle Insurance Covers in North Carolina
Liability lawsuits, property damage, and loss of income often result when a business car or truck is involved in an accident. Even minor fender-benders can be costly. The cost of repairing damage to vehicles and loss of productivity if a vehicle is out of service for a while or needs to be replaced can easily set you back financially.
That’s why any business in North Carolina that owns vehicles needs commercial auto insurance to protect itself from the financial losses that can result from an accident.
All commercial vehicle insurance policies in North Carolina will include at least the state-mandated coverage for each vehicle on the policy:
- 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.
- 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.
In addition, insurance companies offer several other types of coverage that may be included in your North Carolina commercial vehicle policy:
- 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.
- 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 North Carolina
Commercial auto insurance costs can vary greatly from one company to the next. This is because rates are calculated according to a number of factors, such as:
- How many vehicles you are insuring
- The type(s) of vehicles you are insuring (e.g., car, cargo van, bus, semi-truck, dump truck, etc.)
- The vehicle’s passenger capacity if it will be used to transport people
- The types of materials the vehicle will be transporting
- Whether the vehicle(s) will be used locally or for interstate commerce
- The driving histories of the employees who will be operating the vehicles
- The amount of insurance and the coverage options you are purchasing
Because taking steps to increase driver safety can reduce the risk of accidents, many commercial vehicle insurance companies in North Carolina offer discounts to policyholders who provide their drivers with routine safety training and educational materials.
An independent insurance agent can help you understand all the risks you face and get quotes for affordable commercial auto insurance in North Carolina.
How to Find the Best Commercial Vehicle Insurance Quote in North Carolina
Commercial vehicle insurance can cover everything from small cars to large buses, so North Carolina businesses have varying coverage requirements and needs. Seeking the advice of a local independent insurance agent is the best way to get your questions answered and find affordable coverage.
An independent insurance agent in North Carolina can help you obtain and compare a selection of customized quotes for your unique coverage needs.
Find Commercial Auto Insurance
Our independent agents shop around to find you the best coverage.
North Carolina Commercial Vehicle Insurance FAQs
Commercial vehicles are generally exposed to more risks than most personal vehicles. Business autos tend to be out on the road more, and for that reason alone, they have 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 business that owns vehicles needs commercial auto insurance to protect itself from the large financial losses that can result from a crash. And crashes are all too common on the busy North Carolina roadways.
All vehicles registered in North Carolina, whether used for personal or business purposes, are required to carry car insurance. Commercial auto policies in North Carolina must include at least bodily injury liability coverage, property damage liability coverage, and uninsured/underinsured motorist coverage.
All commercial auto insurance policies in North Carolina will include at least the state-mandated coverage for each vehicle on the policy:
- 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.
- 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.
In addition, insurance companies offer several other types of coverage that may be included in your North Carolina commercial auto policy:
- 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.
- 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 vehicles registered in North Carolina are required by state law to have continuous auto liability insurance, with minimum coverage limits as follows:
- Bodily injury liability coverage for one person: $30,000
- Bodily injury liability coverage for two or more persons: $60,000
- Property damage liability coverage: $25,000
North Carolina also requires uninsured/underinsured motorist coverage for commercial vehicles.
Trucks over 10,000 pounds have additional state and federal regulations that they must comply with, including additional liability insurance requirements.
Business owners in North Carolina 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 North Carolina can vary significantly from one business to the next. In general, a commercial auto insurance policy will cost more than a personal auto insurance policy with similar coverage.
The following factors influence what you’ll pay for North Carolina commercial vehicle insurance:
- 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 North Carolina. They are highly rated for offering broad coverage, top-notch customer service, and a variety of affordable options for business owners.
Shopping for the right commercial vehicle insurance coverage does not have to be difficult or time-consuming. A local independent insurance agent can answer your insurance-related questions, offer trustworthy advice, and obtain customized quotes from multiple insurance companies.
Find an independent insurance agent in North Carolina 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.
https://www.ncdot.gov/dmv/title-registration/insurance-requirements/Pages/default.aspx
https://www.iii.org/automobile-financial-responsibility-laws-by-state