South Dakota Commercial Vehicle Insurance
Get a full analysis of South Dakota 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 South Dakota
Whether you own a Sioux Falls catering business or a Rapid City construction firm, the vehicles used for your South Dakota business are most likely required to have commercial auto insurance. Having this coverage can help your business avoid state penalties such as fines or worse. It can also help your business get important reimbursement after an accident or another incident involving company vehicles.
Fortunately, an independent insurance agent in South Dakota can help you get all the commercial auto insurance your business needs. They'll help you find just the right policy. But first, here's more about South Dakota commercial vehicle insurance.
Best Commercial Vehicle Insurance Companies in South Dakota
Looking for the best commercial auto insurance companies in South Dakota? You're in the right place. We've gathered just a few of our top recommendations for the best commercial auto insurance in South Dakota for your convenience. Start by checking into these outstanding carriers to satisfy your business's coverage needs.
- Travelers: Travelers is a longstanding insurer that offers commercial auto insurance along with many other business and personal insurance products. Travelers has outstanding AM Best and Better Business Bureau (BBB) ratings, great customer feedback, and many discount options.
- Liberty Mutual: Liberty Mutual is another longstanding insurer that offers commercial auto insurance and numerous other business and personal products. Liberty Mutual is also a Fortune 500 company that offers 24/7 claims reporting and has excellent ratings from AM Best and the BBB.
- Nationwide: Nationwide is a top-rated insurer that offers commercial auto insurance along with many other business and personal insurance products. Nationwide also has outstanding ratings from both AM Best and the BBB and provides 24/7 claims reporting.
A South Dakota independent insurance agent can help you shop and compare policies from any of these excellent carriers. They'll ensure your business meets South Dakota commercial vehicle regulations regarding the right commercial auto insurance.
What Commercial Vehicle Insurance in South Dakota Can Cover
Though policies can vary, businesses can choose from several types of coverage to create their commercial vehicle plans. A South Dakota commercial auto policy likely will include a few or all of these coverages:
- Collision insurance: This covers expenses associated with damage to your business vehicles from a collision with another driver, regardless of fault.
- Comprehensive insurance: This covers expenses associated with damage to your business vehicles due to a non-collision event such as a flood or theft.
- Liability insurance: This covers expenses associated with property damage or bodily injury your business causes a third party with a company vehicle.
- Uninsured/underinsured motorists insurance: This covers expenses associated with accidents involving other drivers who don't carry adequate car insurance of their own to cover their expenses.
- Medical payments insurance: This covers expenses associated with medical treatments if a company driver or their passengers get injured in an accident while using a company vehicle for business tasks.
- Personal injury protection: This covers expenses including medical payments, lost wage replacement, and certain other expense coverage.
All companies that use vehicles must complete South Dakota's commercial vehicle registration requirements with adequate commercial auto insurance. An independent insurance agent in South Dakota can recommend the right types and amounts of coverage for you.
How Much Commercial Vehicle Insurance Is Required in South Dakota?
A certain amount of coverage is mandatory by state law in South Dakota. Your business must be equipped with at least the following commercial 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 for businesses with company vehicles in South Dakota.
- 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 South Dakota.
South Dakota commercial vehicle enforcement helps businesses like yours avoid state penalties like fines for not having adequate coverage on company vehicles. Having enough coverage can also help your business financially recover in case of a major accident, lawsuit, or another issue involving company vehicles.
What Commercial Vehicle Insurance in South Dakota Will Not Cover
Commercial auto insurance in South Dakota covers a lot of possible company vehicle incidents, but it doesn't cover other aspects of your business. Expect to see coverage exclusions like these in your commercial auto policy:
- Any intentional harm to others or their property caused by drivers of company vehicles
- Accidents caused by company drivers who were intoxicated
- Any damage to company vehicles from environmental pollutants
- Damage, destruction, or theft of business property, including inventory, that's covered by commercial property insurance
- Employee injuries that are covered by a workers' compensation policy
Your South Dakota independent insurance agent can review your specific business's commercial auto insurance policy with you so you can be firmly aware of its listed exclusions. Your agent can also help you add other types of business insurance you may still be in need of.
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Average Cost of Commercial Vehicle Insurance in South Dakota
It costs an average of just under $150 monthly to insure a business with commercial auto coverage in South Dakota. However, keep in mind that each business's rates may vary based on several different factors. These can include things like:
- Your company's claims history
- Driving records of any employees who use company vehicles
- Your business's size, annual revenue, and location
- How often all company vehicles are used and where they're driven
- The kind and amount of coverage included in your policy
- The number of company vehicles that need coverage
An independent insurance agent in South Dakota can help your business get covered by all the commercial auto insurance necessary for the job.
Popular Questions about South Dakota Commercial Vehicle Insurance
Yes, your business needs commercial auto insurance in South Dakota if it uses company vehicles. This coverage is mandatory if your company relies on business vehicles for work tasks such as deliveries.
Yes, South Dakota law requires businesses that use company vehicles to have commercial auto insurance. Your business must at least meet the state's minimum coverage requirements to avoid penalties like fines.
In South Dakota, commercial auto insurance plans must at least cover liability in two forms, including bodily injury and property damage to others. However, many businesses choose to add other types of coverage to their policies, such as collision or comprehensive.
In South Dakota, the following types and amounts of commercial auto insurance are required by state 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 premiums are tax-deductible in South Dakota. Your business can claim its commercial auto insurance costs as a business expense.
South Dakota commercial auto insurance covers, at minimum, bodily injury and property damage liability. However, your policy can be customized to include more protection, including uninsured motorist coverage and others.
In South Dakota, commercial auto insurance costs an average of just under $150 per month. However, your business's premium rates can vary depending on the number of vehicles you need to insure and other factors.
South Dakota 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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