Tennessee Commercial Vehicle Insurance
Get a complete analysis of Tennessee 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 Tennessee
Whether you own a large manufacturing company, a small limousine service, or anything in between, if you have company-owned vehicles, your business needs to be covered by commercial vehicle insurance. This coverage can help your business get reimbursed after lawsuits, accidents, company vehicle theft, and other hazards. But without the proper coverage, your business could face hefty financial losses and even state penalties.
Luckily, a Tennessee independent insurance agent can help you get all the coverage you need for your business. They'll make sure you get set up with the right policy. But for starters, here's a closer look at Tennessee commercial auto insurance requirements and more.
Best Commercial Vehicle Insurance Companies in Tennessee
When it's time to find the best commercial auto insurance in Tennessee, it's helpful to skip ahead to the best commercial vehicle insurance companies in your area. We've compiled just a few of our top recommendations for quality coverage near you.
- Nationwide: Nationwide offers commercial auto insurance and many other types of personal and business insurance. The insurance company has excellent ratings from AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
- Travelers: Travelers offers commercial auto insurance and many other types of business and personal insurance. The insurance company also has excellent ratings from both AM Best and the BBB, numerous discount options, and great customer feedback.
- EMC Insurance Companies: EMC Insurance offers commercial vehicle insurance and many other types of business insurance. The insurance company has excellent ratings from both AM Best and the BBB, affordable policy rates, and 24/7 customer service.
An independent insurance agent can help your business satisfy Tennessee commercial vehicle regulations with the right commercial auto insurance policy. Your agent can pull quotes for coverage from all of these carriers and others for you.
What Commercial Vehicle Insurance in Tennessee Can Cover
In Tennessee, commercial auto insurance tends to include many different types of coverage. When assembling your business's commercial vehicle package, you'll likely choose from the following:
- Liability insurance: This covers the costs of property damage or bodily injury your business causes a third party with a company vehicle.
- Comprehensive insurance: This covers the costs of damage to your business vehicles due to a non-collision event such as a flood or theft.
- Collision insurance: This covers the costs of damage to your business vehicles from a collision with another driver, regardless of fault.
- Uninsured/underinsured motorists insurance: This covers the costs of accidents with other drivers who don't carry enough car insurance to cover their responsibility for the damages
- Medical payments insurance: This covers medical treatments if company drivers or their passengers get injured in an accident while operating company vehicles for business purposes.
Be aware that Tennessee commercial vehicle registration requirements cannot be fulfilled until your business has the right commercial vehicle coverage in place. A Tennessee independent insurance agent can help your business get covered today.
How Much Commercial Vehicle Insurance Is Required in Tennessee?
Your business is required to have a certain amount of Tennessee commercial auto insurance. It's critical to understand that Tennessee's specific commercial auto insurance requirements are as follows:
- 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 Tennessee.
- Property damage liability insurance: Coverage of at least $15,000 per incident of property damage liability coverage is required for businesses with company vehicles in Tennessee.
Also, be aware that Tennessee commercial vehicle enforcement could lead to fines or other penalties for your business if it fails to secure at least the kinds and amounts of commercial vehicle insurance listed above.
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What Commercial Vehicle Insurance in Tennessee Will Not Cover
It's also important to understand what commercial vehicle insurance does not cover. Your business's overall policy likely includes commercial property insurance, which can cover your business's buildings and other property against damage, theft, and destruction since it's not covered by commercial auto insurance.
It should also likely include workers compensation to provide reimbursement for medical treatments and other expenses related to employee injury or illness since these are not covered by commercial auto insurance either. Tennessee commercial auto insurance also likely doesn't cover:
- Environmental pollutant damage or destruction to business vehicles
- Intentional harm to third parties or their property by company drivers
- Business vehicle accidents and other disasters caused by intoxicated company drivers
An independent insurance agent in Tennessee can help your company complete its coverage requirements with any other forms of business insurance required for the job.
Average Cost of Commercial Vehicle Insurance in Tennessee
It costs about $147 per month, on average, to insure a Tennessee business with commercial vehicle insurance. However, these costs can vary based on a number of different variables, such as the total number of company vehicles that need coverage.
The size, location, and annual revenue of your business can also impact its premium rates. A Tennessee independent insurance agent can help your business get set up with the most affordable coverage available.
Popular Questions about Tennessee Commercial Vehicle Insurance
If your business uses company vehicles for work purposes, it needs commercial auto insurance. Tennessee state law mandates this coverage for applicable businesses.
Yes, Tennessee state law requires businesses with company vehicles to have commercial auto insurance by law. Without this coverage, the state can fine a business for noncompliance.
In Tennessee, a commercial auto insurance plan must at least cover liability in two forms: bodily injury and property damage. However, policies can be customized to include more types of protection, such as collision or comprehensive and others.
Tennessee state law requires at least the following types and amounts of commercial auto insurance 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 $15,000 per incident of property damage liability coverage is required.
Commercial vehicle insurance premiums are tax-deductible in Tennessee. The cost of this insurance can be deducted from the business's total annual revenue.
In Tennessee, commercial auto insurance covers, at a minimum, liability in both bodily injury and property damage forms. Your business can include more types of protection in its policy, however, if you desire.
In Tennessee, commercial auto insurance costs an average of $147 per month. The cost of your specific business's coverage can vary based on many different variables, such as the size of your company and the number of vehicles it has.
Tennessee 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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