Wisconsin Commercial Vehicle Insurance
Get a full analysis of Wisconsin 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 Wisconsin
Locally-owned businesses are thriving in Wisconsin. However, there are financial risks associated with running a business, which increase significantly when company vehicles are part of the equation. Accidents involving company cars or trucks can happen, and possible resulting liability expenses have the potential to bankrupt a company that's not properly insured. Fortunately, a commercial auto insurance policy can protect your business from the financial impact an accident or other incidents can have.
An independent insurance agent in Wisconsin can help you find the right commercial auto policy for your business. They'll make sure you get matched to the appropriate amount of coverage. First, though, here's more about Wisconsin commercial vehicle insurance, what it covers, and more.
Best Commercial Vehicle Insurance Companies in Wisconsin
Your business can easily get coverage from one of the best commercial auto insurance companies in Wisconsin. Here are just a few of our recommendations for the best commercial auto insurance in Wisconsin. These top-rated carriers offer the coverage your business needs for its vehicles and beyond.
- Liberty Mutual: Liberty Mutual offers commercial auto insurance and many other business and personal insurance products. The carrier is also a Fortune 500 company that has excellent ratings from AM Best and the Better Business Bureau (BBB) and provides 24/7 claims reporting.
- Nationwide: Nationwide offers commercial auto insurance and many other business and personal insurance products. The carrier also has outstanding ratings from both AM Best and the BBB and offers 24/7 claims reporting.
- Encova: Encova offers commercial auto insurance and many other types of business and personal insurance. The carrier has great ratings from both AM Best and the BBB and offers 24/7 claims reporting.
An independent insurance agent in Wisconsin can pull quotes for commercial auto insurance from any of these carriers for your business. They can also help you meet Wisconsin commercial vehicle regulations in terms of insurance coverage for your company vehicles.
What Commercial Vehicle Insurance in Wisconsin Can Cover
Wisconsin's commercial auto insurance policies can vary depending on the types of coverage each business selects. In general, you can expect to be able to choose between the following types of coverage:
- 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.
- Liability insurance: This covers the costs of property damage or bodily injury your business causes a third party with a company vehicle.
- Uninsured/underinsured motorists insurance: This covers the costs of accidents with other drivers who don't carry enough car insurance to cover their portion of expenses.
- 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.
Wisconsin commercial vehicle registration cannot be completed until the right amount of commercial auto insurance is secured by a business. An independent insurance agent in Wisconsin can help your business get all the coverage required for its company vehicles and more.
How Much Commercial Vehicle Insurance Is Required in Wisconsin?
Like most other states, Wisconsin has requirements for commercial auto insurance minimums. Your business must at least carry the following in terms of commercial vehicle insurance:
- 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 Wisconsin.
- Property damage liability insurance: Coverage of at least $10,000 per incident of property damage liability coverage is required for businesses with company vehicles in Wisconsin.
Wisconsin commercial vehicle enforcement can lead to fines or other state-enforced penalties if your business fails to get the mandatory amount of coverage.
What Commercial Vehicle Insurance in Wisconsin Will Not Cover
A commercial auto insurance policy comes with certain exclusions that are critical to be aware of. This can help your business avoid filing claims that are bound to get denied and also bridge any coverage gaps beforehand. Look for these possible exclusions and others in your commercial auto policy:
- Malicious or intentional acts against third parties or their property by company drivers
- Incidents with company vehicles caused by drivers while they were intoxicated
- Pollutant damage or destruction to company vehicles
- Theft, destruction, or damage to business equipment and inventory that's covered under commercial property insurance
- Employee workplace injuries and illnesses that are covered under workers' compensation
A Wisconsin independent insurance agent can help you determine all of the exclusions outlined in your commercial vehicle insurance and also add other types of business insurance your company may need.
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Average Cost of Commercial Vehicle Insurance in Wisconsin
Wisconsin commercial vehicle insurance costs an average of about $147 per month. However, your business's size, location, number of company vehicles, annual revenue, and other factors can all impact these costs. Other factors affecting your policy's premiums may include:
- The types and amounts of coverage your business needs
- Your business's prior claims history
- The driving records of company vehicle operators
- How often insured company vehicles are operated, and where
An independent insurance agent in Wisconsin can help your business compare quotes for affordable commercial vehicle coverage.
Popular Questions about Wisconsin Commercial Vehicle Insurance
Your business might need commercial auto insurance in Wisconsin if it has company-owned vehicles. If your business makes deliveries or uses vehicles for other work tasks, coverage is likely required.
Wisconsin state law does require businesses with company vehicles to have commercial auto insurance. If your business runs a mobile service, makes deliveries, or otherwise relies on company vehicles, it must have coverage under a commercial auto policy.
In Wisconsin, commercial auto insurance must include at least liability protection in the form of bodily injury and property damage. However, your business can customize its policy to include other types of coverage, such as uninsured motorist or medical payments.
Wisconsin state law mandates businesses must have at least the following types and amounts of commercial auto insurance:
- 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 $10,000 per incident of property damage liability coverage is required.
Yes, commercial vehicle insurance premiums are tax-deductible in Wisconsin. Businesses can claim the cost of their coverage as a business expense.
Wisconsin commercial vehicle insurance covers liability in two forms: bodily injury and property damage. However, you might choose to include several other types of coverage in your business's policy.
In Wisconsin, commercial auto insurance averages about $147 per month. However, your business's policy costs can vary depending on the amount of coverage you need, the number of company vehicles you have, and other factors.
Wisconsin 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.
https://www.insureon.com/small-business-insurance/commercial-auto/wisconsin