When operating a business in Maryland, it is essential to have the proper insurance coverage, particularly for your commercial vehicles. Maryland commercial auto insurance provides the fundamental coverage to safeguard your business against unforeseen road accidents, property damage, and liability claims. With a commercial auto coverage tailored to your industry and fleet, you can confidently navigate any obstacle, ensuring your personnel's safety, your assets' security, and the continuation of your operations.
Commercial auto insurance Maryland is a policy specifically designed for businesses that utilize motor vehicles. It protects company-owned or leased delivery wagons, company cars, tractors, and other commercial vehicles. This policy covers vehicle-related accidents, property damage, bodily injury, larceny, and vandalism. Owned, leased, and employee-owned automobiles are usually included. It also safeguards businesses against commercial vehicle-related liability and damages.
Business auto insurance Maryland is usually required for firms that employ vehicles. The criteria depend on the vehicle type, weight, and business. Commercial auto insurance in Maryland is required for certain entities, which include:
Transportation service and executive vehicles–Businesses that offer transportation services, such as limousines, vehicle rental companies, and chauffeur services, must carry commercial auto insurance. This coverage safeguards their fleet of vehicles, including prestige and executive automobiles, in case of an accident or damage
Any company vehicle or fleet–Businesses that use company vehicles for various purposes, including sales agents, technicians, and service providers, should consider purchasing commercial auto insurance. This policy protects the company's vehicles and drivers from accidents, property damage, and liability claims during business travels
Logistics businesses or establishments–Businesses engaged in logistics, such as freight forwarding, supply chain management, and warehousing, require commercial auto insurance frequently. This coverage protects their goods-carrying, inventory management, and shipping coordination vehicles
Long haulers–Companies transporting goods over long distances must have commercial auto insurance. This insurance protects the company's fleet of vehicles, tractor trailers, and drivers against liability claims, property damage, and accidents that may occur during transport
Semi-trucks–Commercial auto insurance is needed for these vehicles due to their size, weight, and lengthy driving hours
Delivery companies–This coverage protects their delivery vehicles and personnel against potential accidents, property damage, and liability claims that may occur during delivery operations
|Year||Fatal crashes||Injury crashes||Property damage crashes||Total crashes||Total of all fatalities||Total number injured|
The data represents car incidents in Maryland from 2017 to 2021. The annual number of fatal injuries, property damage, and total collisions is consistent, according to the data. Despite periodic fluctuations, Maryland's vehicle insurance demand, especially commercial auto insurance, is rising.
Due to the frequent crashes that cause fatalities, injuries, and property damage, this coverage is important. Auto insurance covers accident-related medical expenditures, vehicle repairs, and legal penalties. Business owners require Maryland commercial auto insurance to secure their assets and limit their liability in auto-related mishaps.
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You must have the basic minimum of auto insurance to drive in Maryland. Your auto lender may require additional coverage. Maryland commercial auto insurance protects you legally. Commercial auto insurance MD ensures legal operation and adequate coverage.
Liability insurance–Pays for bodily injury or property damage to a third party caused by negligent driving. If the collision was caused by a family member or someone with permission to use your vehicle, it may pay. The minimum liability limitations for bodily injury and property damage in Maryland are 30/60/15, or $30,000 per person, $60,000 per accident, and $15,000 per accident. Consider considering higher limits to safeguard your assets. Higher limits are available for a premium surcharge
Uninsured motorist–After any applicable deductible, this coverage covers bodily injury and property damage caused by an uninsured motorist, including a hit-and-run offender. Maryland's uninsured driver coverage limitations for bodily injury are $30,000 per person, $60,000 per accident, and $15,000 per person for property damage
Personal injury protection–In a covered accident, this pays up to $2,500 for your and your passenger's medical bills and lost income. Personal Injury protection covers medical expenses regardless of fault
In exchange for a lower premium, Personal Injury Protection may be waived; however, household relatives under 16 and specific individuals remain covered.
Managing commercial auto insurance and lowering premiums requires solutions considering business needs and vehicle utilization. Here are several strategies that might be useful:
Assess your coverage requirements–Examine your current commercial auto insurance policy to ensure you have adequate coverage for your company. Identify any unnecessary coverage or prospective insurance gaps that can be modified to optimize your coverage.
Maintain a clean driving record–Encourage your chauffeurs to maintain a clean driving record by providing frequent training, emphasizing safe driving behaviors, and implementing a driver monitoring system. Typically, insurance companies offer reduced premiums to businesses with fewer accidents and violations.
Develop and implement comprehensive risk management strategies–Vehicle maintenance schedules, driver safety programs, and accident/incident reporting requirements. Insurance companies may offer discounts or lower premiums to businesses that demonstrate proactive risk management
Consider telematics or usage-based insurance–Telematics devices and usage-based insurance systems can monitor driver behavior and vehicle usage. These technologies can provide vital data to insurance companies, enabling them to assess risk accurately. If your driving record demonstrates safe driving, you may be eligible for lower premiums.
Increase deductibles–Consider increasing your deductibles if your business reasonably assumes a larger portion of the financial risk. In most cases, higher deductibles result in lower premium costs. However, maintain your deductibles within a budget-friendly range.
Bundle insurance policies–Many insurance firms provide savings for purchasing numerous policies, such as business car, general liability, and property insurance. If you consolidate your coverage with one insurer, your premiums may decrease.
Shop around and compare quotes–Do not choose the first insurance company you encounter. Obtaining estimates from multiple insurance providers to compare coverage options and costs. Consider the insurer's reputation and financial stability when making your selection.
Maintain good credit–In some regions, insurers may consider your business's credit rating when determining premiums. Maintaining a good credit score can save you money on insurance premiums. Review your credit report regularly and rectify any issues as soon as possible.
Install anti-theft and safety features–Safety and anti-theft features in work vehicles help decrease accidents and theft. Such precautions may qualify for discounts from insurance companies.
Review and renew your policy annually–As your business grows, your commercial auto insurance requirements may change. Conduct a yearly review of your policy to ensure that it continues to reflect your current operations and coverage requirements. Eliminating unnecessary coverage and modifying policy limitations can reduce premiums.
Commercial auto insurance in Maryland, as in most other states, contains numerous important components to safeguard businesses that use autos. The following are components of Maryland commercial auto insurance:
Liability coverage–This policy protects you against bodily injury and property damage responsibility if your commercial vehicle causes an accident. Medical, legal, and damage compensation are provided
Personal injury protection–Regardless of fault, this insurance covers medical bills, missed wages, and other accident-related costs
Uninsured/underinsured motorist coverage–If you crash with an uninsured or underinsured driver, you need this coverage. It safeguards you and your business by covering medical costs and property damage
Collision coverage–This component pays for repairs or replacement of your commercial vehicle in case of a collision, regardless of who was at fault
Comprehensive coverage–This coverage protects your commercial vehicle against damages other than collisions, such as larceny, vandalism, and natural disasters
Medical Payments coverage–Similar to Personal Injury Protection, medical payments coverage pays for medical expenses incurred due to injuries sustained in a commercial vehicle accident
Cargo coverage–If your business transports commodities or products, cargo coverage safeguards the cargo's value in loss or damage
Depending on your business demands, your commercial auto insurance coverage may need endorsements or add-ons.The following are a few you may want to consider:
Towing–Maryland auto insurance offers 24-hour towing and roadside assistance through Nation Safe Drivers, the nation's leading emergency roadside service provider. This towing and roadside assistance coverage provides 24/7 emergency services (up to 15 miles free), tire replacement, battery charge, locksmith service, and delivery of essential supplies like petrol, oil, and coolant. Maryland comprehensive and accident private passenger auto plans can use this service.
Collision–Pays for damages to your vehicle caused by a collision with another vehicle or object.
Comprehensive–Covers damage to your vehicle from nearly all causes besides a collision, including theft, fire, hail, and animals.
Rental–If you must rent a car because of a covered accident, rental coverage ays up to $25 per day, up to a maximum of $750 per claim.
Business auto insurance in Maryland is $28 per month or $336 per year for a $1 million auto liability coverage. Get a further idea of the cost of commercial auto insurance MD through this table that shows how much the best companies charge for a $1 million auto liability insurance:
|Insurance company||Cost per Month||Cost per Year||Best for|
|NEXT||$12||$144||Best overall; Fastest commercial auto insurance|
|CoverWallet||$16||$192||Comparing commercial auto insurance quotes online|
|The Hartford||$18||$216||Trucking businesses|
|Tivly||$20||$240||Comparing commercial auto insurance quotes over the phone|
|Thimble||$23||$276||Offering on-demand coverage|
|Hiscox||$26||$312||Industry-specific insurance solutions|
Several factors influence the cost of commercial auto insurance in Maryland and elsewhere. These factors include:
Coverage limitations–The quantity of coverage you require will affect your premium. Policyholders with state minimum limits of 30/60/15 in Maryland will pay less than those who require a $1M combined single limit
Vehicle–The size and purpose of your vehicle influences your rate. A large food truck equipped with a griddle and deep fryer will almost certainly command a higher price than a modest bakery delivery van with fewer amenities
Profession–Certain industries are more hazardous than others. A painter who daily transports tools and equipment to multiple job sites may expect to be compensated more than an accountant who occasionally runs duties
Driving history–Your commercial auto insurance provider will run a motor vehicle report on all drivers accessing your business's vehicles. Typically, drivers with accidents or violations on their driving record will increase their insurance premiums. Your insurance company will review your driving record for the past three years
Location–Larger cities like Baltimore charge more for commercial auto insurance than smaller cities like Gaithersburg. Remember that areas with more claims or costly settlements have higher prices than others. In addition, weather-related phenomena like hurricanes and floods play a role
Distance traveled–The distance you travel frequently can affect the cost of your commercial auto insurance. A vehicle with a local route within the municipal limits of Baltimore is regarded as less dangerous than one with a regional route that encompasses the entirety of Central Maryland
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Consider working with these companies for the best commercial auto insurance in Maryland. Read reviews below for their pros, cons, and average rate for a $1 million auto liability coverage.
Issues an online proof of insurance instantly
Fastest commercial auto insurance
Great customer service and reputation
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT, a digital-first insurer seeks to simplify the insurance process for small businesses by offering a user-friendly online platform where consumers can acquire rates, purchase policies, manage coverage, and file claims. They operate as a digital-first company, leveraging technology to simplify the insurance application process and provide competitive rates.
Best for: Best overall; Fastest commercial auto insurance
Average cost: $12 per month
Our rating: 10/10
CoverWallet offers a user-friendly online platform for comparing and purchasing insurance policies for enterprises
They Partner with multiple insurance companies, allowing them to provide various coverage options.
They provide insurance recommendations based on the nature, size, and other relevant factors of a business
Not an insurance company but an insurance broker
CoverWallet is an online insurance platform providing small enterprises with various insurance options. It provides a digital interface for comparing quotes, purchasing policies, and managing insurance coverage for enterprises. CoverWallet offers guidance to help businesses choose the right policies for their needs.
Best for: Comparing commercial auto insurance quotes online
Average cost: $16 per month
Our rating: 10/10
They have an excellent customer service team that can assist with policy inquiries, claims processing, and insurance process guidance
Provides a variety of insurance products, such as auto insurance, home insurance, and business insurance, among others
Hartford has a long track record and extensive insurance industry experience
It may not provide the same level of online functionality or self-service options as newer insurance companies with a digital focus
The Hartford is a well-known insurance company offering various insurance products and services to individuals, businesses, and organizations. Due to its over 200 years of experience in the insurance market, Hartford enjoys a solid reputation. They protect numerous fields, including property and casualty insurance, corporate benefits, and mutual funds.
Best for: Trucking businesses
Average cost: $18 per month
Our rating: 10/10
It has responsive customer service that ensures efficient communication, addresses specific coverage requirements, and facilitates prompt decision-making
Provides commercial auto insurance seekers with access to a variety of policies from reputable insurers
Tivly does not offer online policy management tools
Tivly offers commercial insurance online from trustworthy insurers. Businesses can find the right insurance products on their website. Tivly's marketing and insurance technology services streamline business-insurer connections. Live customer support and interaction allow firms to get personalized help when needed. Tivly delivers commercial auto insurance to boost productivity, conversions, and income. Call now to compare quotes over the phone.
Best for: Comparing commercial auto insurance quotes over the phone
Average cost: $20 per month
Our rating: 9/10
Thimble provides flexible coverage options, allowing policyholders to purchase insurance for hourly, daily, and monthly
They have a user-friendly mobile app or online platform, making it simple and convenient for consumers to obtain insurance
They provide coverage tailored to specific industries or professions, allowing policyholders to choose the insurance protections most pertinent to their business or work
Thimble may offer a different level of industry specialization than their larger counterparts
Thimble is an insurance technology company offering on-demand insurance to small enterprises and independent contractors. They offer flexible coverage options, permitting policyholders to purchase insurance for specific periods, such as hourly, daily, or monthly. Thimble seeks to offer affordable and accessible insurance options.
Best for: Offering on-demand coverage
Average cost: $23 per month
Our rating: 9/10
Enables consumers to tailor their insurance policies to their particular needs
Their financial stability provides policyholders with ease of mind
Provides an online platform for both individuals and businesses to obtain insurance quotes
Their reach may be limited in particular regions of the state
Hiscox is a global specialty insurance company that offers a variety of insurance products to both individuals and enterprises. Hiscox caters to many businesses and professions, emphasizing providing individualized coverage for specific risks.
Best for: Industry-specific insurance solutions
Average cost: $26 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow