Missouri Commercial Auto Insurance: Quotes From $37/mo

Operating a fleet or using vehicles for business purposes involves inherent risks with substantial financial and operational consequences. Commercial auto insurance protects your business from liability and maintains operations.

Accidents can occur at any time, resulting in property loss, bodily harm, and legal claims. If your vehicles and drivers are insured, you can travel confidently and safely. If something goes wrong, your insurance policy will cover repairs, medical expenses, legal fees, and other losses, easing the financial burden on your business.

Commercial auto insurance demonstrates to your customers, partners, and other stakeholders that you conduct business in an ethical manner. Protect your operations immediately by insuring your business vehicles with Missouri commercial auto insurance.

What is Commercial Auto Insurance?

Commercial auto insurance is a specialized insurance policy that provides coverage for vehicles used in business operations.. It protects businesses from financial losses caused by accidents, damage, or theft of company-owned, leased, or business-use vehicles. Commercial auto insurance typically covers bodily injury and property damage liability, insured vehicle physical damage, uninsured/underinsured motorist coverage, medical payments, and non-owned and hired vehicles. To protect their assets, employees, and liabilities, businesses need commercial auto insurance.

Auto Accident Statistics in Missouri

The following tables provide information on various types of accidents and their respective causes over a ten-year period.

Commercial Motor Vehicle Accidents

Accidents Involving Speed

Crashes Involving Young Drivers (Under 21 Years of Age)

Crashes Involving Older Drivers (55 Years and Older)

Motorcycle Accidents

Missouri Commercial Auto Insurance Requirements

Liability limits for commercial auto insurance in Missouri:

• $25,000 per person for bodily injury

• $50,000 per accident for bodily injury

• $25,000 for property damage

• Every vehicle must carry uninsured motorist coverage. It helps pay your medical expenses if you are injured in an accident caused by an uninsured motorist or a hit-and-run driver.

Due to the types of vehicles they insure, some policies must include tighter limitations.

Importance of Complying With Missouri’s Commercial Auto Insurance Regulations

Compliance with state regulations governing commercial auto insurance is crucial for Missouri businesses. Here are several of the most crucial reasons why compliance is essential:

• Legal requirement–Missouri requires liability insurance for commercial vehicles. Businesses can avoid penalties, fines, and closure by following these rules. Noncompliance can damage a company's reputation, finances, and operations.

• Financial protection–Commercial auto insurance protects businesses against accidents, property damage, and injuries. Businesses can handle claims and protect their assets by following state legislation and maintaining minimum liability limits. Insufficient coverage can cost a firm money and lead to legal action.

• Employee and third-party protection–Commercial auto insurance protects the firm, employees, and third-party passengers. Adequate liability coverage guarantees that injured parties obtain medical care and compensation, decreasing financial burdens and safeguarding the business's reputation.

• Uninsured motorist coverage–Missouri commercial auto insurance policies must include UM. This coverage helps pay medical bills after a collision with an uninsured or hit-and-run driver. UM coverage shields employees and the company against uninsured parties.

• Peace of mind and business continuity–Business owners can rest easy knowing they've met commercial car insurance regulations and are covered. It lets them run their businesses without worrying about legal and financial consequences.

Components of Missouri Commercial Auto Insurance

Commercial auto insurance in Missouri consists of the following coverages:

• Liability coverage–This coverage is mandated by law and provides financial protection if you or your employees cause bodily injury or property damage to others in an accident. The minimum liability limits in Missouri are $25,000 per person, $50,000 per accident for bodily injury, and $25,000 for property damage.

• Uninsured/Underinsured motorist coverage–This coverage is also mandatory in Missouri. It helps cover medical costs if you or your employees are injured in an accident caused by an uninsured or underinsured driver, or a hit-and-run.

• Physical damage coverage–It is optional, but highly recommended. It includes collision coverage, which pays for damages to your commercial vehicle in the event of an accident, and comprehensive coverage, which covers damages caused by non-collision incidents like theft, vandalism, or natural disasters.

• Medical payments coverage–This coverage pays for your and your passengers' medical expenses in the event of an accident, regardless of fault.

• Hired and non-owned auto coverage–If your business rents or leases vehicles or employees use their vehicles for work, this coverage provides liability protection for those vehicles.

• Cargo coverage–If your business involves transporting products or cargo, this coverage safeguards the cargo's value in the event of damage or theft.

Add-Ons to Missouri Commercial Auto Insurance

Add-ons allow you to enjoy more protection. Here are some you can include in Missouri commercial auto insurance:

• Towing and roadside assistance–This add-on covers emergency roadside services such as towing, jump-starts, lockout assistance, and fuel delivery.

• Equipment and tools coverage–If your business uses specialized equipment or tools that are permanently affixed to a commercial vehicle, this coverage protects their value in the event of theft or damage

• Non-owned trailer coverage–This coverage extends liability protection to trailers that are not owned by your company while they are affixed to your commercial vehicle

Common Professions That Need Commercial Auto Insurance

Due to the nature of their business operations, several Missouri professions typically require commercial auto insurance. Included among these professions are:

• Contractor–General contractors, electricians, plumbers, landscapers, and other construction-related professionals frequently need commercial auto insurance to safeguard their vehicles used for transportation to and from job sites, transporting equipment, and transporting materials.

• Delivery services–Businesses engaged in package delivery, food delivery, courier services, and online retail typically require commercial auto insurance to protect their vehicles while making deliveries.

• Transportation and logistics–Trucking companies, freight carriers, and logistics providers that transport goods and cargo within Missouri or across state lines typically require commercial auto insurance to secure their fleets and comply with federal regulations.

• Service professionals–Locksmiths, mobile mechanics, home healthcare providers, and mobile pet groomers who use their vehicles to travel to clients' locations typically require commercial auto insurance to cover liability and property damage risks.

• Sales representatives–Sales Representatives Sales representatives, both independent and employed, who use their vehicles frequently for business purposes, such as visiting clients, attending meetings, and making sales calls, may require commercial auto insurance.

• Taxis and rideshare drivers–Taxi operators and drivers for ridesharing platforms such as Uber and Lyft are typically required to carry commercial auto insurance to cover their vehicles while operating as commercial transportation services.

• Nonprofit and community organizations–Non-profit and community organizations that operate vans or buses for transportation purposes, such as transporting members, participants, or volunteers, may be required to carry commercial auto insurance.

Missouri Commercial Auto Insurance Cost

Commercial auto insurance in Kansas City, MO and other areas is $37 per month or $444 per year for a $1 million auto liability coverage.  Several factors, including location, influence the cost of coverage. The location can affect your insurance premiums if you operate a business in Kansas City, Missouri. Insurers consider factors such as local traffic patterns, accidents, and crime rates when assessing risk. 

Factors That Affects the Cost of Your Missouri Commercial Auto Policy

Some factors that affect the cost of commercial auto insurance in Missouri are:

• Coverage limitations–The quantity of coverage you require will affect your premium. Policyholders who require a $1M combined single limit will pay less than those who require the state minimum limits of 25/50/25 in Missouri.

• Location–It is typical for larger cities, such as Kansas City, to charge more for commercial auto insurance than smaller cities, such as Branson. Keep in mind that areas with more claims or more costly settlements tend to have higher prices than other areas. Floods and tornadoes, among other natural disasters, may also be a factor.

• Distance traveled–The distance you travel frequently can affect the cost of your commercial auto insurance. A vehicle with a local route within the metropolitan area of Jefferson City is regarded as less hazardous than one with a regional route covering the entire state of Missouri.

• Vehicle–Your rate is influenced by the size and purpose of your vehicle. A carpet cleaning vehicle with a vacuum system attached will almost certainly be more expensive than a small delivery van with limited equipment.

• Driving history–Your commercial auto insurance provider will run a motor vehicle report on all drivers who have access to your business's vehicles. Typically, drivers with accidents or violations on their driving record will increase your insurance premium. You can expect your insurance company to evaluate your driving record over the past three years.