Nebraska Commercial Auto Insurance: Quotes From $40/mo

As of 2022, Nebraska had a GDP of $123.54 billion. Its vast industrial sectors, with fishery, forestry, finance, agriculture, manufacturing, and insurance, contribute to Nebraska’s stable economic conditions. This GDP has made Nebraska a magnet for investors. You can ensure that your business grows and its activities remain uninterrupted by purchasing commercial auto insurance in Nebraska. Read on to learn what this policy is, who needs it, what it covers and doesn’t cover, and what add-ons you can purchase.

Auto Accident Statistics in Nebraska

According to data published by the Nebraska Department of Transportation, at least one auto crash occurs every 18 minutes, and 36,706 crashes annually. The number of auto-related fatalities recorded in a year in Nebraska is 30,000.


What is Commercial Auto Insurance?

It’s also referred to as business auto insurance and commercial vehicle insurance. This business policy shields you from any financial constraint your business may be subjected to if it gets into an accident with another vehicle or hit by an object. It also protects you from incurring the costs of repairing or replacing your business vehicle in the event it gets damaged by fire, theft, vandalism, weather-related incidents, and natural catastrophes. 

Through this commercial auto insurance Nebraska, you are exempted from incurring legal expenses and any third-party bodily injury and property damages liability when you are the at-fault driver. Vehicles commonly insured under this policy include:

  • Box trucks

  • Cargo and freight trucks

  • Cars

  • Catering trucks

  • Dump trucks

  • Food delivery trucks

  • Forklifts

  • Pickup trucks

  • Refrigerator trucks

  • SUVs

  • Tempos

Who Should Purchase NE Commercial Auto Insurance?

You should purchase NE commercial auto insurance you own a;

  • Auto repair shop

  • Tow truck operator

  • Mining company

  • Auto restoration company

  • Cargo or freight vehicles

  • Caterer

  • Ride-share driver

  • Tourist excursion company

  • General contractor

  • Ride-hailing company

Nebraska Commercial Auto Insurance Requirements

In Nebraska, you are required by law to have the following insurance requirements:

  • Bodily injury liability minimum $25,000 per individual.

  • Minimum bodily injury liability limit of $50,000 per accident

  • Minimum property damage liability limit of $25,000

  • Purchase an uninsured motorist and underinsured motorist coverage

Important to note is that your certificate of insurance must contain the following information for it to be certified by the Nebraska Department of Transportation:

  • The name of your insurance provider must be authorized to provide coverage in Nebraska

  • Your official names

  • Policy number

  • The year, make, and model of your insured vehicle

  • The dates when your commercial auto insurance policy became or will become effective and when it will expire

  • You must always present your original COI issued by a Nebraska-authorized insurance company. No photocopies are allowed

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Components of Nebraska Commercial Auto Insurance

NE commercial auto insurance components include:

  • Bodily injury liability–Pays for any third-party bodily injuries and sometimes deaths you are liable for. It also provides you with legal expense coverage

  • Property damage liability–Exempts you from being liable to third-party property damages caused by you or your insured employee/driver. You can use this to cover property repair or replacement costs

  • Medical payments coverage–Covers the medical bills for everyone in your vehicle, which sustains auto-related injuries regardless of who is at fault

  • Uninsured or underinsured motorist coverage–Covers your medical expenses and your vehicle’s repair costs after you get into an accident with a motorist who doesn’t have insurance coverage or one who doesn’t have enough coverage

  • Collision coverage–Provides financial assistance if your vehicle is damaged due to a collision with another object or vehicle.

  • Comprehensive coverage–Exempts you from incurring the cost of repairing your commercial vehicle after non-collision events have damaged it. Such events include fire, theft, vandalism, weather-related events, and natural calamities.

Add-Ons to Nebraska Commercial Auto Insurance

Below are some of the highly recommended NE commercial auto insurance add-ons:


Consumables Cover

Consumables coverage takes care of the costs of replacing or repairing your commercial vehicle bolts, bearings, nuts, screen washers, AC gas, brake, and engine oil. This add-on only covers vehicles that are less than 3 years old.


Disappearing or Vanishing Deductible

Under this add-on, your specified auto deductible is lowered or decreased by a certain amount each year, provided you maintain a clean driving record. That is, you don’t cause any accidents or violate traffic laws.


Engine Protect Cover

This add-on provides financial assistance if your vehicle’s engine or parts are damaged by water ingress or accidental leakage of lubricant oil. This add-on is most beneficial to business owners who operate in areas prone to flooding.


First Accident Forgiveness

This add-on ensures that your commercial auto insurance premium rate remains constant after your first accident.


Key and Lock Replacement Cover

This add-on compensates you for the costs incurred in replacing your lost or stolen keys or repairing your damaged lock following an attempted burglary or break-in.


Loss of Personal Belongings Cover

Your personal property or items are not covered under your standard commercial auto insurance policy. Thus, it’s important that you purchase this add-on if you frequently travel with your hard-to-repair or replace personal belongings. Through this add-on, your insurer will compensate you for the loss or damage of your personal property that was present in your commercial vehicle.


On-Hook Towing Insurance

If you use your commercial vehicle for towing, then purchase this add-on. This will exempt you from incurring the costs of repairing or replacing your client’s vehicle if it gets damaged during towing.


Return to Invoice Coverage

If your commercial vehicle is stolen or destroyed beyond repair, your insurer will pay you an amount equal to your vehicle’s invoice or original value. That is, they will pay you the actual amount of money you bought your vehicle at. Your insurer will also compensate you for the paid road tax amount and your vehicle’s registration cost.


Roadside Assistance Cover

You are exempted from incurring emergency services costs in the event your vehicle breakdown while you are on the road. Some of the 24/7 emergency services costs covered under this policy include fuel delivery, towing labor, flat tire change, organizing an alternative transportation means, and battery jump-start.


Zero Depreciation Cover

Under this add-on, you are covered against the cost of replacing your depreciated commercial vehicle parts with the depreciation value excluded.


Two heavy equipment vehicles.


Incidences When You Can Use Commercial Auto Insurance Nebraska

Here are incidents where you can use commercial auto insurance:

  • When your commercial vehicle is damaged following a collision with another vehicle or object

  • When your commercial vehicle is damaged by some weather-related events such as floods and lightning

  • When your business vehicle is damaged by some natural calamities such as landslides and tornadoes

  • When you are the at-fault driver who causes third-party bodily injuries or death

  • When you cause third-party property damages with your commercial vehicle

  • When you or the passengers traveling in your business vehicle sustain auto-related injuries and you want your insurer to cater for your medical expenses

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Nebraska Commercial Auto Insurance Cost

Commercial auto insurance in Nebraska is $40 per month or $480 per year for a $1 million auto liability coverage. Factors that affect premiums are claims history, business history, policy limits, deductibles, and more. Here’s a table showing the rates of a $1 million auto liability coverage from the best companies:

Cost per Month Cost per Year Best for
NEXT $19 $228 Best overall; Fastest commercial auto insurance
CoverWallet $22 $264 Comparing commercial auto insurance quotes online
The Hartford $25 $300 Established Nebraska business owners who own fleets of commercial vehicles
Tivly $27 $324 Comparing commercial auto insurance quotes over the phone
Thimble $29 $348 Nebraska business owners who operate seasonally or on-call
Hiscox $33 $396 Business owners outside Nebraska and those in high-risk business operations


Factors That Determine Commercial Auto Insurance Nebraska Premiums

Below are some of the factors that influence how much you will pay for your Nebraska commercial auto insurance:


Deductibles in Your Policy

The amount of deductibles in your policy directly influences your premium rates. The higher your deductibles are, the lower your premium rates will be.


The Distance Your Commercial Car Covers

The mileage your commercial vehicle covers in a day determines the cost of your Nebraska commercial auto insurance policy. The more distance you cover with your commercial vehicle, the higher your premium rates will be.


What Do You Use Your Commercial Vehicle

The type of activities or operations you use your vehicle for greatly influences your premium rate. Suppose you use your business vehicle to conduct risky activities such as mining. In that case, you should expect to pay more than another person who uses their commercial vehicle for food or flower delivery.


You and Your Employees Driving History

If you or your employees have a ‘bad’ driving history, you will most likely pay a higher premium rate than a driver with a clean/good driving history. Your driving history is assessed by checking the number of accidents you have caused and the number of times you have violated Nebraska’s traffic laws within the last three to five years.

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Best Nebraska Commercial Auto Insurance Companies

Here are the companies you should consider working with for commercial auto insurance in Nebraska. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy:


NEXT

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest commercial auto insurance

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any 

NEXT is a privately traded online insurance company. The AM Best has rated this California-based insurer as an A- grade. Thanks to its technological innovation and implementation, NEXT policyholders can purchase and manage their policies online 24/7. Accessing your COI online and sharing it with others for free is also possible. Policyholders can purchase specific or bundled policies from this small-scale business owners’ specialist.

Best for: Best overall; Fastest commercial auto insurance 

Average cost: $19 per month

Our rating: 10/10


CoverWallet

Pros

  • Its licensed insurance advisors/agents provide free expert insurance advice to its customers

  • You can check your claims billing information online

  • Provides you with instant proof of insurance

  • All its policies are managed in one location

Cons

  • It’s rated a B grade by the Better Business Bureau (BBB)

CoverWallet is an online USA-based insurance company. This Aon PLC-owned insurer specializes in facilitating its customers with the accusation of business insurance policies and quotes from its partnered insurance companies. Through its website, CoverWallet assesses the type of coverage your business requires, this is after you fill in your basic information. CoverWallet deals in both general and specialized business insurance policies.

Best for: Comparing commercial auto insurance quotes online 

Average cost: $22 per month

Our rating:  10/10


The Hartford

Pros

  • Its premium rates remain constant throughout the year

  • Provides discounts to drivers of ages 50 and above

  • Its policies have a lifetime renewability

  • Provides commercial auto insurance add-ons

  • Wide range of discounts

Cons

  • Not suitable for drivers with a ‘bad’ driving history

The Hartford is a public USA-based insurance company that was established in 1810. This long-standing insurer specializes in providing a wide array of insurance policies to AARP members. Apart from providing coverage, this A+ AM Best-rated insurer provides financial services to its clientele across the USA. 

The Hartford sells both personal and commercial insurance policies. Its ability to provide its clientele with a wide range of commercial auto insurance discounts, benefits, and add-ons makes this 200-year-old insurer one of the best Nebraska commercial auto insurance companies.

Best for: Established Nebraska business owners who own fleets of commercial vehicles

Average cost: $25 per month

Our rating: 10/10


Tivly

Pros

  • Time-saving

  • Has partnered with over 200 insurance carriers

  • Its policies are competitively priced

  • Matches you with the best insurance company

Cons

  • You need to call to compare quotes

Tivly is an online Oklahoma-based insurance agency that was founded in 2009. The Aquiline Capital Partners financially backs this privately owned insurance company. Tivly is an accredited member of BBB. The BBB also rates this premium insurance agency an A grade. Call now to compare quotes over the phone. 

Best for: Comparing commercial auto insurance quotes over the phone 

Average cost: $27 per month

Our rating: 9/10


Thimble

Pros

  • Its coverage plans are scalable and flexible

  • Provides fast quotation process

  • Has developed a fully functional mobile app

Cons

  • It’s yet to underwrite its commercial auto insurance

In 2016, Jay Bregman and Eugene Hertz founded Thimble. Initially, this A AM Best-rated insurer only sold drone insurance policies. But as of today, Thimble has expanded its coverage options to provide more than 9 types of insurance policies. Thimble provides coverage to more than 60,000 small-scale business owners in all 50 states of the USA. Thimble doesn’t sell commercial auto insurance policies. Instead, it refers its clients to Tivly.

Best for: Nebraska business owners who operate seasonally or on-call

Average cost: $29 per month

Our rating: 9/10


Hiscox

Pros

  • Provides coverage to 49 states

  • Rated excellent by BBB and AM Best

  • Long-standing insurance carrier

  • Operates globally

Cons

  • Coverage unavailable in Alaska

Hiscox is an online insurance company headquartered in Bermuda, United Kingdom. This insurer provides small business owners with professional liability insurance. Through its partnership with CyberPolicy insurance company, this 122-year-old insurer provides its customers with commercial auto insurance, workers comp insurance, umbrella insurance, and employment practices liability insurance coverage.  Hiscox has partnered with Thimble to provide its customers with short-term and temporary coverage.

Best for: Business owners outside Nebraska and those in high-risk business operations

Average cost: $33 per month

Our rating:  9/10

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