Nevada Commercial Auto Insurance: Quotes From $32/mo

Nevada has a reputation for some of the country’s worst auto insurance rates. A study found that they ranked as the sixth worse state for road rage in the US. As a Nevada business owner, you must have a commercial property insurance policy to protect your vehicles from risks on the road. Commercial auto insurance is one of the best ways to protect yourself from liability and vehicle damage. This article will look at the unique aspects of Nevada commercial auto insurance, including cost, components, and add-ons.

What is Commercial Auto Insurance?

Commercial auto insurance is a policy that protect your business from financial losses that result from operating vehicles. Your commercial auto policy typically must have liability coverage and will often cover damage to your vehicles. Liability coverage will protect you against the costs of paying for bodily injury and property damage to another party.


Auto Accident Statistics in Nevada

Auto accidents may be more common than you think they are in Nevada. Below are a few notable Nevada auto accident statistics. This comes from the Nevada Department of Transportation crash map from 2016-2020.

Total Crashes 237, 338
Crashes that resulted in only property damage 135,789
Injury crashes 100,060
Fatal crashes 1,489
Urban fatal crashes 70%
Rural crashes 30%


Auto Accidents in Las Vegas

According to the official data, Las Vegas has the most significant number of crashes in the state. It is highly recommended that you purchase a commercial auto insurance policy las vegas nv, because of the potential risk to your business that increased accident rates cause.

The Las Vegas Review-Journal estimates that car insurance in Nevada has some of the highest insurance rates in the US. The increased rates of commercial auto insurance las vegas nv exist because of the 24/7 type of economy that drives activity in the densely populated centers of Las Vegas.  The article blames Nevada’s high cost of car insurance on Las Vegas insurance customers, driving up the price for the rest of the state.


Components of Nevada Commercial Auto Insurance

Below are some of the standard core components for Nevada commercial auto insurance policies.


Auto Liability Coverage

Your auto liability insurance is split into two coverages bodily injury, and property damage. Bodily injury helps you pay for medical bills for injuries your vehicles cause. Property damage will pay for damage to property like other vehicles, buildings, and road objects.


Medical Payment Coverage

A medical payment policy will pay out medical costs to the drivers and passengers of your vehicles. You get these payouts regardless of who is at fault. This policy is a good option for getting prompt payouts instead trying to sue someone else for medical costs they are responsible for.


Collision Coverage

Your collision coverage will protect your vehicle from the damage of collisions.. Some covered examples include:

  • Other vehicles on the road

  • Your vehicle overturning

  • Road objects

  • Stationary objects

  • Collisions when your vehicle is parked

Comprehensive Coverage

An insurance policy with comprehensive coverage will help protect your vehicle from other causes of damage besides collisions. Examples include:

  • Theft

  • Vandalism

  • Intense weather

  • Fire

  • Breaking glass

  • Hitting an animal

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Add-Ons to Nevada Commercial Auto Insurance

Nevada commercial auto issuance can be further customized through add-ons. These add-ons offer additional events that you can cover.


Auto Glass Coverage

An auto glass policy is sometimes called a windshield shield. This policy can protect damaged or repaired windshields for just a few dollars a month. If you already have comprehensive coverage, you will not need this policy.


Gap Coverage

This policy protects vehicles you have financed. If your loan payments exceed the payout from a damaged vehicle, this policy will help you make up the difference. Since financed vehicles accumulate interest, there is often a gap in coverage between the value of your vehicle and how much you still owe on it.


Rental Reimbursement Coverage

Rental reimbursement insurance helps you pay for the costs of rented vehicles. You may need to rent vehicles if one of your business vehicles has been in an accident and you are waiting for repairs or a replacement.


Uninsured Motorist Coverage

This protects you if another driver’s insurance can not adequately pay for losses the cause. This policy will help you pay for medical bills in cases where the other driver hits and runs.


Roadside Assistance Coverage

This add-on will help you pay for and coordinate services for vehicles that break down. This policy will include things like towing costs and other roadside services.


Workers loading product into a work van.


Nevada Commercial Auto Insurance Requirements

Nevada commercial auto insurance requires vehicle operators to have certain types and levels of coverage in their policies. Any policy that you buy in Nevada will have the following component requirements.


Auto Liability

Nevada has a bodily injury and property damage auto liability requirements of 25/50/20.

Bodily injury per person Bodily injury per accident Property damage per accident
$25,000 $50,000 $20,000


Some commercial auto insurance policies can have a combined single limit. This policy combines the limit for bodily injury and property damage. In this case, Nevada requires at least $95,000 per accident.


Medical Payments

Nevada requires all auto insurance policies to offer customers medical payment coverage of at least $1,000. However, you can reject this coverage if you do not want it. 


Garage Liability

Some industries in Nevada are allowed you to have a garage liability policy instead of a commercial auto policy in some situations. These industries include:

  • Car dealers

  • Manufacturers

  • Transporters

  • Rebuilders

  • Distributors

  • Body shops

  • Professional drive schools

  • Salvage pools

  • Wreckers

  • Trailer dealers

Your garage liability policy will still need the same liability coverage of 25/50/20 or a combined single limit of $95,000.


Total Loss in Nevada Commercial Auto Insurance

In vehicle insurance, a total loss is when the value of your car is exceeded by the damages done to it. Insurers determine the value of your vehicle through a calculation called actual cash value. Actual cash value is the value of the vehicle minus depreciation costs. As the cost of your vehicle goes down, it may not be worth the money to buy optional coverages to protect it from damage. 

You will want to consider investing in a new vehicle at a certain point. Older vehicles may be expensive to repair at the end of their lifespans. Sometimes that money can be better spent putting a down payment on a new vehicle than paying the cost to repair the older one.


Nevada Commercial Auto Insurance Exclusions

Commercial auto insurance in Nevada has many different types of coverage. The list of policy coverage can be daunting to first-time buyers. However, please note that some events are typically excluded from your policy. These events include:

  • Handling property: Business property damage not in the process of loading and unloading will often not be covered. Be careful not to assume your policy will protect these events.

  • War Events: If a military conflict or rebellion breaks out, it will typically be excluded from coverage.

  • Pollution spills: You will not be covered if you are transporting hazardous materials and causing a pollution event. This event will be covered under a pollution liability insurance policy, which may be purchased as an endorsement or separately. However, your commercial auto insurance will cover pollution from reasonable events like oil and gasoline leaks. This is because these materials are inherent to the vehicle’s operation.

  • Intentional and inherently risky acts: Some policies will not cover the damage if one of your employees is driving while intoxicated or impaired. Also, intentional acts likely to damage the vehicle or others will not be covered.

Nevada Commercial Auto Insurance Exclusions

Commercial auto insurance in Nevada has many different types of coverage. The list of policy coverage can be daunting to first-time buyers. However, please note that some events are typically excluded from your policy. These events include:

  • Handling property:  Business property damage not in the process of loading and unloading will often not be covered. Be careful not to assume your policy will protect these events.

  • War events: If a military conflict or rebellion breaks out, it will typically be excluded from coverage.

  • Pollution spills: You will not be covered if you are transporting hazardous materials and causing a pollution event. This event will be covered under a pollution liability insurance policy, which may be purchased as an endorsement or separately. However, your commercial auto insurance will cover pollution from reasonable events like oil and gasoline leaks. This is because these materials are inherent to the vehicle’s operation.

  • Intentional and inherently risky acts: Some policies will not cover the damage if one of your employees is driving while intoxicated or impaired. Also, intentional acts likely to damage the vehicle or others will not be covered.

Is Nevada a No-fault State?

No. Nevada is an at-fault state. This means the onus of injuries in an accident falls on the party that is at fault. In Nevada, you are not required to purchase no-fault insurance, also called personal injury protection. In an at-fault state, the liable party’s insurers will pay out benefits to the injured party.


What Affects the Cost of My Nevada Commercial Auto Insurance?

Your insurance company will take several factors into account when deciding the cost of your insurance. These factors include:

  • Your driving record

  • Previous insurance claims

  • The area your business operates in.

  • Your credit history

  • The make and model of your commercial vehicles

What is a Deductible, and How Does it Affect My Nevada Commercial Auto Insurance Costs?

A deductible is the money you must pay before an insurance company starts covering events. For example, you have a repair bill of $1,500 and a deductible of $1,000. This means that you will have to pay a total of $1,000 before the insurer will cover the remaining $500.

Typically you will have different options when choosing your deductible. You may be tempted to get the lowest deductible possible. However, a lower deductible will correlate with a higher policy cost. Conversely, a higher deductible will result in a lower policy cost. 

You will want to consider how much your vehicle is worth and weigh that number against the cost of any potential repairs. If you are less likely to file a claim, then a low deductible makes sense since you will have lower total costs. However, a higher deductible can make sense if you don’t predict a high frequency of accidents. Deciding your deductible is like betting on your accident odds.

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Nevada Commercial Auto Insurance Cost

Commercial auto insurance in Nevada is $45 per month or $540 per year. Here’s a table comparing the rates of the best companies:

Company Cost per Month Cost per Year Best for
NEXT $29 $348 Overall best choice for Nevada commercial auto insurance
The Hartford $34 $408 extra perks for commercial auto insurance
CoverWallet $32 $384 Nevada commercial auto insurance online comparison shopping
Tivly $36 $432 Comparing commercial auto insurance quotes over the phone
Thimble $38 $456 Getting quick commercial auto insurance coverage
Hiscox $41 $492 Customized Nevada commercial auto insurance

Compare Cheap Commercial Auto Insurance Quotes Online

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Best Nevada Commercial Auto Insurance Companies

Before you go, please look at our reviews of Nevada’s best commercial auto insurance companies. Each company offers different advantages for its insurance services.


NEXT Insurance

Pros 

  • Bundle your commercial auto policy with other business insurance and save 10%

  • Lots of coverage options

  • A- (excellent) rating from AM Best

Cons

  • None

NEXT offers comprehensive commercial auto insurance at a competitive price. You will find coverages like underinsured motorists, rental reimbursement, towing, and more. The company has a B+ with the Better Business Bureau.

Best for: Overall best choice for Nevada commercial auto insurance

Average cost: $29 per month 

Our rating: 10/10


The Hartford Insurance

Pros

  • Disappearing deductible saves you on commercial auto insurance

  • Online resources like car insurance calculator

  • Discounts for good driving records

Cons

  • Traditional customers might need help figuring out their online service

The Hartford covers your business vehicles in a variety of situations. You can get hired and non-owned insurance, rental car coverage, and medical payments coverage, among others. They are a well-established company whose direct premiums exceeded $11 billion in 2022. The Hartford has an A- from AM Best. They also have an A+ from the Better Business Bureau.

Best for: Extra perks for commercial auto insurance

Average cost: $34 per month

Our rating: 10/10 


CoverWallet Insurance

Pros

  • Top names in commercial auto insurance

  • Save time by comparison-shopping your commercial auto policy

  • Manage all your policies from one convenient place

Cons

  • Is a broker, not an insurer

CoverWallet is an insurance broker that connects you to top insurers like Hiscox, Chubb, Markel, and Progressive. You will always have options with CoverWallet. They offer policies that cover a range of vehicles, from cars to semi-trucks.

Best for: Nevada commercial auto insurance online comparison shopping

Average cost: $32 per month 

Our rating: 10/10


Tivly Insurance

Pros

  • Resources for learning about commercial auto insurance

  • Solution-centric approach to insurance

  • Choose from over 200 insurers

Cons

  • Lacks convenience features like a mobile app

Tivly is an insurer with an A rating from the Better Business Bureau. Their online network of 200 insurers may seem intimidating, but they do their best to simplify it. You can call to get a quote and quickly get on your way to a comprehensive commercial auto insurance policy. Call now to compare quotes over the phone. 

Best for: Comparing commercial auto insurance quotes over the phone

Average cost: $36 per month 

Our rating: 10/10


Thimble Insurance

Pros

  • A dedicated section for Nevada business insurance

  • Purchase your policy and keep your proof of insurance quickly

  • Convenient mobile app to track claims

Cons

  • Service call times can be long

Thimble can be your quick solution to commercial auto insurance coverage. They boast a quick process to get you a policy within 60 seconds. Just a little bit after that, you will have your proof of insurance and also some peace of mind. Thimble has an A+ rating from the Better Business Bureau.

Best for: Getting quick commercial auto insurance coverage

Average cost: $38 per month 

Our rating: 10/10 


Hiscox Insurance

Pros

  • 5% discount when combining your commercial auto insurance with other policies

  • Get a refund for your policy within 14 days

  • Home-based business discount

Cons

  • Small-business focus for specific policies

Hiscox is the best insurer on this list for tailored policies. Their insurance process helps you narrow down your choices and get coverage that you actually need. By bundling your commercial auto insurance, you can save even more. Hiscox has an A rating from AM Best for financial strength. They also have an A+ rating for long-term issuer credit.

Best for: Customized Nevada commercial auto insurance

Average cost: $41 per month 

Our rating: 10/10 

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