Reckless driving, drunk driving, tailgating, overspeeding, unfavorable weather conditions, and failure to observe the statutory traffic laws are all common causes of automobile accidents in Utah. It's a fact that you cannot control how another motorist decides to drive. But you can choose how to protect yourself, your employees, and your commercial vehicle while you are on the road by purchasing commercial auto insurance.
Utah commercial auto insurance is specifically tailored to provide you with financial coverage against damages caused to or by your commercial vehicle.
Passenger vehicles, cargo vehicles, and special vehicles such as forklifts are some of the automobiles covered under this policy. There are 2 main types of commercial auto insurance policy in Utah: Third-party commercial vehicle insurance-this policy only covers bodily injuries and property damages caused to a third party. This means that any damage caused to your commercial vehicle will not be covered under this policy.
Comprehensive auto insurance policy- this provides you with coverage in the event your commercial vehicle gets damaged by fire, theft, vandalism, natural disasters, and adverse weather conditions. Please note this policy doesn't provide you with third-party bodily injuries and property damages coverage.
The coverage limits under this policy ranges between $1 million per claim and $2 million for all the approved claim notices during your policy period, which typically lasts for a year. You can have your insurer of choice reduce or increase this coverage limit to suit your business needs.
Here are instances in which commercial auto insurance in Utah may be useful:
If an uninsured or underinsured drivers hit you
If you want to repair your commercial vehicle following its damage by fire, vandalism, theft, or some weather-related incidents such as lightning
If your commercial car is damaged by some natural calamities such as tornadoes and landslides
When you are required to pay for the medical expenses of everyone who was traveling in your commercial vehicle after they sustained bodily injuries after an accident
When your car gets damaged after it collides with another vehicle or object
When your commercial car causes third party bodily injuries and property damages
When you want your insurer to pay for your medical expenses after getting injured in accident while driving your commercial vehicle
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According to statistics compiled and published by the Utah Department of Health, it's estimated that for every 8 minutes, 1 vehicular collision occurs, and for every 24 hours at least 72 collisions occur in Utah. And at least one person sustains fatal auto accident-related injuries every 33 hours. Statistics published by the Highway Safety Office of the Utah Department of Public Safety rank Salt Lake County number one with the most auto accidents related.
You must have a minimum auto liability coverage limit of $25,000 per bodily injuries, $65,0000 per accident, and $15,000 per accident for property damages.
It’s also vital that you have a personal injury protection coverage limit of $3,000 per accident since Utah is considered to be a no-fault insurance state. That is, you are required to exhaust your personal injury protection coverage limits to cater to your employees and those traveling in your commercial vehicle before suing an at-fault driver for your financial losses following the occurrence of an accident.
Everyone who owns a motor vehicle must maintain owner/operator liability coverage during the registration period. Please note that off-highway vehicles are excluded from this Utah commercial auto insurance requirement.
Failure to meet the above requirements may result in fines and penalties of not less than $400 for a first offense and $1000 for a second offense. You may also serve jail time and your uninsured vehicle’s registration and driver’s license may be suspended by the Utah Department of Motor Vehicles (DMV) and DPS respectively.
Below are the 6 main components of commercial auto insurance Utah:
Bodily injury liability coverage–Covers third-party bodily injury or death following an accident that you have caused. This coverage may also exempt you from incurring auto-related legal expenses such as settlement and court fees.
Collision coverage–Exempts you from incurring the cost of repairing or replacing your damaged commercial vehicle after it has been hit or hit by another object or vehicle.
Comprehensive physical damage coverage–Covers damages that are not caused by collision incidences. Fire, theft, vandalism, and some weather-related events and calamities such as tornados and hailstorms are some of the perils covered under this component.
Medical payments coverage–Under this component, anyone traveling in your commercial vehicle's medical expenses are paid for by your insurer, regardless of who is at fault. Important to note is an insurer will pay up to a certain limit as per the terms and conditions of your Utah commercial auto insurance.
Property damage liability coverage–Exempts you from being financially liable in the event your vehicle accidentally causes third-party property damage. It also provides you with legal defense coverage if you are sued.
Uninsured/underinsured motorist coverage–You are protected from incurring any costs in the event you get into an accident with an uninsured/underinsured motorist. Medical expenses and a certain percentage of property damage compensation are some of the costs covered under this policy.
Return to invoice coverage–This add-on ensures that you get compensated for the full amount as your vehicle's market price in the event it becomes damaged beyond repair or gets stolen. Your vehicle's registration cost and the paid road tax amount are also covered under this add-on.
NCB protection coverage–Through this add-on, you can get a no-claim bonus if you didn't claim any compensation during your policy period (usually 1 year).
Roadside assistance coverage–You are exempted from incurring emergency services you may need in the event your vehicle breaks down while on the road. Such services include towing, tire repair services, battery jump starting, and refueling.
Consumables coverage–Exempts you from incurring the cost of replacing your vehicle's washers, nuts, bolts, bearings, radiator coolant, AC gas, and engine oil. Your vehicle must be less than 3 years old to be covered under this add-on.
Zero or nil depreciation coverage–This add-on provides you with the full amount of replacing your vehicle's depreciated parts without deducting their depreciation value.
Key replacement coverage–Provides for the cost of replacing your car lost or stolen keys and damaged locks.
Daily allowance coverage–This add-on provides you with financial assistance in the event you have to hire a vehicle following the occurrence of an insured peril on your commercial vehicle. Important to note is that you will only be compensated through this add-on if your commercial vehicle is being repaired in an insurance-authorized garage. Your vehicle must also be under repair for less than 3 days for you to be compensated under this add-on.
Loss of personal belongings coverage–This add-on compensates you for the loss of your personal belongings following the occurrence of an insured risk on your commercial vehicle.
An insurer may reject to pay you for your Utah commercial auto insurance claim if:
You intentionally caused the accident
Your policy had expired before the accident occurred
Your car got damaged due to an electrical or mechanical breakdown
You reported a false claim
Commercial auto insurance is $40 per month or $480 per year for a $1 million auto liability coverage. Here is a table showing the monthly and annual premium rates of Utah commercial auto insurance as provided by some of the long-standing Utah commercial vehicle insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $21 | $252 | Best overall; Fastest commercial auto insurance |
| CoverWallet | $23 | $276 | Comparing commercial auto insurance quotes online |
| The Hartford | $26 | $312 | Established business owners that own businesses in multiple locations and those that are in need of comprehensive commercial auto insurance |
| Tivly | $29 | $348 | Comparing commercial auto insurance quotes over the phone |
| Thimble | $31 | $372 | Newly established business owners that want affordable, customizable, and short-term or event-based coverage |
| Hiscox | $35 | $420 | Businesses situated in areas where insured risks are inevitable |
Please note your profession, the type of vehicle you own, your driving history (whether you have in the past caused any accidents or violated motor states law), and your travel radius all determine your premium rates for this policy.
Also, where your business is located will directly influence your Utah commercial auto insurance monthly and annual costs. For instance, you will be required to pay $1,525 annually for commercial auto insurance provo. And if you relocate your business to Salt Lake City, then the state will require you to pay $1,592 annually for commercial auto insurance for Salt Lake City.
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Below is a list detailing the pros, cons, and $1 million auto liability insurance rates of some of the top-rated Utah commercial auto insurance companies.
Works with Progressive for commercial auto insurance
Allows its customers to share COI instantly
Its policies are customizable
Provides fast quotation process
Most of its specialized coverages are unavailable across the USA
NEXT is an online USA-based insurance company that specializes in providing competitively priced and customizable business policies to small-scale business owners. This privately owned insurer provides coverage to over 1,300 different types of small-scale businesses. You can manage its policies and report claims by using its 4.3 stars google play rated mobile app. It's also possible to modify your coverage, create your COI and share it via its mobile app.
Best for: Best overall; Fastest commercial auto insurance
Average cost: $21 per month
Our rating: 10/10
You can manage your policies in one location
Time saving-you can compare quotes from different insurers through its platform
Fast provision of quotes from its different partnered carriers
Offers multiple specialized coverages
You may be required to call in to finalize your quotation process
CoverWallet is an online insurance company founded in 2015 by Inaki Berenguer. It's estimated that this AON PLC firm-owned insurer generates an annual revenue of $25.0M. Some of the industries that can best benefit from this privately traded insurer include real estate, construction, contractors, retail, transportation, and storage/warehousing companies. Important to note is that CoverWallet specializes in providing coverage to small businesses, thus, large business owners may not benefit from its online insurance quotes.
Best for: Comparing commercial auto insurance quotes online
Average cost: $23 per month
Our rating: 10/10
Offers lifetime renewability for its auto policy
Large catalog for commercial auto policies
Offers deductible waivers
Limited add-ons to general liability insurance
The Hartford is a 200-year-old insurer specializes in providing AARP members with coverage across all 50 states. This A+ AM Best-rated insurer offers it's auto policyholders added benefits such as new car replacement and RecoverCare benefits. It also offers its clients the following optional features:
First accident forgiveness–Under this feature your premium rates remain the same after your first accident. For you to qualify for this feature, you must have not caused an accident in the last five years. This feature is only available for some policyholders living in California
Disappearing deductibles–Under this feature your collision deductible is reduced by $50 until it reaches $0 every year, provided you don't get into an accident or report a claim
Best for: Established business owners that own businesses in multiple locations and those that are in need of comprehensive commercial auto insurance
Average cost: $26 per month
Our rating: 10/10
Dedicated small business insurance broker
Deals with a wide catalog of insurance policies
Has partnered with 200 long-standing and top-rated insurance carriers
Its policies and claims are underwritten by a third party
Tivly is an online insurance agency that's dedicated to connecting and matching small business owners with insurance quotes and coverages that suit their needs. This Oklahoma-based insurance agency has improved its customers' experience by providing them with real-time analytics. Apart from commercial auto insurance, Tivly also facilitates its customers with the acquisition of the following business insurance policies: Workers comp, general liability, professional liability, and business owner's policy. Call now to compare quotes over the phone.
Best for: Comparing commercial auto insurance quotes over the phone
Average cost: $29 per month
Our rating: 9/10
Covers a broad range of industries/companies
Provides you with tools for managing your policies online
Provides coverage to all 50 states
Refers its commercial auto insurance customers to Tivly
Thimble specializes in providing its customers with temporary and event-based coverage. This A+ AM Best rated insurer allows its customers to customize and share an unlimited number of COIs via its mobile app.
Best for: Newly established business owners that want affordable, customizable, and short-term or event-based coverage
Average cost: $31 per month
Our rating: 9/10
Offers cyber liability insurance coverage
Provides worldwide coverage
Monthly premium rates available
Sells bundled policies at a 5% discount
Its BOP is only available to businesses with less than 10 employees
Hiscox is a UK-based insurance company that provides worldwide coverage. Its coverage options are found all over the USA except in Alaska. Policyholders have unlimited and uninterrupted access to free online training resources such as the Hiscox CyberClear Academy and Paladin Shield. The former imparts employees with up-to-date cybersecurity information, while the latter provides policyholders with live consultation services.
Best for: Businesses situated in areas where insured risks are inevitable
Average cost: $35 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
Not all those who wander are lost.
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