The Department of Transportation in Wisconsin estimated that there were over 23,000 crashes where people were injured in 2020. The chance of injuries can be concerning for a business owner who uses commercial vehicles. The National Highway Traffic Safety Administration estimates vehicle accidents cost America $340 billion in 2019.
This article will teach you about commercial auto insurance Wisconsin, which protects your business from lawsuits and other financial losses from vehicle accidents. You will learn about the requirements, components, and companies offering competitive policies.
Commercial auto insurance covers the cost of liability claims and damage to vehicles you use in your business. The policy will also cover bodily injury costs and property damage for passengers, pedestrians, and others involved in the vehicle accident.
Auto insurance policy requirements are set at the state, not the local level. This means that commercial auto insurance milwaukee wi will have the same requirements as policies in Madison, WI. While your policy must meet minimum requirements, policy limits and protection options will vary by insurer.
Commercial auto insurance is important because you could put your business in legal and financial trouble without coverage. Wisconsin law requires all vehicles to be covered under an adequate policy. If one of your vehicles gets into an accident without insurance, you could be sued by the injured party for a lot of money. Legal fees, court judgments, and settlements can be astronomical costs for a small business.
Since commercial auto insurance is required by law. This means that naturally, there are consequences for not having it. These penalties can be severe. They include:
Suspension of driving privileges
Fines of up to $500
Reinstatement fees to get driving privileges back
Suspension of your vehicle’s registration
No, a commercial auto policy does not guarantee to replace a damaged or totaled vehicle. Vehicle coverage is based on the actual cash value of your vehicle at the time of the accident. Your insurer must only respond to the actual cash value amount rather than the replacement cost.
Your Wisconsin commercial auto insurance policy will possess several different components. Each component addresses financial losses like injury to other people and your vehicles. Some of these components are described below.
Collision auto insurance pays for physical damage that occurs to your business vehicles. Collision covers physical damage from your vehicle colliding with an object on the road. Most often, this occurs when you collide with another vehicle. However, this can cover you in single-vehicle accidents where your vehicle strikes another road object or gets overturned.
Comprehensive is the other policy that covers physical damage to your vehicle. You get coverage from a variety of sources other than colliding with road objects. Examples include:
Fire
Vandalism
Hail
Glass breaking
Falling objects
Vandalism
Theft
Water
Striking an animal
Flood damage
Auto liability is a policy that covers property damage and injury to others in vehicle accidents. You get a certain amount of protection from claims that include medical expenses, pain and suffering, lost wages, and more.
Property damage protection will cover you for personal property damage like a damaged fence or broken glass. You also get protection from damage to government property like a road sign or a light pole.
This coverage will help pay for medical or funeral expenses for you or the occupants of your vehicle. Medical payments coverage will kick in regardless of who is at fault in the accident. This means you can receive benefits even when found to be at fault.
Roadside assistance coverage will help you pay for the costs you might have to pay if a car breaks down on the road. This can include the costs to tow a car and pay someone to assist your vehicle.
Uninsured motorist coverage applies to the bodily injury you or occupants of your business vehicle experience by another motorist. If a motorist does not have adequate insurance, it can cover the gap in benefits you would get between what they pay you and what your losses cost up to a limit.
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Automobile insurance is required by Wisconsin law. In addition to having an active policy, there are insurance requirements that Wisconsin drivers must follow. These guidelines are available from the Wisconsin Office of the Commissioner of Insurance or the Department of Transportation. You can also ask your insurance agent if you have any questions about them.
Wisconsin drivers must have insurance that meets certain auto liability thresholds. The chat below will outline the coverage limit that you need.
| Injury of one person | Injury for more than one person | Property damage |
|---|---|---|
| $25,000 | $50,000 | $10,000 |
Wisconsin drivers must have uninsured motorist coverage with a minimum limit of $25,000 per person. This policy must also have $50,000 in coverage. Insurers will offer higher limits for policies, but you will often need to pay a higher premium to get them.
Medical payment coverage must be offered at a minimum limit of $1,000. Your policy does not require this coverage, but your insurance company must offer you the option.
Commercial auto insurance is not a policy that will cover all events. Some events that insurance will not protect you from include:
Police seizure of your vehicle
Illegal activities with your vehicle
Damage to uninsured vehicle modifications
Personal property damaged in an accident
Injuries or death that results from nuclear accidents, war, or catastrophic events
Sometimes. The Office of the Commissioner of Insurance in Wisconsin published a form checklist for auto insurance. In this form, they reference a Wisconsin Supreme Court decision. This decision determined that insurers can not exclude intentional acts unless the damage is “substantially certain.” to follow what a policyholder does.
This means that actions that will obviously cause damage will be excluded from coverage, even if the result of the action is different than what the insured intended.
A commercial auto insurance policy may only cover some of the vehicles you use in your business operations. To get coverage for hired and non-owned vehicles, you will want HNOA coverage. HNOA stands for hired and non-owned insurance. It will cover personal, rented, and leased vehicles that your business uses.
Personal auto insurance policies do not cover personal vehicles used for work purposes. A personal policy can cover the commute to and from work but loses protection for work-specific uses. HNOA coverage will help you get covered for activities like:
Making deliveries
Picking up supplies
Transporting clients
You will need commercial auto insurance for vehicles your business owns and solely used for work purposes. An HNOA policy will not cover these types of vehicles.
The cost of your Wisconsin commercial auto policy may start as low as $40 per month or $480 per year. Here’s a table showing the rates of the best companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $40 | $480 | Best overall; Fastest commercial auto insurance |
| CoverWallet | $44 | $528 | Comparing commercial auto insurance quotes online |
| The Hartford | $48 | $576 | Insurance expertise |
| Tivly | $49 | $588 | Generating multiple commercial auto insurance quotes over the phone |
| Thimble | $52 | $624 | Short-term commercial auto coverage |
| Hiscox | $56 | $672 | Commercial auto insurance for small Wisconsin businesses |
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See our recommendations for some of the best Wisconsin commercial auto insurance companies in the reviews below. Please consider each insurer's pros and cons to determine which policy will work for your Wisconsin business.
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Insurance provider that handles its own claims
Includes coverage for towing and labor
None found
NEXT is an insurer that was founded in 2016. They offer a digital insurance experience that is convenient to the customer and easy on the wallet. NEXT utilizes transparent pricing, so you never worry about hidden fees. NEXT has an AM Best rating of A- and a Better Business Bureau rating of B+. AM Best rates insurers based on their financial backing and ability to back up their insurance policies. The Better Business Bureau rates businesses based on their ability to resolve customer complaints and other factors.
Best for: Best overall; Fastest commercial auto insurance
Average cost: $40 per month
Our rating: 10/10
Over 200 years of insurance underwriting expertise
Track policies with a helpful mobile app
Offers rental car coverage with commercial auto
Limited add-ons for some policies
The Hartford has been a trusted and longstanding insurer in the industry for over 200 years. They have an A- rating from AM Best and are highly reviewed by customers. The Hartford has a 4.8 rating out of 5 in its customer reviews. The company started as a fire insurance company in 1810. Since then, it has expanded coverage and offers competitive commercial auto policies.
Best for: Insurance expertise
Average cost: $48 per month
Our rating: 10/10
Get policies from their insurance partners that are tailored to your exact needs.
Allows you to get policies over the phone without filling out a form
Over ten partners to choose from
Does not provide insurance coverage themselves but instead rely on partners.
CoverWallet offers a tailored insurance experience that connects insurers and buyers. You can choose a policy from top providers like Hiscox, Chubb, Progressive, and Markel. CoverWallet has an A+ rating from The Better Business Bureau. They have been accredited since 2017.
Best for: Comparing commercial auto insurance quotes online
Average cost: $44 per month
Our rating: 10/10
Negotiates for you with their insurance partners
Choose between over 200 insurance partners
Has a database of standard insurance terms
Does not offer a mobile app, as some insurers do
Tivly is an insurance broker that provides customers access to over 200 insurance partners. While this choice may seem overwhelming initially, the company uses flexible targeting to make it easier. This means they will help narrow the options to insurers and policies catering to your business's needs. Call now to compare quotes over the phone.
Best for: Generating multiple commercial auto insurance quotes over the phone
Average cost: $49 per month
Our rating: 10/10
Excellent online resources to help first-time insurance buyers
A+ rating and accreditation from the Better Business Bureau.
Get insured in less than 60 seconds.
Lacks coverage options compared to some others
Thimble is an insurance broker that its customers highly review. They allow you to set the policy durations of your insurance policies down to the hour. This makes them perfect for businesses looking for short-term coverage and planning for temporary services they need their vehicles for.
Best for: Short-term commercial auto coverage
Average cost: $52 per month
Our rating: 10/10
Get extra discounts for bundling multiple policies
Offers refunds within 14 days
Has non-owned auto liability insurance
Policies may be restricted to only small businesses with fewer than ten employees.
Hiscox is an insurance provider with a team of dedicated insurance agents. They have over 100 years of experience in the insurance industry. Hiscox policies are highly customizable and are tailored to your business needs.
Best for: Commercial auto insurance for small Wisconsin businesses
Average cost: $56 per month
Our rating: 10/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
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
1 / 5
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.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
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!
Not all those who wander are lost.
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