Did you know that Wyoming car crashes affected over 27,000 people in 2021? Car accidents represent a unique risk to your business because they are common enough that many companies must deal with them.
Commercial auto insurance Wyoming will protect your business against inevitable costs from car accidents. This article will examine what commercial auto insurance covers and explore topics you want to know about, like recommended companies, requirements, and common questions.
Commercial auto insurance protects your business against liability claims and damage to property and vehicles. As the name implies, commercial auto insurance applies to business uses of your vehicle. This differs from personal auto insurance because personal policies will not typically cover work activities.
With commercial auto insurance, your business can insure vehicles that they use to transport clients, materials, tools, and equipment during business. Commercial auto insurance can cover employees who use your business-own vehicles for work-related errands or other activities. A commercial auto policy can cover a single vehicle or a fleet of vehicles.
Commercial auto insurance is vital because Wyoming has insurance requirements for automobiles driven on the road. To comply with state laws, you must purchase commercial auto insurance when using your work vehicles.
Commercial auto insurance is essential for a healthy business. People can sue you if you cause financial harm to someone or their property. Depending on the extent of the damage, you can be sued for tens of thousands of dollars. The cost to hire a lawyer and appear in court is also costly.
Below is a chart of the auto accident statistics in Wyoming, which speaks to how important it is to make sure your business is protected. This data comes from the Wyoming Department of Transportation.
| Wyoming Population | Total Crashes | Total People Involved | Total Vehicles Involved | Total People Injured | Commercial Motor Vehicle crashes |
|---|---|---|---|---|---|
| 579,483 | 13,885 | 27,367 | 21,170 | 3,374 | 1,597 |
The most common cause of critical vehicle crashes on the road in Wyoming is lane departures/ being run off the road.
The cost of business vehicle insurance will vary for different reasons. Some of those reasons include:
The risk level of the business’s industry
Your claim insurance claim history
The driving history of your employees
How many vehicles you need insured
The types of vehicles insured
The value of your business vehicles
Any deductible you have
The coverage limits of your policy
The state of Wyoming can impose harsh penalties for businesses that do not carry proper insurance for their vehicles. These penalties can include the following:
A $750 fine
Suspension of your vehicle's registration
A suspension of your driving license
Up to six months in jail
These penalties will apply to subsequent offenses as well. You may pay up to a $1,500 fine for another offense and forfeit your license plates.
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Your commercial auto insurance policy will have a variety of different aspects that they will cover. Not every part of a commercial auto insurance policy is mandatory. You may enhance your coverage based on your business needs with add-ons. Below are the common categories for Wyoming commercial auto insurance policies.
Collision coverage will protect your business vehicles during road accidents. You will receive a payout when your vehicle suffers damage from colliding with another object on the road. This policy does not just cover multiple vehicle accidents. You can also get coverage for some types of single-vehicle accidents. Collision will cover instances where you strike another vehicle and road objects like signs and streetlights. You can also get coverage for your car overturning due to road conditions.
Your comprehensive coverage is the other form of physical protection. This policy will cover damaging events resulting from causes other than road collisions. Some examples of events covered include:
Fire
Theft
Water
Vandalism
Falling objects
Auto liability is the primary liability protection for your business vehicle. It will help pay for the costs of property damage and bodily injuries your business vehicle causes to others. The policy applies in the case of damage to private persons and businesses. This policy will also cover damage to government-owned property like buildings, street lights, traffic lights, and road signs.
This policy will cover events where your vehicle needs assistance at the side of the road. It can cover the costs of towing a disabled vehicle, changing a tire, or jumpstarting a battery.
Medical payment coverage helps passengers and drivers in your business vehicles pay medical costs. The good thing about this coverage is that it pays out no matter who is ultimately at fault in the accident.
These policies will cover incidents where another motorist's lack of insurance causes a coverage gap. For example, a motorist may not have insurance and cannot pay for damages that they cause to your business vehicle. In this case, an uninsured motorist policy will help you pay for the gap up to the policy's limits.
This insurance policy covers liabilities for lost or damaged cargo that your business takes responsibility for. It can cover common causes of cargo damage like fire and road collisions. Typically this coverage is meant for for-hire trucking businesses that use vehicles that include:
Dump trucks
Tractors
Trailers
Box trucks
Cement mixers
Flatbed trucks
Car haulers
Cargo vans
Gap coverage is a policy for vehicles that are financed. Your automobile insurance coverage will be based on the actual cash value of your vehicle. An insurance policy won't cover the cost to replace the vehicle, only the actual cash value. Automobiles are subject to depreciation, meaning your vehicle will lose value over time.
This creates a situation where an accident payout may be less than you still owe on your total vehicle loan. In this case, gap coverage will help you compensate for the difference and pay off your vehicle.
Your Wyoming auto insurance policy must meet specific requirements and coverage limits to satisfy Wyoming state laws. Insurers must provide policies that meet minimum limits and offer certain types of coverage. Below is a list of these requirements.
Wyoming requires a minimum liability of 210/100/20. This is what is referred to as a split limit. Split limits detail the individual coverage amounts you need for certain types of liability. See the chart below for the coverage amount required.
| Bodily injury per person | $25,000 |
|---|---|
| Bodily injury per accident | $50,000 |
| Property damage per accident | $20,000 |
Keep in mind that these numbers are the minimum coverage required. Insurers will often offer higher limits for individual policies. Also, certain types of vehicles require higher limits than these.
Cargo insurance coverage will require common and contract motor carriers to carry $10,000 of cargo insurance. An exemption to this rule is any carriers transporting commodities that do not ordinarily require cargo insurance.
No. Wyoming does not require personal injury protection (PIP). PIP is also sometimes called no-fault insurance. This policy covers medical expenses, funeral costs, and lost wages caused by vehicle accidents.
Personal injury protection will provide coverage no matter who is found at fault. It will help with medical expenses for you and injured passengers, even if you are not driving. If the parties named on your policy get hit by a car, they will still get coverage.
Commercial auto insurance will cover many instances of damage and liabilities. However, it will not cover every incident you might experience. Commons incidents that are commonly excluded include:
Intentional damage to your vehicle
Terrorism and war
Catastrophic weather events like tornados, hurricanes, and earthquakes
Pollutants that you transport
Racing events
Employee dishonesty
No. A personal vehicle will not be covered when it is used for work-related activities. By default, personal auto insurance policies will not cover using them for your business. The only exception to this rule is for commuting to and from work.
Your Wyoming commercial auto policy is $40 per month or $480 per year. Here’s a table showing the cost of a commercial auto policy from the best insurance companies.
| Company | Cost per Month | Cost per Year | Best for |
|---|---|---|---|
| Next | $25 | $300 | Best overall; Fastest Wyoming commercial auto insurance |
| The Hartford | $30 | $360 | Commercial auto customer satisfaction |
| CoverWallet | $27 | $324 | Comparing quotes online |
| Tivly | $31 | $372 | Comparing quotes over the phone g |
| Thimble | $32 | $384 | Getting a commercial auto insurance policy quickly |
| Hiscox | $36 | $432 | Customizable commercial auto insurance |
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Below is a list of insurance companies that can offer competitive commercial auto policy options. Each company comes with advantages and disadvantages for your Wyoming business.
Get your online certificate instantly
Transparent pricing for your insurance policy
Offers rental reimbursement for commercial auto
None found
NEXT offers excellent commercial auto insurance for Wyoming businesses. These policies will save you money and get you covered quickly. NEXT has an A- rating from AM Best for its strong financial backing. This means you can trust NEXT to have your back when it comes time to file a claim.
Best for: Best overall; Fastest Wyoming commercial auto insurance
Average cost: $25 per month
Our rating: 10/10
Better Business Bureau rating of A+
An experienced insurer that has local agents
Offers hired and non-owned auto insurance
Some policies are not the cheapest.
The Hartford is an insurance provider with over 200 years of industry experience. They were rated #1 in customer satisfaction by J.D. Power in 2022. This company also has an excellent score from AM Best for its financial security. Overall with The Hartford, you get a pleasant buying experience that customers highly review.
Best for: Commercial auto customer satisfaction
Average cost: $30 per month
Our rating: 10/10
Wide amount of coverage options
Lets you manage quotes without being committed to buying a policy
Quickly get quotes for commercial auto insurance
Is not an insurance provider
CoverWallet acts as your digital wallet for insurance policies. With their platform, you can access over 10 top insurance brand names that offer excellent policies to suit your business needs. They have an A+ rating from the Better Business Bureau.
Best for: Comparing quotes online
Average cost: $27 per month
Our rating: 10/10
Solution-oriented insurance approach
Boasts a 4-second phone answer rate for customer service
Offers Gap insurance for commercial auto through partners
Doesn’t write the insurance policies
Tivly offers a massive digital insurance platform with over 200 providers. With Tivly, you get a wide variety of policies and insurance options that are hard to beat. The company has over 20 years of industry experience and an A rating from the Better Business Bureau. Call now to compare quotes over the phone.
Best for: Comparing quotes over the phone
Average cost: $31 per month
Our rating: 10/10
A fast-growing insurer that represents over $150 billion in coverage
Excellent mobile app to make policy management simple
Keeps insurance simple and accessible to inexperienced customers
Fewer policy options than other insurers
Thimble is an insurance broker that launched in 2016. They offer convenient ways to track your policies, like their mobile app. One of their biggest strengths is the ability to set the duration of your insurance down to the month, day, and hour. This flexible approach to insurance can be a massive benefit to your Wyoming business.
Best for: Getting a commercial auto insurance policy quickly
Average cost: $32 per month
Our rating: 10/10
5% discount when bundling additional insurance policies
Fast claim responses
Coverage for owned, rented, hired, and employee vehicles.
Some customers report customer service wait times can be long during peak hours.
Hiscox is a multinational insurance company that operates in 14 countries. They offer a tailored insurance buying process made easier thanks to knowledgeable and passionate insurance agents. The company has an A rating from AM Best and serves over 500,000 customers.
Best for: Customizable commercial auto insurance
Average cost: $36 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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