There are more than 260,000 businesses that operate in Iowa. These businesses employ up to 650,000 individuals or about 48% of the private workforce. These businesses rely on the use of vehicles as part of their day-to-day operation, whether it is directly or indirectly involved with business operation. Obtaining commercial auto insurance policy is required by the state law to ensure to protect against financial loss due to vehicle accidents and legal costs.
A typical commercial auto insurance policy in Iowa can cover a number of vehicle types, such as cars, vans, and trucks. The driver is covered, as well.
In Iowa, the state government has imposed minimum coverage requirements for commercial auto insurance. It starts with $20,000 for bodily (per person) and $40,000 for injuries resulting to death (with two or more persons involved). For property damage, the minimum coverage is $15,000 (per accident).
To get the adequate protection, you need to obtain coverage that is well above the state minimum requirements. It is also important to understand the nature of your business and the risks involved with the type of vehicle being operated, as well as type of cargo. These factors can influence the extent of coverage you need to ensure your business is protected.
The average cost of commercial auto insurance policy in Iowa varies from one insurance provider to another. However, the average cost is $900 to $1,200. Large vehicles such as heavy trucks and trailers can cost up to $2,400 in insurance per year. There are specific factors such as driving record and type or size of vehicle that can influence the final quoted rate. On average, the minimum liability limits is valued at $1 million.
If you want to save on your insurance policy, you can shop around for various quotes to do a thorough comparison.
1170 Iowa St, Dubuque, IA 52001
(319) 465-7017
http://www.trucklinegroup.com/
1280 Office Plaza Dr, West Des Moines, IA 50266
(515) 276-7704
http://truckers-insurance.com/
2815 Beaver Ave # 200, Des Moines, IA 50310
(515) 274-3838
http://www.davis-insurance.com/
1621 W Lakes Pkwy, West Des Moines, IA 50266
(515) 200-3753
https://www.auto-owners.com/
300 Main St, Moville, IA 51039
(712) 873-3455
http://www.egrinsurance.com/
500 1st St SE, Cedar Rapids, IA 52401
(319) 364-5193
https://truenorthcompanies.com/
5925 Council St NE #100, Cedar Rapids, IA 52402
(319) 393-0043
https://www.auto-owners.com/
103 Riverview, Bellevue, IA 52031
(563) 518-5257
http://www.ludovissyandassociates.com/