Commercial car insurance for utility companies | finder.com
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Compare commercial car insurance for utility companies

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Consider extra coverage for heavyweight and specialized vehicles in the utility services industry.

As a utility company, you have a unique set of risks when conducting your business. Specialized equipment and high mileage mean you may need to consider extra coverage. In addition, heavy vehicles and added equipment could increase your rates.

Compare commercial car insurance for utility companies

Name Product AM Best financial rating Available states
A+
All 50 states
Thanks to customizable coverage and speedy claims, this big-name insurer can help protect you, your employees and your assets.
A+
All 50 states
This big-name lender offers general and specialized coverage for your drivers or fleet. But don’t expect top customer support.
A
All 50 states
Reduce the risk of fleet accidents with Liberty Mutual’s driver safety training and monitoring.
A+
All states except AK, DE, HI, MT, NH, VT, WY
Esurance offers a modern online and mobile experience that helps you take your insurance on the go. Available in 43 states.
A
All 50 states
Backed by nearly 100 years in the business and an A+ AM Best rating, Farmers Insurance aims to help you find the coverage you need for your business.
Not rated
All 50 states
Insurance321 matches you with an agent or broker who can find the best commercial car insurance coverage for your business.
Not rated
All 50 states
Your customized business vehicle insurance starts with a quick expert assessment to find the best coverage for your company.

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What utility companies need commercial car insurance?

Utility companies often use commercial vehicles to service homes, install technology and hardware or perform maintenance duties. Each of these situations warrants commercial car insurance. Examples of utility companies who need car insurance include:

  • Power companies, such as gas, electric and solar power
  • Phone and computer companies
  • Utility distributors
  • Electric bulk power transmission control
  • Recycling companies
  • Trash management companies
  • Water and irrigation companies
  • Waste treatment facilities
  • Air conditioning suppliers

What car insurance coverage do I need for my utility company?

Your utility company needs basic coverage in case of an accident. You should have liability insurance at a minimum, but additional coverage can protect you after an accident. Coverage options include:

  • Liability. Pay expenses for vehicle damage or personal injuries to the other driver when your utility company is at fault.
  • Collision. Get protection for your own vehicle when it collides with another car or object.
  • Comprehensive. Cover all your bases with accidents not involving a collision, such as natural disasters or theft.
  • Uninsured/underinsured motorists. Covers your vehicle if the other driver at fault doesn’t have enough insurance to cover damages after an accident.
  • Medical payments or personal injury. Make sure your employees have the coverage they need to cover bodily injuries. This coverage kicks in after the employee’s health insurance did its part.

What additional coverage should I consider?

Your utility company has a unique set of risks using a vehicle with specialized equipment on board. Consider added protection to cover all your needs during an accident, including:

  • Roadside assistance. Pay for minor repairs and towing costs when you break down on the side of the road.
  • New vehicle replacement. Rest assured that you can recover from a total vehicle loss with an insurance policy that will replace your new car.
  • Rental reimbursement. Cover the cost of a rental car or truck to continue doing business when your vehicle needs repairs.
  • Loan or lease gap. Pay off your loan or lease if you still owe money on a total loss vehicle. This coverage kicks in after other policies pay for the accident claim.
  • Non-owned automobile. Extend coverage to employees who use their personal vehicle for business purposes.
  • Equipment insurance. Have specialized equipment? Get coverage for damages or theft during travel or while at a work site.
  • Loading and unloading. Get liability coverage for damages or personal injuries while moving equipment to and from your vehicles.
  • Specified Perils. If you don’t need full comprehensive coverage, you can cover one or two specific non-collision accidents.
  • Umbrella insurance. Cover damages or personal injuries that exceed your other policy limits.
  • Fleet owner package. If you own multiple utility service vehicles, you could bundle coverage. Fleet owners often enjoy special discounts and risk assessments for increased safety.

Compare commercial car insurance

What situations am I covered for?

Utility companies may encounter unique accident situations, such as:

  • Property damage. If your trash or recycling truck backs up into a customer’s building, dumpster or fencing, pay for damages with property damage liability. You can also pay for damages to your own truck with a collision.
  • Extra equipment. With equipment coverage add-on, your specialty equipment is covered during an accident.
  • Theft. Protect computer, phone or other electronics during shipments to your store with cargo coverage. Adding equipment coverage will protect your valuables during home setup services.
  • Water damage. Servicing a customer’s water supply may get messy, but comprehensive coverage can cover the cost if your vehicle does, too.
  • Medical injuries. Your supply truck of air conditioning units, electrical equipment or computer parts collides with a vehicle, causing medical injuries. Pay for injuries to the other driver with bodily injury liability, and your own driver’s injuries with medical payments coverage.

How much is car insurance for utility businesses?

Insurance rates for utility companies vary widely based on the type of vehicle, size and added equipment. Commercial insurance rates typically start at around $1,000 per year per vehicle depending on several variables, including the following factors.

  • Vehicle type.The vehicle’s make or model and how it’s used help determine the amount of risk involved.
  • Location. You’ll pay a higher premium if you do most of your business in large cities compared to rural areas.
  • Equipment.Trucks and cargo vans used to carry heavy equipment could increase your premium. The onboard equipment could cause more damage in an accident.
  • Vehicle weight. Heavy vehicles will likely cause more damage in an accident, so you’ll need to pay for more coverage.
  • Coverage.Additional policies, low deductibles, and high policy limits will all increase your premiums.
  • Drivers. Your employees’ driving histories will factor into your rates. Safe drivers will get you the cheapest premiums.

Bottom line

Utility companies may need additional coverage to protect specialized vehicles and equipment. The amount you pay is determined by your coverage, location and the kind of company you have. Save money by bundling your business policies and only getting the coverage you need.

Compare the best commercial car insurance to fit your department’s needs.

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