Compare commercial car insurance for utility companies

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.

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.

Compare commercial car insurance for utility companies

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Name	Product	AM Best financial rating	Available states
Progressive commercial car insurance		A+	All 50 states	Cover nearly any business vehicle from box trucks to limos with big savings from discounts, safety programs and a single deductible.	Get quotes More Info	Compare	loading Fetching your data...
CoverWallet		Not rated	All 50 states except Alaska & Hawaii	Compare multiple quotes for business auto insurance to find the cheapest rates from this online commercial insurance broker.	Get quotes More Info	Compare	loading Fetching your data...
The Hartford commercial car insurance		A+	All 50 states	The Hartford’s customized auto insurance policies protect your business fleet with well-rounded coverage and a safe driving program.	Get quotes More Info	Compare	loading Fetching your data...
Allstate commercial car insurance		A+	All 50 states	Customized, industry-specific polices like leased car coverage plus quick claims filing.	Get quotes More Info	Compare	loading Fetching your data...
Liberty Mutual commercial car insurance		A	All 50 states	Take advantage of telematics to monitor and improve employees' driving and save on insurance premiums.	Get quotes More Info	Compare	loading Fetching your data...

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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:

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.

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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.

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.

Frequently asked questions about commercial auto for utility companies

• How much liability coverage should I get with my commercial car insurance?

  The Insurance Information Institute recommends a $1 million limit to protect you and your business from any potential liabilities. But if that’s out of your budget, consider opting for $500,000 at a minimum.

• What discounts can I get as a utility company?

  Many insurance companies offer general, and business discounts, such as payment in full, automatic payments, claims-free history, safety feature discounts, customer loyalty, business insurance bundles, and affinity programs.
  If you own multiple utility company vehicles, look into fleet owner discounts.

• What other business insurance policies does my utility company need?

  Depending on what state you live in, you may be legally required to get workers’ compensation insurance. General liability insurance is also recommended to protect your business from potential lawsuits.
  Additional insurance policies to consider are commercial property, equipment breakdown, pollution liability, public entity management liability, supply chain risk insurance or umbrella coverage.