Illinois Commercial Auto Insurance
(Quotes, Cost & Coverage)

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Get Illinois commercial auto insurance quotes, cost & coverage fast. IL business auto helps pay for damaged vehicles, property, bodily injury and medical expenses if you or an employee is found at fault for an accident.

IL Business Auto Insurance

Illinois Commercial Auto Insurance

It's pretty obvious that a company that has a fleet of vehicles and uses them to transport goods or perform services should have Illinois commercial auto insurance. However, if you own a small company or are a sole proprietor and don't have commercial drivers, it can be hard to determine if this type of insurance is right for you. Your personal auto insurance may not cover you or any of your employees in the event of an accident, so it's essential to find out immediately if Illinois commercial auto insurance is necessary.

Business auto insurance is a policy that covers any IL vehicles that are used for your business, as well as the people who drive those vehicles. It provides financial protection for you and any employees that drive for reasons related to your business if an accident or some other type of incident occurs.

While business vehicle insurance has some similarities to personal auto policies, there are notable differences in eligibility, coverages, exclusions, definitions & limits. Commercial car insurance is needed for certain type of vehicles (think heavy vehicles like tractors, dump trucks etc.). This can include cars used for business purposes as well as box trucks, food trucks, service utility trucks, etc.

Does My Business Need Illinois Commercial Auto Insurance?

The best way to determine whether or not you need Illinois commercial car insurance is to speak to an insurance agent or someone else who has ample knowledge of the topic. However, if the business you operate uses vehicles on a regular basis, it's a pretty safe bet that you are going to need it, no matter what size your business is.

Some professions that require Illinois commercial auto insurance include the following:

If your profession isn't listed above, don't assume that you don't need IL business auto insurance. As mentioned, if your business uses vehicles, there's a pretty good chance that you are going to need it. Also you might be contractually required to have it of a customer requires it as part of a deal.

What Does Illinois Commercial Auto Insurance Cover?

You might already have some familiarity with some of the different types of business car insurance since many polices share names with personal vehicle insurance policies. Some of the most commonly used coverages in policies include:

Whatever policy you choose, you should consider extending it so that it will cover any employees who may drive in order to complete tasks that are related to your IL business. For example, if you own a restaurant that delivers food, it's a wise idea to have your delivery drivers covered.

What Illinois Commercial Auto Insurance Doesn't Cover

Know as exclusions, which elimiate risks for the insurer, Illinois commercial auto insurance typically does not cover:

How Much Illinois Commercial Auto Insurance Coverage Do I Need?

It can be tricky to figure out how much vehicle insurance you will need for your business. An agent that specializes in this type of insurance will be able to help you determine an appropriate amount for your specific needs. It's important to be aware that at the bare minimum, you have to make sure that you have enough coverage to comply with any insurance requirements that are set forth by Illinois.

The following factors can be used to help you figure out how much coverage your business will need:

How Much Does Illinois Commercial Auto Insurance Cost?

How much does Illinois commercial auto insurance cost? The average price of business vehicle insurance varied widely based on certain factors. The premiums vary depending on the company and their underwriting rules, and it depends on the coverages and deductible selected. Following are some of the main factors that go into the price of a policy based on the business:

And the following factors have an effect on the price based on the acutal drivers:

What Are Illinois's Financial Responsibility Requirements?

According to the Illinois Department Of Insurance:

Automobile insurance protects you from financial losses such as vehicle repairs, medical bills, and legal services that could result from an auto accident. Illinois law (625 ILCS 5/7-601) requires all motor vehicle owners to have minimum amounts of auto liability insurance. In addition, lending institutions may require physical damage insurance to protect their interest in a financed vehicle.

Liability Coverage - Pays for bodily injury to another person or property damage you cause due to the negligent operation of a vehicle. It may also pay if the accident was caused by a member of your family living with you or a person using your vehicle with your permission. The coverage may also pay for a legal defense if you're sued because of the accident. Liability coverage is often split into two separate coverages:

Bodily Injury (BI) - Pays for costs due to injury or death to a pedestrian(s) or person(s) in another car. It may also cover your passengers' injury costs as long as they aren't members of your household. Illinois law (625 ILCS 5/7-203) requires BI limits of at least $25,000 per person per accident and $50,000 total per accident.

Property Damage (PD) - Pays for damage to another person's car or property such as fences, buildings, utility poles, signs, and trees. Illinois law (625 ILCS 5/7-203) requires PD liability limits of at least $20,000 per accident. Note: You may want to consider buying higher limits because the state minimums may not be enough to fully protect you from lawsuits. Many vehicles today are worth more than $20,000 and medical bills for injuries could easily exceed $25,000 for one person. If you are found negligent in an accident and the damages exceed your insurance limits, you can be sued in court for those amounts not covered by your insurance.

Uninsured Motorist Bodily Injury Coverage (UM) - Covers you for your bodily injury caused by a hit-and-run driver or an at-fault driver who has no auto liability insurance. Currently, Illinois uninsured motorist bodily injury minimum limits are $25,000 per person and $50,000 per accident. For additional premium, you may buy higher limits to pay for claims that exceed those amounts.

Underinsured Motorist Bodily Injury Insurance (UIM) - Pays the difference between your UIM limits and the liability limits of the at-fault driver, if lower than your UIM limits. Illinois law (215 ILCS 5/143a-2) requires this type of coverage if you purchase higher limits of uninsured motorist bodily injury coverage (UM).

Other Coverages That May Be Required

Physical Damage - Pays for damage to your auto. You may have to pay for part of the loss, called a deductible. Deductibles can range from $0 to $1,000. Illinois law doesn't require physical damage coverage, but your lender may. Depending on the value of your car, you may decide the cost of physical damage coverage is not worth it. Physical damage is split into two separate coverages:

Optional coverages

Further Reading On Business Auto Insurance

Read through helpful commercial auto insurance for small business to help you better understand polices you own or are buying.

Related articles:

IL Business Auto Insurance Quotes

Illinois Insurance

Request a Illinois Commercial Auto Insurance quote in Arlington Heights, Aurora, Bartlett, Belleville, Berwyn, Bloomington, Bolingbrook, Buffalo Grove, Carol Stream, Carpentersville, Champaign, Chicago, Cicero, Crystal Lake, DeKalb, Decatur, Des Plaines, Downers Grove, Elgin, Elmhurst, Evanston, Glenview, Hanover Park, Hoffman Estates, Joliet, Lombard, Moline, Mount Prospect, Naperville, Normal, Oak Lawn, Oak Park, Orland Park, Palatine, Park Ridge, Peoria, Plainfield, Quincy, Rock Island, Rockford, Romeoville, Schaumburg, Skokie, Springfield, Streamwood, Tinley Park, Urbana, Waukegan, Wheaton, Wheeling and all other cities in IL.

Illinois Insurance Rules And Regulations

There are regulations governing insurance in IL that you should be aware of that cover both business and personal insurance. These include the limits associated with certain types of insurance as well as the actual regulations that govern these insurance categories - as well as regulatory agencies. Let's take a close look at the regulations for insurance in Illinois.

Illinois Business Insurance

The first type of insurance that we will discuss is Illinois business insurance. The most common type of business insurance is called General Liability. Liability insurance protects businesses in a number of ways, but the main way that you can think of this type of insurance is as coverage for when someone brings a lawsuit against you for something that happens on your premises. So, for example, if someone were to slip and fall on a freshly-mopped floor within your store, then you might be responsible for their injuries. Liability insurance protects you in instances like these.

However, there are some types of business insurance that are required by law. The first is standard in almost every state, and it is known as Worker's Compensation insurance. In some states, you have to have a certain number of employees before you are required to carry this type of insurance, but in Illinois, if you employ at least one person either full-time or part-time, you have to have Workees comp.

IL Personal Insurance

There are a couple of different types of personal insurance that are regulated by law in Illinois that you need to be concerned with. The first is auto insurance. Any private individual that operates a motor vehicle must carry liability insurance on that vehicle with certain limits reached. The insurance companies are already aware of these limits and the insurance that they offer provides them. The limits are $25,000 per person with a total maximum payout of $50,000 per accident. In addition, there must be another additional $25,000 provided for property damage.

There are also some regulations governing life insurance in Illinois that you should be concerned with. Life insurance is regulated under Title 215 in the State of Illinois Statutes. One regulation is that Illinois residents are given a minimum period of 10 days to evaluate the life insurance. You can cancel at any time during these 10 days and receive a full refund. In addition, insurance companies must provide a guarantee of death and claim payment as well as cash value. Finally, insurance companies must provide a timely payment of claims and keep your medical information private.


If you are looking for state specific Commercial Auto Insurance quotes, costs and information: California Commercial Auto Insurance, Colorado Commercial Auto Insurance, Delaware Commercial Auto Insurance,Florida Commercial Auto Insurance, Illinois Commercial Auto Insurance, Kentucky Commercial Auto Insurance, New Jersey Commercial Auto Insurance, New York Commercial Auto Insurance, Oregon Commercial Auto Insurance, Pennsylvania Commercial Auto Insurance, Texas Commercial Auto Insurance, Washington Commercial Auto Insurance.

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