Commercial Auto Insurance in Colorado

For business owners and operators in Colorado, having commercial auto insurance is essential to protect both their vehicles and their business. From busy city streets in Denver and Colorado Springs to rural highways and mountainous roads, practicing safe driving habits and carrying the right coverage is essential for businesses in the state.

No matter your needs, GEICO offers well-rounded protection at affordable prices, making it easy for all types of Colorado business owners to get the coverage they need to keep their vehicles, employees, and business safe.

What is Commercial Auto Insurance in Colorado?

Commercial auto insurance in Colorado is designed to protect vehicles used for business purposes. This coverage differs from personal auto insurance, as it covers the different scenarios that can present themselves while driving for work. The state requires a minimum amount of liability insurance, but business owners can choose to include additional coverage in their policy.

Even if driving isn’t a major part of your business, any vehicle used for business purposes needs commercial auto insurance. It’s also essential to include all employees who will drive the vehicle on the policy so that everyone is properly protected while operating it.

With GEICO’s commercial auto insurance, policyholders can drive vehicles for personal use without needing a separate policy.

Who Needs Commercial Auto Insurance in Colorado?

Since any business that uses a vehicle for work needs commercial auto insurance, many different types of professions require this coverage. Whether you manage several delivery vehicles or just use a personal car to meet clients, having commercial auto insurance is still necessary.

GEICO offers coverage for a wide range of businesses across different industries, including:

• Electricians, plumbers, and HVAC professionals who drive to customer locations with tools and equipment.
• Carpenters, painters, and other contractors transporting supplies to job sites.
• Landscapers and plow services operating trucks and trailers for outdoor projects.
• Caterers and food vendors, including food trucks, require protection for their vehicles and permanently attached equipment. Food spoilage, food-borne illness, product liability, equipment breakdowns, and allergic reactions are not covered.
• Other businesses, like real estate agents and sales professionals, who regularly drive for work-related appointments.
• Long-Haul Trucking who drive long distances carrying valuable cargo while adhering to strict safety rules.

Minimum Colorado Commercial Auto Insurance Requirements

Colorado requires all business owners to carry a minimum amount of liability coverage as part of their commercial auto insurance policy. Liability coverage is the only mandated insurance type because it protects other people and their property in the event that your business vehicle causes an accident.

Optional Commercial Auto Coverages & Add-Ons in Colorado

Although Colorado’s state-mandated minimums provide business owners with a solid starting point, many opt for more complete protection. Optional add-ons go beyond protecting other drivers, focusing on safeguarding your vehicles, employees, and business finances.

Additional coverage offered by GEICO includes:

• Collision Coverage: Covers damage to your vehicle if you hit something or are in a crash.
• Comprehensive Coverage: Pays for things like theft, vandalism, or weather damage.
• Medical Payments Coverage: Helps pay medical bills for you and your passengers after an accident.
• Uninsured/Underinsured Motorist Coverage: Protects you if another driver doesn’t have insurance coverage.

FMCSA and USDOT Compliance in Colorado

The FMCSA, or Federal Motor Carrier Safety Administration, and the USDOT, or the United States Department of Transportation, are government agencies that establish rules and safety standards for businesses operating commercial vehicles. Meeting their standards is very important for business owners in Colorado, as failure to comply may lead to fines, legal trouble, or even losing the ability to operate their vehicles for business purposes.

Commercial auto insurance ensures that vehicles and drivers are properly covered, protecting the business, its employees, and its finances while following federal and state safety regulations.

Types of Vehicles Covered in Colorado

GEICO offers commercial auto insurance for a wide variety of vehicles, from large trucks to standard personal vehicles. Some vehicles, like food trucks, have special considerations, so it’s important to research your specific vehicle type before selecting a plan. Types of vehicles commonly insured by GEICO include:

• Business Vehicles – Cars, pickup trucks, or SUVs used for deliveries or running errands.
• Contractor Vehicles – Work vans or trucks used to carry tools and equipment.
• Delivery & Service Vehicles – Vehicles used for things like delivering goods or fixing appliances.
• Food Trucks & Restaurant Vehicles – Food trucks, catering vans, and vehicles used for food delivery are protected against physical damage and damage to permanently attached equipment. However, food spoilage, foodborne illness, product liability (e.g., hot beverages), equipment breakdowns, and allergic reactions are not covered. Food-related illnesses fall under General Liability, since the customer is considered “injured” by the business. You can also add business personal property protection to GL to cover additional business items.
• Heavy Trucks: Big vehicles like tractor-trailers, dump trucks, box trucks, flatbeds, and cargo & freight.
• Owner-Operator Trucks: Trucks or vans that are run by independent drivers, even if leased to a company.
• Non-Trucking Liability: Covers trucks when they aren’t hauling anything or working.
• Specialty Vehicles: Unique vehicles like refrigerated trucks or buses.

Factors Affecting the Cost of Colorado Commercial Auto Insurance

The average cost of commercial auto insurance in Colorado is generally close to or slightly above the national average. Factors like the state’s population, traffic density, and overall accident rates contribute to this difference.

Still, personal factors such as your type of business, the vehicles you drive, and the coverage you choose will have a bigger impact on the premium you actually pay:

• Type of Work You Do – Jobs like delivery or construction may cost more to insure.
• Type of Vehicle – Bigger or special-use vehicles (like box trucks or food trucks) are more expensive to insure.
• Driving History – If your drivers have clean records, you’ll likely pay less. Accidents or tickets can raise your rate.
• How Far You Drive – If your vehicle travels long distances or goes through busy areas, your costs may increase.
• Coverage Amounts – More coverage means better protection, but it also raises your premium. Choosing the lowest legal limits costs less but offers less protection in the event of a serious accident.

Also, it’s important to keep in mind that the size of a settlement generally doesn’t impact insurance costs. However, other factors like at-fault vs. not-at-fault accidents do.

How to Save on Commercial Auto Insurance in Nebraska

Regardless of how the factors above affect your rate, the most effective way to save on commercial auto insurance is by taking advantage of available discounts. GEICO offers a wide range of savings opportunities, providing almost every policyholder with the opportunity to lower their costs.

• Pay in Full: You can save money by paying your entire bill at once instead of monthly payments.
• DriveEasyPro Rewards and Savings: Our telematics program can reward you with lower rates for safe driving. DriveEasy Pro is designed to help you understand your driving habits and may help you unlock savings.
• Vehicle Equipment Features: Business vehicles with certain safety features such as anti-lock brakes, airbags, anti-theft devices, or auxiliary running lamps may qualify for lower rates.
• Good Driving Record: Drivers with clean driving records may qualify for lower rates because they’re less likely to be involved in accidents.
• Defensive Driving Discount: Eligibility varies by state, but completing a defensive driving course may help you save even more.
• CDL Experience Discount: Based on the number of drivers with a Commercial Driver’s License (CDL), your business may be eligible for extra savings.

Why Choose GEICO for Colorado Commercial Auto Insurance?

GEICO is the top choice for commercial auto insurance in Colorado due to its strong reputation for reliability, excellent customer service, and flexible coverage options.

For instance, GEICO has been insuring business owners across many industries for decades, providing support when it’s needed most. Plus, with, live customer service representatives policyholders can get the help they need, right when they need it. GEICO also offers a wide range of coverage for different types of vehicles and flexible payment plans, making it easy for business owners to create a plan that fits both their needs and their budget.

How to Get a Colorado Commercial Auto Insurance Quote from GEICO

Now that you know why commercial auto insurance is so important in Colorado, it’s time to take the first step to get the coverage you need. GEICO makes it simple, and —getting a free quote only takes a few minutes and can be done either online or by phone.

Don’t wait until something goes wrong—get your free quote today!