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.
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.
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:
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.
| Coverage Type | Minimum Requirement in Colorado |
|---|---|
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Property Damage Liability | $15,000 per accident |
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:
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.
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:
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:
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.
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.
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.
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!