How Much Is Insurance On A Box Truck?

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   Terry A. McCarthy, CLU, ChFC

   President, Insurance Associates Agency Inc., West Chester, OH

   There is no way to answer this general question but I can provide you some guidance. If this is a commercial use vehicle the vehicle will be rated on where it is operated, how it is operated, radius of operations, and the industry it serves. Then we'll need to know the coverage required. Commercial vehicles have the same coverages as you will find on a personal auto policy. A vehicle insured as I suggest for business with full coverage and used as a service vehicle, will cost from 3-7% of its value new each year for the liability and physical damage coverage. I just insured a 2014 work van used for service by a property owner and a value of $33,000 MSRP new and the insurance cost was under $1,100 a year for $1 Mil CSL Liability and UM/UIM, $5,000 Med and $500 comp and coll deductibles in Ciincinnati. Use as a guide only. Your mileage may vary.

   Answered on February 2, 2015

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