In the United States, there are about 3.6 million truckers working for more than 711,000 trucking companies.
Finding the best commercial insurance for trucks is essential based on the number of trucks that use our roads.
Commercial truck insurance can include a combination of liability, collision, and comprehensive coverage, much like personal auto insurance. In contrast to personal auto insurance, commercial truck insurance requires a larger coverage limit to account for the weight and value of the vehicles and cargo they carry.
We researched different suppliers to find you commercial insurance for trucks in the United States. Keep reading to find out which commercial truck insurance makes the best of our list.
The Best Commercial Insurance For Trucks
Our top pick for commercial insurance for trucks and one of our top picks for truck-specific policies are progressive. Where they offer some discounts along with their coverage and can offer customized coverage, Progressive is adaptable and friendly. They have both an A+ rating for customer satisfaction from BBB and an A+ rating for financial strength from A.M. The best. Progress gets a high score for each variable we take into account.
General liability, non-trucking liability, rental reimbursement, trailer interchange, and cargo insurance are all offered by the company, along with state and federal filings that will allow you to demonstrate your insurance coverage. Additionally, they have a strong department for large truck claims.
Progressive is tough to beat in terms of features. Their own adjusters handle the processing of all claims internally, and they offer a wide range of coverages. However, they only received a 1-star rating from the Better Business Bureau for their customer service, which leaves much to be desired.
State Farm is a commercial insurance for trucks that offers business vehicle insurance in addition to consumer, family, and life insurance. However, they do not cover your cargo, which can be a deal breaker for the majority of commercial trucking businesses. Their policies cover bodily injury, liability, and more.
Most of the protections offered by their commercial coverage are the same as those you would get from a consumer auto policy without a lot of extras Progressive offers clear for large trucks.
Both in terms of features and customer service, State Farm falls short. On the basis of more than 3,000 reviews, Consumer Affairs only gives the business 3 stars. It is likely that you will need to go somewhere else if you are transporting goods.
For small company truckers, the Owner-Operator Independent Drivers Association provides a variety of plans and coverage alternatives.
OOIDA offers a wide range of possibilities, whether you’re an owner-operator with power or a lessee. With quick turnaround times and affordable rates, all underwriting is done internally.
OOIDA provides some of the best and most specialized policies available on the market because its sole emphasis is commercial truck insurance. The Better Business Bureau gave the business an A+ rating.
CoverWallet is a commercial insurance for trucks that can help businesses understand and purchase specialty insurance, make significant savings, and easily manage their insurance online by leveraging cutting-edge technology.
CoverWallet asks businesses to do a brief review so they can explain what you need to do to reduce your risk and make sure you’re covered for all of your needs.
The best tool to compare multiple best-in-class insurance providers is CoverWallet. Progressive, Liberty Mutual, Berkshire Hathaway, Chubb, Travelers, and others are some of these service providers.
CoverWallet could be the solution for you if you’re looking for a simple way to quickly compare affordable commercial truck insurance options.
A lesser-known commercial insurance for trucks called EIB Direct, also known as Evolution Insurance Brokers, specializes in trucking insurance, covering both long and short-haul trucks, fleets, trucking goods by motor trucks, and others.
For businesses that rent or lease trailers, EIB Direct provides insurance against non-owned trailer liability, physical damage, rented and non-hired vehicles, freight by motor trucks, and even truck liability. They work with elite insurers like Lloyd’s (formerly Lloyd’s of London), and their coverage exceeds the government limit of $750,000.
The strength of the EIB lies in its ability to create custom insurance policies for “difficult perils” or individuals who are unable to obtain coverage elsewhere due to prior legal troubles, dangerous goods, or Other circumstances that make buying insurance difficult.
However, there is a cost associated with coverage availability. EIBs sometimes have higher premiums than other insurers. However, the EIB should be seen as a potential option for those unable to obtain a basic commercial trucking policy with a more conventional insurance provider.
Farmer is the best commercial insurance for trucks for business-specific auto insurance by the contractor. Contractors can obtain insurance from Farmers for their company cars and the tools they transport inside the vehicle. And while they offer a wide variety of customizable coverage options for general commercial auto insurance, they go above and beyond for contractors and subcontractors.
Farmers is not only a large, well-known, and diversified company but also has an outstanding financial rating, which has been approved by A.M. Best, Moody’s, and S&P, respectively. Farmers are a great choice for general commercial auto insurance, but because of their skill in creating contractor-specific policies, they are our top choice for the construction industry. build and build. Read our thorough analysis of Farmer’s commercial auto coverage for more details.
Everything you require is covered in Nationwide’s basic business auto policy, plus some optional extensions. With scores close to A+ across the board for financial stability and customer satisfaction, and companies stand out.
Finally, Nationwide offers significant discounts to customers who subscribe to their real-time data monitoring service. Our Nationwide recommendation for commercial insurance for trucks is straightforward due to its wide range of insurance options, outstanding customer satisfaction scores, and solid financial standing. For more information, see our comprehensive nationwide review of commercial auto insurance.
The insurance companies on this list are always appreciated and famous for their quality of service. Review customer reviews, product offers, and quotes before choosing any truck insurance for your commercial trucking requirements. Comparing car insurance quotes now will save you time and money later.
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