Commercial Truck Insurance Companies
The Top Trucking Insurance Carriers In North America.
More than 3.3 million truckers are on the road today, and each one needs adequate insurance coverage. Whether you have your own fleet operating as an owner operator or working as an independent driver with a national carrier, it’s crucial to ensure that you have proper commercial truck insurance from a reputable company.
Compare Carriers and Save Up To 40%
What to Consider When Choosing a Truck Insurance Carrier
Do not base your choice of a just a single factor (ie... cheapest price)
We’re going to share some of the top trucking companies out there, but how do you know which one is the right choice for you? There are several things to consider when choosing a truck insurance carrier. Some of the most important ones include:
Company Reputation
Consider the carrier’s reputation. Their policies may be affordable, but if you need to file a claim, will they offer the level of service you expect and deserve?
Look for reviews online to see what policyholders have to say about the customer support team and claims process. If the insurance carrier has a poor reputation, move on to the next company on your list.
Ultimately, you want an insurer that has responsive, helpful customer support and will make the claims process as simple and painless as possible.
Coverage Options
Along with the company’s reputation, you also want to consider their coverage options. For example, do they offer the level of coverage you need to protect yourself and your business against risk?
The trucking business is inherently dangerous and comes with unique risks, so it’s essential to ensure that you have adequate coverage.
Consider the policy options carefully. Reach out and ask questions. Some insurance companies require you to work with local agents, so this is an excellent opportunity to learn as much as you can about your coverage options.
Insurers that specialize in trucking or have a dedicated trucking department are ideal because they will understand the unique needs and risks of your business.
Financial Strength
When looking for an insurance company, reputation, cost and coverage options are usually the first things to consider. But you should also consider the company’s financial strength. After all, you wouldn’t want to invest in a policy only to have the insurer go under soon after.
Solid financial strength is a sign that the company can pay out its claims and is a reliable carrier. If you find yourself needing to file a claim, you’ll appreciate having an insurer that has the funds to see you through the process.
Cost
Of course, the cost will also be a consideration. Some insurers charge more than others for their coverage. Others offer more discounts to help customers save money. Consider the costs of each policy before making a final decision, but don’t let that be the deciding factor.
Things like deductible costs, responsive customer support and quality coverage should also be taken into consideration. For example, you may save on policy costs with one insurer, but if they have terrible support, you will waste more valuable time and potentially spend more on your claim.
The bottom line? Cheaper doesn’t necessarily mean better.
These are some of the most important things to keep in mind when comparing insurance companies. Now, let’s look at some of the top insurers for trucking companies.
8 Best Commercial Trucking Insurance Companies
While there are dozens of commercial truck insurance companies out there, these eight are some of the best rated.
Progressive
Progressive is one of the largest commercial insurance companies in the U.S. They offer coverage for a variety of trucks, including box trucks, garbage trucks, tractor-trailers, delivery trucks, tow trucks and more. Whether you run an extensive fleet or operate as an owner-operator, Progressive likely has the coverage you need.
And because they have a multitude of discounts available, Progressive is often an affordable option for truck insurance. Policyholders can get discounts for things like having drivers with CDL certification or using electronic logging devices.
Quotes are available online, and they have flexible coverage options. But what really sets Progressive apart is that they have a special department for trucking. The insurance carrier offers expert support for commercial truckers and specialized heavy truck claims.
As far as coverage is concerned, Progressive offers:
• General liability
• Personal injury protection (PIP)
• Collision
• Comprehensive
• Uninsured/underinsured
• Medical payments
• Trailer interchange
• Motor truck cargo
• Non-trucking liability
Progressive also has other advantages, such as offering:
• Nationwide coverage across in the U.S.
• Free federal and state insurance filings
Progressive has been in business for nearly a century, and while they do have some customer complaints, they still hold a large share of the market. Their customer service is highly responsive and friendly, and agents are available 24/7 if you need to file a claim.
Plus, Progressive has attractive rates and so many coverage options that they can easily be a one-stop-shop for your truck insurance needs.
OOIDA
OOIDA is the Owner-Operator Independent Drivers Association. They offer a wide range of coverage options for small trucking businesses. They also offer a level of expertise that’s rare in this industry. After all, they are advocates for owner-operators and small trucking companies.
That being said, the process of obtaining coverage and getting a quote is a little more in-depth than with other insurers.
OOIDA’s truck coverage options include:
• Primary liability
• General liability
• Physical damage
• Motor truck cargo
• Passenger accident
• Non-trucking liability
• Unladen liability
• Bobtail liability
OOIDA’s insurance is designed for owner-operators with authority and leased owner-operators. They have special policies for both, which offer comprehensive coverage for each of these drivers.
In order to get coverage through OOIDA, you’ll need to become a member of the organization. Membership is $45 per year. You won’t be able to take the next step of obtaining coverage until you sign up for a membership.
Although OOIDA’s process is a little more complicated, you do get the benefit of working with an organization that is all about trucking. They know the business inside and out, which means they will offer the coverage you need.
The Hartford
The Hartford operates to serve commercial fleets with programs that are specific to fleets. As an insurer, the company has been in business since 1810, and they offer insurance in all 50 states.
Multiple forms of insurance are available to protect your commercial trucks, including:
• Dry freight trailers
• Refrigerated trailers
• Dump trucks
• Refuse trucks
• More
Insurance options through The Hartford include general liability, excess liability, workers compensation and umbrella insurance. When choosing The Hartford, you’re choosing a company that offers complimentary services and special risk options for fleets.
The only real downside of choosing this insurer is that they’re not designed for owner-operators or single fleet operations.
However, if you do run a fleet, you’ll be happy to work with the team at The Hartford because they work to customize your insurance policy. Each policy is designed to minimize your risks and keep you on the road. Plus, the team will help you eliminate gaps in your insurance that puts your operations at risk.
Policyholders also gain access to FleetAhead’s management program. The program aims to improve driver safety and performance while reducing the risk of loss.
Nationwide
Nationwide is one of the best insurance companies for new truckers and fleets. The insurer was founded in 1926, and their team of over 30,000 employees go to great lengths to ensure that customer satisfaction is far above average.
The insurer offers a wide range of coverage options, which provide robust insurance and helps you minimize risk.
You'll find coverage options for:
• Liability
• Collision
• Comprehensive
• Medical payments
• Personal injury protection
• Bodily injury
• Rental reimbursement
• Towing and labor
When you work with Nationwide, you can customize your insurance options and secure blanket coverage and out-of-state coverage, too. You can also insure your non-hauling vehicles.
One downside to Nationwide is that they don’t offer as many coverage options as other insurers. However, the coverage options and great reputation of the company are great for new fleets or truckers that need basic, affordable insurance and a responsive customer service team that is willing to answer any questions you have when applying for insurance or as a policyholder.
State Farm
State Farm is another big name in the insurance industry, offering impeccable customer service and excellent coverage options for commercial trucking.
Policyholders can obtain coverage for a fleet or individual vehicles, and the company can cover a wide range of commercial trucks. The insurance carrier offers coverage in every state.
State Farm’s coverage options include:
• Personal injury protection (PIP)
• Comprehensive
• Collision
• Liability
• Uninsured/underinsured
• Medical payments
State Farm offers excellent customer support. In fact, the carrier ranked number two in overall customer satisfaction in 2021 by J.D. Power and had fewer complaints than expected for their market share.
However, one drawback with this carrier is that you can’t get a quote online. You'll need to work with a local agent to get more detailed information about your coverage options and get a quote. That being said, State Farm does have friendly agents, and they provide multiple discounts to make their policies more affordable.
State Farm is a reputable insurance company with excellent financial strength. They offer comprehensive coverage options, but you’ll need to be willing to work with a local agent to obtain your policy. As a bonus, working directly with an agent ensures that you get all of the coverage you need.
CoverWallet
CoverWallet is a relatively new insurance company that was founded in 2015 and has upended the insurance industry with unique offerings. The company is an aggregator, and not an individual insurance provider, with some coverage options starting at just $125 a month.
When applying through the company, you benefit from:
• Artificial intelligence, designed to help you obtain the insurance you need
• Instant quotes online
• Coverage options for a wide range of trucks
With the tap of your phone, you can get instant quotes for many different forms of insurance, including:
• General liability
• Non-trucking liability
• Physical damage
• Bobtail
• Cargo
• Trailer interchange
• Hired
• Non-owner autos
• More
Even truckers with at high risk with bad credit will find insurance options through CoverWallet, but you’ll pay higher premiums because you’re a higher risk policyholder. However, you’ll find insurance options for box trucks, car carriers, dump trucks, food trucks, hot shotting, log trucks and more through CoverWallet.
Once you pay for your policy, you’ll receive proof of insurance directly through email.
While most quotes are instant, truckers with bad credit or those that have more complex policies may need to wait up to two business days before receiving an estimate.
Sentry
If you’re an owner operator or a business with a single truck, Sentry is an insurance carrier worth considering. Sentry specializes in single truck coverage (although they still offer coverage for large fleets), and they offer personalized service that owner operators will appreciate.
Coverage is flexible and available in every state. Customers have the ability to build the policy they need with only the coverage they need.
Sentry truck insurance coverage options include:
• Liability
• Comprehensive
• Collision
• Physical damage
• Non-trucking liability
• Motor truck cargo
Whatever your coverage needs, Sentry likely has a solution for you.
Although Sentry is a relatively small operation, the company has been in business since 1904. They have a network of more than 60 agencies that specialize in the trucking industry.
Like State Farm, Sentry does not offer online quotes. You’ll need to work with a local agent to learn about your coverage options and get a quote. But unlike other carriers, Sentry has a staff of claims adjusters who specialize in trucking. Policyholders can file claims over the phone and check their claim’s status online.
Sentry’s focus on trucking and personalized service makes them a great option for owner-operators and single-truck businesses. Working directly with an agent also means that you can build a policy that’s tailored to your needs and have your questions answered without having to jump through hoops.
EIB Direct
Evolution Insurance Brokers (EIB) may not be as well-known as other insurers on this list, but they’re still a reputable company that specializes in offering insurance to the following:
• Fleets
• Short-haul truckers
• Long-haul truckers
• Motor truck cargo
Trucking fleets can obtain a variety of insurance coverage through EIB Direct, including physical damage, truck liability, non-hired vehicle, hired vehicle, motor truck cargo and non-owned trailer coverage options.
Excess coverage is offered that surpasses the federal limit of $750,000.
A lot of truckers have never heard of EIB before because the insurer truly specializes in policies that are difficult or risky to offer. For example, truckers that have had legal issues or haul hazmat cargo will find that EIB can write policies to offer you coverage.
However, these policies are often more expensive because EIB works with truckers and fleets that can’t obtain their insurance through other insurers and have been denied in the past.
If you need insurance and haven’t had legal issues or you don’t haul hazmat, you may want to consider another insurance company to save a little bit of money on your premiums each month.
If you’re in the market for commercial truck insurance, these eight companies are a safe bet.
Each one has solid financial strength, good customer support and an excellent reputation. Some may require you to work with local agents to obtain quotes, but it’s often worth the extra step to find a policy that meets your needs and budget.