The average cost of a commercial truck accident is over $50,000. Insurance is a must! Commercial insurance can be pricey, especially if you’re insuring a semi-truck. In this article, you will find cheap commercial truck insurance companies that will help you to cut the cost on your premium and save with various discounts.
Be wary of using some smaller local companies that restrict you to a certain radius. Also, beware of companies that claim they offer no down payment car insurance or temporary insurance. Let’s begin with finding the right company for your business.
GEICO is a fabulous commercial vehicle insurance provider. There are two reasons why you should think about using GEICO. The first reason is that GEICO offers very competitive insurance rates. Commercial insurance can be very expensive and GEICO might give you the best online quotes. Also, GEICO is not a small insurance provider. GEICO has billions at their disposal. This means that you are given the resources to pay your claims. A company can offer low premiums but if they don’t have the funds to back up any claims, then your business is in deep trouble. This is why some smaller companies are stingy with their claim settlements and their way of handling claims.
GEICO received an A++ rating for financial strength from A.M. Best and Standard & Poor’s (S&P). These are two marks of excellence that say a lot about an insurance provider.
GEICO is one of the highest rated insurance providers in the annual JD Powers claims study, which is a positive sign for your business.
GEICO coverages include bodily injury liability coverage, property damage liability, combined single limit, medical payments, no-fault or personal injury coverage, uninsured motorist coverage, comprehensive physical damage coverage, and collision coverage. GEICO provides insurance for box trucks, food trucks, work vans, service utility trucks, and more.
Progressive insures over 1 million commercial vehicles. If you are ever at fault your business is given 4 basic liability & coverage options with Progressive. These coverage options include general liability, professional liability, workers’ compensation, and a business owners policy. If you or a passenger is ever injured, Progressive offers divine protection which helps to cover medical payments, personal injury protection, and pet injury coverage.
What I love about Progressive is that they offer many insurance options to trucks. Whether you need garagekeepers legal liability or on-hook towing insurance, you will definitely be covered.
Are you a risk manager? If so you will be glad to find out that Progressive offers Motor Truck Cargo insurance which provides insurance on the freight or commodity hauled by for-hire truckers. (MTC) insurance can’t be used on garbage trucks, limos, hearses, buses, passenger vans or ice cream trucks. You are also given non-trucking liability insurance, trailer interchange insurance, and rental reimbursement so that your business is still making money while your claim is being handled.
Progressive covers various different vehicles including:
Cars, light trucks, SUV’s, vans, dump trucks, tractor trailers, pickup truck utility trailers, motorhome/RV, bus (wheelchair buses not included), and limousines.
Progressive does not insure vehicles under the year 1931. Progressive also does not insure golf carts, military vehicles, monster trucks, race cars, or emergency vehicles.
Progressive’s vehicle protection includes:
- Physical Damage
- Individual Named Insured Endorsement
- Fire and Theft with CAC
Progressive offers top-notch truck claims services.
In case of an emergency, Progressive customers are backed by trained adjusters who specifically deal with truck insurance claims. Customers will have many hi-quality pre-approved repair shops available to them.
Progressive is a great option that even offers federal filings for businesses that engage in interstate trucking and hazardous materials. Not only do you have all that you need at your disposal you are given various discount options that you can take advantage of. Progressive allows you to save on health insurance, prescription prices, intuit online payroll. I encourage you to get a quote today.
The HartFord is another insurance company that did great in the J.D. Power Claims Study. On a 1000 point scale the HartFord received 878 points which was 4th best among insurance companies. In fact, the HartFord was one out of four insurance providers that received 5 out of 5 stars in the repair process section of the study.
One thing I love about the HartFord is their FleetAhead program. This program uses telematics and real-time data to help fleet owners identify risk and prevent accidents. Not only will you benefit from more safety, but you will also save more on your commercial auto insurance policy.
Everyone benefits from their FleetAhead program. Your customers will be satisfied. Your drivers will have more confidence. Risk and fleet managers will be thrilled by the improved safety.
With the HartFord you don’t have to worry about paying extra for more protection. One of the things that the HardFord offers is one deductible for two. With the HartFord you will be covered in case of an emergency. One deductible is applied when a single situation arises which causes damage to a vehicle covered by their auto policy and property damage covered by another policy from the HartFord. Also, your business will benefit from their waiver of subrogation and their glass repair of deductible.
Direct General is a well-known insurance provider that offers very cheap monthly insurance rates. Direct General offers insurance for fleets of up to 20 vehicles.
Covered vehicle types
The vehicle types that you can insure with Direct General include regular autos, SUV, vans, pickups, utility trucks, flatbed, stake body, straight trucks, steep vans, dump trucks, boom trucks, and trailers.
What I love about Direct is that you are able to save up to 15% on your policy. Here are just a few discounts that you can look forward to with Direct General. You can look forward to their affiliated package discount, paid-in-full discount, in-agency transfer discount, new business discount, and more.
With Direct General you won’t have to worry about will you qualify for commercial auto insurance. Direct General insures over 600 businesses including builders, contractors, landscapers, plumbers, realtors, courier services, and more.
Your business will enjoy Liberty Mutual’s risk control services, which helps you to lower the severity of losses on your business. Their Managing Vital Driving Performance tool helps to manage unsafe driving behavior to help prevent accidents.
In case of an accident you are given Liberty Mutual Expedite. Liberty Mutual policyholders are able to use their smart phones to snap photos of any damages for a faster claim estimation process. Policyholders are also given Guaranteed Repair Network, which is their partnership program with the top repair facilities in your area.
Infinity insurance was founded in 2002 and they excel in providing nonstandard auto insurance through more than 12,500 independent agents. Infinity is popular among the Hispanic community. Here are a few benefits of using Infinity.
One benefit is that foreign licenses are accepted at reduced rates. Are you a high risk driver with either a DUI, excessive number of speeding tickets, or a criminal conviction? If so, by now you know that getting insurance may be a difficult task. Infinity is a very flexible company and helps those with a bad driving record.
Business owners that need quick coverage will be able to benefit from automatic coverage for new newly hired employees. Make sure that you get a quote today. With Infinity you may be able to receive a large insurance discount if you have prior business experience, if you had prior coverage, or if you are insuring more than 1 car.
What I love about State farm is that they are one of the largest insurance providers in the world. Whether you live in Florida, California, North Carolina, Texas, Illinois, Ohio, Georgia, Tennessee, New York, Michigan, Nevada, Arizona, etc. You will not have any problems with State Farm. State Farm is available in all states and also your business is backed by all of the many State Farm resources. A.M. Best awarded State Farm with an A++ in financial strength which means that paying claims will not be a problem.
State Farm offers more than just the regular coverage options for your business. State Farm offers (ENOL) coverage. (ENOL) stands for Employers Non-Owned Car Liability. ENOL protect you when your employees drive their own vehicles for business purposes so that you will not suffer a financial loss in case an event happens.
Auto-Owners Insurance offers exceptional claim satisfaction. There are many ways that your business can save with Auto-Owners Insurance. You will be able to receive a lower premium with favorable loss history. On top of the common multi-policy discounts with Auto-Owners you can receive a discount when you are affiliated with certain groups and when telematic devices are installed in your vehicle. Lastly, you can also receive a discount for certain types of vehicles used for seasonal farming.
Coverage options included:
- Roadside assistance in all 50 states and in Canada.
- Newly-Acquired Autos coverage
- Medical Payments/Personal Injury Protection
- Additional Expenses coverage
- Hired Auto Liability (optional)
- Loan Gap/Lease Gap (optional)
- Diminished Value (optional)
Compare quotes today
There are many awesome companies on this list that will be able to handle all of your insurance needs at a low rate. I encourage you to compare prices to see which one offers better insurance rates in your state.