Best Commercial Truck Insurance for 2023

In the United States, there are over 3.6 million truck drivers employed by over 711,000 transportation companies. 

With so many trucks on our roads, it’s no surprise that finding the best commercial truck insurance is a top priority.

Commercial truck insurance, such as personal auto insurance, can include a mix of liability, collision, and detailed coverage.

Commercial truck insurance, unlike personal auto insurance, calls for larger coverage limits to account for heavier and more valuable vehicles, as well as the cargo they transport.

Those Who Read This, Ends Up Reading How To Get Very Cheap Car Insurance With No Deposit

What Is Commercial Truck Insurance?

Trucking companies, companies that use trucks, and individual truck drivers all require commercial truck insurance, which is a collection of auto insurance plans. 

This insurance protects you financially and legally against bodily injury and property damage, as well as provides coverage for specific cargo and trucking equipment.

Commercial trucking insurance, unlike commercial auto insurance, covers huge vehicles (such as semi-trucks) that are commonly used for construction, transportation of commodities, or agriculture. 

Commercial truck insurance considers the cargo or commodities being transported, as well as the vehicle’s size and kind. Tow trucks, cement mixers, pickup trucks, and tractors are among the commercial trucks for which they provide policies.

You Should Also Check Out How to Get Cheap Car Insurance in 2023

How Does Commercial Truck Insurance Work?

They include commercial truck insurance in the commercial auto insurance category. Truck drivers and firms that use trucks use commercial trucking insurance.
 

They gain truck insurance to protect individual vehicles, and the owner of such trucks is most commonly the one who purchases them. 

The insurance also only applies when the car is being used for business by the people mentioned in the policy. 

The cost of the policy is also determined by the individuals mentioned on the policy, as their driving record is a major factor in setting monthly rates.
 

Businesses and individuals who buy typically fall into one of the following categories:
 

• For-hire trucking companies that own a fleet of vehicles are referred to as motor carriers. They are in charge of their fleet’s insurance.
   
• They know individuals who own and operate their own trucking company as owner-operators. Individuals are most typically referred to by this expression, and they are the ones who own their automobiles. When an “owner” leases a vehicle from a motor carrier who owns it, the owner normally insures the vehicle.
   
• They know they know individuals who use their personal automobiles to transport things on behalf of their employer carriers. People who frequently transport goods for their company in their own vehicle may be asked to purchase their own insurance or may be reimbursed for insurance expenses by their employer.
   
• Any of these companies can purchase commercial truck insurance. It is possible to insure a single box truck or an entire fleet of semi-trucks. The owner must cooperate with an insurance firm to establish these elements when buying a policy.

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How Does the Coverage Works?

Coverage — specifies which damages, occurrences, and costs are covered.

Monthly Premium – the amount of money the policyholder must pay each month in order to keep the insurance active.

They know the amount an insured company must pay toward a claim before coverage begins as the deductible.

Policy Limit – the maximum amount that the insurer must pay for claims made under the policy.

For the coverage stated in the policy agreement, the policyholder pays a monthly premium. The insurance company will pay for damages, repairs, and medical or legal expenses related to a covered accident under the terms of the contract.

Typically, an incident is covered only if they list the vehicle on the policy. They list the driver on the policy, and the incident occurs when the company is open for business.

In the event of an accident, the policyholder must “register a claim” with the insurance company, which normally takes a few days. If the policy covers the incident, the policyholder handles all costs up to and including the deductible. The insurer will cover any expenses not covered by the deductible.

The way insurance companies manage expenses after an accident varies. Many insurance companies have a network of pre-approved repair shops that policyholders must employ to assess damages and repair their trucks.

The insurance company would then pay the shop in full and they would bill you for your amount based on your deductible.

Other insurance companies may urge you to search around for pricing quotes from several auto repair shops, or they may even send a representative to estimate the cost of repair.

What To Expect

Keep in mind that some insurers may use a reimbursement model, in which the policyholder pays all repair costs up front and the insurance company reimburses the policyholder for expenditures that exceed the deductible.

The optimum policy for you will be determined by the level of risk associated with an occurrence, the type of policy limit you require, and the cash flow of your company.

See Review of Allstate vs State Farm: Which Should You Use?

What Are The Requirements For Business Owners and Contractors?

Businesses that transport commercial trucks between states must comply with federal insurance regulations. Commercial truck drivers must have a minimum amount of insurance coverage with an accident, according to the Federal Motor Carrier Safety Administration (FMCSA). 

The amount of coverage required for a commercial truck driver is determined by the truck’s weight and cargo, according to Title 49, Section 387 of the United States Code of Federal Regulations. The higher the insurance requirements, the bigger the truck and the more dangerous the load.

The following is a list of the federal minimum liability requirements for trucks, broken down by the different categories of goods being transported:

• Non-hazardous freight (in vehicles under 10,001 lbs.) minimum liability coverage is at $300,00; 
• Non-hazardous freight (in vehicles over 10,001 lbs.) minimum liability coverage is at $750,000;
• Oil (transported by for-hire and private carriers) minimum liability coverage is at $1,000,000;
• Hazardous material or explosives (transported by for-hire and private carriers) minimum liability coverage is at $5,000,000;
• Cargo insurance of $5,000 per vehicle and $10,000 per event is required for motor carriers transporting household products. 

Furthermore, in order to receive a motor carrier (MC) number, business owners must submit proof of insurance to the FMCSA. This number allows them to transport cargo between states.

Other Requirements

Commercial trucks that move freight between states, such as semi-trucks, are subject to federal coverage minimums, while those that stay inside state boundaries are subject to state coverage minimums.

The amount of liability coverage required by states, like federal rules, is usually determined by the size of the vehicle and the sort of cargo it transports.

The liability coverage minimums for intrastate commercial vehicles in New York and California are based on the cargo (general freight, home products, or hazardous material) and a vehicle weight larger than 10,000 pounds, and are the same as the federal rules.

Household goods carriers are required to carry more cargo insurance in California, with a minimum of $20,000 per vehicle and $20,000 per occurrence. Some states, such as Texas, have a lower intrastate general freight coverage requirement ($500,000 instead of $750,000).
 

In addition, many states have their own insurance files. They normally need commercial vehicles, for example, in California, to get a Motor Carrier Permit and file an MCP-65 form.

To show that they have the proper liability insurance. Household goods movers must additionally file a TL676 form to ensure that they have enough liability and cargo insurance.

Similarly, tow truck operators in Texas must submit a Form T to show that they have adequate liability insurance.

Commercial truck drivers convicted of a DUI in Florida must file a FR 44 form, which must be kept for at least three years and confirm higher insurance limits.

What Does Commercial Truck Insurance Cover?

The term “covered incident” is used in this handbook. So, what is a “covered incident” in commercial truck insurance?

The number of persons covered by the policy, the number of people engaged in an incident, the type of truck, and the nature of the incident are all factors to consider.

Who Is Covered Under a Policy?

The business owner gains commercial truck insurance. It covers expenses for specified drivers, passengers, and anybody injured in a trucking accident.

Here’s a breakdown of who is covered by the various coverage found in commercial truck insurance.

Types of Coverage

Different trucks and their uses cause different insurance. As a result, they frequently design policies to combine a variety of different coverage options into a single policy that provides all the protection a business or individual requires.

The various coverage options are:
 

Primary Liability

The combined single limit (CSL) is a type of primary liability policy that covers both bodily injury and property damage.

Let’s say a policyholder is involved in an accident. If the driver causes damage to another person’s vehicle or causes an injury, the insurance will cover the cost of the affected party’s repairs and their medical expenditures.

The driver and the truck that caused the accident are not covered. Therefore, motor carriers choose to include medical costs and physical damage coverage in their policies.
 

Physical Damage 

Physical damage coverage pays for the costs of damage to the policyholder’s own cars involved in an accident, while primary liability covers the costs of injuries or damages to third parties. 

Collision coverage (damage caused by a collision) and comprehensive coverage (damage caused by an accident) are both included in physical damage coverage (non-collision losses or damage, such as theft or vandalism).
 

Uninsured/Underinsured Motorists 

Trucks used for commercial purposes are frequently the largest vehicles on the road.

If one of your trucks is involved in an accident caused by another vehicle, the at-fault driver may not have enough insurance to cover your injuries and property damage.

Instead, the charges will be covered by uninsured/underinsured driver policy.
 

Medical Payments

Because private liability insurance only covers bodily injuries to other people in an accident when your truck is at fault, it’s a good idea to get medical payments coverage, which will cover medical expenses for you and any passengers who may have been wounded as well.
 

Cargo Coverage for Trucks

In the event of an incident such as a fire or collision, motor truck cargo coverage guarantees the freight that a for-hire trucker moves from one location to another.

Truckers must legally insure their goods while it is in transit until they sign it for its final destination.

Motor truck cargo coverage is only available to for-hire truckers that operate semis, dump trucks, tractors, trailers, box trucks, cement mixers, cargo vans, dual pickups, flatbeds, and car haulers. 

Garbage trucks, passenger trucks, and ice cream trucks are among the other trucking vehicles that are not qualified. 

Furthermore, not many cargoes are covered by insurance. Art, jewelry, medications, tobacco, alcohol, live animals, and explosives are among the items that would cause separate coverage.
 

General Liability Insurance

While primary liability insurance covers injuries or damage sustained while driving the truck, motor truck general liability insurance covers injuries or property damage caused by a for-hire trucker or motor carrier that is not related to driving.

General liability insurance for trucks specifically covers:

Bodily Injury and Property Damage Liability

When a covered incident results in physical injuries to an individual or property, such as when a customer is wounded in a slip-and-fall at the truck depot, the policy provides liability protection.

Liability over the Advertising Injury and Personal Injury.

Medical Payments – pays for medical expenses incurred because of a covered incident that resulted in physical injury or death to an individual.
 

Completed Operations or Products – covers bodily injury or property damage caused by delivering another person’s goods incorrectly.

Damage to Premises Rented to You–temporarily covers damage to premises rented to you for seven or fewer consecutive days by the motor carrier.

This coverage restricts drivers to a 500-mile radius. It’s only available in combination with primary liability insurance. Motor truck does not cover individuals who conduct a company’s general liability.

The following vehicles are also not covered by general liability insurance for motor trucks:
 

• Garbage trucks
• Cement trucks
• Limos
• Hearses
• Buses
• Passenger vans
• Ice cream trucks
   

Non-Trucking Liability

Owner-operators who have a long-term lease with a motor carrier should have non-trucking liability (NTL) coverage. This will ensure that they are covered if they use the truck for non-business purposes. 

NTL coverage, for example, would cover medical and property damage costs incurred when driving a truck for personal reasons, such as grocery shopping.

NTL does not cover any operations that might be considered “business use,” such as moving freight, filling the gas tank, driving for maintenance, and cleaning. The motor carrier’s primary liability coverage would cover these actions.
 

Rental Reimbursement with Downtime

If they cannot use a commercial truck for business reasons following an accident, business owners who gain rental reimbursement with downtime coverage are eligible to use a rental truck or receive financial compensation. 

This is especially critical to ensure that the trucking company maintains a consistent revenue stream even if a truck is temporarily out of service.
 

The policy limit you set when selecting rental reimbursement with downtime coverage dictates how much money the insurer will pay per day if the truck is damaged. The insured will be reimbursed for the cost of a rental truck for a maximum of 30 days. 

Some insurers, such as Progressive, can even help you discover a suitable rental truck to serve as a temporary replacement.

While many insurers combine rental reimbursement and downtime insurance as a single coverage option, others offer the two as separate coverage options. 

Rental reimbursement pays for the cost of a rental truck when it is supplied separately, whereas downtime coverage pays for lost income if a rental truck is unavailable.

Rental reimbursement with downtime coverage is not available to all commercial trucks. The following vehicle types are the only ones that are covered:

• Dually Pickups
• Flatbed Trucks weighing over 16,000 pounds
• Refrigerated Trucks weighing over 16,000 pounds
• Stake Trucks weighing over 16,000 pounds
• Tank Trucks carrying over 1,400 gallons
• Dump Trucks weighing over 16,000 pounds
• Front Loaders weighing over 45,000 pounds
• Roll On Vehicles weighing over 45,000 pounds
• Straight Trucks weighing over 16,000 pounds
• Tractors

Trailer Interchange

Under the terms of a “trailer interchange agreement,” motor carriers may transport trailers that belong to other enterprises.

A trailer interchange agreement is a contract that specifies how a trailer will be transferred from one trucker to another to complete transport.

Typically, the trucker in possession of the trailer is accountable for any damages that occur while the trailer is in his or her control. Because the motor carrier’s own physical damage insurance does not cover rented trailers.

They require extra trailer interchange coverage to cover any physical damage caused by events. Which could be collisions, fires, theft, explosions, or vandalism.

This policy is only available for tractors/semi-trucks and pickups, and all motor carriers must also carry primary liability coverage. In Virginia, however, trailer interchange is not available.

Check out: How Much Does Car Insurance Cost In California

What Doesn’t Commercial Truck Insurance Cover?

Commercial truck insurance coverage will also specify exclusions besides what is covered.

They could relate exclusions to specific sorts of occurrences or cargo.

Many business truck insurance exclusions are identical to those found in commercial auto plans. These are some of them:
 

Damages Intentionally Caused

Insurance carriers do not cover damages or injuries caused by willful harm to another person or property.

Also, insurance fraud is defined as causing intentional harm intending to deceive the insurance company into paying for damages. Insurance fraud can cause both financial and criminal penalties.
 

Property of Others

Even if the person in charge of the property or automobile is protected under the policy, many commercial truck insurance policies do not cover damages to other people’s property, personal belongings, or automobiles. 

There are extra coverage options available if your company carries other people’s property or autos regularly.
 

Exceeding Policy Limits in Damages

Every policy will specify a maximum amount that the insurance company will payout in the event of a claim. Any damages over the coverage limit will not be covered. 

To increase coverage limits, business owners may want to add an excess liability (or umbrella) policy.
 

Certain Types of Cargo

Furthermore, commercial truck insurance policies exclude some types of cargo. These include assets like money and jewelry, as well as substances like alcohol, cigarettes, and medications, as well as contraband, live animals, property in the custody of another carrier, and explosive materials. 

Additional coverage options for various sorts of cargo, such as Hazmat Insurance and Livestock Cargo Insurance, may be offered in some situations.

Read also: 10 Best Car Insurance in California in 2023
 

How Much Does Commercial Truck Insurance Cost?

Commercial truck insurance costs between $2,000 to $18,000 per vehicle per year, which now depends on the truck and if owner-operators are going to be under a lease or their own authority.
 

The average commercial truck insurance policy, according to Progressive, costs $642 per month for specialist truckers and up to $982 per month for transport truckers (about $7,500–$12,000 per year). 

However, for owner-operators who have a long-term lease with a motor carrier, the carrier normally pays the primary insurance, reducing the amount of money the owner-operator has to pay out of pocket. 

Owner-operators are liable for all of their vehicle and driver insurance under their own authority, which raises prices. 

The cost of supplementary coverage might range from $2,000 to $18,000 or more, depending on how much or how little is required.

You should also check out: 10 Best Cheap Car Insurance In Florida 2023

What Are Those Factors That Affect the Cost of Commercial Truck Insurance Policies?

The cost of commercial truck insurance is determined by several factors. 

Also, the business owner can alter some to lower the quantity of coverage required, while others are an unavoidable feature of doing business. 

The following are some of the most important factors that influence coverage:
 

Vehicles that are Covered

Because of the increased danger of causing severe damage in an accident, heavier vehicles have higher insurance premiums. 

Furthermore, newer vehicles cost more to insure because they are more expensive to fix or replace in the event of an accident. The more vehicles in the fleet, the more expensive the coverage will be.
 

Location and Operating Radius

The cost of insurance is likely to be higher if drivers travel long distances (such as across a region or between states) rather than locally. 

Because there may be fewer stops along a route or the route may be unfamiliar, truckers with a greater operating radius are more likely to be involved in an accident. 

Furthermore, because commercial truck insurance rates vary by state, drivers in some states will probably pay more.
 

Vehicle Storage

When your trucks aren’t in use, where you park them can impact your insurance rates. The lower the cost of insurance, the safer the location. 

Commercial trucks parked in a garage or closed yard, for example, will pay cheaper rates than trucks parked in public areas or open spaces.
 

Cargo

Risk levels vary depending on the type of cargo. Because heavier or more risky cargo is more likely to cause more damage in an accident than lighter cargo, the insurance policy price will reflect this risk. 

Commercial truck insurance policies cover little cargo, such as explosives, drugs, and livestock, causing supplementary coverage.
 

Driving History

Driving history has a substantial impact on how much a business owner pays in commercial truck insurance premiums, just as it does with personal auto insurance. 

Because the risks are higher with larger vehicles, a motorist with a history of violations or accidents will see their insurance prices rise even more dramatically. 

Maintaining a clean driving record free of accidents and violations is one of the best methods to save money on insurance. 

Business owners who manage a fleet of several drivers should scrutinize driving records carefully during the hiring process and consider investing in additional driver safety training.
 You should also read: How Much Does Car Insurance Cost in 2023?

Amount of Coverage and Deductible

The higher the level of coverage necessary, the higher the monthly cost. One option to reduce monthly charges is to get a greater deductible. 

This alternative, however, is not without financial hazards. If your plan has a high deductible, it shows that the company will pay more money out of pocket before the insurance policy kicks in.

How Do You Find Cheap Commercial Truck Insurance?

Commercial truck insurance is critical and should not be overlooked. However, there are still methods to save money on insurance and locate the coverage that is both cost-efficient and effective. 

In reality, saving a few hundred or thousand dollars a month on insurance allows you to spend that money on other aspects of your organization. 

Finding discounts or opting for a policy with less coverage are the two most common ways to save money on commercial truck insurance. 
 

Multiple Price Quotes

Getting estimates from many truck insurance companies is a beneficial exercise because a firm can usually get equivalent coverage from different suppliers. 

Most commercial truck insurance companies can likely supply the coverage you require if your firm only requires basic protection. 

While some insurance firms make it easier than others, all will issue a price to potential consumers. If pricing is a major factor, shop around and get quotations from a few different companies.
 

Discounts

Discount for Commercial Driver’s License (CDL)

For-hire truck drivers with a Commercial Driver’s License (CDL) for at least two years may qualify for a liability coverage reduction.
 

Business Experience Discount

A business experience discount is available to owners who have been in business for over three years.
 

Prior Insurance Savings

Policyholders who have had continuous insurance coverage for the previous 12 months may be eligible for a discount on the following year’s insurance with some insurance companies.
 

Discount for full payment

Some insurance firms will provide clients a discount if they pay their payment in full at the start of their coverage. Customers of Progressive, for example, can save up to 15% with this offer.
 

Higher Deductibles

A high deductible coverage will save you money on monthly premiums, but it also means you’ll have to pay a lot of money out-of-pocket if you have an accident. 

If the drivers have a clean driving record, the goods transported are relatively low-risk, and the firm could cover the entire deductible with an accident, business owners may want to explore a policy with a higher deductible.
 

Lower Limits of Coverage

The policy limit affects the cost of commercial vehicle insurance. Monthly premiums will be reduced for policies with lower coverage limits. 

Instead of opting for the highest policy limit available, business owners should think about how much coverage they actually need.
 

Less Coverage

Higher monthly prices derive from more coverage, whereas lower monthly costs result from less coverage. Because of the large number of trucks in the fleet, business owners may not require specialized cargo insurance or rental reimbursement. 

It’s also possible to save money by sticking to the basic minimum of state or federal regulations with no add-ons.

Also read: 15 Best Cheap Car Insurance In Texas 2023

What Are Types of Trucks Covered?

A commercial truck insurance coverage can cover almost any truck. However, some insurance providers may only cover particular types of trucks. 

Furthermore, if they do not use them “as a truck” or in ways that this sort of coverage is intended. Some “trucks” may be covered under a conventional commercial auto insurance policy. 

Here’s a rundown of the many types of trucks that are often covered by commercial truck insurance.
 

Pickup Trucks

A personal vehicle coverage or a commercial truck policy may cover pickup trucks, depending on their intended purpose. 

Construction workers, landscapers, and any other person who uses a pickup truck for business reasons will almost certainly require commercial truck insurance, which includes liability, physical damage, and uninsured or underinsured motorist coverage. 

Personal auto coverage is suitable for those who use a pickup truck as their primary personal vehicle and do not own a business.
 

Cement Mixers

They know vehicles that deliver concrete to and from building sites as cement mixers. They hold the concrete in a constantly revolving drum on these trucks, which keeps it liquid. 

Cement mixers are prone to accidents because of their top center of gravity, which makes them more susceptible to spill over. Higher insurance premiums reflect the increased risk. 

Liability, physical damage, medical bills, and uninsured or underinsured motorists should all be covered for cement mixers.
 

Tow Trucks

Tow trucks are vehicles that move other automobiles or boats from one location to another. They should cover tow trucks for both liability and physical damage. 

On-hook towing insurance, which covers expenses for repairs on the automobiles being towed, would also benefit tow trucks. 

Particular plans offered by some insurance carriers may cover towing firms. For more information, see this comprehensive tow truck insurance guide.
 

Box Trucks

Large things such as furniture are transported using box trucks, also known as straight trucks. The rectangular (“boxlike”) cargo space immediately distinguishes these vehicles. 

iceboxThese vehicles range in length from 10 to 26 feet and weigh anywhere from 12,500 to 33,000 pounds. 

Cargo cutaways, ice box trucks, moving trucks, reefer/refrigerator trucks, and sleeper box trucks are all examples of box trucks.
 

Box trucks should have motor truck cargo coverage to safeguard the items and non-trucking liability coverage to cover the truck when it is not on the road, besides major liability and physical damage coverage.
 

Dump Trucks

Dump trucks are vehicles that transport loose materials to construction sites, such as sand and gravel. 

Basically, Dump trucks should consider policies for non-trucking liability, motor truck cargo, and rental reimbursement/downtime besides primary liability and physical damage coverage.
 

Semi-trucks & Tractors

Tractors are historically employed in agriculture for duties such as plowing and planting, whereas they use most of the other trucks on this list for moving products between two locations. Tractors are more likely to stay on a farm than to move on the road. 

However, because a tractor is one of a farmer’s most significant pieces of equipment, it’s critical to insure these vehicles as well. Agricultural insurance is sometimes available from insurers, and this coverage may include tractors.
 

A semi-truck is another typical tractor type (also known as a tractor-trailer or 18-wheeler). To transport freight, semis comprise a tractor unit that connects to a semi-trailer. 

Business owners that handle semi-trucks should seek coverage for motor truck cargo and trailer interchange, besides major liability and physical damage coverage.
 

Other Vehicles

There are various additional sorts of commercial trucks that should be insured besides the ones described above. These are some of them:
 

• Front loader
• Car carrier or Rollback
• Catering truck
• Delivery Van
• Flatbed truck
• Bucket truck
• Garbage truck
• Pump truck
• Agricultural truck
• Refrigerated truck
• Roll-on Vehicle
• Stake body truck
• Step Van
• Street Sweeper
• Tank truck

Check out this article: How Much Does Insurance Cost For A Semi Truck

Review On Some Of The Best Commercial Truck Insurance For 2023

Progressive

Progressive is an easy preference for the top overall commercial truck insurance provider because it has the largest market share among U.S. business insurance carriers, as well as a broad range of trucks insured and several discounts offered.
 

Pros:

• The best commercial vehicle insurance in the United States.
• It’s legal in all 50 states.
• Free state and federal insurance filings are available.
• Discounts of several kinds are available.
• Covers a wide variety of vehicle models.
   

Cons

• Consumer concerns in the past
• It will be necessary to cooperate with an agency.
• The size of the fleet that can be used is limited.
• It is possible that a travel radius will apply.
   

Hoe Does Progressive Work?

Progressive is the largest commercial vehicle insurer in the United States, according to the Insurance Information Institute, covering over 12% of the overall market.

They provide coverage for a variety of vehicles, including box trucks, tow trucks, tractor-trailers, dump trucks, cement trucks, garbage trucks, delivery trucks, and even ice cream trucks, in all 50 states.
 

Because of the breadth of coverage and services available, Progressive takes the top rank for the best commercial vehicle insurance. This carrier not only offers online rates and flexible coverage and payment choices for commercial truck customers, but it also offers skilled service.

Progressive offers free state and federal insurance filings and a specialized heavy truck claims service (usually issued within 48 hours).

General liability (bodily harm and property damage), comprehensive, collision, uninsured/underinsured driver, medical costs, and personal injury protection are all covered by Progressive truck insurance (PIP).

There are also options for motor truck freight, trailer interchange, rental reimbursement (during downtime), non-trucking liability, and fire and theft coverage.

Sentry

Sentry is a carrier that concentrates significantly on single-truck customers, although many carriers offer coverage for large enterprises and trucking fleets.

Owner-operators and enterprises with only one truck will appreciate their level of personal attention and industry expertise.
 

Pros 

• A variety of coverage possibilities
• It’s legal in all 50 states.
• Coverage for owner-operators and personal use liability is a specialty.
   

Cons 

• Online information is limited.
• Working with a local agent is required.
• Smaller business
   

How Does Sentry Work?

Since 1904, Sentry has provided dependable commercial insurance coverage. Though this provider is on the lesser side of commercial truck insurance, its network of 65 agencies, all of which specialize in trucking, provides coverage in all 50 states.

Even if you’re a single owner-operator, Sentry believes in personalizing the insurance experience by tailoring their commercial vehicle coverage to build just the policy you need. 

They have a knowledgeable claims team that understands trucking (and the issues and needs which come alongside it), and certified safety directors with over 20 years of experience in the industry. 

Sentry is our top alternative for the best for single trucks because of its experience and specialization, which is especially vital for non-fleet business owners.

Owner-operators, huge fleets, and everything in between can all benefit from policies. Sentry covers approximately 37,000 truckers and provides a variety of coverage options, including liability, physical damage, accident, comprehensive, motor truck cargo, and non-trucking liability (personal use). 

You’ll need to call or find a local agent to receive additional information because there are no online quotes available.

According to the NAIC, Sentry received an A+ AM Best rating in 2021 and had an above-average number of consumer complaints in 2020.

56 Claims can be readily filed over the phone, and once filed, they can monitor the status online. Sentry does not outsource its claims processing; instead, it employs its own claims adjusters who specialize in shipping hazards.

In addition, read: Best Commercial Truck Insurance for 2023

The Hartford

The Hartford is an easy pick for the finest commercial truck insurance for fleets, with specific programmes and rates suited to multi-vehicle organizations.

Pros

• Fleet-specific discounts, gadgets, and programmes
• It’s legal in all 50 states.
• Several gratis services are available.
• For fleets, they make special risk engineering services available.
   

Cons

• There are no online quotes available.
• Customers who possess a single vehicle have fewer alternatives.

Hoe Does Hartford Work?

The Hartford, a company which has been in business since 1810, is our top option for the greatest fleet coverage.

The Hartford makes provision for commercial insurance protection in all 50 states to single vehicles and fleets alike but really shines for mitigating risk for commercial fleets.

For your commercial trucks, you can get general liability, property, workers’ compensation, umbrella, and excess liability coverage from The Hartford. They include the following vehicles in the coverage:
 

• Trailers for dry freight and refrigerated freight
• Trucks that collect garbage
• Ambulances
• Trucks that dump waste
• Fire engines
• Attachments for snowplows
• Manufacturers of trailers
   

Single-vehicle plans have limited coverage options, and The Hartford readily admits that they “prefer to write Commercial Auto as part of a multi-line account,” although it’s certainly better suited for companies with many vehicles on the road.

The FleetAhead management program combines risk management and technology to help you reduce loss and assure safety while also increasing driver performance. 

They provide a variety of telemetry solutions, and consumers who purchase and use these programmes may be eligible for additional discounts. 

There are no online quotations available, so you’ll have to phone and chat with a customer service representative to gain additional information or a price.
 

They include additional complimentary coverages with your commercial truck insurance from The Hartford. Glass repair deductible waiver, one-deductible-for-two coverage, coverage for leased and loaned vehicles, and waiver of subrogation are just a few of the options available.

CoverWallet

Although CoverWallet is an aggregator (rather than an independent insurance company), it can aid commercial truck drivers get insurance for their cars in minutes online, with primary coverage starting at just $125 per month.

Pros

• Online quotations are accessible right now.
• In only a few minutes, you can buy insurance online.
• There are various coverage choices available for a broad range of trucks.
• Bad credit/driving record coverage is offered.
   

Cons 

• It’s an aggregator platform, not a single carrier.
• In some circumstances, pricing may take longer.
  
   

Hoe Does CoverWallet Work?

If you’re seeking low-cost commercial truck insurance, using an aggregator site like CoverWallet could be a good place to start.

Customers can get immediate quotations from many carriers for a wide selection of trucks and coverage options, earning this company our nod for best value.

CoverWallet, which was founded in 2015, uses artificial intelligence to make the insurance buying process easier for commercial customers.

They can provide quotations for general liability, physical damage, non-trucking liability, bobtail, cargo, trailer exchange, hired, and non-owned auto coverage in seconds, even from your phone.

CoverWallet can help drivers with negative credit and/or driving records discover and purchase insurance (though you should expect to pay more in premiums).

The following trucks are permitted:

• Shooters with a lot of power
• Food trucks are available.
• Trucks that dump waste
• Trucks in a box
• Car transporters
• Trucks hauling logs

The cost of basic truck insurance starts at roughly $125 per month, but it varies depending on the truck type, mileage/travel radius, region, coverage limitations, and other personal criteria.
 

They provide instantaneously most quotations, and they can purchase policies online in as little as a few minutes (with immediate proof of insurance available via email). However, certain drivers may want additional information before receiving a quote, and the process might take up to two working days.
 

With over 645 reviews on eKomi, CoverWallet now has a 4.7 out of 5 star customer satisfaction rating.

Check out: Best Commercial Truck Insurance for 2023

State Farm Insurance

State Farm takes the win for the finest customer service among commercial truck insurance carriers, including top satisfaction ratings and below-average consumer complaints in 2 out of the last 3 years.
 

Pros

• High levels of customer satisfaction
• Individual or fleet vehicle coverage
• It’s legal in all 50 states.
   

Cons

• There is a hoarding of information available online.
• You don’t find quotes available on the internet.
• Working with an agency is required.
   

How Does State Farm Work?

State Farm is our recommendation for the best customer service experience, whether you’re wanting to insure a single commercial truck or an entire fleet.

According to the NAIC, they came in second place for overall customer satisfaction in the J.D. Power U.S. Small Commercial Insurance Study in 2021, and received far fewer consumer complaints than expected (for its market share) among commercial auto customers in 2019.

Customers can get commercial truck insurance from State Farm for single or fleet pickup trucks, box trucks, tractor-trailers, and more. Liability, collision, comprehensive, personal injury protection (PIP), medical costs, and uninsured/underinsured driver coverage are all available through the organization.

In all 50 states, commercial vehicle insurance is accessible. State Farm’s website has limited information and no online quotations; instead, you’ll need to deal with a local agent to gather more information and build and buy your policy.

State Farm now has an AM Best financial strength grade of A++ (Superior), which is the best available.

Read also: How to Hire the Best Truck Accident Attorney for Your Case 

Conclusion

It is up to you and your organization to find the finest commercial truck insurance.

There are many trusted and highly rated carriers offering secure commercial truck coverage to match your needs, whether you have a single food truck, a fleet of tractor-trailers, or something in between.

References

• investopedia.com– best commercial truck insurance
• constructioncoverage.com– commercial truck insurance

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