List Of Top 10 Commercial Truck Insurance Companies

Are you in the commercial truck transportation business or looking to come into it?

We have listed the top 10 commercial truck insurance companies based on their prices, customer satisfaction, claim process, and many factors.

Commercial truck insurance becomes the first need of a commercial truck owner.

Teer is approx 4 million truck drivers and many truck businesses available. Do you ever think about how many cases happen on the road with that commercial ain’t?

Commercial truck costs a lot to its owner. And you don’t know what can happen to your vehicle.

So, safety is your security. So, I advise you to choose the best truck insurance company for your truck, with all the needed coverages.

The Best Commercial Truck Insurance Companies for Commercial truck insurance cover a truck business that operates a truck.

This guide explains everything a business owner can expect to know to purchase commercial truck insurance policies and insurance companies for commercial trucks.

More specifically, this article will review what truck insurance does. Let’s start by showing the list of trucking insurance companies.

But first, you need o understand commercial truck insurance definition.

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What is commercial truck insurance?

What is commercial truck insurance?

Commercial truck insurance is a policy that covers your vehicles when transporting goods or materials for business.

People buy insurance for their commercial vehicles. Your insurance company will provide you with a list of questions to answer when applying for a truck insurance policy.

Drivers should understand what they’re getting when purchasing truck insurance.

Each fleet has different insurance needs from the other truckers. So, choose the best truck insurance company which suits your requirements.

For example, manufacturers have unique insurance requirements, such as prompt delivery of parts. Restaurant owners purchase insurance for their delivery trucks, so they don’t lose meals while on the road.

Retail stores require bodily injury coverage, while farmers buy liability coverage for their livestock on the road. In most cases, drivers purchase commercial truck insurance through a direct-written plan or on their own insurance company’s website.

A typical policy includes bodily injury coverage, which pays the medical costs of injured people. Property damage payouts replace your vehicle if it’s vandalized or destroyed by natural disasters such as lightning strikes. Liability covers your financial costs if someone is injured or damages property while inside your vehicle.

However, you must have a valid commercial license to drive a commercial vehicle in most states in the US.

Drivers need commercial truck insurance to safely transport goods and materials for business without risking financial responsibility toward their customers or employers.

Truck insurers provide various coverages to suit different shippers’ needs- including liability and bodily injury coverage- making it easy for consumers to purchase affordable truck insurance plans online or at an agency office.

And I suest you choose between these top 10 commercial truck insurance companies. But before that, let’s have a look at the next point-

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What is the benefit of commercial truck insurance?

Insurance companies for commercial trucks provide you with various policies which cover many tins, which are as follows.

In all these scenarios, you don’t need to pay anything truck insurance company will adjust everything.

How does commercial truck insurance work?

Commercial Motor Vehicle Insurance (CMV) is mandated by the U.S. Department of Transportation (DOT) for any carrier.

Commercial Truck Insurance, aka CDL Insurance, is the name given to a type of motor vehicle insurance policy designed to protect drivers who operate trucks while hauling loads over long distances.

These policies cover the driver’s liability for injury or property damage on behalf of the company they work for.

These types of policies are often referred to as “trucking insurance.”

Underinsured/Uninsured Motorist Coverage, Medical Payments Coverage, Property Damage Coverage, Automobile Liability Insurance.

This coverage pays the insured person a specified amount if injuries result from an uninsured or underinsured automobile operation.

Property damage coverage compensates the insured for losses resulting from damage to cars, trailers, equipment, and other items.

Medical payments coverage provides compensation for medical expenses incurred by someone else due to injuries caused by a car accident. This coverage is optional.

The last kind of coverage a driver should have is automobile liability insurance. This coverage protects the car’s owner from legal liability for bodily injury or property damage arising from its use, including legal claims against the owner, such as negligence and wrongful death.

Let’s start with the list of trucking insurance companies-

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Top 10 Insurance Companies for Commercial Trucks

Chubb- Best truck insurance company

Chubb Limited is an American company, a leading provider of property and casualty, accident and health, reinsurance, and life insurance products globally. Chubb is one of the top 10 Commercial Truck Insurance Companies.

It is the best publicly traded property and casualty company in the world. Initially, it was started as a marine underwriting business in new york, focused on ensuring sips and cargo.

And now, chubb operates in 54 countries and almost all territories worldwide.

Chubb achieved an award of best-admitted property/casualty insurance company by Business insurance in 2007. Chubb wrote a ross premium worth $46.8 billion in 2021.

Here are some other facts to consider chubb as an insurance company for you-

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Farmers insurance group-

Farmers insurance group is a private company (informally farmers ), an American insurance group of vehicles, homes, and small businesses. It is one of the best commercial truck insurance companies.

Apart from that farmer’s insurance group also provides other insurance and financial services products. Farmer’s insurance group covers tree segments, farmers, fire, and trucks.

They offer a wide range of insurance like hometown insurance, auto, commercial, and financial services trout the US directly or via their subsidiaries, companies, and affiliate companies.

They also have their ios and android apps which you can download and get a quote online quickly.

FIE specializes in providing low-cost car insurance to individuals who otherwise would not qualify for car insurance due to a history of claims.

Today, they insure nearly 15 million vehicles throughout the United States.

Their extensive network includes agents that specialize in specialty vehicle coverages. They can customize a policy for almost any type of vehicle.

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Nationwide Insurance Company

Nationwide insurance companies and other affiliate companies are commonly shortened to nationwide.

Nationwide is a group of US insurance and financial services companies. Nationwide ranked number 80 in 2022in fortune 500 and 21 in fortune 100 best companies to work for.

Nationwide is a Fortune 500 company offering numerous products and services to residential and commercial customers.

They provide coverages for cars, homes, boats, RVs, personal belongings, and more.

Their Nationwide Car Care program offers affordable maintenance plans for cars and trucks.

Nationwide is one of the most comprehensive insurance and financial services companies focusing on domestic property insurance.

Progressive-

Progressive is 3rd largest American insurance company and the number 1 commercial auto insurer in the USA. Progressive insurance company mainly operates in three segments.

This company ensures passenger vehicles, motorcycles, RVs, Trailers, Boat & Pwe, and commercial vehicles.

It also provides some life, pet, and other insurance trou selected companies. This company services internationally.

They expended in Australia also. This company was ranked 74 in 2021 by the fortune 500 lists of the top American corporations.

This company has always lived up to its name by innovating new insurance products based on customers’ needs and satisfaction.

Progressive also provides insurance-related services like policy issuances and claim adjusting services in 25 states.

You can also get another discount on progressive insurance by snapshot premium.

In this voluntary-based program, drivers can save money on their car insurance by sarin their driving habits with progressive.

Here, you pay as you drive. This is the best option for those who drive safer, drive less, and at safer times of the day. Here, you will be given a small device that you need to plug into the OBD port of your car.

And you also get your discount by check-in progressive app and looking at the projected discount.

State Farm Insurance-

State Farm was founded in 1922 and currently provides homeowners, auto, and renter’s insurance, life insurance, and retirement accounts.

It is an extensive group of mutual insurance companies throughout the US. State firm insurance operates with 30 operational centers and 343 claim offices.

Tey service in banking, insurance, and investing sectors. State firm is the latest property and casualty insurance provider in the US.

They ranked 42nd in 2022 in the fortune 500 WIC list of American companies by revenue.

State firm also operates with their agents known as captives. And they can only sell state-firm insurance and products.

Here, if you purchase anything as a single product, it will be costly for you will if you buy something in bundle ten, you will save money insistently on state firm insurance.

State firm also provides customized, personalized insurance as per your need and 24/7 roadside assistance. And if you want additional discount benefits, you can get by their drive safe and save and steer clear services.

On drive safe, you can save up to 30% on your insurance.

So, downloading their drive safe and save app while steering clear is for teens and young adults to improve their driving skills.

State firms do this because they are also involved in preventing roadside accidents.

And to avail of this, you must be under 25 years, and valid driving license, and have had no accident & moving violations during the past three years.

And for that, you can download their steer clear app and save up to 30% on your insurance.

Berkshire Hathaway-

Berkshire Hataway guard insurance is a private company founded in 1982 by Wilkes barre, Pennsylvania, in the USA.

This company covers property and casualty insurance.

This insurance company serves many small business owners and enterprise-level multinational brands offering traditional insurance policies trou EICO and biBERK.

Hartford Insurance

Hartford is American based investment and an insurance company. It is one of the fortune 500 companies and S &P 500 component. And it is one of the top 10 Commercial Truck Insurance Companies.

Hartford is 13t latest property and casualty insurance company. It primarily sells trou agents and brokers.

Hartford is also involved in other insurances like auto& some insurance. They also have star ratings based on thousands of reviews. You can have a look here-

Allstate corporation

Allstate insures over 30 million residents across North America. While not explicitly focused on the trucking industry, they carry various policies, including auto, home, renters, motorcycles, boating, and much more.

Their coverage options range from liability only, collision only, comprehensive, and various combinations.

In addition to their standard policies, they offer discounts if you have additional endorsements (like roadside assistance or theft protection) along with discounts for safe driving courses.

Insureon

Insureon provides insurance products in almost every industry. Here is a huge list of insureon business insurance-

Insureon has partnered with top insurance companies in the US and provides you with customized insurance plans.

You might think is insureon legit? Then yes insureon is completely legit.

Insureon has been around in the insurance business for the last decade. Insureon is a platform where you can compare your custom insurance plan with all the websites in one place.

And till now, they have insured more ten 350,000+ small businesses with over 1 million policies. Insureon provides different kinds of insurance products like-

We are also going to cover insureon reviews very soon.

Travelers

Travelers have been around insurance segments for more than 165 years and are the latest insurance carrier in the US.

This company protects and provides different kinds of insurance products for your home, your car, your valuables, and your business.

Travelers as expertise and focus on innovation which has made it a market leader in personal, business, and specialty insurance segments. 

Travelers operate with 30,000 employees and 13,500 independent agents and brokers.

This company has been rewarded with many awards and ettin recognition daily. Travelers are one of the top 10 companies for personal insurance and number 1 for workers’ compensation insurance in the united states.

This company deals with business segments, Bonds & Specialty Insurance. They serve a broad geographic presence across the United States and selected international markets.

Primarily travelers Insurance offers property and casualty insurance and insurance-related services in the United States, Canada, the United Kingdom, Ireland, and risk management services in other parts of the world.

Travelers is a leading property, auto, and marine insurance provider. In addition to being a global player in insurance, they are involved in real estate investments, mortgage lending, and mutual funds.

How do I find the Best Commercial Truck Insurance Company?

Finding the right commercial truck insurance is not necessarily tricky. However, it takes time and patience to identify the best commercial truck insurance companies for your business. Below we have provided some tips on how to get started. Or you can look at the top 10 Commercial Truck Insurance Companies for any policy.

First thing first. You should ask someone who knows about this type of insurance if they know any good companies. Ask friends, family members, and co-workers.

There may even be a company that offers coverage only for trucks. If you decide to take out a policy, make sure the company writes business owners’ policies instead of personal auto policies.

Most business owners tend to carry a lot of liability and workplace injury claims. That’s where commercial truck insurance comes in handy.

Also, look at the different deductibles of commercial vehicle insurance. Deductibles vary depending on the size of your fleet. Smaller fleets might require a higher deductible than larger fleets.

Once you have decided on the appropriate deductible, compare rates across various providers. Not all insurers offer discounts for being loyal customers.

You want to find a provider that offers discounts for having fewer drivers on their plan. You should also consider the cost of repairs about the average age of your fleet.

Older vehicles need frequent maintenance, whereas younger cars tend to break down less often. Compare quotes based on these factors.

Finally, check your credit score before committing to an insurance policy. Insurance companies use this information to determine whether you qualify for a lower premium.

Low scores indicate that you probably don’t pay your bills on time. If you cannot afford your premiums, try getting a loan or financing option to help reduce your payments.

There are many different types of commercial truck insurance policies. These cover various aspects of your vehicle.

A comprehensive policy covers all parts of your car, while a collision policy pays for damages due to collisions.

You should ask questions about your options until you feel comfortable with what you are purchasing.

Conclusion- Top 10 Commercial Truck Insurance Companies

Being a commercial truck owner, you always need a commercial truck insurance company. Commercial insurance companies insure your vehicle.

This way, you manage your risk factor associated with commercial truck transportation.

So, if you were also looking for a truck insurance solution, we have mentioned the top 10 Commercial Truck Insurance Companies. You can choose between any insurance companies for commercial trucks.

You can consider these insurance companies for commercial truck insurance without worries. Share if you found our list of trucking insurance companies helpful in selecting the best truck insurance company.

Here is our recommendation choose between the top 10 Commercial Truck Insurance Companies.

Overall best truck insurance company: Progressive

Best for Fleets: The Hartford

Best Customer Service: State Farm