There are many different aspects to consider and evaluate when looking for the best vehicle insurance for commercial vehicles. To protect businesses from liability and loss following an accident, theft, or another incident, this coverage is essential for companies that own cars or even send employees to work. . errands by their personal means.
To determine which company offers the best vehicle insurance for commercial vehicles, the best features, and the most affordable prices, we analyzed more than a dozen different commercial auto insurance providers. Continue reading to learn which businesses we support and why.
Contents
What Is The Best Vehicle Insurance For Commercial Vehicles?
Progressive Commercial
The largest vehicle insurance for commercial vehicles in the nation, Progressive offers a wide range of services. Commercial auto insurance from Progressive offers many customization options. When you need more or less vehicle coverage at specific times of the year, the company even lets you adjust your policy to change with the seasons.
Progressive offers a variety of discounts on its commercial auto insurance policies, including CDL discounts, bundle discounts, and EFT pay discounts. If Progressive has insured your personal vehicle, you’re also eligible for a discount.
On average, Progressive charges $205 per month for business auto insurance, according to its website. But keep in mind that depending on whether you buy insurance online or over the phone with an agent, Progressive’s costs can vary.
AM at Progressive is very strong. The NAIC Claims Index for commercial vehicle insurance, which has the best A+ rating, is 0.67, well below the US average. The most recent ratings of J.D. Power on car claim satisfaction is 861 out of 1,000, well below the industry average.
The Hartford
One of the most well-known and reputable brands in the vehicle insurance for commercial vehicles field is The Hartford. This 200+-year-old business specializes in providing commercial auto insurance to fleets of vehicles owned by businesses. This vehicle insurance for commercial vehicles offers a wide range of services, such as towing insurance, rental reimbursement, and lost downtime. It also makes handling repairs simpler no matter where you are, thanks to a network of more than 1,000 auto repair shops.
Liability, collision, comprehensive, uninsured/underinsured motorist, medical billing, and non-owners insurance are among Hartford’s available coverage options. In addition, the business offers various special services and discounts.
Hartford is rated A+ by A.M. Best, but according to the most recent J.D. Automotive Satisfaction Study. Power ranks below the industry average. To receive a quote or purchase a policy, you must also phone an agent.
Farmers
Non-owned, uninsured/underinsured autos, liability and comprehensive coverage are among Farmer’s standard commercial auto insurance options.
Additionally, Farmer offers vehicle insurance options for commercial vehicles that you won’t find elsewhere, such as protection for food trucks. By combining auto insurance with other insurance options available to restaurant owners such as equipment failure, food contamination shutdowns and spoilage insurance, this solution allows you to tailor your policy to your needs. its needs.
Farmers don’t offer quotes online, so you’ll need to deal with a nearby agent to get a policy. It got an A from A.M. The Best rating is a bit lower than its competitors, and the Farmers discounts aren’t as much. However, for some organizations, its specific coverage of single vehicles makes it worth taking into account.
Auto-Owners
All popular policy options, including comprehensive and collision payments, liability and medical, are available from Auto Owners. Additionally, this vehicle insurance for commercial vehicles provides roadside assistance and insurance for newly purchased vehicles. It will also help cover any other costs you may incur as a result of an auto breakdown, such as those related to renting a car or booking a hotel.
One of the few insurers selected to receive an A++ rating from AM Best is Auto-Owners. According to a 2022 study by J.D. Power, it also ranked first in independent dealer satisfaction. However, the organization does not provide quotes online, so if you want to buy a contract you will need to talk to your local agent.
Sentry
Sentry provides vehicle insurance for commercial vehicles, physical damage and non-transport liability for commercial vehicles. The latter makes business a great choice for contractors as it protects you if you occasionally use your work vehicle for personal purposes.
Sentry offers customers who participate in training programs a number of discounts. These include online safety and theft prevention classes, as well as video training sessions.
Sentry has an A+ rating from A.M. Best though not rated in the J.D. Automotive Satisfaction Study. Power most recent. You must call the company’s toll-free number as it does not offer online quotes.
Travelers
Passenger cars, light trucks, large vans and fleets are all covered by Traveler insurance. It provides liability, uninsured/underinsured motorists, physical damage and industry-specific coverage for the public sector and oil and gas business.
Both large and small fleets are suitable for Traveller’s commercial insurance. This vehicle insurance for commercial vehicles offers coverage in most states but does not offer online quotes. To get a quote and buy a contract, you need to work with an agent nearby.
The most recent US Auto Insurance Claim Satisfaction study from J.D. Power’s Traveler rating is significantly below the national average despite an A rating from AM Best.
State Farm
The commercial plans from State Farm can be tailored to suit your requirements. Personal and rental vehicles, as well as your and your workers’ medical expenses, are covered by insurance.
State Farm does not offer an online quote tool, so if you want to quote or buy a contract, you need to contact your local dealer. However, it does offer a chat feature and tools to help you identify a nearby dealer on its website.
In terms of reviews from independent parties, State Farm scored above average in the J.D. 2022 U.S. Auto Claims Satisfaction Study. Power. However, this vehicle insurance for commercial vehicles has a much higher NAIC claim rate for commercial auto insurance than the industry average (2.73).
Great West Casualty
Consider Great West Casualty, an Old Republic subsidiary that specializes in commercial truck insurance, if your company caters to that market. Liability, owner-operator, bodily harm and umbrella insurance are just a few of the types of coverage it offers.
More than 65 years have passed since the founding of Great West Casualty. Along with underwriting services, the business also organizes seminars, creates movies, and distributes newsletters to help customers increase safety and comply with regulations.
You can request a quote online, but you will have to wait for a representative to contact you. Great West Casualty’s vehicle insurance for commercial vehicles line received very few NAIC complaints and received an A+ rating with AM Best.