A type of auto insurance known as commercial auto protects cars used for commercial purposes. You may need commercial auto insurance if you regularly use your personal car to work or if your company owns a commercial vehicle. People in all industries—from construction to pizza delivery—use commercial auto insurance to protect themselves, their vehicles, and their businesses because personal auto insurance does not cover cars. used for business purposes.
This article will introduce you to the best commercial vehicle insurance. Let’s discover them now.
Contents
The Best Commercial Vehicle Insurance With Top 7 Companies
Farmers
The most popular commercial vehicle insurance is Farmer. Farmers are the best commercial vehicle insurance for independent contractors because of the comprehensive coverage options and coverage specific to them. If you do not have a specific business vehicle, personal use of a car for business purposes is covered.
Non-owned, uninsured/underinsured autos, liability, and comprehensive coverage are among Farmer’s standard commercial auto insurance options.
Additionally, Farmer offers insurance options you won’t find elsewhere, such as food truck protection. 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 rating for Best is slightly lower than that of its competitors, and the Farmer discount isn’t as much. However, for some organizations, its specific coverage of single vehicles makes it worth taking into account.
Auto-Owners
Auto-Owners is our top pick for people who don’t want to overpay for commercial auto insurance. Possible discounts through Auto-Owners include multiple policies, full payment, fleet monitoring, group coverage, and seasonal vehicle use. The company also has an excellent financial strength rating and very few customer complaints.
All popular policy options, including comprehensive and collision payments, liability and medical, are available from Auto Owners. In addition, this best commercial vehicle insurance provides roadside assistance and coverage 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. Unfortunately, the organization does not provide quotes online, so if you want to buy a policy, you need to talk to a local agent.
The Hartford
FleetAhead, a telecommunications service from The Hartford, is a tool for new drivers as well as a vehicle to assist small business owners who qualify for savings. Based on their behavior while driving, the program establishes a baseline for drivers and can recommend training techniques to help them perform better. In addition, drivers receive feedback while they are driving, which helps proactively reduce risk.
One of the most famous and prestigious brands in the insurance industry is The Hartford. This 200+ year old business specializes in providing commercial auto insurance to fleets of vehicles owned by businesses. This best commercial vehicle insurance 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-owner’s insurance are among The Hartford’s available coverage options. In addition, the business offers various services and special discounts. For example, this best commercial vehicle insurance covers electronics and space for rented and borrowed cars. Plus, if you replace your entire car with hybrid, electric, or natural gas models, you can get 10% more of their cost.
Hartford is rated A+ by A.M. Best, but according to the most recent J.D. Car Complaint Satisfaction Study. Power, it ranks below the industry average. To receive a quote or purchase a policy, you must also phone an agent.
Geico
Our top pick for livery insurance, or insurance for vehicles used by companies that make money transporting people, is Geico. Drivers for Uber or Lyft, limo services, and traditional taxi cab firms are a few examples. Overall, Geico is a good option for commercial auto insurance coverage, scoring highly in our review across all important variables. Yet Geico stands out in that field thanks to its distinctive coverage options for livery and ridesharing drivers.
Nationwide
With The best commercial vehicle insurance Nationwide, everything you request is covered by their basic auto-trading policy, plus some optional extensions. With a near-A+ overall score in both financial stability and customer satisfaction, the company stands out. Finally, Nationwide offers substantial discounts to customers who subscribe to their real-time data monitoring service.
Our Nationwide recommendation for commercial auto insurance is straightforward due to its wide range of coverage options, outstanding customer satisfaction scores, and solid financial position. For more information, see our comprehensive nationwide review of commercial auto insurance.
Next Insurance
For small businesses that need best commercial vehicle insurance, Next Insurance is the best option. Next, a newcomer to the commercial insurance market, founded in 2015 with the aim of making it easier for small businesses to buy. Next Insurance is the preferred choice for commercial auto insurance due to the company’s user-friendly website and low-cost and customized auto insurance. See below for a full breakdown of commercial auto insurance next.
Progressive
One of our top picks for best commercial vehicle insurance and one of our top picks for truck-specific policies is Progressive Insurance (for more information on these policies) , see our Progressive Commercial Truck Insurance review). Where they offer some discounts along with their coverage and can offer customized coverage, Progressive is adaptable and friendly.
They have both an A+ rating for customer satisfaction from BBB and an A+ rating for financial strength from A.M. The best. Progress gets a high score for each variable we take into account. Read our comprehensive review of progressive commercial auto insurance for more details.
Conclusion
As each company is unique, deciding which is the best commercial vehicle insurance will depend on how well it serves your business.
However, several commercial insurance providers consistently receive the highest ratings from trade associations including J.D. Power, AM Best and NAIC. All in all, our top recommendations for the best commercial vehicle insurance providers perform well in some or all of those rankings, demonstrating excellent performance in every respect.