Top Commercial Truck Insurance Companies in the US 2024
If you’re confused about what kind of commercial trucking insurance policy you need or how to choose the best commercial truck insurance for your trucking business, here I’m with top commercial truck insurance companies with an easy comparison between the best insurance companies in the US.
Commercial truck insurance is one type of insurance policy that provides coverage for a commercial trucking business that specially operates commercial vehicles in shipping and transportation and is specially designed for trucking businesses and independent truck drivers.
It is a financial defense system for trucking business owners and drivers in case their commercial trucks are involved in accidents, theft, or other incidents.
Commercial Truck Insurance Companies provide coverage for different aspects, including:
Liability Insurance
Liability insurance covers expenses for third-party property related to bodily injury and property damage resulting from an accident involving an insured commercial truck. It’s typically a legal requirement, depending on state or country regulations.
Cargo Coverage
This part of the insurance deals with expenses for goods or merchandise in the insured commercial truck. It becomes relevant if any of these goods are damaged, misplaced, or stolen while in transit.
Uninsured or Underinsured Motorist Coverage
This insurance protects the insured truck driver and their business from damages caused by another motorist who is uninsured or has insufficient insurance to meet accident costs.
Physical Damage Coverage
Specifically, this insurance addresses the costs associated with the repair or replacement of the insured commercial truck in case of damage due to various accidents such as fire, theft, or vandalism. This usually includes comprehensive and collision protection.
Bobtail Insurance
This coverage protects truck drivers when they are not actively working on a shipment, such as when they are not hauling goods to make a delivery, including personal use of the truck or at a terminal after completing a delivery. Examples include returning.
Chubb– Commercial Truck Insurance
The Chubb Corporation, a global insurance company founded in 1882 and currently operating in 54 countries and territories, is known for its wide range of insurance services.
With an incredible presence globally and especially in the United States, Chubb is committed to providing custom-made (for all businesses) commercial trucking insurance solutions for all sizes of businesses.
Chubb offers special commercial truck insurance policies to meet the needs of commercial trucking businesses.
Their main goal is to improve their multiline insurance approach for affordable commercial insurance businesses.
Progressive– Commercial Truck Insurance
Progressive, one of the largest and well-known insurance companies in United States, was founded in 1937 and currently operates in all 50 major states, including Washington, provides reliable and affordable commercial insurance solutions for all businesses owners, including trucking business
Progressive offers a wide range of insurance products, including auto, property, motorcycle, boat, and home. It is especially known for commercial truck insurance policies because they are designed to meet the needs of businesses of all sizes and can easily customized to according their specific needs, such as bobtail truck insurance, Haul Program,
State Farm– Commercial Truck Insurance
State Farm is one of the most popular and largest insurance companies in the US. Founded in 1922 and offering insurance services to more than 80 million people across the country, State Farm is especially known for its auto insurance services and also provides drone insurance .
For commercial truck insurance policies, State Farm offers reliable truck insurance policies that cater to trucking business needs, including coverage for liability, physical damage, cargo, and other insurance needs.
The Hartford– Commercial Truck Insurance
Hartford is the oldest and most reputable insurance company offering insurance policies, especially for its property insurance policies. Hartford has been providing insurance policies in the United States for almost 200 years.
They offer specialized commercial truck insurance policies designed to give extra protection for trucking businesses and independent truck drivers to protect truck and potential risks, including liability, Cargo, towing expenses, physical damage, and various coverages
CoverWallet– Commercial Truck Insurance
CoverWallet is an online commercial insurance platform, especially known for offering affordable insurance coverage for medium-sized businesses or startups.
If you’re searching for affordable commercial truck insurance policies, CoverWallet may save you time looking and contacting multiple truck insurance companies.
CoverWallet offers reliable and affordable commercial truck insurance policies through partnerships with various insurance companies
The company provides various tools to manage insurance, so you can easily manage your insurance policies without struggling.
Pros and Cons of Commercial Truck Insurance
Pros
- Driver and Business Protection
- Custom Coverage
- Secure Your Assets
- Variety of Coverage Options
- Legal Compliance
Cons
- Higher Premium
- Complexity of Policies
- Insurance Fees
FAQ: On Commercial Truck Insurance Companies
Why is commercial truck insurance important for trucking businesses?
Commercial truck insurance acts as a financial defense system, providing coverage for commercial trucking businesses and independent truck drivers in case of accidents, theft, or other incidents involving their trucks.
What does liability insurance cover in commercial truck insurance policies?
Liability insurance covers expenses related to bodily injury and property damage for third parties resulting from an accident involving an insured commercial truck. It’s usually a legal requirement, varying based on state or country regulations.
What is cargo coverage, and when does it come into play?
Cargo coverage deals with expenses related to goods or merchandise in the insured commercial truck. It becomes relevant if these goods are damaged, misplaced, or stolen while in transit.
What is bobtail insurance, and when does it come into play?
Bobtail insurance protects truck drivers when they are not actively working on a shipment, such as when not hauling goods for a delivery. It includes coverage for personal use of the truck or at a terminal after completing a delivery.
