If you are starting a commercial truck business either with a single truck or using a fleet of trucks, the first thing you need to consider is get your trucks covered with the best possible insurance policy that covers all aspects of your business. Your business may involve delivering goods inside the state or conduct cross-country freight trips and no two business is the same and hence you need to understand that one policy is not the same for different companies. The amount of risk and the type of coverage needed is different for every truck business.

But selecting a commercial insurance company that can fulfill all your business requirement can be a very tough task. You need to browse various companies’ policies and compare the plans and pricing before coming to a final decision. You need to consider various factors before finalizing on an insurance company as it is not only the pricing of the plans, other factors including, customer satisfaction, financial strength and the various coverage options offered by the insurance company. Hence, we’ve come up with a review of some of the best commercial truck insurance companies in the country that provides some of the most comprehensive coverage solutions for your trucking business.

Rating of Truck Insurance Companies

Company Affordability Rating Customer Service Rating Get A Quote
Progressive
5.0
out of 599 user reviews
3.9
out of 599 user reviews
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Geico
4.0
out of 599 user reviews
4.0
out of 599 user reviews
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Ooida
3.6
out of 599 user reviews
3.0
out of 599 user reviews
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Nationwide
5.0
out of 599 user reviews
3.9
out of 599 user reviews
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Progressive

Progressive truck insurance quote
Progressive insurance was founded in the year 1937 and has become one of the largest auto insurance companies in the world offering complete solutions for your truck business.
3.9
out of 599 user reviews

Insurance Coverage

It has almost all kinds of auto policies not only for trucks but for every other type of vehicle out there. It has almost 10 million policy holders, but ironically there is not storefront or office for progressive where you can just drop in and buy an auto insurance. All kinds of insurance deals are made available online and through independent insurance agents / dealers.

Progressive covers each and every type of insurance coverage options for all kinds of vehicles including front loading vehicles, street sweepers and bucket trucks. The policies from progressive are always low-cost and affordable one that will help you to keep all costs down and yet buy a policy that can cover all kinds of casualties for you and your vehicle.

One more interesting feature with starting an auto policy with Progressive is that if you happen to have a general liability policy either with Progressive or any other company, then you are eligible for 15% discount on any auto policy with Progressive Insurance. And if your business is 3 years old, you are eligible for 5% discount on your policy premium. And to add more to these discounts, progressive offers more by providing you with an additional 15% savings, if you pay your entire premium in advance.

Progressive has been serving hundreds of business houses for the past fifty years or so and is also ranked as the 2nd largest Progressive commercial truck insurance based on market share. Progressive doesn’t provide general liability and business owner’s policy and if you are in need of an all-in-one solution, then you should probably go to other insurance companies.

Coverage Options

Progressive trucking insurance provides all kinds of insurance options for Owner operators, motor carriers and private carriers. It offers basic auto insurance coverage options including Bodily Injury Liability, Medical Payments, Uninsured Motorist plans, Comprehensive Physical Damage, Collision, and Property Damage Liability.

Along with other basic coverage options, Progressive also offers some special options like:

Roadside Assistance: To provide assistance to your truck or car, if it breaks down in the middle of a trip to a flat tire or dead batter or any kind of electrical or mechanical problems.

Car Rental: In case if your car met with an accident and being in the garage for comprehensive or collision claim, then progressive provides payment for upto 30 days for renting another vehicle

Accessories: If any of your accessories gets damaged including your car stereo, TV equipment, progressive pays to get it repaired or replaced.

Affordability

When it comes to affordability, where credit ranking agencies rank an insurance companies based on the pricing of policies offered when compared to other insurance companies.  Based on rankings and reviews and also after comparing progressive insurance plans with many other plans from other companies, we can easily provide 5 out of 5 stars for Progressive as it offers some of the low-cost and cheap insurance policies that is not being offered by any company in the world.

Customer Satisfaction

Customer Satisfaction Rating: 
4.0
out of 599 user reviews

Progressive Insurance is considered to be one of the most popular insurance companies and by popular it means it has been accepted by many companies for its affordable premium plans, all kinds of discounts being offered and the ease with which an account can be setup with Progressive and also how fast claims are being settled etc.

Based on these factors, Progressive Insurance ranks 4 out of 5 stars in terms of customer satisfaction.

One can also find many useful resources in the Progressive website to know more about commercial auto insurance policies and other business insurance policies. There are lot of articles and materials that help you understand more about complex insurance issues along with a detailed insurance glossary. You can also find insurance buying guides for auto and for various other industries including health, personal insurance etc.

Survey Review Data

Financial Stability

Financial Stability Rating: 
4.0
out of 599 user reviews

Progressive insurance has around 14 million dollars in auto insurance policies in effect and is considered to be one of the most innovative auto insurance companies. It is also one of the first auto insurance companies to launch the monthly premium plans to its customers. Since it has been declared as a public-traded company in 1971, it has more than 8 billion dollars in net premiums written. According to reviews from many credit rating companies and also based on the recent review posted by A.M. Best, Progressive Insurance has been provided “A+” in financial stability. Other credit rating agencies like S&P and Fitch have provided “AA” category in terms of financial strength for Progressive Auto Insurance.

Contact Info

Website: 
https://www.progressive.com
General Phone Number: 
1-855-758-0945
Customer Service Phone: 
(800) 776-4737

Corporate Headquarters

The Progressive Corporation
6300 Wilson Mills Rd.
Mayfield Village, Ohio 44143

Investor Relations

The Progressive Corporation Investor Relations
6300 Wilson Mills Road
Box W33 Mayfield Village, Ohio 44143

Geico

Cheap truck insurance quotes
GEICO provide comprehensive commercial truck insurance policies that caters to all kinds of passenger cars, business vehicles, trucks and tractor trailers. One can find all kinds of standard truck insurance policies along with add on liability endorsements with GEICO.
4.0
out of 599 user reviews

Insurance Coverage

It is also one of the commercial truck insurance companies that provides policies with special coverage options for truckers operating in certain jurisdictions.

GEICO has also one of the best customer support personnel in providing the best support and guidance to its customers in terms of clarifying all kinds of doubts and queries regarding insurance coverage options. Customers also have access to various online tools to manage their policies round the clock. You can access your policy, manage your account and pay your bills from anywhere across the country through its easy to use online tools.

GEICO doesn’t offer any kind of general business liability policies or property insurance policies like <strong>geico commercial truck insurance</strong>. But is has partnered with Hiscox insurance company to provide truck owners and operators to get their hands on some of the best all-round coverage policies that will cover every aspect of their truck business.

Coverage Options

GEICO truck insurance offers some of the best and affordable truck insurance coverage options that will cater to all kinds of your business requirements. Some of the coverage options provided by GEICO are listed below for your reference:

Bodily injury liability coverage: This insurance coverage policy covers against body injury or death caused by accidents where the insured is at fault and also covers for the legal defense costs in most cases.

Property damage liability coverage: Provides coverage for the damages caused to your vehicle caused by accidents caused by the collision with another person’s property and also provides legal defense in most cases.

Combined single limit (CSL): Provides a combined single limits policy that covers either a single person or a group of person and comes with the similar amount of coverage rather than multiple liability policies with separate limits to cover bodily injury claims for property damage.

Medical payments, no-fault or personal injury coverage: usually, pays for the medical expenses of the driver and passengers in your vehicle incurred as a result of a covered accident regardless of fault.

Uninsured motorist coverage – pays for your injuries and, in some circumstances, certain property damage caused by an uninsured or a hit-and-run driver. In some cases, underinsured motorist coverage is also included. This is for cases in which the at-fault driver has insufficient insurance.

Comprehensive physical damage coverage – Covers your vehicles from theft and other natural disasters like flood, fire and other perils covered in the policy.

Collision coverage – Covers your trucks against any kinds of damages that caused by accidents by getting hit against another object.

Affordability

Affordability is a measure of which any insurance company is ranked based on the pricing of the insurance policies when compared to other cheapest commercial truck insurance. With 4 out of 5 stars, GEICO is being ranked among some of the top insurance companies that provide affordable insurance that is favored by many small and medium truckers.

Customer Satisfaction

Customer Satisfaction Rating: 
4.0
out of 599 user reviews

Customer Satisfaction is normally ranked based on various criteria, but overall it is a rating that ranks how customers are satisfied with the overall experience with GEICO. Some of the criteria that involve in ranking the Customer Satisfaction factor includes:

  • Ease of Account Setup With GEICO
  • Affordable Premium Plans
  • Discounts offered
  • Customer Support
  • Claims Process

And based on these factors, GEICO ranks 4 out of 5 stars.

GEICO has one of the best information centers that is loaded with lots of information that everyone needs to know about the various insurance coverage options. The information center has a detailed glossary of all terms related to insurance and is filled with a lot of FAQ’s about all kinds of basic questions that arise in every truck owner and much more. Customers also can find all kinds of discounts available with GEICO and with the calculator option, every customer can calculate what kind of coverage they need to fulfill all kinds of their business requirements. GEICO always strives hard to keep its information resource center updated with the latest information on car buying and financing along with details on vehicle safety and crash test ratings.

Survey Review Data

Financial Stability

Financial Stability Rating: 
4.8
out of 599 user reviews

Financial stability is a measure that is calculated based on the ability of an insurance company to settle claims from its customers and based on the reviews provided by various official credit rating agencies.

And GEICO commercial truck insurance quotes ranks about 4.8 out of 5 stars on its financial stability and hence ranked among the top insurance companies to have a very good financial stability.

Contact Info

Website: 
https://www.geico.com
General Phone Number: 
(800) 207-7847
Customer Service Phone: 
(800) 241-8098

Payments 
Please mail all payments to:
GEICO Remittance Center
One GEICO Plaza
Bethesda, MD 20810-0001

Please use this address for late payments and cancellation notice payments:
GEICO Remittance Center
One GEICO Plaza
Bethesda, MD 20811-0001 

Correspondence
Please send all correspondence regarding your policy to:
Government Employees Insurance Company
ATTN: Region 1 Return Policy Work
PO BOX 9500 
Fredericksburg, VA 22403-9500 

Ooida

Commercial truck insurance rates
Owner-Operator Independent Drivers Association is one of the premier commercial truck insurance companies that provides affordable trunk insurance policies to small and medium business truck owners.
3.0
out of 599 user reviews

Insurance Coverage

Having been in the industry since the 1970’s OOIDA is also one the oldest and most experienced commercial truck insurance specialists in the US and has also been a leader in providing some of the cheap insurance policies for owner-operators.

OOIDA offers insurance coverage for your trucks with minimal up-front payments and easy monthly installment options. With OOIDA you cannot find any hidden charges or additional costs adding up to your insurance coverage. Everything is transparent with OOIDA and if want the best way to save money on your Ooida Truck Insurance, please contact our customer support now at 1800-715-9369.

As a trucker, you may find it hard to get the best deal for your insurance that will cover all bad and mishaps that can happen during a road trip. This is why it is required to have a strong backup that can insure that everything will go wrong and that will always fight for your right. OOIDA membership can provide you with a lot of advantages as it provides many membership platforms that greatly caters to the needs of the truckers. The membership features provide all kinds of solutions a single and independent driver needs for his business and the safety of himself and his truck.

Coverage Options

OOIDA offers truck insurance options broadly for owner-operators with authority and leased owner-operators. Let’s take a look at each of these coverage options.

Owner-Operators with Authority

OOIDA offers the following types of truck insurance for single and independent truck owner-operators:

Primary Liability:  It covers the loss from legal liability of the truck owners for causing any kind of body injury or property damage to another party. It also covers all kinds of legal obligations of the owner operators operating on their own authority or owner operator carrying exempt commodities. To activate your own authority, you need to have this coverage. When FMCSA requires around $75,000, most of the shippers and brokers ask around $1 million limits.

Commercial General Liability is another kind of coverage that can be purchased along with primary liability with huge discounts in premium if purchased in conjunction with the primary coverage and it covers against all liability claims for the insurer for any kind of bodily injury and damages in property in the premises or during operations or on products and all kinds of completed operations. It also covers the liability claims on advertising and personal injuries.

Motor Truck Cargo is a kind of insurance that covers against the loss caused from legal liabilities from goods damage or any kind of merchandise that is under the care of the insured or under custody of the insured during transit. The Motor Cargo insurance also covers for the removal of debris, breakdown of the refrigeration unit and earned freight.

Passenger Accident Coverage provides cover for accidental death and dismemberment along with medical expenses only for guest passengers traveling in the truck. This coverage doesn’t provide cover co-drivers or employees of the insured. There is also no age limits included in the coverage.

Physical Damage provides coverage to any damage caused to your truck by accidents, theft, fire or any kind of vandalism act. It covers glass breakage, chip repair in the glass and any downtime coverage. No additional premium is added to the insured with the physical damage insurance coverage. In case you have a tractor and a trailer under the physical damage insurance coverage, and under circumstances if both are involved in the same accident, then the coverage will apply only for one vehicle and it will be highest deductible one.

Affordability

OOIDA is a wholly-owned subsidiary of the Owner-Operator Services, Inc., and has been run some of the most experienced minds and knows exactly the insurance and other business needs of every other owner-operator. When you come to OOIDA, it is absolutely certain that you can find every kind of information about the best coverage options for your business.

OOIDA is one of the popular commercial truck insurance companies that has commercial truck insurance cost lower than other companies along with the best coverage policies that provides solutions for all kinds of problems an owner-operator can face in his business.

Customer Satisfaction

Customer Satisfaction Rating: 
3.1
out of 599 user reviews

OOIDA has always been on the forefront to provide insurance that is affordable and covers all kinds of damages to the insurer. When you become a member of OOIDA, you are bound to enjoy a lot of benefits and services from OOIDA. They have a range of exclusive membership benefit programs and plans including:

  • Health and Life Benefits
  • Business and Information Services
  • Drug and Alcohol Testing
  • Retirement Plans
  • Identity Management Services
  • Truckers Advantage Fuel Card
  • IFTA Fuel and Mileage Tax Services
  • Member’s Edge Load Board
  • Rebate Programs
  • Discount Programs
  • Sprint
  • Land Line Magazine
  • Land Line Now and
  • Political Action Committee

Survey Review Data

Financial Stability

Financial Stability Rating: 
2.1
out of 599 user reviews

OOIDA has been in the truck insurance space for around 42 years and hence you don’t need to worry about the financial stability of the organization. It has helped thousands of single and independent small and medium truckers with affordable insurance coverage policies.

Contact Info

Website: 
http://www.ooidatruckinsurance.com
General Phone Number: 
816-229-5791
Customer Service Phone: 
1800-715-9369

OOIDA, Inc.

1 NW OOIDA Drive,

Grain Valley, Missouri 64029

Nationwide

Truck Insurance Online
Nationwide Truck Insurance provides all kinds of coverage options for your truck business requirements. It offers comprehensive, affordable and customized insurance coverage options for all kinds of business vehicles including passenger vehicles to delivery trucks.
3.9
out of 599 user reviews

Insurance Coverage

Nationwide is ranked among one of the top companies that offer comprehensive general liability and property insurance policies across the country. The coverage options from nationwide protects every aspect your business.

It is often a tedious task to choose the best insurance company that offers affordable and complete solutions for your business but with Nationwide choosing an insurance policy that serves all your needs is completely easy. All policies are completely customizable and fairly priced.

There are many reasons that you can consider to choose Nationwide as your premier truck insurance provider as listed below:

  • Every policy can be customized according to your needs and can be tailor made to suit each and every business requirement of your company.
  • With a unique operating structure and diverse business operations, Nationwide is also one of the popular commercial truck insurers among most of the truckers across the country.
  • Nationwide is equipped with highly experienced and trained Insurance professionals who will guide you through every coverage options and also will help you to minimize losses and manage risks in your business.
  • Nationwide is also renowned for its excellent claims settlement in the quickest possible time. With Nationwide, in case of emergencies, you’ll be contacted by representative immediately not through phone but by visiting your place directly and quickly investigate matters to make the settlement quickly to get your business at the earliest
  • It also has an excellent customer support service to guide you in selecting the best insurance coverage options through phone, online or through hundreds of agents across the country.
  • You can also pay your premium through various payments options including check, debit/credit card, mail, phone or have it paid directly from your checking account.

Coverage Options

Nationwide insurance offers comprehensive insurance coverage options to suit each and every requirement of your business. A Nationwide agent provides commercial truck insurance policies that can cover:

  • Auto liability
  • Coverage for medical payments
  • Complete coverage for your business
  • Collision coverage
  • Uninsured and underinsured motorists coverage
  • Coverage for autos you borrow or rent
  • Coverage for employees using their cars for the business

Nationwide also provides along with the general liability options also provides a lot of special coverage options that include:

Roadside Assistance: In case of breakdown due to a flat tire, engine breakdown, you can call Nationwide to tow you out of trouble

Rental Reimbursement: In situation where your vehicle is locked in the garage for service due to a collision, Nationwide helps you in providing a payment to rent a vehicle to keep your business running

Accident Forgiveness: This option is available only in some states where Nationwide helps you in avoiding increasing your rate if it was first accident

Affordability

Insurance companies are ranked based on various factors and one of the most important criteria that is considered is the affordability factor, where the pricing of the insurance policies offered by the companies that is compared with the plans from other companies.

Based on rankings and reviews and also after comparing progressive insurance plans with many other plans from other companies, we can easily provide 5 out of 5 stars for Nationwide as it provides affordable and low-cost insurance policies when compared to other commercial truck insurance companies.

Customer Satisfaction

Customer Satisfaction Rating: 
3.9
out of 599 user reviews

Nationwide Insurance is considered to be one of the most popular insurance companies and by popular it means it has been accepted by many companies for its affordable premium plans, all kinds of discounts being offered and the ease with which an account can be setup with Nationwide and also how fast claims are being settled etc.

Based on these factors, Nationwide Insurance ranks 3.9 out of 5 stars in terms of customer satisfaction.

Survey Review Data

Financial Stability

Financial Stability Rating: 
4.2
out of 599 user reviews

Nationwide Insurance has been ranked 3rd in J.D power satisfaction ratings and based on financial stability, customer satisfaction and many other factors. Nationwide has strong financial assets that has made it as one of the Fortune 500 company with over $161 million in statutory assets, making Nationwide as one of the largest commercial truck insurance companies in the world.

According to reviews from many credit rating companies, Nationwide has been provided 4.2 out of 5 stars, which is considered to be better than many commercial truck insurance companies out there. This rating also proves that Nationwide is able to settle claims in the quickest time possible.

Contact Info

Website: 
https://www.nationwide.com
General Phone Number: 
1-877-669-6877
Customer Service Phone: 
1-800-421-3535

Nationwide Headquarters 
One Nationwide Plaza 
Columbus, Ohio 43215-2220

Types of Commercial Truck Insurance

Commercial truck insurance comes in various forms including:

  • Bobtail Insurance: Type of insurance provided to tractors that are operated without a trailer.
  • Limited Depreciation Coverage: This option covers your vehicle when it declared a total loss after a collision or accident, where the coverage will help you in getting a fair market value Mechanical Breakdown Insurance. Covers all your expenses related to mechanical breakdown issues.
  • Motor Truck Cargo Insurance: Covers your freight and the liability for the cargo. It is one of the popular insurance for trucks among other types, as it covers all kinds of losses resulting from fire, collision. It also includes for debris removal, legal defense payments, and freight charges.
  • Motor Carrier Insurance: Provides protection for your business when you are hiring permanently leased independent contractors.
  • Motor Truck General Liability Insurance: Covers all kinds of bodily injury, personal injuries, property damage liability, medical payment, advertising injury liability, product & completed operations, and seven days or less coverage for damage to rented properties.
  • Non-Trucking Liability Insurance: Covers your trucks when you are using for non-business purposes.
  • On-Hook Coverage: Covers for all your repairs and replacements for vehicles that are not owned by your business.
  • Optional Downtime Coverage: When your trucks undergo a downtime period, this coverage takes care of covering for that.
  • Passenger Accident Insurance: Provides coverage for the passengers in your vehicle in case of accidents.
  • Physical Damage Coverage: This type of coverage covers for any physical damage to your vehicle related to any collision, theft, fire or any other perils.
  • Supplemental Towing and Clean Up: Provides coverage for towing of your vehicle or cleaning up of debris after a collision.
  • Trailer Interchange Agreement Insurance. For non-owned trailers that receive any physical damage.
  • These are some of the various budget truck rental insurance coverage options that are available in the market and choose the options that best suits your business.

Commercial truck risks

Running a commercial truck business is like being inside a hot oven, as you are always in the heat. You can face all kinds of problems during your trip due to flat tires, engine breakdowns or running out of gas in the middle of a desert. But these are common problems faced as other major problems include that there is an increasing number of people getting injured in truck-related accidents causing grievance to people and also damage to truck cause a major problem to truck owners.

According to a recent survey, it has been revealed that

  • Every year around 1,30,000 people get injured in truck-related accidents.
  • Around 70% of truck accidents result in property damage.
  • Severe injuries are caused by around 22% of truck-related incidents.
  • A commercial truck can cost anywhere between $55,000 - %60,000.

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Doing business with truck is very much risky as truck often needs to travel from one place to another whether it is a known place or unknown. Hence a truck owner as well as a truck driver needs insurance so that they may get at least some help if they meet any accident.

Bobtail insurance and Non-trucking insurance are similar in many extents and hence people often get confused regarding liability and coverage of these two insurances. Generally the basic liability coverage insurances are very much needed for the truckers.

Motor truck cargo insurance is a cargo insurance coverage. It provides insurance to the cargo carried by trucks or multi wheeled trailer in case these goods are damaged, stolen or lost. These goods are insured throughout the process of transportation until they reach the buyers.

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