Commercial Truck Insurance Coverage Options Near You

When you drive a truck for a living, you need commercial truck insurance. This is true whether you work as an independent contractor or for a business deploying a fleet of company vehicles. Commercial automobile insurance covers you and your vehicle in the event an accident takes place when driving on company or business-related time.

Your truck needs coverage protection against more than accidents, however. Commercial vehicle insurance also protects against vandalization, theft, damage caused by natural disasters and more. Read all you need to know about the best commercial truck (and vehicle) insurance coverage options available for you today.

Commercial Auto Insurance 101 (a brief overview)

Commercial auto insurance coverage is necessary for businesses which own a fleet of company vehicles. This is true whether the fleet is large or small. Vehicles in the fleet might be passenger vans, sedans, cargo vehicles or trucks. Commercial vehicle insurance essentially serves the same primary purpose as insurance for non-commercial vehicles. Company automobiles are covered against accidents, which happen when the vehicles are driven on company time and for company purposes.

Coverage is necessary for more than just accidents, however. In fact, five different primary categories of business auto insurance are available, each with its own specialized type of coverage protection. Liability, medical, collision, comprehensive and uninsured motorist policies cover a combination of damage and situations, such as:

• Vandalization.

• Theft.

• Damage caused by natural disasters.

• Legal costs when you/your company are sued by another driver or company.

• Medical expenses for your employee drivers and others involved in an accident.

• Damage or injuries sustained to your company drivers when an uninsured motorist causes an accident involving your company vehicle(s).

While certain types of commercial automobile insurances are optional, others are required by law. When you drive a truck for a living, especially as an independent contractor, you are often responsible for providing your own commercial insurance. Continue reading to learn more about how commercial vehicle insurance applies to you as a professional truck driver.

Specifics About Commercial Truck Insurance

Commercial truck insurance is required whether you are a new or experienced owner-operator. Most professional truck drivers are essentially running their own businesses in affiliation with a larger company. Rules and regulations of commercial vehicle insurance as applied to private-contractor truck drivers vary significantly from those applicable to business owners and non-commercial drivers.

Primarily, possessing commercial truck liability insurance is mandated by the Federal Motor Carrier Safety Administration (FMCSA) and your applicable state Department of Transportation (DOT). Without it, you will not be permitted to operate your commercial vehicle on any public U.S. roadways. Providing proof of liability coverage includes submitting your Operating Authority/MC Number on your application. You will also need to keep your proof of coverage in an accessible location in case you are involved in an accident or enter an active on-road inspection terminal.

Benefits

Professional truck drivers transport significant amounts of goods and merchandise over long distances every day. Some drivers only operate within the borders of one specific state, although many transport items across multiple state lines. This profession subjects drivers and their transported merchandise to a unique collection of dangers and risks. Damages and losses pursuant to accidents are often significantly higher and more challenging to overcome financially than those pursuant to non-commercial vehicle accidents. Transported merchandise is also commonly owned by multiple organizations, all of which have legal teams.

One of the primary benefits provided by owning commercial truck insurance is protection against various types of litigation. Protecting you against high, unexpected out-of-pocket expenses is another. Additional unique benefits provided by commercial truck insurance policies include:

• Protection from false advertising, libel, and slander litigation.

• Delivery location coverage (covers damage done at third-party locations).

• Coverage for bodily injury.

• Medical expense coverage.

• Non-truck vehicle policies provide coverage for buses, vans, limousines, cement trucks and more.

• Protection against loss of merchandise and goods (due to theft, accidents, natural disasters, broken refrigeration components and more).

• Allows drivers to obtain jobs in their preferred career field.

Top Providers of Commercial Truck Insurance Today

The best auto insurance companies on the market today offer the lowest rates, deepest discounts, and flexible coverage options. Progressive, State Farm, CoverWallet, The Hartford and Sentry are five of the top providers of commercial truck insurance policies today. Read below for details on what each of these top provider offers.

Progressive

Progressive might be the best-known brand name in auto insurance today. The company operates in fifty U.S. states and offers over thirty different types of coverage options. Progressive was one of the first auto insurance companies to provide rate-comparisons and online quotes from competitor companies. This feature helps drivers find the best rates available, regardless of the provider. Some of the policy choices Progressive offers include trailer interchange, motor truck cargo, motor truck general liability, rental reimbursement with downtime and non-trucking liability.

These policies are available for standard pickup trucks and tractors. Policies for box, tow and dump trucks are also offered. Specialty policies for front loaded and catering or ice cream trucks are available. Pricing and details for vehicle fleet policies are available via direct quote only. Progressive is also known for its discounted rates. Some of the best commercial truck rate discounts available through Progressive include:

• Package Discount.

• Paid in Full Discount.

• Prior Insurance Savings.

• Bundle discounts when bundling commercial truck and personal vehicle coverage.

State Farm

State Farm insurance is available in every U.S. state plus Washington D.C. The company sells comprehensive commercial truck insurance policies, which include coverage for commercial automobiles, goods and merchandise and drivers/employees. This company is best-known for its long history of reliability in the industry. State Farm also offers the best variety of coverage options for professional truck drivers today. One drawback to purchasing insurance through State Farm is the lack of availability of an online quote tool. Prospective customers are required to speak directly to State Farm agents to obtain information and set up policies.

State Farm commercial truck policies are available for bucket trucks, dump trucks, pickup trucks and more. This applies to both individual vehicles and fleets. Transportation and motor truck cargo coverage is also offered via State Farm inland marine policies. Policies cover damages and losses caused by uninsured/underinsured motorists. State Farm commercial truck insurance policies also include collision, comprehensive, personal injury, property damage liability and bodily injury coverage. Bulk/fleet coverage policies and prices are available via direct quote only.

State Farm understands the importance its customers place on saving money. Therefore, multiple discounts are available to qualified policyholders. State Farm rate discounts include:

• Reduced rates for anti-theft or safety feature-equipped trucks.
• Multiple Auto (discounts for customers with 2+ State Farm-insured vehicles)
• Accident-Free discounts for safe drivers.

CoverWallet, The Hartford and Sentry

CoverWallet, The Hartford and Sentry are three more high-quality commercial truck insurance providers. Each company features its own set of rates, discounts, and coverage options. Essential information on each of these providers includes the following:

• CoverWallet (available in all U.S. states; fleet coverage available via direct quote, user-friendly website and personalized quotes; best for private contractor, self-employed, small business and startup fleet drivers; trailer interchange, hired/non-owned auto and non-trucking liability policies available; add-on coverages also offered; free online quotes are available; multiple discount packages offered to qualified customers).

• The Hartford (available in all U.S. states; fleet coverage available via direct quote - although the proprietary FleetAhead Program creates real-time safety data and discounts for fleet managers; online quotes not available; policies available for livestock and property transit, trailer interchange, hook towing and motor truck cargo vehicles and more).

• Sentry (available in all U.S. states; large fleet pricing and policies available via direct quote; online quotes not available; policies specialized for personal use and owner-operator liability; coverage for physical damage, comprehensive, motor truck cargo and collision also offered; discounts available for bundling, anti-theft/safety devices and paid-in-full premiums).