Choosing one of the best commercial auto insurance companies ensures enough financial coverage against claims and damage to your and other assets. However, when using a vehicle for commercial activities. It is either owned by the policy or personally, securing commercial auto insurance is the best choice.
Furthermore, getting the best auto insurance is essential for commercial activities with vehicle ownership or when a worker is sent on errands in their car. It assists by covering the company against liability and losses associated with an accident, theft, or other unforeseen event. Moreover, personal auto insurance may safeguard a particular commercial activity involving real estate and rideshare drivers. Also, its coverage might not provide comprehensive protection every time you or your employees are on the road.
Best Commercial Auto Insurance Companies
Typically, insurers offer customized policies catering to various industries and professional requirements. This article explores the best commercial auto insurance companies, explaining their offerings and advantages for various business types.
Progressive is recognized as one of the best companies. It provides commercial auto coverage for an extended range of companies, small enterprises, and independent drivers. Additionally, it provides a broad variety of vehicles, which involves rideshare operators (self-employed drivers) and small business proprietors.
Furthermore, Progressive provides specific coverage for businesses working half of the year. While it offers coverage across the state except Washington, D.C. The quote initiation process can be done online, and coverage can be purchased by contacting the company directly.
Nationwide stands out as the second-best choice for affordable commercial auto insurance, which also offers worthy features and a deductible that is low to $0. Typically, this company has a history of offering insurance coverage across 49 states dating back to 1926.
Furthermore, it can be accessible to commercial vehicles, including cargo vans, work vans, box trucks, pickup trucks, and utility trucks, including semi-trucks and tractor-trailers. However, quotes can be obtained online or over the phone, but the actual policy purchase requires collaboration with an agent.
Meanwhile, Nationwide can buy coverage from $300,000 to $1 million in combined single-limit liability, with deductible options ranging from zero to $1,000.
Acuity offers minimal complaint levels covering commercial auto, liability, and property insurance. There are also various categories of coverage for a wide range of commercial activities, including construction, manufacturing, trucking, and retail.
However, it provides multiple additional coverage alternatives that can be inputted into a commercial auto policy. Typically, this additional coverage includes bail bond payments, temporary substitute vehicles, and fire department charges.
Sentry is one of the major insurers of commercial insurance. It offers commercial auto insurance to an organization that owns a large fleet of vehicles.
In addition, Sentry is one of the best insurers that offers policies to cover the requirements of each company. This depends on the industry, the vehicle used by the worker, and their usage.
However, it does not offer quoting tools. Unlike other providers, but includes consulting Sentry directly and partnering with an agent to review commercial requirements before obtaining a quote.
Securing Farmers for your commercial auto insurance requirements is the right choice. This insurer offers a wide range of industries, extending coverage even to employees using their vehicles for work purposes.
However, this coverage includes liability, underinsured/uninsured motorist, comprehensive, and other coverage and protects some specific industries. For instance, it pays off stolen tools from a contractor’s vehicle and provides insurance for food spoilage or food-borne illness.
Furthermore, since farmers do not offer quotes, you’ll need to partner with a local agent. Meanwhile, discounts are restricted, but they include bundling, vehicle safety technology, and corporate discounts.
Hartford has an extensive range of insurance and financial services that provide commercial auto insurance for businesses of all sizes. Even though your vehicle is involved in an accident, this insurance coverage would cover the business income loss.
Additionally, Hartford’s coverage includes gap coverage for leased and loaned vehicles and electronic appliances. Lastly, it covers an extra 10% above the vehicle price if you decide to replace it with a hybrid, electric, or natural gas vehicle.
State Farm is the best choice for quality customer service for commercial auto insurance. Notably, State Farm provides rideshare coverage within personal auto insurance policies, presenting an alternative for drivers to avoid premiums associated with commercial policies.
Meanwhile, State Farm does not provide online quotes, but you can partner with agents to assist you in obtaining a quote and securing coverage. Lastly, claims can be processed online with your phone or through an award-winning mobile app.
GEICO is one of the best choices among commercial auto insurance companies for budget-friendly coverage, which provides a minimal standard premium and a comprehensive policy. Also, it offers a variety of 16 discounts as a reward for a good driving record, defensive driving courses, and multiple vehicle coverage.
In addition, it has yearly premium coverage worth $1,353 and allows customers to conveniently bundle and achieve savings on their overall coverage expenses.
Next, insurance presents a recent option for businesses. It was established in 2015 and revolves around enhancing the insurance journey for small business customers with shopping processes and cheap policies.
However, Next has successfully secured the trust of over 300,000 small business customers through its diverse range of products. It has experience with online shopping and user-friendly policy management.
Also, it’s essential to note that the types and quantities of vehicles or drivers covered may not align seamlessly with the needs of larger enterprises.
Auto-Owners Insurance offers minimal complaint levels for business auto insurance. The company offers discounts for paying the entire premium upfront, bundling multiple policies, and utilizing a telematics program to monitor a fleet of vehicles.
Commercial auto insurance assists self-employed individuals and small business owners to obtain coverage when owning or operating a vehicle or fleet of vehicles. However, when it’s utilized for commercial activities, it isn’t covered by personal auto coverage.
Personal coverage fails to provide financial security in case of accidents, vehicle damage, or liability for damage to someone’s personal property.