Susan Kelly
Jun 25, 2022
The commercial insurance of autos is vital for any company that owns and manages vehicles, from an individual plumber operating a single van to corporations with massive fleets. Since the insurance for commercial vehicles is readily available through a myriad of insurance companies, it can be confusing and challenging to decide what kind of policy is appropriate for your business.
With a wide range of coverage options throughout the country, it's not difficult to figure out why Progressive got on our top list. The company offers commercial auto insurance for almost every type of vehicle or business. It offers a variety of discounts available and the ability to modify your insurance coverage at any time, without cost.
Established in 1937, it is the top auto insurance company for commercial vehicles within the United States, with an overall market share of nearly 11%. Progressive offers commercial insurance across all 50 states, with policies covering all kinds of vehicles, including automobiles, light trucks, vans, SUVs and dump trucks, food trucks, and tractor-trailers, to name a few. They also provide unlimited travel coverage across most states, with no increase in premiums.
Progressive also provides specialized insurance that not all carriers offer, like hire auto, not-owned, and any-auto. This means that everyone is protected regardless of whether your company owns the vehicle or your employees have their vehicles for conducting business.
Progressive lets you adjust your coverage anytime, which could benefit seasonal businesses that may not require full security all year. Progressive also makes it simple to receive discounts for safety-conscious driving and autopay, business experience bundle policies, and the ability to pay in full.
Nationwide is our second choice in commercial car insurance. Their basic business auto policy provides everything you need and comes with a range of additional extensions you can select from. Nationwide stands out in terms of customer happiness and strength of financial ratings, earning an average of A+'s across all areas. To top it off, Nationwide offers steep discounts to customers enrolled in their live-time monitoring program for data. Their combination of many options of coverage, top scores of satisfaction from their customers, and strong financial stability makes it simple to suggest Nationwide as a commercial insurance provider for autos.
It is the insurance employed by companies that earn revenues by transporting passengers. For instance, livery insurance covers Uber and Lyft drivers, limousine services, and traditional taxi cabs. Geico is a good option to cover commercial automobile insurance with a high score through our study of every aspect. However, Geico's distinct coverage options for livery drivers and riders make them stand out in this category.
The Hartford has a risk engineering department committed to reducing the likelihood of accidents for fleet owners, as well as a customizable policy that makes the company perfect for large-scale businesses. For instance, fleet managers can use telematics to spot dangerous driving behaviors and offer instructions on driving to their employees.
The Hartford prefers to offer policies that cover multi-line accounts. However, they'll take into consideration one-line commercial insurance for autos. The average price across eight industries of policies offered by The Hartford is about $1,500 per year. You'll need to talk with an agent to obtain an estimate and begin applying.
The Hartford has been in existence since 1810 and holds the A+ financial strength ratings from AM Best. In the last 3 years, Hartford has also recorded only one-third of the complaints considered typical for a company of this size. Together, these indicators suggest a good track record of customer support and claims settlement.
The insurtech start-up Next Insurance is designed to offer commercial auto insurance and other protections to small and independent contractors. Costs are low, and you can make monthly payments without cost. For instance, commercial insurance on vehicles for handypersons starts at $25 per month. You can also include non-owned and hired car insurance coverage in your business auto policy.
Next makes it simple to request an estimate and apply for coverage online or contact an agent to get one-on-one assistance. Customer service reviews are highly positive across all platforms, and only a handful of complaints have been reported to NAIC. NAIC in recent times. Policies are supported by Munich R.E., which has an A+ rating for financial strength by AM Best. J.D. Power does not rate next Insurance.
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