Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
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As of 2024, there are currently more than 3.5 million truck drivers in the US working for more than 711,000 trucking businesses. However, there are also more than 500,000 truck-related crashes annually. The high risk of accidents and other trucking-related mishaps makes trucking insurance a must-have for operators and businesses alike. Similar to traditional auto insurance, commercial truck drivers require a blend of liability, comprehensive, and collision coverages, but their needs are also different from those of regular vehicle operators. Also, insurance for trucking companies as a whole is necessary to protect against their unique liability exposures, etc.
That's why we've taken it upon ourselves to compile a list of the Best Trucking Insurance Companies of 2024. Our top picks for the best insurance companies for truckers consider all the coverages truckers need most, as well as financial strength and other factors customers look for in a carrier. Trusted Choice's list of top picks for trucking insurance considers each carrier's pros and cons. Check out our list.
The 6 Best Insurance Companies for Truckers in 2024
Who has the best commercial truck insurance? We're here to help answer that question. We ranked our top 6 best truck insurance companies in 2024 based on several criteria. The best commercial truck insurance depends on a carrier's customer satisfaction, policy options, and much more. Find our rankings for the best insurance companies for trucking across several specific categories below.
Best Commercial Truck Insurance Overall: Progressive Trucking Insurance
Pros and Cons:
Pros:
Cons:
Policies are customizable
Some mixed customer feedback
Official website provides pricing info
A longstanding carrier with excellent ratings
Excellent financial strength
Our choice for the best commercial truck insurance company overall goes to Progressive Trucking Insurance. The carrier dates back to 1937 and has excellent, "A+" ratings by both AM Best and the Better Business Bureau (BBB). Progressive's extensive coverage catalog includes commercial truck insurance and the carrier offers several discount options. Further earning its place as one of the best truck insurance companies, Progressive customers can choose from trucking insurance in the for-hire transport category or the for-hire specialty category. The carrier also provides customers with additional resources like helpful information on the trucking industry. All these perks combined easily grant Progressive the top spot on our list of the best insurance companies for trucking in 2024.
Best Commercial Truck Insurance for Small Companies: OOIDA Trucking Insurance
Pros and Cons:
Pros:
Cons:
Policies are underwritten fast, in-house
Some mixed customer feedback
Affordable coverage
Website needs an update
Advocates for its customers
No online quotes
High level of customer satisfaction
Our choice for the best commercial truck insurance for small companies is OOIDA Trucking Insurance, thanks to its efforts to work on its customers' behalf. OOIDA makes obtaining coverage fast and easy, since its policies are all underwritten in-house. OOIDA is a fantastic choice for small businesses that need commercial truck insurance because of its full range of coverage options. The carrier is also rated "A+" or "excellent" by the BBB and has a good track record of customer satisfaction.
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Best Commercial Truck Insurance for Large Fleets: The Hartford Trucking Insurance
Pros and Cons:
Pros:
Cons:
Coverage available nationwide
Fewer options for customers with a single commercial vehicle
Offers special risk engineering services for fleets
Can't get coverage quotes online
Offers multiple discounts
Offers fleet-specific programs and devices
Offers complimentary coverage options
Our choice for the best trucking insurance for large fleets is The Hartford Trucking Insurance. The Hartford dates all the way back to 1810 and has received excellent ratings through AM Best and the BBB. The carrier offers workers' comp, umbrella insurance, commercial property insurance, and general liability insurance for truckers and trucking businesses. The carrier even offers a special FleetAhead program to help customers manage risks both on and off the road. Several discounts and coverage waivers are also available.
Best Commercial Truck Insurance for Value: CoverWallet Trucking Insurance
Pros and Cons:
Pros:
Cons:
Aggregator that allows customers to match to coverage in minutes
Not an individual insurance company to buy coverage from directly
Bad credit score or bad driving record policies are available
Fast online quote comparisons
Compares many different coverage options for truckers
Our choice for the best commercial truck insurance for value goes to CoverWallet Trucking Insurance. Even though CoverWallet is an aggregator service, overall it provides the best value for commercial truck insurance customers thanks to its fast online quote comparisons and coverage match tools. CoverWallet helps customers find truck insurance coverage with several commercial vehicle discount options and even policies they can qualify for regardless of having a bad credit score or bad driving record.
Best Commercial Truck Insurance for Customer Service: Lancer Trucking Insurance
Pros and Cons:
Pros:
Cons:
Offers coverage enhancements not available in other policies
Licensed nationwide, but not all coverages are available in every state
24/7 call center
Mobile presence could use an upgrade
Handles claims in house
Excellent ("A-") rating through AM Best for financial strength
Offers free towing after a covered incident
Our choice for the best commercial truck insurance for customer service goes to Lancer Trucking Insurance. Lancer Insurance puts its customers' needs first by offering 24/7/365 claims reporting and a 24/7 call center. The carrier connects truckers and trucking companies with the right coverage through its team of independent agents and brokers (whom they call their "insurance producers") to offer comprehensive customer service and coverage maintenance. We also love that Lancer Insurance has a low volume of customer complaints, well below the national average. Lancer Insurance offers the trucking insurance needed by many long-haul truckers and trucking companies, thanks to their garage keepers liability insurance blended with other coverages, such as for physical damage, cargo, bodily injury, etc. The carrier's commercial auto and garage program will even pay for a tow for a damaged truck after a covered incident. Now that's quality customer service.
Best Commercial Truck Insurance for High Risk: Evolution Insurance Brokers Trucking Insurance
Pros and Cons:
Pros:
Cons:
Offers specialized high-risk commercial trucking insurance for businesses
Above-average pricing on coverage compared to competitors
Longterm understanding of the trucking industry
Smaller carrier
Offers a mobile app for claims reporting and more
Offers short and long-haul truck insurance
Our choice for the best trucking insurance company for high risk goes to Evolution Insurance Brokers Trucking Insurance, which dates back to 1986. Though Evolution Insurance Brokers is a lesser-known carrier, it's a cover-holder at Lloyd's of London. The carrier offers high-risk policies for customers with poor driving records, hazardous cargo, short histories in business, and those with prior criminal or other legal records. The carrier knows the ins and outs of the trucking industry and is therefore able to provide the high-risk coverage needed by many commercial trucking businesses, easily earning our top spot in this category.
How We Select the Best Commercial Trucking Insurance Companies
Trusted Choice evaluated commercial trucking insurance companies based on several criteria and applied calculated methodology to come up with our list of top carriers across several categories. More than 10 commercial trucking insurance carriers were evaluated in terms of pros and cons, including overall website, coverage options, discounts and benefits, coverage rates, online quote availability, financial strength, and history in the insurance industry. An assessment of combined carrier reputation and commercial truck insurance options and prices was conducted to craft our list of top picks for providers in every category above.
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