Best Trucking Insurance Companies

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What do ice cream truck, dump truck, and owner-operator long haul truck drivers have in common? Besides driving really cool vehicles, they’re also required to have commercial trucking insurance to protect themselves and others on the road. 

Minimum insurance requirements vary depending on the type of truck you drive. So whether you’re delivering icy cold treats to kids at the local park or moving heavy cargo to a client seven states away, it’s important to find a company that offers the customizable coverage you need at an affordable cost for your business. 

If you’re shopping around for trucking insurance, here are some companies worth considering. Check out what they have to offer.

OOIDA

THREE by Berkshire Hathaway

Sentry

State Farm

Progressive

National Independent Truckers Insurance Company (NITIC)

Evolution Insurance Brokers (EIB Direct)

OOIDA knows the ins and outs of the trucking industry. This association has supported independent truck drivers since it was established in 1973. It offers customizable truck insurance for its members, including primary liability, general liability, unladen liability, passenger accident, and physical damage coverage. 

In addition to truck insurance, the OOIDA also offers health and life insurance coverage for truckers and fleets. To become a member, you’ll need to pay a $45 membership fee, but it could be worth it to get coverage from an association advocating for truckers for nearly 50 years. 

Three by Berkshire Hathaway bills itself as simple, jargon-free insurance, and that’s exactly what it offers. Unlike many insurers that offer a wide array of specialized coverages you need to request, Three gives policyholders broad coverage that suits the needs of many small business owners. 

For truckers specifically, Three offers liability, collision, hired and non-owned, comprehensive, and cargo coverage. It also had small business advisors available to answer questions. Additionally, Berkshire Hathaway has an A++ (Superior) AM Best rating, signaling its financial soundness. Three is worth considering if you’re a small business owner seeking comprehensive coverage for an owner-operator truck or a small fleet. 

Sentry offers several coverage options for truckers through its extensive network of local agents. Whether you’re an owner-operator seeking insurance or you want coverage for a small fleet, Sentry’s array of products can help keep you safe on the road. It offers commercial liability, general liability, non-trucking liability, physical damage, and cargo coverage. And if you need to file a claim, you can do so online or over the phone 24/7. 

Sentry has an A+ (Superior) AM Best rating, indicating it’s on firm financial footing. Those seeking flexible coverage options and personalized service from an established insurer may want to put Sentry on their shortlist for trucking insurance. 

While State Farm offers insurance for small trucking businesses, it doesn’t insure large trucks or long-haul carriers. Still, if you need to insure a commercial pickup truck or van, this insurer may have the coverage you need at a relatively affordable price. It offers liability, medical payments, collision, comprehensive, and uninsured motorist coverage. You can also file claims online instead of spending a ton of time on the phone with an agent after an accident.

With an AM Best rating of A++ (Superior) and high marks on J.D. Power’s most recent U.S. Auto Insurance Study, State Farm’s policyholders benefit from its financial stability and excellent customer service. Businesses looking to insure a small truck or van may want to consider this insurer. 

Whether you’re looking to insure a dump truck, ice cream truck, flatbed, or street sweeper, Progressive has got you covered. Its customizable policies allow you to pick and choose the coverage you need based on the truck you’re insuring. And if you’re not 100 percent sure which coverage options make sense, you can speak to one of Progressive’s commercial truck insurance experts. 

Progressive also offers several discounts, including options to get lower premiums by paying in full for the year and providing access to your electronic logging device (ELD) data. While its varied coverage options and discounts may be attractive, Progressive received lower-than-average customer satisfaction ratings on the 2021 JD Power Auto Insurance Study. However, it has an AM Best score of A+, indicating the company is financially sound.

Wondering how much a coverage plan might cost for a 52-year-old male with 20 years of CDL experience and a clean driving record? NITIC has you covered with its helpful sample price quotes. Plus, it lets you get a quote for coverage online — you won’t need to wait on the phone with an agent. In addition to price transparency and quick quotes, NITIC offers commercial truck coverage exclusively, so it’s familiar with the unique insurance needs of truckers.

Despite its positives, NITIC has a lower AM Best rating than many competitors. The agency gave it a B++ (Good) rating, which is far from poor but still something to consider as you’re shopping for coverage.

EIB Direct offers commercial trucking insurance issued by its holding company, Prime Holdings Insurance Services, Inc. Drivers seeking customizable policies for both smaller trucks and larger fleets can find coverage through this insurer. It offers liability, physical damage, cargo, hired and non-hired auto coverage, and more. Plus, you can file claims easily via the EIB Direct mobile app. 

Unlike some competitors, EIB Direct is not among J.D. Power’s top-rated insurers for customer satisfaction. However, AM Best recently upped its rating from an A- to an A, and EIB has a lot to offer, no matter the size of your fleet.

While trucking insurance coverage will vary depending on the type of truck you drive and your coverage needs, a recent Progressive study offered some helpful insights into how much premiums might cost. The average monthly cost of premiums is around $640 for truckers in a specialty niche, like street sweeping or garbage hauling. Truckers moving heavy-duty freight can expect to pay a higher premium, averaging around $982 per month. 

These estimates were based on drivers with a clean record seeking minimum coverage only. Your rates will vary depending on several factors discussed below. 

Trucking insurance isn’t cheap, but it’s necessary. Fortunately, you can do a few things to save on coverage, and certain providers might offer special discounts you can take advantage of. 

Similar to your personal auto policy, several factors will impact the cost of your commercial trucking insurance, and you’ll likely get different quotes as you compare policies. Here are some things insurers typically look at to determine coverage costs. 

When it comes to commercial truck insurance, your years of experience will impact your insurance costs. Those with more years on the road will likely pay lower premiums than those with fewer years of driving experience.

In general, insurance companies consider males to be higher-risk drivers than females. Insurance Institute of Highway Safety data shows that men are more than twice as likely to be involved in a serious accident than women, so you may pay more for coverage if you’re a man.

Your insurer may look at your business credit score when you apply for coverage. Higher scores will likely result in lower premiums, as a high credit score indicates that you typically meet your financial obligations.

Your location and driving routes can also factor into the cost of your premiums. For instance, drivers located in a major metropolitan area may pay higher premiums. Those who often travel through major cities may also pay a higher cost for coverage.

The type of truck you drive will impact the cost of your insurance. While it probably goes without saying, those who drive larger, older-model 18-wheelers will have more expensive coverage than drivers looking to insure a commercial pickup. 

While you must have certain coverages such as liability, other insurance coverages are optional. The type and amount of coverage you need for your truck will affect your premium costs. 

You’ve got questions. The Drive has answers.

To choose the best companies and products for this list, the team at The Drive looked at a large number of financial products from various providers. We focused on cost, product features and options, ease of use, customer service, and past customer ratings as the most important factors in our ratings.