If you run a business that requires the use of vehicles, either company-owned or personal, then you need to shop around for a good commercial vehicle insurance provider. If your employees drive your vehicles for any purpose, then you need insurance to protect the company from liabilities arising on account of accident or theft.
The difference between commercial vehicle insurance and personal vehicle insurance is that it provides more comprehensive coverage.
To help you, here are a few companies that provide the best coverage plans.
Progressive
Progressive is one of the best commercial vehicle insurance providers for commercial vehicles, including trucks. The insurer provides insurance for all vehicle types with handsome discounts, especially for seasonal changes in policy. Progressive, with a market share of 12%, is the largest commercial vehicle insurance provider in the country. It provides coverage for cars, light trucks, SUVs, vans, food trucks, and tractors. They also provide online quotes and unlimited travel radius in most of the states (they operate in 50 states) with no increase in premium. You also don’t attract any penalty for changing your coverage at any time.
They provide 24/7 customer service on the phone and online. You can talk to their customer support regarding policy applications, updates, claims, and assistance.
Nationwide
Nationwide ticks a lot of factors that one needs while shopping for commercial vehicle insurance. They offer a fantastic range of coverage options and have consistently rated very highly on customer satisfaction. They have excellent financial strength, making it an obvious choice for many. Nationwide policies are highly affordable, ensuring a saving and an investment in one go.
In addition, they provide valuable benefits, and their deductibles are between USD 0 and USD 1,000. Moreover, they offer hefty discounts to those who enroll themselves in the company’s real-time data monitoring program. There are also discounts for policy bundling, paying premiums in full, anti-theft device installation, or driving/owning hybrid vehicles.
Nationwide offers very interesting optional add-ons like roadside assistance, new car replacement, rental reimbursement, and gap coverage for leases and loans.
Farmers
Farmers is a good pick if you need just a single commercial vehicle insurance plan. They provide coverage in all 50 states, have specialized policies, cover a range of industries, and have a functional mobile app. Their coverage can also be extended to cover your employees’ vehicles (when driven for business purposes). Their commercial auto coverage includes comprehensive coverage for underinsured/uninsured motorists as well.
Farmers cover a wide range of industries. For example, in the food truck business, they cover stolen tools, food spoilage, and food-borne illnesses. Their best insurance policies have been tailored for contractors in the construction business because of their long-drawn expertise in the industry.
Farmers don’t provide online quotes, so you will need to work face-to-face with a local agent to purchase a policy. Discounts are limited to policy bundling and safe driving.
State Farm
State Farm knocks it out of the park with respect to customer satisfaction ratings. What’s more, it is present in all 50 states of the country. It offers coverage for employers’ non-owned car liability (ENOL) that can be extended to include coverage for employees’ vehicles when driven for business and rideshare coverage options for personal car insurance.
Online quotes are not available with State Farm, so you will have to obtain your policy through a local agent offline. However, you may submit claims on the phone or even via their mobile app.
