Currently, there are around 3.6 million truck drivers in the United States. The number of trucking businesses in the country currently stands at 700,000. Keeping these astounding numbers in mind, picking the best truck insurance companies can be a tricky endeavor.
Like how any coverage works, truck insurance provides those in the transportation industry with the proper protection. There’s a large number of commercial truck insurers in the US and each has their own unique policies.
Let’s discuss the largest truck insurance companies, as well as the ones highly rated by customers.
Largest Truck Insurance Companies by Market Share
The following is a list of the top 10 truck insurance companies by market share. Progressive holds a substantial lead over the competition by insuring close to 42 percent of the market. As you can see, every other truck insurance carrier falls below the 6 percent mark.
|Berkshire Hathaway Total||5.8%|
|State National Total||3.0%|
|Great West Total||2.9%|
|Trisura Specialty Insurance Company Total||2.2%|
|Integon Indemnity Corporation Total||1.9%|
Three Best Commercial Truck Insurance Companies
Progressive dominates the truck insurance sector with almost a 42% market share. Since they’re such a powerhouse, they can offer a plethora of discounts to their transportation policyholders. Also, they provide coverage to the majority of truck types. Therefore, Progressive is often a go-to choice for owner-operators and businesses in the logistics industry.
Their services are also vast and available in all 50 states. Not to mention, Progressive also offers state and federal filings that are at no cost to you. They also have a team of commercial truck insurance experts that are there at your disposal whenever you need assistance.
So, simply for the range of services Progressive has at its disposal, it manages to take the top spot.
For transportation businesses looking for a solid commercial truck insurance carrier, The Hartford is a great option. Like Progressive, they don’t fall short when it comes to various discounts and programs. Similarly, they’re available in all 50 states.
It’s important to note, The Hartford has very limited options when it comes to insuring individual drivers. So, if you run your own fleet and are looking for quality coverage then the Hartford may be your best bet.
One of the best things about this carrier is that they’ve been in the insurance game for a very long time. Therefore, they understand the risks your fleet faces out there on the road. To help you mitigate the risks they even have services in place for managing your fleet.
The Hartford is big on safety and that’s why they’re considered very admirable in the truck insurance industry.
This insurance carrier is renowned for their excellent customer satisfaction ratings. In fact, complaints regarding their services are very rare and that’s remained constant over the past several years.
Although State Farm is commonly known for their superb auto and home policies, they’re also very big in the transportation industry. State Farm covers both individuals and fleets and they also provide their services in all 50 states. So, no matter if you drive a semi-truck (insurance on semi truck), dump truck, reefer, or so on, they’ve got you covered.
This insurance carrier has made a name for themselves by optimizing their customer service experience and diversifying their coverages. They’re a great option if you want a hassle-free insurance experience.