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There are many different factors to consider and compare when shopping for the best business commercial car insurance. This coverage is essential for businesses that own vehicles or send employees in their vehicles to protect the company from liability and damage after an accidental theft or other incident.
Personal car insurance can cover you for some business purposes (such as a real estate agent or rideshare driver) but that coverage is limited and may not give you full coverage every time you get behind the wheel. In addition you must have commercial car insurance if you allow someone else to drive your companys vehicle or if you own more than one vehicle.
1. Progressive
Progressive Insurance Group of Companies claims to be the third largest auto insurance provider and motorcycle/specialty RV insurance provider in the United States. Progressive creates more than 13 million auto policies each year. Known as a driver of innovation in the private vehicle market the group also writes on commercial vehicle insurance and other private and commercial insurance risks. We sell insurance directly to consumers or through 30.000 independent insurance agents across the country.
Progressives commercial car insurance comes with 24/7 service (phone or online) with coverage that can be adjusted anytime Flexible billing and payment options Commercial billing payment instruments Unlimited travel coverage available in most states.
2. Nationwide
Nationwide business car insurance companies is the best value choice with features like new car replacement usage protection and commercial gap cover. Nationwide offers the best value for business auto insurance with affordable policies premium features and deductibles as low as $0. The company currently serves 48 states and the District of Columbia and has been providing insurance since 1926.
Nationally commercial vehicle insurance is available on a wide range of commercial vehicles including cars vans work vans box vans pick-up trucks and utility vehicles. But semi-trucks and tractor-trailers are not covered. Quotes are available online or over the phone but youll need to work with an agent to purchase a policy.
Nationally it allows businesses to purchase coverage between $300.000 and $1 million with a joint liability limit with a $0 to $1000 deduction. Cargo and non-owner guarantees are also available. Through our online quote portal we found that business owners can purchase $300.000 in liability coverage and $500.000 in uninsured driver coverage for a vehicle (Chevrolet Silverado 2018) for $2102 per year with a $500 deduction.
Other features include replacement of the new car roadside assistance lease repayments and even coverage of the loan and lease gap. If you want to further protect your drivers and passengers you can add medical payment coverage and personal injury protection (PIP). Discounts available through NationWide include special pricing for bundling multiple policies to fully pay the premium for installing an anti-theft device or owning a hybrid vehicle. Applications can be submitted online or by telephone.
3. Farmers
If youre looking for a highly customized commercial policy (especially when you have one or two vehicles) Kisan is our recommendation as this carrier offers special coverage options for non-fleet business customers throughout the US. Covering a wide variety of industries.
If youre looking for commercial auto insurance for single company vehicles Farmers is worth checking out. This carrier provides insurance to many industries including employee vehicles (while driving for business purposes). They offer commercial vehicle protection in the form of underinsured/underinsured driver liability and comprehensive policies.
Farmers also insure professional trades and losses. For example they can cover equipment stolen from a contractors vehicle and protect against food spoilage or foodborne illness when insuring a food truck. This type of protection is often provided by many other carriers separate BOP policies.
We established Farmers as the premier commercial insurance company for our contractors. Contractors allow farmers to protect their vehicles and haulage equipment. And the flexible policies of commercial insurance authorities are usually more than just for contractors and subcontractors. Farmers is a large well-established and diversified company as well as an excellent financial rating earning A2 and A ratings from A.M. Best Moodys and S&P.
Online trading is not provided by the farmer and you must partner with a local agent to recommend prices and purchases. Discounts are somewhat limited but package discounts include safe driving habits and you can request over the phone or online. In addition the approved Farmer mobile app allows policyholders to access their insurance from anywhere.
4.The Hartford
With a special commercial insurance program for fleet owners including safety equipment and exclusive fleet discounts Hartford is our top choice for businesses with five or more company vehicles. Our top choice for commercial fleet vehicle insurance has been The Hartford Company since 1810. This carrier not only provides businesses with solid coverage for a fleet of vehicles (five or more) but also provides employees with resources to prevent accidents and mitigate risk.
Hartford offers many free coverages such as coverage for rental or loan vehicles loss of time coverage windshield repair deductibles and electronics coverage. They also make it easy to add extra savings to your commercial fleet plan by offering discounts on multiple vehicles with full payment or driver insurance.
Coverage options include uninsured/underinsured motorist collision general liability medical expenses and non-owner expenses. They use wireless devices in their vehicles to monitor safety and have a FleetAhead program for commercial fleets that qualify for additional savings. There are no online prices so you will have to call for information and prices in your specific area.
Business car insurance companies coverage through The Hartford includes other vehicle protections when employees and owners carry out their work in rented or leased personal vehicles. In the event of an event claiming two different coverages (resulting in two deductions) Hartford will waive one of the charges. Inquiries can be made 24/7 online or over the phone.
5. Liberty Mutual
Liberty Mutual calls itself the worlds fifth largest property and casualty insurance company with approximately 50000 employees in over 30 countries. The insurance group offers individual insurance products under the Liberty Mutual and Safeco brands. At the same time it partners with independent brokers and benefits consultants across the United States to provide its commercial insurance solutions. Its commercial auto insurance policy comes with risk restrictions.
