Top 6 Commercial Auto Insurance Companies 2021
Progressive Commercial : Overall Best Commercial Auto Insurance Company
Progressive Commercial Costs
In 2012, the Progressive commercial insurance market share was 15% and it was the 2nd largest in the industry. The company offers a wide range of commercial insurance coverages in the most important industries: construction, manufacturing, retail, hospitality, distribution, energy, mining, transportation and other industries.
Progressive Commercial insurance provides comprehensive coverage for your business. You can protect your business from the effects of fire and water damage, liability claims, and employee injuries. You also can protect your business from the effects of weather, car insurance and other risks.
You can also get personal auto insurance through Progressive, which provides your personal vehicle with liability, collision and comprehensive insurance coverage. Like the commercial auto insurance, Progressive offers a wide range of coverages under the personal policy.
The only downside to Progressive is the high premium rates. But it should be noted that the rate will not be as high as American Family, which is the best commercial insurance.
Progressive Commercial Policy Options
Progressive Commercial Insurance has a vast number of Commercial Insurance options. The company also offers various discounts for business owners. Progressive offers business owners discounts that are designed to help support small businesses and help small business owners save money on their auto policy.
This is more for those who want to find a commercial auto insurance company that has a prepared policy to work in the small business environment.
The first discount offered by Progressive is their Anti-Cutback 100% discount for businesses with less than 25 employees. This discount is ideal for small businesses who want to be able to handle the typical day-to-day business, and don’t have a large staff to handle any unexpected events.
Premium for small business auto insurance policies is usually high because of high liability rates. This discount helps almost offset the extra cost.
Aside from the Anti-Cutback 100% discount, Progressive offers three other discounts for small business owners.
First, Progressive offers the Small Business Non-Cutback 100% discount. This discount is ideal for small businesses that handle larger amounts of business. The Small Business Non-Cutback 100% discount offers a proportional amount of discount on commercial auto policies. So anything from 25 employees to 500,000 employees gets the same applicable discount.
The second option offered by Progressive is the Small Business Cutback 50% discount. Unlike the Anti-Cutback 25% discount, this discount is only available for certain businesses.
Progressive Commercial Additional Features
Progressive provides great commercial auto insurance as it covers certain items such as rental vehicles, fuel theft, and theft from unattended vehicles. In a lot of cases, insurance companies are unaware of the actual commercial use of a vehicle or the types of contents within a vehicle, which leads to long delays, lost revenues and funds in your company’s account.
The reason that Progressive is a great choice is due in large part to the fact that they are one of the leading insurance providers in the industry and have proven to have a much better rate of early claim resolution. It is also worth noting that Progressive is a leader in commercial auto insurance because they have made it their niche to provide various insurance services to companies and their workers.
Progressive also makes it simple to insure many different types of workers – in this case there are so many different options as they provide coverage for many different employee classes. These include passenger, car and motorcycle, bus, motorcycle courier, U-Haul, and tractor trailer drivers are just some of the classes they offer. They also provide coverage for independent contractors. After building a client base, Progressive works to maintain good relationships by providing a series of incentives to Independent Contractors, such as personal injury protection.
Progressive Commercial Financial Stability
What Progressive Commercial Is Missing
The Life Insurance 101 website provides valuable information to people who are looking for the best commercial auto insurance company. This article is helpful because it shares details about important factors you should consider when choosing a commercial auto insurance company.
The information provided in the article can help you compare your options and make the most informed decision when it comes to selecting the right commercial auto insurance company. Therefore, The Life Insurance 101–Best Commercial Auto Insurance Company info is extremely helpful to those who are aiming to find the best commercial auto insurance company.
Commercial life insurance is designed to help a business owners/management if something happens to them. These services are recommended for owner during their business at the office but it is also valuable and recommended for the retail operations. There are many benefits that come with commercial life insurance that are unique to this type of insurance.
The first commercial life insurance benefits are, Small employers now have the advantage of preventative coverage. Previously, employers had to out insurance policy on a yearly basis. Small companies are now able to have a policy that will cover them for a certain time frame, usually one year, where if the business owner passes away suddenly without a will, the policy will cover the employees until the end of the term.
The second benefit to having commercial life insurance is how affordable it is, in many cases, it is about half of a comparable policy. These insurance plans also tend to come with lower deductibles which increases the long term benefits.
Progressive Commercial Customer Reviews
Progressive is a household name for a reason. They’ve been one the top players in the business for years now, and their customer service reputation is tops. The best part is that unlike most companies, they’re willing to go the extra mile to keep up their reputation. Progressive is most popular among younger drivers who have recently earned their driver’s license.
The coverage for your business fleet is top notch, and the discounts that they offer for trucks and motorcycles are phenomenal. They also have an industry leading reporting system in case of an accident or collision. Furthermore, their insurance claims process is quick and easy.
One of the things that potential users need to factor in though when making a choice is that Progressive has a rigorous subrogation policy. For some users, that may be a deal killer. If you’re looking for the best coverage and customer service, you may find these attributes a disadvantage.
The Hartford : Best Commercial Auto Insurer for Fleet Owners
As the originator of the commercial auto insurance concept, The Hartford offers a wide range of insurance solutions to large and small businesses. For the purposes of this article, we’re focusing on commercial auto insurance for fleet owners. Therefore, The Hartford is considered one of the best commercial auto insurers for fleet owners. With a focus on commercial auto insurance for fleet owners, The Hartford is notable for delivering tailored commercial auto insurance products at affordable rates. That’s because the company offers very competitive commercial auto insurance rates.
In addition, The Hartford has a specialized team of account managers who work directly with their corporate and personal clients. The customized service offered by these account managers is helpful when it comes to commercial auto insurance for fleet owners.
With over 100 local agents and a bilingual customer service team, The Hartford has the resources required to handle even the smallest commercial auto insurance queries.
The Hartford Costs
Quotes, and Service.
The Hartford Insurance Company is one of the most well-known names in the industry. Based in Hartford, Connecticut, The Hartford provides insurance benefits to more than 30 million residents across the globe. The Hartford was founded in 1838, and today, The Hartford has a wide variety of insurance products to choose from. Their Commercial Auto Insurance coverage can be obtained through the use of a commercial auto insurance policy, which can be purchased via their website.
The Hartford gives drivers the security of knowing that their coverage is backed by a solid portfolio of insurers. They give you the insurance coverage you need at an affordable rate, while providing an easy-to-use website where you can manage all of your policy details. The Hartford also made this industry history by being the first company to offer insurance coverage to non-U.S. citizens all over the world.
The Hartford’s Commercial Auto Coverage Features
The special coverage The Hartford provides is in addition to the standard coverage provided by the state or your carrier. They provide all of the coverage you need, including:
Comprehensive coverage: The Hartford provides comprehensive coverage for driver and vehicle to make sure you never have to pay if your car gets damaged in an accident.
Collision coverage: If you have to file a claim with The Hartford, then you will be covered on your collision expenses.
The Hartford Policy Options
Hartford is a large company, offering auto insurance in 36 states. Hartford has the advantage of operating nationwide in states such as Washington, Oregon, California and Florida. Hartford does have some policies that are not available in all areas of the country, but it is a large company that can offer you coverage in most of the country.
Hartford offers personal and commercial lines as well as life insurance. The Hartford agent network is updated regularly with new agents that can handle your insurance needs. They do not have any unprofessional agents or rogue agents. For commercial lines insurance, Hartford rates are high and the company also does not have much of a track record for claims handling. For personal lines, Hartford has a very good claims rate and in the past few years has had a record of zero denials in the home and auto markets. Due to the rate of denials, Hartford does not offer certain types of coverage.
Hartford is rated the best company for car insurance by Simply Smarter in their guide to best insurance companies.
Find Cheap Auto Insurance Quotes in Your Area:
Individuals can then choose their size of auto insurance policy, as well as any add-on coverage, such as personal injury protection and uninsured/underinsured motorist coverage. If you have your car stolen, drive recklessly, or unknowingly hit a deer, you are covered for damages by these limitations of liability.
The Hartford Additional Features
The Hartford Financial Stability
The Hartford Financial Stability Rating (HSFRA) is a rating by Weiss Ratings. It is designed to identify the risk profiles of financial institutions and is intended to be used as a comprehensive tool by investors, analysts and financial institutions as well.
Hartford Financial is one of the insurance companies that has been producing and selling auto insurance for years now. They are also known for their high profit margins and a stable ratings.
The Hartford Financial Stability Rating (HSFRA) is a single grade and is awarded based on the following criteria:
Global Financial Strength:
Registering a strong balance sheet protects Hartford’s long term debt and credit limit (or health) from bankruptcy.
Hartford has a strong top line, product diversity and earnings stability.
Regulation and Market Competition:
Hartford’s strength and structure allows it to respond quickly to fluctuations in the economy.
Liquidity and Risk Management:
Hartford’s long tradition of strong capitalization and high profitability enable it to quickly react to catastrophe.
Total Credit Quality:
Hartford’s strong line of credit rating from the major agencies. It also has a very high credit limit (or health).
Headquarters: Hartford, Connecticut.
Awards / Benefits:
What The Hartford Is Missing
The Hartford Customer Reviews
Hiscox : Best Commercial Auto Insurer for Non-owned Autos
Hiscox is considered one of the largest and best insurance companies for non-owned automobiles in the U.S. They also offer affordable insurance for your fleet, loss control products, roadside assistance and other consumer products.
The company continuously improves their safety ratings to ensure customers get the best coverage at the best prices. ClimateRight offers a unique technology that automatically adjusts the heating costs based on the temperature and other conditions in the area.
The company’s environmental focus is what sets them apart, and they offer customers unlimited help if they have a pet. Plus, for your peace of mind, their phone is available 24 hours a day, 7 days a week.
Hiscox also provides homeowners immunity under their Plus policy. This is one of the best insurance companies for non-owned vehicles on the market.
Hiscox is one of the most commonly used insurance companies in the United States. Its presence extends from the West Coast to the East Coast, providing insurance to customers in 44 states (and counting). The company was created and initiated by Charles Heisco in 1972. Heiscox offers a variety of insurance services with professional agents in order to help customers keep their vehicle safe and properly insured as well. It also provides automobile insurance to foreign cars parked in the U.S.
Hiscox car insurance services come in a variety of plan options and coverages that include e-hailing insurance for Uber drivers, as well as comprehensive and gap insurance. The company also provides insurance services for motorcycle drivers.
Hiscox offers 24/7 phone-based claims service to make it easy for customers to file insurance claims and also settle claims in-house. The company is a member of the Insurance Services Office Association (ISO) and is also licensed to conduct business in all states in the U.S.
Here are some of the key features to keep in mind when filing an insurance claim.
Paying off the claim can be tedious, time-consuming, and tedious. Keeping records of your expenses can help you settle a claim quicker and more efficiently.
Hiscox provides a variety of plans for customers to choose from, but also allows customers to create a custom plan that will help find the proper coverage.
Hiscox Policy Options
Hiscox offers coverage options for individual customers and commercial customers. While the policy options vary based on customer type, you can expect the following coverage options for individual customers:
- Personal Insurance
- Auto Insurance
- Home Insurance
- Renters Insurance
- Life Insurance
You can expect the following coverage options for commercial customers:
Package Insurance: Full protection
Rental Property Package Insurance: Insurance for the tenants
Long-Term-Casualty Insurance: Coverage for the equipment against liability
Employer’s Liability Insurance: Liability coverage for the employer
Cargo Insurance: Insurance for the commercial vehicle
Public Liability Insurance: Liability coverage for your business
Collision Coverage: Compensation for injuries or damage to other vehicles
Comprehensive Coverage: Coverage for damage to the vehicle
Professional Liability Insurance: Coverage for your employees against accidents
Actual Cash Value: Replacement value of the vehicle at time of the collision, so you don’t have to worry about depreciation
Extended Mechanical Warranty: Protection against covered repairs exceeding the warranty period
3rd Party Liability Insurance : Coverage against lawsuits
Insure Business: Coverage for business assets and operations
Hiscox Additional Features
Hiscox is one of the few A.M. Best insurance carrier; they were established in 1894 and it is one of the best companies in the UK.
There are multiple other reasons why this is the best-selling Insurance in the UK for a selling to the people of all ages.
The additional features include as under:
- Outstanding Customer Service
- Great Customer Rewards Program
- 24 Hour Customer Support
- Home Emergency Cover
- Vehicle Recovery Cover
- Member Of The UK’s FCA Group
- Medical Expenses Support
Hiscox Insurance Company’s also the 4th largest motor insurance company of GB, with coverage of services, it is different from other British Insurance Companies.
Hiscox has been marked as a company that helps the disabled customers in the UK; one of the major organization is recognized as a company that provide a number of the services that help in the development of the disabled people in the UK.
In this company, there are two separate departments for people who are in Travelers and Motorcycle businesses. These two departments are responsible for all the policies regarding the Travelers and Motorcycle businesses.
There are also many more great features of Insurance from the ISTA, the MCOS, the ANPRM, the PSTU, the new Motorcycles insurance, and the Motorcycle Assumed Names.
Hiscox Financial Stability
Review-Do they deserve the amount of trust they have?
Hiscox Financial Stability Review-Driving home from work can get traumatic if you’re concerned about safety on the road. You’ll get home and wonder if you’re making the right decision on continuing to drive a late model car. Little do you know that the car is ready for a better and safer era by being prepared for the future of cars. For a car to truly be able to withstand the challenges of the times, it needs to be prepared to battle all sorts of situations. Therefore, keeping your car in good shape and prepared for the years to come can make a great impact on your well-being.
You can step up your game and step into the future of cars with a car insurance quotes from Hoscox Financial Stability Review that covers all the bases.
So let’s analyze how trustworthy they are by making a comparison with the Strathern Group against the Hertz Group.
What Hiscox Is Missing
By the time you finish reading this post you will be able to answer this nagging question that has been making the rounds. What is the insurance best practice when it comes to regards to the purchaser of the policy (auto insurance) under 30, 30-65, over 65 years of age?
The obvious, but most difficult is the purchasing of a commercial auto insurance policy between the ages of 30-65. Hiscox will deny your claim.
It's unfortunate, just didn't get it yet I'm still young, but I'm married to a Hiscox agent and my wife is still getting a bonus from Hiscox for selling her policy to some poor schmuck who lost a dispute and now she is trying to sell them another policy. The last policy they sold to me they wanted to make sure I didn't make it 2 years. I'm not joking, they said I could not make it two years without going to collections.
That policy was with Progressive.
The writing was on the wall for me with Hiscox, they will not let my own agent cover her 'teammates' as any other agent would. She wouldn't risk me losing my job or expensive court fees.
And now I know why.
Just my personal opinion, but Hiscox just doesn't know what they're missing.
Hiscox Customer Reviews
Hiscox have been in the insurance business since 1877, which makes them the third oldest insurance company in the UK. Initially, their business focused on commercial cover and personal accident policies but since then, you can find them in every area of the market.
Hiscox claim to offer a wide range of policies to suit the needs of everyone from large corporations to small businesses, drivers and the self-employed to more specialist cover. Each and every policy they offer is for sale via one of their 17,000 agents.
In keeping with their long history, they also made insurance history in 2010 when they became the first insurer to accept web-based applications for all policies, which has driven up voluntary acceptance significantly.
Hiscox provides 5 Star insurance cover for young drivers and offer a range of optional cover options for them. The optional cover options including; family cover, under 25 cover, young driver cover, bonus cover, second driver cover and personal accident insurance.
Young drivers who applied for the cover via a web-based application saw their cost of insurance almost halved, making it the most affordable form of cover available.
They also received a commended rating by Which, the independent consumer magazine, which is one of the reasons why they are one of the best auto insurance companies for young drivers in 2021.
Farmers Insurance : Best Commercial Auto Insurer for Food Trucks
Farmers Insurance has a great special promotion for food trucks. When you insure your trucks with Farmers, you will receive a FREE quote and if you buy the insurance, they will give you 50% OFF for the first year. This means you can save as much as half of the premium for the first year and if you find out you don—t need it, you can just cancel it.
Farmers Insurance Costs
Farmers Insurance was founded in 1931, and today, it operates in 29 states and the District of Columbia. It is a family-owned organization that extends its expertise to a wide range of insurance-related services, including car insurance, home insurance, renters insurance, and so much more.
Farmers Insurance has earned its place among the best auto insurance companies in the US over the past few years. In fact, it ranked fifth for homeowners insurance and third for car insurance in a recent auto insurance comparison. It has also managed to hold its place among the top auto insurance companies in the country by offering a wide range of competitive auto insurance rates. The company’s reputed claims service is also one of its strengths.
One of the things that sets Farmers apart from the competition is the company’s commitment to customer service. Like many of its counterparts, Farmers is constantly improving its service, and it has come up with some great programs to reward customers and meet their needs.
One of these benefits is the Farmers Bonus. You’ll get a 25% discount on your auto insurance rates if you have a Farmers Home Services Policy.
Farmers Insurance Policy Options
Farmers Insurance is one of the top insurance companies, and it offers insurance customers a lot of options when it comes to choosing coverage for their home, car and family. We made a list of Farmers Insurance policy options, and in this post, we’ll talk about the most popular Farmers Insurance policy options available to customers.
The information in this post is for general informational purposes only. People with Farmers Insurance can use the information in this post to help them determine whether Farmers Insurance is the right insurance company for them. This information should not be used as a substitute for the advice of a licensed insurance professional.
The most popular Farmers Insurance policy option for homeowners is their homeowners insurance. Farmers Insurance offers a homeowner’s insurance policy that protects against losses caused by floods, earthquakes and other hazards. This includes expanding coverage for homeowners who live in coastal areas and otherwise might not have coverage for flood, earthquake or other hazards.
Farmers Insurance offers motorists a variety of automotive insurance options, including optional coverage for liability, medical payments, and loss of use. Farmers Insurance strongly advises that automobile insurance customers review their insurance policy for pre-existing coverage limitations, and Citizens Insurance in California offers its policyholders the option of purchasing supplemental coverage to ensure they have all of the coverage liability insurance policies are intended to provide.
Farmers Insurance Additional Features
Farmers Insurance strives to offer you the highest quality insurance coverage at the lowest possible rate. Moreover, they have a debt relief program to assist you in settling your loan during a claim. To make sure you have the best coverage at the lowest rates, do your research before choosing your company. By reading this post, you are already well on your way.
Farmers offers personal policies to help you protect your home, car, car and motorcycle, farmers and other buildings, livestock, possessions and much more. With them, you can have policies on your auto, people, business and home. You can choose among a variety of coverage options depending on your personal preference and requirement.
With a personal policy, you have the option to choose: Auto Renewal,Bundle Your Policy and other options. Especially, auto renewal is a smart choice for people that are looking for the best value for their policy. Simply, auto renewal helps you save the average premium rate paid monthly by a policy holder over the course of a year. Hence, in the future, you wouldn…t have to spend a dime if your policy is renewed.
Another feature, Customization, comes in useful when you have a lot of various policies that have to be combined. By using customization, you can add or remove a driver from your policy, pay extra for coverage and remove coverages or increase coverage with your policies.
Farmers Insurance Financial Stability
Farmers Insurance Company of America received an overall financial stability rating from A.M. Best Company of A++.
What Farmers Insurance Is Missing
Farmers does not look at a customer’s individual needs when deciding what their auto insurance policy covers. Sure they will, after an accident, look at your policy searching for things that you didn’t buy. But they are trying to fit a product designed for an entire class of customer. In a flawless world, you may get the size of your policy right, but none of the terms and conditions for what they don’t cover.
Insurance is about taking the risk of covering the possible and the unknown.
So for you to choose the best car insurance, the insurance company has to make the right choices to cover the correct things for you. They must look at your motivations when buying a vehicle, and your priorities, and find the perfect policy for you that covers everything you need, but not the things you don’t need.
If Farmers Insurance (or any other insurance company) take their approach of doing things the same as every other insurance company, they will always be missing out.
The companies that understand the mindset of their customers, those that do everything right for each customer, and those who put the customer first will win, because they’ll know their customers.
Farmers Insurance Customer Reviews
Farmers Insurance is a general insurance provider that has been servicing insurance needs in the U.S. since 1922. It has currently serves over 22.3 million members.
The UIUC Faculty Underwriters have dubbed Farmers Insurance as the best one in the nation based on their performance in terms of customer satisfaction. The company had an overall A++ grade in terms of customer satisfaction. It earned an A++ grade for their UIUC campus; however, it received a B+ for their West Suburban campus.
The company received an A+ grade for their claims experience. They have earned a perfect score, which is 98 out of 100 in the J.D. Power 2015 State Auto Insurance Study. However, they have only earned a 3 out of 5 in the 2015 Birmingham BBB Auto Insurance Study.
The company has received positive reviews by consumers and professionals alike for it’s unmatched customer care. It has received a Customer Service Award from the Ministry of Agriculture in the year 2014. The Huffington Post has even called Farmers as the ‘coolest car insurance company out there’.
GEICO : Best Commercial Auto Insurer for Ride-share Drivers
GEICO is frequently ranked as one of the best car insurance companies for a variety of reasons. One of the special features that sets GEICO apart from other insurers is its ride-share insurance program.
Discounts for Providers of Ride-Share Vehicle Insurance
As a provider of ride-share insurance, GEICO offers discounts to those who agree to insure their shared-ride vehicles through its own service.
For example, eligible owners can receive discount rates of up to 10% (5% off base rate and 5% off discounts) if they insure their vehicles through GEICO.
A bonus for providers? GEICO will also give you a 10% discount as long as you purchase liability insurance, comprehensive insurance, and additional parts and service coverage.
In addition, providers can also choose to insure their vehicles as part of a combined policy with the GEICO RV Program. Providers simply need to provide the RV ID number when they apply online for a policy, and GEICO will provide a complete insurance program for discount prices.
How GEICO Works with Ride-Share Vehicle Drivers
GEICO partnered with Ride-share Insurance Partners (RSP) to develop and market Ride-share Insurance products across the United States. RSP is a lead program partner of American Rideshare Insurance, the only insurer nationwide that provides discounts to providers of shared-ride vehicle insurance.
GEICO Policy Options
The GEICO family policy covers all members of your family. This policy provides coverage for medical bills, general liability, property damage and injuries sustained by family members. The GEICO policy combines the lowest overall rates with customizable coverage options that provide parents with the options to save even more money on future rates.
Parents wishing to save money while ensuring coverage for their family, can take advantage of the GEICO variable rates to lock-in costs today while still providing coverage for the entire family.
Policies for Businesses
Teaching your children to be responsible and respect others is the most important job of any parent. However, parents who operate a small business are constantly on the go. So it’s important to find a policy that provides coverage for your business, while also being affordable. The GEICO policy has flexible options to meet your needs. Increase the limits of your policy, upgrade to an additional business vehicle or if you own your own business, GEICO covers you with a home business policy.
The GEICO business policy covers general property damage, auto liability, workers’ compensation, and more for your business. For businesses with multiple employees, GEICO also offers benefits for the entire team. Offices everywhere have computers, printers, projectors, phones and other office essentials. These essentials typically are not covered in most business insurance. In fact, many business insurance policies do not cover any of these devices.
GEICO Additional Features
Good Student Discount and Expedited Claims: Students are able to receive a discount on GEICO policy and also an expedited claims process. GEICO has a great student discount policy for students who are studying and learning toward a science, engineering, math or other related career or degree.
Student Financial Services: For those students who are currently in school, GEICO offers a student financial services department for them. The department offers a variety of programs for students such as free textbooks, monthly tuition discounts, money-saving bank accounts and personalized loans.
Anchoring: The GEICO spokesman, which is an animated turtle named Ernie, is known for coming in for an entrance and trying to take over the episode. But for the most part, these shows are more entertaining than anything else.
Insurance Agency: GEICO also has an auto insurance agency in the different cities. And this is where customers can go in to request for rates and applications.
More Reasons to Buy GEICO over the Competition
Allstate claims that it has an insurance rating of No. 1 over the last five years. However, how does that statistic come about? The claims department deemed over two-thirds of claims either fully or mostly satisfied. That is a pretty big percentage for no claims filed. GEICO, on the other hand, has been making a name for itself as a more affordable auto insurance company that has a much lower car insurance quote rate.
GEICO Financial Stability
What GEICO Is Missing
GEICO Customer Reviews
You can call GEICO the “good” choice for your car insurance needs, and there’s a simple reason why … they offer affordable, reliable coverage at competitive prices.
What’s more, this is one of the best commercial auto insurance companies for a couple of very important reasons.
One, GEICO offers flexible coverage options. Their most popular coverage is a policy that offers liability, collision, and comprehensive coverage with roadside assistance. So, even if you rack up quite a few miles on daily basis and run into an accident, this coverage will come to your rescue.
Second, GEICO has a strong network, so you won’t have to run around trying to track down your policy, or even pay outrageous rates for alternative coverage. Their network covers the entire United States, and it includes state and local governments and agencies.
Also, if you are looking for cheap car insurance options, GEICO comes highly recommended. However, it’s important to note that their rates could be high if you have a history of accidents and claims, and might turn out to be high as well if you are found to have high-risk driving habits.
Nationwide: Best Commercial Auto Insurer for Contractors
The most affordable auto insurance company Nationwide is currently ranked 21st out of the 19 Insurers. Nationwide's rates are greatly reduced due to this company's sizable business. The overall score for this company is B.
Nationwide Policy Options
Nationwide has been around since 1922 and a pioneer in the car insurance industry. As such, it sets the benchmarks for many of the top car insurance companies. In particular, it provides its policyholders with competing car insurance options that rivals some of the best car insurance companies. The same top options, competitive yet affordable, apply to the business and commercial car insurance lines as well.
First, it’s worth pointing out that when it comes to insurance, negotiation is at a minimum. In most cases, you pay what you pay and that’s it. Some insurance companies, including Nationwide, allow you to make modest changes in the amount once you’ve applied. But you need to be a policyholder in good standing to access this option and it can’t be used to get a significantly better deal.
As for what you can expect in a policy, instead of including every possible option, Nationwide car insurance policies include just a few high value ones. You have the choice between liability insurance, collision damage liability insurance (CDL), comprehensive, and 24-hour Roadside Assistance. In total, these four options account for 85% or more of a policy’s total coverage.
Nationwide Additional Features
Nationwide Commercial Car Insurance is designed specifically for auto and trucking insurance, but it pairs with any home or personal insurance policy. It combines the affordable rates of personal policies with the benefits of commercial insurance.
The biggest advantage of Nationwide Commercial Car Insurance is its excellent customer service. The call center is one of the fastest in the business and is rated A+ by the Better Business Bureau. The company has spent years developing positive relationships with brokers, which has earned it the most rep accounts and broker partnerships.
Nationwide Commercial Car Insurance also offers the most coverage options and discounts. For example:
The overage discount is 10 percent for trucks to 3,500 pounds.
The international driver’s discount allows a driver to earn an additional discount when traveling outside the US.
The policy discounts for motorcycles, big rigs, and older vehicles.
Additional coverage for extra coverage, such as the theft coverage and the topaz program, which provides automatic traction control systems.
A discount for national liability policies.
Nationwide Financial Stability
Nationwide has an A+ financial stability rating from AM Best, which is the highest possible. Specific ratings are not available publicly to consumers.
What Nationwide Is Missing
Every auto insurance company can be described in one word; go figure. But, there are also auto insurance industry giants that are really missing out in being even more successful. And we have to applaud these auto insurance companies for it. So, let us take a closer look at some of these.
Nationwide Customer Reviews
Nationwide has been in business for a long time. Learn more about Life Insurance or National Flood Insurance.
According to published reviews, many customers say that Nationwide offers the rates, coverage and ease of use that they want to buy a car insurance policy from. And once they see the rates Nationwide offers, most of their customers choose to stay with this company for years. Learn more about Windshield Insurance or Car Insurance.
Among the people surveyed with Nationwide products, just under 40% consider Nationwide the best in-network insurance provider, giving it a 4.5 out of 5 possible points. About a quarter of people surveyed had used the provider before and the majority had positive impressions of it. Learn more about Personal Umbrella Insurance.
Nationwide is one of just a few insurance carriers that can have the most competitive rates, in addition to speedy customer service on claims. Between the company’s online claims processing system and roadside assistance, many reviewers found Nationwide to be an easy option for insurance coverage and a pleasant experience overall. Learn more about Insurance Rates.
Customers had mildly positive feedback. Customers tended to like that the insurance is available through an insurance provider and that the provider often has a wide variety of policies and discounts. Learn more about Home Insurance .
How We Evaluated Commercial Auto Insurance Companies
When it comes to dealing with insurance companies, most people don’t have the time to do their research. They have to deal with customer complaints, identify insurance fraud, and regularly read through 20+ pages of fine print each time they buy a policy.
Although you can’t select the company you want to work with solely based on the company’s reputation, it’s important to find a carrier with a good track record. We select 6 of the best insurance companies, rated for customer satisfaction and premiums, to help you save time and money on your commercial auto insurance policy.
What Commercial Auto Insurance Is
Commercial auto insurance is a type of automobile coverage that covers businesses against losses resulting from fraud, accidents or extraordinary events that are beyond their control. If you own a business, you need commercial auto insurance for your protection.
The term "commercial auto insurance" has lost its literal meaning as it includes combinations of commercial auto, property and general liability insurance. Commercial auto insurance covers commercial business and companies, whether they operate on the public street or work in a factory.
A fire, an accident or a security breach can be enough reasons to drop the coverage of a business. In this post, we'll talk about the types of coverage that protect the motorist, the company and the pocket.
Why You Need Commercial Auto Insurance – why Insurance Is Important to Your Business
Today's world is full of new and emerging technologies – digital innovations, space exploration and weather super-forecasting being a few examples. However, for most businesses, no matter how large or small, it is more than enough reasons to protect their commercial motor vehicles (CMV) with commercial auto insurance.
The reason being that these policies help companies in:
Buying a commercial insurance policy for free is not at all uncommon, as some car insurance companies provide free coverage in return for discounts on other types of insurance policies, such as homeowners or renters.
Who Needs Commercial Auto Insurance?
Commercial auto insurance is important for owners of fleets because auto insurance for fleets is usually heavier and more expensive than for individual drivers. These businesses can be private companies, non-profit organizations, or governmental bodies. They also may have employees who drive their vehicles.
The most common reasons for needing auto insurance for fleets include:
- The organization owns more than five vehicles
- The organization owns more than 15 vehicles
- The organization is in the business of transporting goods or materials
- The organization is in the business of transporting passengers for a fee
- The organization has a chemical, metal, or waste shipment business
- The organization transports hazardous materials
- The organization carries an unusually high value of goods and items for a commercial enterprise
How to Reduce Commercial Auto Insurance Costs
Whether you own a franchise, a family business or it’s a sole proprietorship, your business will need commercial insurance for its vehicles and assets.
Unfortunately, the cost of commercial insurance can fluctuate regardless of the rating of your business because its value is based on an evaluation of the loss risk. As the recent recession taught us, even a slight change in the industry rating can affect the actual cost of your insurance.
This is why it’s important to calculate your costs. Here are six steps you can take to make sure you’re getting the best commercial auto insurance rates:
Reduce Your Insurance Options
The first thing you do when searching for a commercial auto insurance company is select your policy and coverage limits. The more coverage you choose, the more unnecessary costly insurance you add, which ends up increasing your insurance costs. Therefore, start by determining the needs of your business and check on your freedom of choice.
Utilize FREE Tools
The next step is to check commercial auto insurance quotes. As we’ve already stated, the auto insurance companies compete for business in different ways. Therefore, they are often willing to give you commercial auto insurance quotes for a smaller premium than if you had called a competitor.
They will likely cover the damage to your vehicle, injuries to passengers and property, as well as cost of repairs and medical care if you’re involved in a wreck. Don’t be intimidated by the size of your insurance company, though. Companies of all sizes offer the same coverage, how you use your policy, and how much premium you’ll pay differs based on the size of the company.
The following is a list of the 6 best commercial auto liability insurance companies, ranked in order from largest to smallest. This means that smaller companies have less total liability but tend to be more responsive toward candidates.