5 Best Commercial Auto Insurance Companies in 2023

Nationwide is one of the few providers that will quote commercial auto insurance online. Although, depending on the type and number of vehicles, you may have to speak with an agent to get a quote.

We were quoted $2,270 annually for a one-passenger vehicle. The policy carried collision and comprehensive coverage, both with a $500 deductible. Liability had a combined single limit of $500,000.

Nationwide has four policy packages: base, plus, gold and platinum. Every package includes two types of coverage that most providers only offer as an endorsement. Accidental airbag discharge and autos hired or rented by employees. Each one has a number of endorsements available, such as $5,000 in extra expenses for stolen vehicles and expanded coverage for towing.

Nationwide offers online account and claims management, and a 24/7 call center for claims.

Customer satisfaction is high. It is third in J.D. Power’s U.S. Small Commercial Insurance Study and has lower-than-average complaints with the NAIC.

It offers a free telematics program, Vantage 360 Fleet^®, to help create a safe driving environment. While it is designed for fleets, it is available for commercial auto policies with only one vehicle. Using it provides you with a 10% discount on your auto policy, and it works through a combination of a mobile app and a device attached to your car. It monitors speed, hard braking and acceleration, and phone usage. You can use the data to change driving habits and create a safer environment.

Nationwide has nearly 100 years of experience. It has a strong financial rating of A+ (Superior) from AM Best.

We received a commercial auto quote for $2,054 annually. It was eligible for a paid-in-full discount of 15%. The policy carried collision and comprehensive coverage with a $500 deductible and $300,000 combined single limit in liability. If paying in full isn’t possible, there are multiple options for payment plans ranging from two to nine months.

Progressive offers seasonal adjustments to your policy including removing vehicles from the policy. If you’re a landscaper who plows snow, you may have a few heavy-duty trucks you only need to be insured during the winter months, and with Progressive, that is possible.

In terms of cost, there are two other significant ways to save with Progressive. One is through Snapshot ProView^®, and the other SmartHaul^®, for truckers. Both programs use telematic devices to monitor driving habits. From the data, recommendations are made to increase driving safety. Customers using Snapshot save 5% automatically just by enrolling, with more savings possible, whereas users of SmartHaul can save anywhere from 3% to 12% off their premium.

Complaints filed against Progressive are lower than the national average. Progressive is available in all 50 states but not in Washington, D.C.

For most vehicles, including fleets, you can get an online quote and purchase the policy. Progressive allows you to manage the policy, file, and track a claim online.

It’s open 24/7 and offers 24/7 roadside assistance to policyholders too.

With more than  1.9 million commercial vehicles insured, Progressive has established a strong financial position. It has a rating of A+ (Superior) from AM Best.

Quoting for business insurance is unavailable online. To get a quote, you can contact a local independent agent or call The Hartford directly at (855) 860-9763.

For commercial auto, it offers endorsements to expand coverage, including

• Loan/lease gap coverage
• Vehicle wrap coverage
• Employees as insured
• Downtime loss and rental reimbursement coverage

The Hartford has a robust safety fleet management program to help you manage risk. FleetAhead uses telematic devices to gather data on driving habits. This data is then analyzed by The Hartford’s risk engineering team, which provides coaching for safe driving improvements. While there is no specific information on discounts using this program, The Hartford does state that there are financial benefits:

• Fuel consumption decreases between 7% to 10%
• Accidents decreased by 31%
• Resulting in a 74% reduction in accident-related costs

The Hartford has lower than average complaints with the NAIC. It is also ranked third by J.D. Power for independent agent satisfaction.

While you cannot get an online quote, it does offer online claim management and policy management, including proof of insurance.

For commercial auto, there are virtual appraisals, nurse reviewers for injury claims, a network of more than  1,500 shops nationwide, and more than 8,000 windshield repair shops.

Financial stability matters because you want to know if the provider can pay your claim. The Hartford has a strong rating of A+ (Superior) by AM Best.

To get a quote, you will need to speak with an agent. On its website, you can locate an agent in your area using your ZIP code.

Travelers has two types of policy forms for commercial auto:

1. Standard offers the basic types of coverage and endorsements a business needs.
2. CoveragePlus has 13 endorsements to expand the coverage. If your business has a trailer, the trailer is insured for up to 3,000 pounds. Transportation expense (rental) is increased from $20 per day to $50 per day with a maximum of $1,500. One other feature of CoveragePlus is the insured’s employees are added as named insured including if autos owned by the employee.

There aren’t many discounts available. If you pay in full or are considered a “good payer,” you may be eligible for a discount. There are multiline discounts available, but no details on what or how much they are.

While Travelers doesn’t offer online quotes, you can manage your policy, pay your premium, and file a claim online. It also has a 24/7 line for claims and offers a 24/7 hotline for customer advocacy. So, if you encounter a problem, you can call Travelers and have an advocate on your side. This may be why Travelers has complaints that are lower than the national average for commercial auto.

Travelers is a global company with decades of financial stability. It has a rating of A++ (Superior) from AM Best.

CoverWallet works as an online marketplace to help match your business with a number of top-rated carriers. Answer questions about your business and, in just minutes, it’ll either match you with top carriers and provide you with quotes that you can compare or request that you call to discuss your business needs further.

Unfortunately, we were unable to get a quote for commercial auto insurance online. However, even when it’s unable to provide a quote, that isn’t the end. You can call, and using the quote number you are given, you can then finish the process.

CoverWallet is available nationwide and insures all types of small businesses. If more than  30 policies are overwhelming, you can select “other” or “I don’t know” and still proceed with a quote. It also offers a quick quiz to help you determine the best insurance for your business.

While CoverWallet doesn’t offer any specific discounts, it offers financing options for the policy. You can purchase a policy through CoverWallet, which will pay the policy in full for you. Then, you work out a payment plan with CoverWallet. This gives you the convenience of having insurance for a year upfront while working to pay the cost of it over time.

CoverWallet works with multiple top-rated carriers. It is owned by Aon, which has a rating of A (Excellent) from AM Best.

Commercial auto insurance is one policy with multiple coverages. It has liability (covering property damage and injury to others), first-party coverages for your vehicle (collision and comprehensive), and injuries in your vehicle (medical payments). There are additional coverages, like uninsured motorists and loss of use/transportation expenses. From there, it depends on your business needs.

Commercial auto insurance costs anywhere from $600 to $2,400 for a single vehicle. Its premiums draw on a wide range of factors, including the type of vehicle, industry, and claims history.

Most states require insurance or a statement of financial responsibility. The insurance required is usually limited to liability (property damage and bodily injury), and the state often has a minimum limit requirement.