Trucking in Mississippi is expected to grow by about 5% over the next three years, which is slightly less than the nationwide average of 6% growth. However, since Mississippi has the lowest cost of living in the nation, truck drivers in Mississippi enjoy a lucrative, recession-resistant profession that will be stable source of income for many years. Protect your trucking business by getting commercial truck insurance and you’ll be on your way.
- The 6 best commercial truck insurance companies in Mississippi
- What does commercial truck insurance cover in Mississippi?
- Commercial truck insurance requirements in Mississippi
- How much does commercial truck insurance cost in Mississippi?
- How can I find cheap commercial truck insurance in Mississippi?
The 6 best commercial truck insurance companies in Mississippi
Hundreds of insurance companies offer commercial truck insurance in Mississippi. It can be overwhelming trying to find the best companies to buy commercial truck insurance. We have done the research and here are our recommendations of the top 6 providers in Mississippi:
- Progressive: Best Overall
- Simply Business: Best for comparing quotes
- Allstate: Best for customer service
- Travelers: Best for optional coverage
- Commercialinsurance.net: Best for connecting truckers and trucking businesses with knowledgeable agents
- The Hartford: Best for flexible coverage
Progressive: Best Overall
Progressive is the number one insurer of commercial vehicles in the United States. They also have other types of business insurance, such as general liability, business owners’ policies, workers comp, and more. They also offer a variety of discounts, such as bundling, pay in full, electronic payment, and others.
The main thing that Progressive does well is to provide quick, easy online quotes. Whatever type of truck you have, whatever type of load you haul, Progressive can provide a quote. They are actually the only carrier providing a truck insurance quote online. So, you may want to give them a try. It shouldn’t take more than 10 minutes.
This is for a tractor-trailer parked in Natchez, with a $750,000 CSL.
Simply Business: Best for comparing quotes
Simply Business is an online insurance broker, like CoverWallet or Smart Financial. It doesn’t underwrite insurance policies by itself but hooks you up with companies they partner with to provide you with online quotes.
Simply Business has good reviews on Trustpilot, with most customers praising how quick and easy the whole process was for them. They score 4.1 stars out of a possible 5, which is great.
Technically, Simply Business is headquartered in the U.K. and is owned by Travelers. United States customers may find their business offerings a little narrow, but it still might be worth it to get a quote.
Allstate: Best for customer service
Allstate is one of the top ten commercial auto insurers in the U.S. They also have other business insurance, such as general liability, business owners’ policies, and commercial property insurance. They sell insurance through a network of more than 14,000 agents, so each one is familiar with the laws in your state.
Allstate was ranked number one on J.D. Power’s U.S. Small Commercial Insurance Study. They scored an overall 848 points out of 1,000 and were highest in customer satisfaction.
Travelers: Best for optional coverage
You can elect to add up to 13 coverage enhancements onto your commercial auto insurance policy at Travelers. Options include auto lease gap coverage, employee hired auto coverage, roadside assistance, and public sector insurance. Oddly, Travelers does not include personal injury protection as part of their commercial auto insurance coverage, but you can get it as an add-on.
You’ll need to get in touch with an agent to get a quote from Travelers. On the plus side, they are independent agents, which means they can recommend companies other than Travelers if they offer a better deal. On the negative side, they work on commission, so the more insurance they sell you, the more they get paid.
Commercialinsurance.net: Best for connecting truckers and trucking businesses with knowledgeable agents
Commercial insurance.net is another online insurance broker. They are headquartered in Norman, OK and they offer policies in all fifty states. If you call them, they will try to match you with a local agent.
They don’t underwrite any insurance policies themselves, but they provide quotes from partner insurance companies. Since they aren’t an insurance company, they don’t provide any discounts. In order to work with Commercial insurance.net, you need to be a company with less than 10 million in yearly revenue.
Commercial insurance.net only works through agents. After you fill out the online form, based on the information you provided, they will match you with the agents in their network who is most knowledgeable about the specifics of your trucking business. That agent will call you and discuss your quote options.
The Hartford: Best for flexible coverage
The Hartford has been in business since 1810, making it one of the oldest insurance companies in the nation. They have flexible policies and offer most types of business insurance. Their commercial auto policies include coverage for electronic devices, gap coverage for leased vehicles, and a 10% incentive if you replace a totaled vehicle with an electric or hybrid model.
You can get quotes for some policies online, but not commercial auto insurance. Even if you were to get a quote online, to purchase insurance you have to call and speak to an agent.
The Hartford is one of the top 10 insurance companies included on the prestigious J.D. Power’s U.S. Small Commercial Insurance Study.
What does commercial truck insurance cover in Mississippi?
Commercial truck insurance is a type of policy that covers vehicles being used for business. If you use your vehicle for work, you need commercial truck insurance. Commercial trucking insurance is made up of several parts. Some of them are similar to personal auto insurance:
Primary liability: Covers damages you do to others’ property in an accident
Physical damage coverage: Covers your truck and your equipment if it’s damaged in an accident. Learn more at the trucking physical damage insurance companies.
Medical payments: Pays for injuries to other parties.
Uninsured/underinsured motorists: Covers you if someone with either no insurance or not enough insurance to cover the costs damages either you or your vehicle.
Other parts of trucking insurance are unique to trucks.
Non-trucking liability: this coverage provides protection if the truck damages property or causes injuries while it’s not under dispatch. Learn more at the best non-trucking liability insurance companies.
This coverage is sometimes confused with bobtail insurance. They are similar, but with subtle differences. Learn more about the differences between the two and determine which one you actually need.
Motor truck cargo coverage: coverage for your cargo if it’s damaged or lost. Motor truck cargo coverage can be either broad form or specified perils. Broad form coverage protects your cargo is anything goes wrong. Specified perils only covers you for losses named in the policy. You want a broad form policy. Learn more at the motor truck cargo insurance companies.
Trailer interchange: Covers a non-owned trailer. Learn more everything about trailer interchange coverage.
Commercial truck insurance requirements in Mississippi
Mississippi requires drivers of trucks weighing over 10,001 pounds to have a CDL (commercial driver’s license). You’ll also need a CDL if you’re carrying more than nine passengers or if you’re carrying hazardous materials.
Commercial vehicles weighing more than 57,650 lbs. are not allowed on small highways, and if your vehicle weighs more than 80,000 lbs., you’ll need to get an oversize load permit to travel on any Mississippi highway or interstate.
Large trucks must stop at weigh stations, although you can register with an electronic Prepass system that will let you bypass the weigh station.
Insurance requirements in Mississippi are as follows:
If you cross state lines, you’ll need to comply with federal guidelines, which could be higher.
How much does commercial truck insurance cost in Mississippi?
The average cost of commercial truck insurance in Mississippi is $4,664 a year with a USDOT filing and $3,552 without a USDOT filing. Mississippi is the cheapest state for commercial truck insurance, coming in about $2,500 less than Wyoming and about a third of the cost of insurance in California.
Premiums vary by the type of truck you’re insuring, the weight of the vehicle, what type of cargo you’ll be hauling, how far you usually drive, how many years of experience you/your drivers have, and how old your trucks are.
Different insurance companies will provide you with different quotes and different rates. Be sure to shop around with a few carriers or work with a broker like Simply Business or Commercialinsurance.net to get and compare several quotes before making your final decision.
Learn more about the details of commercial truck insurance cost
How can I find cheap commercial truck insurance in Mississippi?
The easiest way to save money on commercial truck insurance is to get several quotes from a few different insurance companies. You could save hundreds of dollars a year. Other ways to save money are to hire drivers with clean records and make sure your trucks are maintained.
Learn more at the cheapest commercial truck insurance companies
Commercial truck insurance is a necessary part of doing business. Mississippi offers some of the lowest rates on commercial truck insurance, making staying protected affordable.