Commercial truck insurance is a must-have whether you are an owner-operator or part of a fleet. Most states require you to carry specific liability limits while operating your truck. If you travel across state lines, there are also federal interstate guidelines. Commercial truck insurance protects both you and other people on the road.
If you are looking for commercial truck insurance in Orlando, you have come to the right place. We discuss the best commercial truck insurance companies in Orlando, Florida and everything you need to know to buy commercial truck insurance in Orlando, Florida.
- The 4 best commercial truck insurance companies in Orlando, Florida
- What is commercial truck insurance?
- What kind of insurance do commercial truckers need?
- What does commercial truck insurance cover?
- How much does commercial truck insurance cost?
- How to get cheap commercial truck insurance in Orlando, FL
- Getting commercial truck insurance quotes online in Orlando, FL
The 4 best commercial truck insurance companies in Orlando, Florida
- Progressive: Best Overall
- biBERK: Best for low-cost truck insurance coverage
- THREE: Best for comprehensive policy at a reasonable price
- Commercialinsurance.net: Best for knowledgeable agents
Progressive: Best Overall
Progressive is one of the top auto insurance providers in the US for both private and commercial insurance coverages. They offer online policy management as well as a proprietary app you can use. They advertise 24/7 service, and they offer discounts for bundling policies and safe driving, as reported by their Snapshot device.
For a sole proprietor operating a car hauler in Orlando, Florida, Progressive returned the following quote.
- One of the largest insurers for both personal and commercial coverage
- Offers a variety of coverage options
- Available in all 50 states
- JD Power gave a below-average rating for customer satisfaction
biBERK: Best for low-cost truck insurance coverage
biBERK is part of the Berkshire Hathaway group of insurers. Their quote process is relatively simple, but they do ask for a soft pull of credit depending on the policy you are requesting. biBERK provides you with a complete online experience. Unfortunately, not all coverages are offered in every state, and if you are looking for specialty coverages, they may not offer them.
We requested a quote from biBERK for a retail delivery vehicle that doesn’t deliver furniture in Orlando, Florida. We limited the mileage traveled to less than 300 miles to set parameters for the quote. The amount returned is the monthly payment amount for a commercial auto policy with those criteria.
- Find a quote and purchase policies online
- File claims online
- Download certificate of insurance at your convenience
- Not all coverages are available in every state
- Many specialized coverages aren’t available
THREE: Best for comprehensive policy at a reasonable rate
THREE’s claim to fame is that all of its policies are simple to understand and three pages long. They are a part of the Berkshire Hathaway insurance group, and as such, they are respected insurers. Unfortunately, THREE is not yet available in all 50 states.
THREE is known for its simple yet comprehensive policy. Any policy document is 3-page long and includes all three coverages that small trucking business may need: commercial truck insurance, trucking general liability, and commercial property coverage.
- One policy for multiple coverages
- Includes some coverages that many companies exclude (property damage due to flooding, for example)
- Have licensed agents available to help you shop and manage policies
- Limited online capabilities
- Only available in 23 states
Commercialinsurance.net: Best for knowledgeable agents
Commercialinsurance.net is an insurance brokerage. The company partners with a network of 100+ agents who are very knowledgeable in their own niche and industries. They specialize in helping small businesses find the best coverages at the most reasonable prices
- Knowledgeable agents
- If you have difficulties finding coverage at a reasonable price, you may want to work with their agent
- No tools to help manage multiple policies from different providers
- No mobile app
What is commercial truck insurance?
Commercial truck insurance is similar to your private auto insurance. Policies offer a combination of liability, collision, and comprehensive coverages. The basic difference between commercial and private policies is in the limits required for the coverages. Commercial coverage also encompasses some other coverages that aren’t available in the private insurance market.
What kind of insurance do commercial truckers need?
The Federal Motor Carrier Safety Administration requires commercial trucks to carry minimum insurance coverage amounts based on the vehicle they drive and their cargo. If a truck is heavier or carries more dangerous cargo, it must have more coverage. Coverage limits start at $300,000 and range up to $5 million depending on weight of the vehicle and materials carried. There are also additional requirements if you carry household goods.
You can also add other coverage to protect:
- your cargo with motor truck cargo coverage
- your trailer with trailer interchange coverage
- your truck by trucking physical damage coverage
- yourself when you are not driving your truck as a commercial vehicle with non-trucking liability insurance or without a trailer attached to it with bobtail insurance, or
- when you are injured and become sick while being at work with workers comp insurance for truckers
What does commercial truck insurance cover?
Comprehensive and collision coverage provides coverage for damage to your truck and person. Like your private auto insurance, the liability portion of commercial truck insurance covers injuries or property damage caused to someone else and their vehicle should you be in an accident and found responsible. There are add-ons for uninsured/underinsured motorists (some states require this coverage) and various niches within the trucking industry (refrigerated trucks, for instance).
How much does commercial truck insurance cost?
The average cost of commercial truck insurance in Orlando, FL is $1,410 per month or $16,920 a year. This is for a 40-year-old driver driving a semi truck and having a good driving record.
The policy includes trucking primary liability, bobtail, physical damage, and truck cargo coverages. Below are the average cost breakdown of different coverages:
|Commercial truck insurance coverages
|Average costs in Jacksonville
|Trucking primary liability
|$890 per month
|Trucking physical damage
|$270 per month
|$36 per month
|Truck cargo insurance
|$214 per month
These are just the averages. Your rates may be higher or lower. Commercial truck insurance rates are highly individualized. You need to shop around with a few carriers or work with a top broker to compare several quotes to find the cheapest one for you.
How to get cheap commercial truck insurance in Orlando, FL
Commercial truck insurance is expensive, but there are ways to lower the cost. Below are a few practical tips to get cheap commercial truck insurance.
- Only get the coverage that you need: As you see above, different coverages have different costs. The more coverage you have, the more expensive your policy is. So make sure you only get the coverage that you need for your trucking business.
- Keep a good driving record: Your driving record has a significant impact on your commercial truck insurance cost. Make sure you keep a clean record. If there are any violations on your driving record, make your best efforts to have them removed.
- The policy details: The higher your policy’s coverage limits are and the lower your deductibles are, the more expensive your policy will be. Make sure you have the right coverage limits and the right deductibles.
- Compare several quotes: The most significant factor affecting your commercial truck insurance cost is the insurance companies that you choose. Be sure to shop around with a few companies or work with a broker to compare several quotes to choose the best and the cheapest one for you.
Learn more at the cheapest commercial truck insurance companies
Getting commercial truck insurance quotes online in Orlando, FL
Here are a few carriers offering commercial truck insurance quotes online for truckers and trucking businesses in Orlando, FL: Progressive, biBERK, THREE, and InsurePro.
It shouldn’t take more than 10 minutes to get a complete quote from these companies’ websites.
Getting a quote from these companies should be the first step in your buying process. After getting quotes from these companies, I will have a good idea of what your premiums should be.
If you are not very happy with these quotes, you can choose to work with a top broker like Simply Business or Commercialinsurance.net or Smart Financial and have them get several quotes from their partners so that you can compare and select the best and the cheapest one for you.
If you operate a vehicle to transport goods or provide services, you should have a commercial auto policy. For larger vehicles, that is a commercial truck policy. These policies are similar to your personal auto coverage, except they require higher coverage limits and tend to have higher premiums.