Commercial truck insurance is expensive, but necessary. There are approximately 77,000 truck drivers in Florida alone, and every nine out of 1,000 jobs belong to a truck driver. Whether you have a fleet of trucks or work for yourself, whether you drive a truck in Miami, Orlando, or Jacksonville, commercial truck insurance is vital. The good news is that many companies offer commercial truck insurance coverage in Florida. Here are our recommendations of the top 6 providers.
In this article, we’ll cover the following:
- The 6 best commercial truck insurance companies
- What is commercial truck insurance?
- Commercial truck insurance requirements in Florida
- Types of trucks covered by commercial truck insurance
- How much does commercial truck insurance cost in Florida?
- How to find cheap commercial truck insurance in Florida?
- What doesn’t commercial trucking insurance cover?
The 6 best commercial truck insurance companies
We research several insurance companies offering commercial truck insurance in Florida and here are our recommendations of the 6 best providers for your consideration.
- InsurePro: Best for the innovative only-pay-when-you-drive coverage
- Progressive: Best Overall
- Simply Business: Best for comparing several quotes
- State Farm: Best for excellent customer satisfaction
- Sentry: Best for specializing in commercial insurance
- Nationwide: A solid choice if you care for customer satisfaction
- Commercialinsurance.net: Best for connecting you with knowledgeable agents
InsurePro: Best for the innovative only-pay-when-you-drive coverage
InsurePro is a newer broker. They offer innovative business insurance coverage, which they call insurance on-demand. This means that you have the flexibility of buying trucking coverage for a short period of time, even just a day and you only pay for coverage when you are on the road.
This is perfect for part-time truckers or trucking businesses that may not haul every day of the month. Buying trucking coverage for a few days when you need it will help you save a lot of money since you don’t pay for the coverage when you are not driving your truck.
InsurePro also offers one of the best digital experiences. You can get quotes and buy the policy directly on their website, which only takes about 10-15 minutes. After buying the policy, you can manage your policy online using their dashboard with many useful features.
Progressive: Best Overall
Progressive is the top commercial vehicle insurer in the United States, capturing 12% of the overall market. They serve all fifty states and insure all kinds of commercial vehicles: everything from tractor trailers to ice cream trucks.
Progressive has a wide variety of discounts, so you can reduce your costs. You can discounts for:
- Years of experience
- Having a CDL certification
- Paying in full
- Bundling with personal auto insurance
- Electronic logging devices (to monitor driving)
- Signing up for autopay
This quote from Progressive is for a tractor trailer company with no accidents or moving violations in the past three years.
Progressive will give you a quote online, but to buy a policy you have to go through an agent.
Simply Business: Best for comparing several quotes
Simply Business is an online insurance broker. They work with several commercial insurance companies and are able to pull quotes from these companies for your comparison. Their quote form is simple and straightforward. After you answer questions about your business, revenue, and your drivers, they usually spit out at least one quote, and sometimes two or three quotes so you can compare them. This makes comparison shopping much easier.
However, it doesn’t always work. When we requested a quote for our commercial trucking business, we got the screen that asks us to call them because they need to clarify a few details in our trucking business.
If this happens to you, you’ll have to call. It makes sense because there are a lot of details that make up a commercial truck insurance quote, such as:
- Years you’ve been in business
- Experience in the industry
- Whether you have a DOT number on the vehicles
- Whether or not you have a CDL
- How much revenue you expect to earn
- How many employees you have
- Driving records of employees
- Age of trucks
- Weight of trucks
- How far you drive in a given day
- Dangerous chemicals
- Where vehicles are stored
According to Simply Business, basic commercial trucking insurance starts at $135 a month. They are a subsidiary of Travelers, one of the biggest insurance companies in the world, so they have good financial backing. They also earn an average 4.1 stars out of five on the Trustpilot, which is pretty good.
State Farm: Best for excellent customer satisfaction
State Farm doesn’t offer online quotes: you’ll have to work with an agent. However, they do have high customer satisfaction ratings overall, tying for first with Liberty Mutual in J.D. Power’s Insurance Shopping Study for 2021.
Like Progressive, they have a lot of discounts you can benefit from, such as multiple vehicle, accident-free, anti-theft devices and more. They offer all of the standard coverage options you would expect, such as:
- Bodily injury
- Property damage
- Personal injury
- Underinsured/uninsured motorist
On the plus side, State Farm boasts a wide network of agents and it’s easy to find one in your area.
Sentry: Best for specializing in commercial insurance
Sentry was founded in 1904, so they have over one hundred years of experience. They serve all fifty states, including Florida. They can insure large businesses, trucking fleets, or even just one truck. Since they are a small company, they offer personal attention and service that’s hard to find these days.
Most large insurance companies offer products to both personal and commercial customers. Some insuretech startups like Next or Thimble specialize in commercial insurance only. However, these insuretech startups don’t offer commercial auto or commercial truck insurance. Sentry is probably the only commercial insurance specialist offering commercial truck insurance. This makes them unique.
Sentry doesn’t offer online quotes: you’ll have to work through an agent. On the BBB website they are not accredited (which doesn’t mean much) and they earn 1.05 stars out of five. However, this is based on just 22 reviews, so it might not be representative.
Nationwide: A solid choice if you care for customer satisfaction
Nationwide is one of the older auto insurers in the United States, and since they do indeed serve all fifty states, it’s easy to find a local office if you need one. Nationwide is one of the top insurers with the highest customer satisfaction rating in the prestigious JD Power Study 2021.
Nationwide doesn’t offer commercial truck insurance quotes online. You have to contact an agent to get a quote for your trucking business.
A lot of variables go into a commercial trucking quote, so you’ll get a better idea of what you’ll pay when you enter your own quote. They do offer multiple discounts, so you can save some money.
Nationwide insures most trucks, but they do not insure semis or tractor trailers, so if you have those in your fleet, you’ll have to look elsewhere.
Commercialinsurance.net: Best for connecting you with knowledgeable agents
Commercialinsurance.net is a national broker specializing in small business insurance, including trucking businesses. They offer a wide range of small business coverages for all industries. For trucking businesses, they offer all coverages that a truck owner operator or a trucking business would need. Whatever coverages you might need for your trucking business, you can find at commercialinsurance.net
One of the unique aspect of commercialinsurance.net is that they partner with hundreds of agents across the country, who represent hundreds of carriers. These agents are experts in their field, knowledgeable about the specifics of each industry as they have accumulated years of experience helping tens of thousands of customers. Regardless how unique your trucking business is, you can count on commercialinsurance.net connecting you with the most knowledgeable about your situation who will help you find the right coverages for your business at the most affordable prices.
What is commercial truck insurance?
Commercial truck insurance is an insurance policy that covers trucking businesses, people who use trucks for work, or companies that use trucks. Unlike commercial auto insurance, commercial truck insurance covers large vehicles that are often used in construction, contracting, or hauling freight.
Even though commercial trucking insurance is typically purchased by the owner of the company, it insures the drivers, passengers and any individuals harmed in an accident.
Commercial truck insurance requirements in Florida
There are federal regulations regarding how much insurance you need if you drive or own a commercial truck. You can read the list of what’s required here, but the requirements are based on truck weight and what kind of cargo it carries. Generally, the heavier the truck, the more you’ll pay in insurance. Here’s a table:
|Type of freight||Minimum liability coverage|
|Non-hazardous, vehicle under 10,001 lbs.||$300,000|
|Non-hazardous freight for vehicles over 10,001 lbs.||$750,000|
|Hazardous material or explosives||$5,000,000|
Types of trucks covered by commercial truck insurance
Almost every type of truck can be insured by commercial trucking insurance, including:
- Dump trucks – Learn more at dump truck insurance cost and the best dump truck insurance companies
- Cement mixers
- Box trucks – Learn more at box truck insurance cost and the best box truck insurance companies
- Tow trucks – Learn more at tow truck insurance cost and the best tow truck insurance companies
- Semis – Learn more at semi truck insurance cost and the best semi truck insurance companies
- Pickup trucks – Learn more at the average cost of pickup truck insurance per month
- Log truck –
Pickup trucks may be insured under a commercial auto policy or a personal auto policy. If you’re just driving a pickup truck because you like them and occasionally go antiquing, a personal auto insurance policy is fine. If you use a pickup truck for your business, such as contracting or because you’re a landscaper, you’ll need commercial truck insurance.
Log truck insurance in Florida
Florida is a vast state with 17 million acres of forests, most of which are working timberlands and are owned by private companies. State and federal government own some of these timberlands. The forestry industry employs 124,000 Floridians and generates $25 billion a year for the state economy.
As the result, the logging industry is pretty healthy and growing to support the wood-using mills in the state. These wood-using mills need to have log trucks to transport woods. Log hauling is actually a high risk industry and they will need log truck insurance to protect themselves from the risks associated with log hauling. See more at our recommendations of the best log truck insurance companies.
Semi truck insurance in Florida
With 77,000 truck drivers in Florida and the majority of those are driving semi trucks. According to a Florida-based injury law firm, there were at least 23,000 accidents involved a semi truck in Florida in 2019. That is a significant number of accidents. Almost 30% of truck drivers in Florida were involved in a semi truck accident in 2019. These semi truck drivers must have semi truck insurance to protect them. Without a proper commercial truck insurance policy in place, the drivers and their businesses could go out of business if you are found guilty in an accident.
Semi truck insurance can be expensive. It may cost a business up to $10,000 and above to cover for a driver and one semi truck. Learn more about the semi truck insurance cost.
Finding a good and affordable semi truck insurance policy in Florida is critical for all semi truck drivers and businesses to ensure they are protected in their line of business. Here are our recommendations of the best semi truck insurance companies for your consideration.
Tow truck insurance in Florida
The towing industry in Florida is estimated to generate ~$340 million revenue in 2021, according to Statista, a leading business intelligent company. With a nationwide shortage of truck drivers, Florida has experienced the same in the past years. Tow truck driving is a high-risk job and doesn’t pay necessarily much either. The average salary for a tow truck driver in Florida is about $55,000.
Towing companies have increased salary to attract more employees to apply for their open positions. They also need to offer proper insurance coverage for these drivers. Tow truck insurance isn’t cheap either. It can cost up to $10,000 or more for each driver and each truck. Learn more at tow truck insurance cost.
Finding a good tow truck insurance policy at an affordable rate is critical for Florida-based towing companies. Here are our recommendations of the best tow truck insurance companies.
How much does commercial truck insurance cost in Florida?
The average cost of commercial truck insurance in Florida, according to a study, in between $2,000 and $18,000 a year per vehicle.
It makes a difference whether you have a USDOT filing or not. For example, in Florida, with a USDOT filing, the average cost of commercial trucking insurance is $19,480. Without it, you’ll pay only $12,872 (based on a 40-year old driver with a $40,000 tractor trailer).
You need a DOT number if your truck weighs more than 10,001 pounds and you use it for business purposes. You’re also required to get one if you haul or transport hazardous materials. There are many federal and state regulations surrounding who does and does not need a DOT number: you can read about federal guidelines here, but be sure to check with your state as well. Florida’s are here.
How to find cheap commercial truck insurance in Florida?
Commercial triuck insurance is required legally in Florida. While it might be more expensive than personal auto insurance, you can still find cheap commercial truck insurance that you can afford by following the tips below:
- Always shop around with at least 3-5 providers or a digital broker such as as CoverWallet to compare several quotes before deciding on the final carrier
- Maintain a good driving record and credit score will help decrease your commercial truck premiums
- Maintaining your commercial truck insurance coverage steadily. If you have gaps in your commercial truck insurance coverage, your premiums might increase as a result
- Lastly, if you also need another business insurance policies such as general liability or professional liability or workers compensation insurance, bundling these policies with the commercial auto insurance policy will earn discounts on the policies.
What doesn’t commercial trucking insurance cover?
While commercial trucking insurance covers the same things your personal auto insurance does, there are some things it won’t cover. It won’t cover intentional damages, and it won’t cover the following types of cargo:
- Live animals
You can get some of these things covered by other insurance policies or a rider. Contraband is not insurable.
Commercial truck insurance in Orlando, Florida
There are 4,878 trucking businesses with DOT registered in Orlando, Florida. Trucking business in Orlando, FL has been experiencing driver shortage in the past years so severe that local trucking businesses has offered signing bonuses of $15,000 to lure new truckers to join the industry. This has run the media headlines in Orlando. Trucking businesses not only spend more to hire new truckers, they will also need to spend more on providing trucking insurance for these new drivers since commercial truck insurance for new drivers is a lot more expensive.
However, making sure these new drivers have proper and sufficient insurance coverage is critical in the long-term success of these businesses. Be sure to consider the best providers that you recommend above to secure good truck coverage at the most affordable prices in Orlando, FL.
Commercial truck insurance in Jacksonville, Florida
There are 2,980 trucking businesses with DOT registered in Jacksonville, Florida. Similar to the situation in Orlando, Jacksonville, FL has also experienced truck driver shortage, especially for long haul trucking businesses. Recruiting new drivers to the industry is also necessary. Finding good truck insurance coverage for these new drivers at an affordable rate is also critical. Be sure to consider the top 6 providers of commercial truck insurance in the state of Florida we recommend above.
Although commercial trucking insurance is expensive, trying to squeak by without it could result in even more expenses. Shop around and get the best policy for you.