Any business that operates, owns, or leases trucks needs to have the correct insurance coverage. Commercial truck insurance is available from hundreds of companies, which can make it hard to be sure you’re choosing the right policy for your needs and budget.
One way to quickly view quotes from several companies is by using commercial truck insurance brokers. These companies work with several insurance providers to ensure you have various options to choose from when you need trucking insurance.
- The 6 best commercial truck insurance brokers
- Top trucking insurance agencies
- Where to get commercial truck insurance quotes?
- What are the pros and cons of working with commercial truck insurance brokers?
- What makes commercial truck insurance brokers unique
- How much does commercial truck insurance cost?
- How to get cheap commercial truck insurance?
The 6 best commercial truck insurance brokers
Since there are several brokers with different partners and products, deciding where to start can be challenging. Below you will find a list of the best truck insurance brokers in 2022, so you have an excellent place to begin your search. Consider the following:
- Simply Business: Best for comparing quotes
- CoverWallet: Best for a streamlined quote process
- CoverHound: Best for a process with transparency
- Commercial Truck Insurance HQ: Best for a range of options
- Commercialinsurance.net: Best for new truck drivers and new trucking businesses
- InsurePro: Best for short term and flexible coverage
Simply Business: Best for comparing several quotes
The second broker known for offering commercial truck insurance is Simply Business. The website is set up to provide a variety of quotes for many industries. This can make it quicker and easier than going to one insurance company website only to visit a second, third, and fourth to compare all the available options.
However, when it comes to commercial trucking insurance, Simply Business can’t provide specific quotes online. Instead, since many factors go into a quote for this industry, you will place your information on the website and submit it. Then, an agent of Simply Business will go through your options and reach out with quotes over the phone or by email.
CoverWallet: Best for a streamlined quote process
CoverWallet has a lot going for it to provide commercial truck insurance. First, it makes it quick and easy to compare various quotes at once. It also makes recommendations about which insurance options might be suitable for you. Then, after purchasing insurance that meets your needs, you can also file your claims online.
This broker explains everything in easy terms so you understand the fundamentals of commercial truck insurance and what your policy will cover. The website for this broker is well-made and has online logins so you can request quotes, manage your account, and speak with representatives when you have questions.
Instant online commercial truck insurance quotes aren’t available given the complicated nature of trucking business, but you can leave your information, and someone will get back to you with options. The representatives are intelligent and able to explain the advantages and disadvantages to make the best decision. It’s also time-saving since there’s no need to visit several insurance company websites.
CoverHound: Best for a process with transparency
CoverHound is another broker available for commercial trucking insurance. In addition, this company provides business owners, general liability, professional liability, workers compensation, cyber, and other types of coverage. This broker operates in all states so that anyone can get a quote quickly online.
You put in information about what insurance you need, and quotes will pop up. If extra help is required, your information will be submitted, and someone will get back to you. At that point, you can compare options in coverage and buy online or through an advisor.
Commercial Truck Insurance HQ: Best for a range of options
Commercial Truck Insurance HQ was created to make getting insurance quicker. The brand lets you shop many providers that are competitive to your operation. You can compare coverages, prices, and payment options to decide which policy is suitable for your needs.
This company is available in all 50 states, covers all truck and trailer types, and works for everything from local to long-haul operations. Insurance is available for everyone from owner-operators to large fleets, and even new trucking businesses can get quality insurance online or by phone.
Commercialinsurance.net: Best for new truck drivers or new trucking businesses
Commercialinsurance.net is one of the best independent marketplaces for commercial trucking insurance. It has a simple system to compare insurance quotes from many high-quality providers. Commercialinsurance.net is also known for their highly knowledgeable agents of trucking industries.
Commercialinsurance.net specializes in finding affordable trucking coverage for new truck drivers or new trucking businesses who usually have a hard time finding trucking coverage, especially affordable policies. Commercialinsurance.net works with an intensive network of agents who represent hundreds of carriers, so they can find the best coverage for you trucking business.
InsurePro: Best for short term and flexible 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.
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.
Top trucking insurance agencies
Trucking insurance agency is another term for commercial truck broker. Agency and brokerage are the same term, referring to a firm partnering with several trucking insurance companies and working with customers to help them find the best trucking insurance coverages at the best prices for the customers.
Trucking insurance agencies and brokerages partner with several insurance companies to represent them and work with prospect customers. They focus on helping customers find the right coverages at the right prices.
What is an insurance broker?
An insurance broker is a licensed insurance professional who helps customers wade through the choices of insurance companies to find the right one for their needs. Brokers are dedicated to working closely with their customers. They focus on the client’s needs and recommend policies based on those needs that can be obtained at the best available prices.
Brokers represent several insurance companies, so they can pull quotes from these companies that they represent and you only need to provide the details of your quote request just once. After your select the best and the cheapest quote, they will work with the insurance company to close the deal for you, ie. get the insurance policy bound with the company you selected.
What is a commercial truck insurance broker?
Many insurance brokers specialize in small businesses. They brokers can serve clients in several industries from retail to manufacturing to services. In theory, they can also serve trucking businesses. However, since trucking businesses are rather complicated. Some brokers tend to focus on serving trucking businesses only and they are called commercial truck insurance brokers. Even they can work with small businesses in other industries, they choose to focus 100% of their efforts serving trucking business only.
Is an insurance agent the same as an insurance broker?
An insurance agent is also a licensed insurance professional. They also attempt to get their clients the best prices they can. However, an insurance agent works for a specific company or companies. That means that an insurance agent represents the company.
An agent sells products for the insurer and receives a commission from the sale. A broker shops for quotes from several insurers and then connects the buyer with the insurance company to complete the transaction.
How do you choose between a commercial truck broker and an agent?
The choice between a broker and an agent comes down to personal preference. Would you rather work with someone who shops for quotes for you, or would you rather work with someone who sells the products provided by a particular company and likely is an expert in those products? On the one hand, you can get service centered around your background and needs. On the other, you get expert knowledge of specific coverages and rates.
Regardless of whether you prefer to work with a broker or an agent, here are some tips to help you choose the right person with whom to work. These tips were initially geared toward brokers, but they apply when choosing an agent as well.
- Do your research. Know what kind of coverage is required in your state and your branch of the trucking industry. Armed with your knowledge, interview potential brokers and agents to determine if they are knowledgeable about your needs and will prove to be an asset rather than a liability.
- Shop for multiple quotes. You don’t have to purchase the first policy you’re offered nor sign with the first broker you speak with. Agents and brokers alike are in the business of selling insurance, so they want to sell to you. Find the one you feel is the right fit with the right coverages.
- Get information about the companies you are considering. Do they have good customer reviews? Check to see if they have any complaints with the Better Business Bureau. If you can, get the company’s AM Best or Standard and Poor’s ratings. Those ratings will help you know how stable the chosen company is.
Ask if the company offers discounts. Insurance can be expensive. To save money, find out if there are any discounts available. Many companies offer discounted rates for good driving records and having multiple policies with the same company, but there may be other discounts available that your agent or broker can help you get.
Where to get commercial truck insurance quotes?
Working with commercial truck insurance brokers is one convenient way to get several commercial truck insurance quotes so that you can compare and select the best one for your business because all commercial truck brokers work with several insurance companies, they can get quotes from these companies for you to compare and select the final one. However, this means that if an insurance company doesn’t work with a broker, and you want to get quotes from that company, you have to reach out to them directly.
Another way for you to get several commercial truck insurance quotes is to contact the insurance companies you are interested in directly and get quotes from them one by one. Here are the top 10 commercial truck insurance companies in the US. Obviously, this is a much more time-consuming process and many insurance companies requires you to work with their agents.
Learn more at where to get commercial truck insurance quotes.
What are the pros and cons of working with commercial truck insurance brokers?
|– Very knowledgeable about different nuances of commercial truck insurance industry
– Make it easy for you to compare several quotes to choose the best and the cheapest quotes for you
– They work for your business, so they will work hard to make sure you have the best coverages at the cheapest price
|– Can only provide you with the quotes of the insurance companies that they are partnering with
Learn more at the top commercial truck insurance brokers.
What makes commercial truck insurance brokers unique
What sets a commercial truck insurance broker apart is that they help you find a policy that meets your needs – but those policies aren’t their own. Instead, an agent or a broker website will give you insight into the offerings of several different insurance providers. Then, you can compare them all and decide which option meets your needs.
Unlike insurance websites, which only provide information about their own coverage, a brokerage opens things up for you. Brokers will partner with several insurance providers and recommend options from all that might be useful for your needs.
How much does commercial truck insurance cost?
Commercial truck insurance cost varies depending on several factors such as the type of truck, the cargo you haul, location, driving radius, in-state or out-of-state trucking, driver’s experience, etc. The average cost of commercial truck insurance is $16,500 a year.
Be sure to get quotes from several companies or work with a top broker like Simply Business, CoverWallet, or InsurePro to get several quotes to compare them before making your final decision.
Learn more at how much commercial truck insurance costs
How to get cheap commercial truck insurance?
Commercial truck insurance may be outrageously costly due to its high risk nature of trucking business. It is required in all 50 states, so you can’t skip it. Here’s how to find affordable rates for your commercial truck insurance policies.
- Get several quotes from many insurers or work with a commercial truck insurance broker so that they can help you get several quotes. Be sure to always compare quotes, at least 3 quotes.
- Make sure to maintain your commercial truck insurance steady. Having gaps will increase your premiums.
- Keep a clean driving record
- Make sure to follow all safety practices and guidelines
Learn more at the cheapest commercial truck insurance companies.
When you want commercial trucking insurance fast, a broker is an excellent choice to learn more about your options. You’ll see options from several insurance companies so you can decide which policy is best for your operation. It makes getting and keeping insurance a cinch, especially using the aforementioned companies.