Commercial auto insurance is a specialized insurance policy that protects vehicles used for business reasons, whether the company owner or an employee drives them.
Usually, the policy covers all costs associated with car accidents. These costs include medical bills, funeral fees, or repair bills for damaged property, depending on the limits of the policy.
A commercial auto insurance quote, however, is a price estimate you get from your insurer just before you purchase the policy. Insurers produce these quotes after checking through a list of risks they intend to cover on your behalf.
Usually, your final quote also considers the insurance company’s expected profit margin from the transaction. However, to remain competitive with other businesses in the industry, they may reduce the price somewhat, especially for first-time purchases.
Quotes are typically subject to change. In most cases, the insurance provider may decide to raise your premium if they discover some information about you, you driving record, and your car.
- Best companies where you can get commercial auto insurance quotes online
- Where to get commercial auto insurance quotes online?
- How to find cheap commercial auto insurance quotes online?
- Which information do you need to get commercial auto insurance quotes online?
- How do insurance companies calculate commercial auto insurance quotes?
Best companies where you can get commercial auto insurance quotes online
Many insurance companies offer commercial auto insurance. However, only a few commercial auto insurance quotes online. We have done the research and here are the 4 companies that offer quotes online for your reference. To illustrate their online quoting capabilities, we also got online quotes on their websites for your reference.
- Progressive: the leading commercial vehicle insurance company
- biBERK: Low-cost commercial auto insurance
- THREE: Comprehensive business insurance policy, including commercial vehicle coverage
- Simply Business: Brokers make comparing several quotes easy
Progressive: the leading commercial vehicle insurance company
Progressive is the nation’s most prominent commercial car insurance provider in the US. It is a direct insurer that provides a variety of incentives to assist in reducing your rate. One such is the opportunity to combine your commercial auto insurance with your personal policy and other forms of company insurance. Progressive is adaptable and accommodating in that it offers customizable coverage and a variety of policy savings.
Progressive is the company that always offers commercial auto insurance quotes online, always 100%. They make quotes available in most, if not all, cases. It is very simple and fast. It shouldn’t take you more than 10 minutes to get a quote on Progressive’s website.
Pros
- Progressive offers coverage to almost all vehicles
- You can change your policy seasonally if you wish
- Discounts are available
- Largest auto insurer in the US by market share
- Does not discriminate against drivers
Cons
- Progressive may not offer insurance to companies with over 20 vehicles
- Prices may be higher than others.
biBERK: Low-cost commercial auto insurance
biBERK is a direct insurance company that assists small business owners in protecting their companies. The company is affiliated with Warren Buffett’s Berkshire Hathaway. With biBerk, you can buy your commercial insurance online within minutes and get immediate coverage. The company claims to even offer up to 20% less than you get with other insurers.
Pros
- Generate quotes in minutes online
- biBERK benefits from Berkshire Hathaway’s rich wealth of experience.
- Professional and friendly support
- You can make claims online
Cons
- Not available in all states
- Their coverage limit may not be as high as in the standard policies
THREE: Comprehensive business insurance policy, including commercial vehicle coverage
Three is one of the business insurance brands owned by Berkshire Hathaway. Three strives to offer simple, easy-to-read commercial auto coverage to small-business owners in a single, three-page policy. Three’s key selling point is its simplicity. The insurance is designed in simple language and provides coverage against many hazards. It may be suitable for company owners who need comprehensive coverage but do not wish to purchase or administer several policies.
Pros
- Helpful agents can help if you have issues
- Comprehensive coverage
- Easy to read policies
- Bundled policies at discounted prices
Cons
- You have to buy commercial auto insurance as part of business insurance
Simply Business: Brokers make comparing several quotes easy
Simply Business is an online insurance agency and marketplace. As an agency, they make it easy for small businesses to compare several commercial auto insurance quotes. They work with more than 20 insurance companies and are able to get quotes from these companies for you to compare.
Pros
- Compares free small-to-medium enterprise insurance quotes from top insurers
- Obtain customized coverage within ten minutes
- Superior customer service from authorized agents
- Helps companies find the cheapest
Cons
- No online claim submission
- No mobile app
Where to get commercial auto insurance quotes online?
When you are ready to get your insurance quotes, there are two options for you in a broad sense. You can go to the insurers themselves for quotes, or you can find quotes online through online insurance brokers.
Getting commercial auto insurance quotes from the insurers
Insurers are the direct supplier of commercial auto insurance coverage. Depending on the company, they may offer their quotes online via their website or offline through agents. In some cases, insurance companies may use a combination of the two.
The main benefit of going directly to the insurer is that it helps you avoid intermediaries. However, this option limits you to only one insurer. In reality, there may be better options that offer better protection at better prices than the company you choose.
Also, this option works well with people who already understand insurance and can decide on their own which company is the best. For people, however, who may be new to commercial auto insurance, this option may not work.
Getting commercial auto insurance quotes from online insurance brokers
Online insurance brokers do not sell insurance policies; instead, they assist their customers in finding the right policy and generating quotes.
Online Insurance brokers represent insurance purchasers, serving as their advocates. They employ their experience and skills to evaluate your circumstances and guarantee that your insurance policy will meet your requirements.
A broker’s service is individualized and trustworthy. Because a broker serves you rather than a single insurance company, you can trust that the information and advice you get will be objective.
An insurance broker is familiar with the prices and alternatives provided by many insurance companies, as well as a wealth of insurance industry expertise.
Because a broker is not required to promote a specific insurance company’s product, they may supply you with various choices and locate the most advantageous conditions.
However, since brokers are often compensated based on commission, this may impact their proposed insurance. But then, not every insurance broker provides the same level of service quality; some brokers do well to recommend good policies. Therefore, you may choose to look around before selecting a brokerage.
Learn more at the best brokers for commercial auto and commercial truck insurance
How to find cheap commercial auto insurance quotes online?
Depending on the nature of your firm, commercial vehicle insurance may quickly become quite expensive. There are, fortunately, things you may do to reduce your yearly insurance payments.
Below are a few tips to reduce your business car insurance premiums. Being a wise business owner entails not just doing what is best for your company but also what is best for your finances. It is essential to learn about all the techniques to save money.
Learn more where to find cheap commercial auto insurance
Compare commercial automobile insurance policies
The easiest approach to discovering the most attractive pricing is to request and compare quotations from many businesses. There is no way of knowing whether an insurer would be the most excellent match for you.
In addition to comparing pricing, it is essential to compare policies. One price may appear great, but its coverage may be lacking. In the case of an accident, you want coverage from your insurance. When selecting an insurance policy, it is essential to be a discerning consumer.
Keep a clean driving record
The driving histories of both you and your workers will be considered when determining your yearly rates. This is comparable to personal automobile insurance. Your driving record informs insurers of the level of danger you pose on the road.
Insurance rates are typically cheaper for safer drivers. Therefore, it might be prudent to recruit drivers with impeccable records.
Obtain discounts on commercial auto insurance
Depending on your insurance carrier, you may be eligible for specific discounts. Some carriers provide a commercial driver’s license discount that allows new customers to save on premiums.
In some other places, commercial auto policyholders who have been in business for a particular number of years may be eligible for a business experience discount. Some others offer discounts for card payments.
Ideally, you want to learn about the many discounts the insurer has. If they are not included on the insurance provider’s website, contact your insurance agent about them.
When it comes to a situation such as this, insurance agents are specialists in the sector and may be of great assistance.
Driver training programs
After you have recruited your staff, it may be advantageous for them to complete a driver education course. Regardless of their driving history, a driver’s education course may teach your employees how to be safe and intelligent drivers. Eventually, safe driving will presumably result in fewer claims.
If you have fewer claims, your premiums will not rise. This is not an instant rate reduction like insurance policy reductions, but it may be worthwhile to ensure that only safe drivers represent your organization.
Combining insurance policies
You might save even more money by combining your insurance coverage. Business owners and landlords are often obliged to carry a variety of insurance coverage.
When purchasing insurance for your business, you may be able to get many policies from a single provider. In exchange, suppliers may give you a discounted cost. This might be accomplished by combining your commercial car insurance with your company owner’s or landlord’s policy. This just indicates that both policies are held with the same insurance provider.
Learn more who has the cheapest commercial auto insurance quotes
Which information do you need to get commercial auto insurance quotes online?
For the procedure to proceed as smoothly as possible, it is helpful to have the following information readily available:
- The fundamental specifications of your business vehicles, including make, model, and manufacturing year
- Annual mileage forecast for each vehicle
- How automobiles are used (e.g., if they are driven on weird terrain or transport crazy stuff like hazardous materials)
- Who will each car be transporting? For instance, will it be just your employees, or will there be other non-employee passengers?
- Ages of all drivers who will operate the automobile (s)
- A record of any current/previous business insurance
- Your place of business and where the vehicle(s) will be kept while not in use.
- The kind of insurance coverage you need, as well as any optional coverage you may choose (i.e., towing or roadside assistance)
- Credit ratings for all vehicle occupants
- Accident data for all vehicle drivers
How insurance companies calculate commercial auto insurance quotes?
They begin by conducting an analysis of a variety of risk indicators included inside a rating manual, each of which is assigned a numerical value that corresponds to a cost.
Things like your age, gender, location, and so on may all be considered risk factors since they might raise the likelihood of you needing to file a claim.
The cost of the risk variables may be assessed in one of two ways: either via investigations of historical patterns or through analytical models (essentially, very scientific and mathematical material).
After checking all the characteristics that pertain to you and your vehicle, the company will then issue you a quote.
