Best Commercial Car Insurance Companies (2022)
Some of the best companies for commercial car insurance include Progressive, Nationwide, Liberty Mutual, and more. Commercial car insurance generally offers similar coverage to personal car insurance but may have additional benefits or coverages. The best companies for commercial car insurance will provide affordable rates, excellent customer service, discounts, and more.
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UPDATED: Aug 3, 2022
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- Some of the best companies for commercial car insurance include Progressive, Nationwide, Liberty Mutual, and more
- Commercial car insurance covers many of the same types of expenses as personal car insurance but may have added benefits or coverages
- Many businesses can get commercial car insurance quotes between $800 and $1,200 per vehicle per year
If you are self-employed or own a business that requires using a vehicle for business purposes, you may be wondering how commercial car insurance works and where you can find the best coverage.
You must buy the right kind of coverage instead of relying on personal car insurance or no coverage at all. Find a list of the best companies for commercial car insurance below.
Enter your ZIP code into our free quote comparison tool above to find an affordable commercial car insurance company near you.
What are the best companies for commercial car insurance?
Major car insurance companies are increasingly offering commercial car insurance and policy options that can be used by small and large businesses alike. Below are some of the best companies for commercial car insurance.
Progressive offers some of the best overall commercial auto insurance. Coverage includes liability, physical damage, personal injury, medical expense, and uninsured/underinsured motorist coverage for various business vehicles.
Progressive allows businesses to make seasonal changes to their policy, which is beneficial for seasonal businesses. It also provides fleet management tools for companies with at least three vehicles. However, Progressive will not cover businesses with more than 20 vehicles.
Nationwide provides a variety of coverage types and levels with deductibles as low as $0. You can insure many vehicles, but Nationwide does not offer coverage for semi-trucks or tractor-trailers.
You can find information and quotes for Nationwide online, but you will have to work with an insurance agent if you want to buy a policy. Additional benefits include new car replacement, rental reimbursement, and GAP coverage if you have financed vehicles.
Liberty Mutual is highly ranked for its small business auto insurance. It has a solid financial reputation, and it has excellent customer service for its small business customers.
Liberty Mutual provides risk control services, such as driver safety training, large fleet monitoring, and an easy-to-use app for damage estimates.
Farmers is an excellent choice for commercial car insurance, especially for businesses that only need to insure one vehicle. Farmers provides a wide variety of coverages, including specialized coverages for different industries.
The company does offer some discounts to reduce your rates, but you may find more from other companies. However, Farmers makes up for this with its excellent customer service and an excellent mobile app.
While Auto-Owners is only available in 26 states, its customer service has made it a highly rated company for commercial auto insurance. Some of its policy options include roadside assistance, gap coverage, and more.
Some of the discounts available from Auto-Owners include multi-policy discounts, paid-in-full discounts, fleet telematics discounts, and seasonal discounts for farming vehicles.
The Hartford provides a large number of extra benefits for businesses insuring five or more vehicles. It offers many discounts, GAP coverage, downtime loss coverage, electronic device coverage, and deductible waivers for glass repair and situations which require claims against two policies.
The Hartford’s FleetAhead program includes electronic devices used for each vehicle that encourages safe driving, helps more easily manage accidents, and provide extra discounts.
State Farm provides some of the best customer service with fewer complaints than average. Its policy options are similar to other companies, but it does offer a few advantages that other companies may not.
For example, you may have the option of extending your liability coverage to personal vehicles if an employee is in an accident while they’re driving for business purposes. State Farm also offers rideshare coverage for drivers who can’t afford a full commercial policy.
GEICO is a good provider of basic commercial car insurance. It provides coverage for a variety of types of vehicles, excluding semi-trucks and tractor-trailers. It also provides coverage specifically for rideshare drivers and others who transport people.
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What does commercial car insurance cover?
Similar to personal car insurance, different types of commercial car insurance cover various incidents. In general, there are coverages for liability and property.
Commercial liability coverage includes bodily injury liability, property damage liability, and pollution coverage. Bodily injury will cover injuries to other parties in an at-fault accident, while property damage will cover damages to another party’s property in an at-fault accident.
Pollution coverage will cover expenses if a vehicle leaks pollutants, such as gasoline or other automobile fluids, or chemicals or materials that are being transported.
Property damage coverage will cover the value of your vehicle(s) in case they are damaged or need to be replaced. Collision coverage will cover damage caused by an accident, while comprehensive coverage covers damage caused by situations generally not under the owner’s control.
How much does commercial car insurance cost?
In many cases, commercial car insurance rates can vary between $800 and $1,200 per vehicle per year. Let’s take a look at some of the average commercial car insurance rates by vehicle type:
|Car Type||Minimum Annual Commercial Auto Insurance Rates||Maximum Annual Commercial Auto Insurance Rates|
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Many different factors can affect the cost of your commercial auto insurance. Your location, industry, vehicle type, and the size of your fleet are all significant factors. In addition, the value and use of your vehicle(s) will also affect how much you have to pay.
How much commercial car insurance do I need?
Most commercial vehicles will have to meet at least the state’s liability and other insurance requirements:
|State||Insurance Required||Minimum Liability Required Limits|
|Alabama||BI & PD Liab||25/50/25|
|Alaska||BI & PD Liab||50/100/25|
|Arizona||BI & PD Liab||15/30/10|
|Arkansas||BI & PD Liab, PIP||25/50/25|
|California||BI & PD Liab||15/30/5|
|Colorado||BI & PD Liab||25/50/15|
|Connecticut||BI & PD Liab, UM, UIM||25/50/20|
|Delaware||BI & PD Liab, PIP||25/50/10|
|District of Columbia||BI & PD Liab, UM||25/50/10|
|Florida||PD Liab, PIP||10/20/10|
|Georgia||BI & PD Liab||25/50/25|
|Hawaii||BI & PD Liab, PIP||20/40/10|
|Idaho||BI & PD Liab||25/50/15|
|Illinois||BI & PD Liab, UM, UIM||25/50/20|
|Indiana||BI & PD Liab||25/50/25|
|Iowa||BI & PD Liab||20/40/15|
|Kansas||BI & PD Liab, PIP||25/50/25|
|Kentucky||BI & PD Liab, PIP, UM, UIM||25/50/25|
|Louisiana||BI & PD Liab||15/30/25|
|Maine||BI & PD Liab, UM, UIM, Medpay||50/100/25|
|Maryland||BI & PD Liab, PIP, UM, UIM||30/60/15|
|Massachusetts||BI & PD Liab, PIP||20/40/5|
|Michigan||BI & PD Liab, PIP||20/40/10|
|Minnesota||BI & PD Liab, PIP, UM, UIM||30/60/10|
|Mississippi||BI & PD Liab||25/50/25|
|Missouri||BI & PD Liab, UM||25/50/25|
|Montana||BI & PD Liab||25/50/20|
|Nebraska||BI & PD Liab, UM, UIM||25/50/25|
|Nevada||BI & PD Liab||25/50/20|
|New Hampshire||FR only||25/50/25|
|New Jersey||BI & PD Liab, PIP, UM, UIM||15/30/5|
|New Mexico||BI & PD Liab||25/50/10|
|New York||BI & PD Liab, PIP, UM, UIM||25/50/10|
|North Carolina||BI & PD Liab, UM, UIM||30/60/25|
|North Dakota||BI & PD Liab, PIP, UM, UIM||25/50/25|
|Ohio||BI & PD Liab||25/50/25|
|Oklahoma||BI & PD Liab||25/50/25|
|Oregon||BI & PD Liab, PIP, UM, UIM||25/50/20|
|Pennsylvania||BI & PD Liab, PIP||15/30/5|
|Rhode Island||BI & PD Liab||25/50/25|
|South Carolina||BI & PD Liab, UM, UIM||25/50/25|
|South Dakota||BI & PD Liab, UM, UIM||25/50/25|
|Tennessee||BI & PD Liab||25/50/15|
|Texas||BI & PD Liab, PIP||30/60/25|
|Utah||BI & PD Liab, PIP||25/65/15|
|Vermont||BI & PD Liab, UM, UIM||25/50/10|
|Virginia||BI & PD Liab, UM, UIM||25/50/20|
|Washington||BI & PD Liab||25/50/10|
|West Virginia||BI & PD Liab, UM, UIM||25/50/25|
|Wisconsin||BI & PD Liab, UM, Medpay||25/50/10|
|Wyoming||BI & PD Liab||25/50/20|
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On top of this, if your business carries products or people over state lines, you will need to meet the insurance requirements from the Federal Motor Carrier Safety Administration.
In some states, there may be ways to avoid purchasing insurance by meeting the financial obligation of car insurance. For example, you may be able to make a cash deposit with the DMV, file a Certificate of Self Insurance, or other options allowed by your state.
If you need to buy commercial car insurance, enter your ZIP code into our free quote comparison tool below.