TOP COMMERCIAL TRUCK INSURANCE COMPANIES

OOIDA

Owner-Operator Independent Drivers Association (OOIDA) is one of the industry’s most trusted associations for everything trucking – not just insurance.

But the company does offer low-cost options to drivers and has done so since the mid-1970s.

The company offers two main tiers of insurance:

Owner-Operators with Authority

If you have authority over your truck, you can secure insurance under this classification. This coverage provides:

• Primary Liability (FMCSA requires $750,000 coverage)
• Commercial General Liability
• Motor Truck Cargo
• Physical Damage
• Passenger accident

You’ll be able to adjust your coverage limits accordingly to your needs.

For Leased Owner-Operators

If you’re currently leasing a truck, you’ll need coverage that is a little different and provides further protection to safeguard you against liability claims. Coverage offered includes:

• Physical damage
• Unladen liability
• Bobtail liability
• Non-trucking liability
• Passenger accident

And there are several optional coverage options that can be added to either policy. These optional coverage options include:

• Downtime coverage
• Limited depreciation coverage
• Gap insurance
• Trailer interchange
• Personal property
• Rental reimbursement
• Supplemental towing and clean up
• Roadside breakdown coverage

All of the optional components will add to your overall premium, but they’re well worth the cost in most cases.

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GREAT WEST

Great West is all about the experience, and the company has over 50 years of experience helping policyholders. Insuring semi-trucks, the company offers a wide range of coverage options.

Base Policies

The base policy provides coverage that trucks of all types need:

• Auto liability
• Cargo
• General liability
• Garagekeepers
• Physical damage
• Inland marine
• Workers compensation
• Umbrella

As you can see, some of the options are geared towards company owners and other specialties.

Owner-operator Specific Options

Owner-operators have special needs, and as a result, there are several coverage items that are provided to owner-operators specifically:

• Lease/finance reimbursement
• Occupational accident
• Rental reimbursement
• Downtime
• Equipment coverage

The company does provide online quotes and will contact you about coverage options and concerns.

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PROGRESSIVE COMMERCIAL

Progressive is one of the most prominent insurance companies in the United States, and the company provides insurance policies designed for truckers. You’ll find that Progressive offers insurance for trucks of all kinds, including:

• Box trucks
• Flatbeds
• Semis
• Front loaders
• Garbage trucks
• Tractors
• Tank trucks
• More

Three main insurance options are offered:

Owner Operator Insurance

Under this policy, you’ll be able to get insurance for leases and own authority trucks. Coverage includes:

• Non-trucking liability insurance
• Physical damage coverage
• Motor truck cargo insurance

The above is within the permanent lease option. If you fall within the own authority option, you’ll be able to choose:

• Liability insurance
• Physical damage coverage
• Motor truck cargo insurance
• Motor truck general liability insurance

Motor Carrier Insurance

The following options are available:

• Non-trucking liability insurance
• Physical damage coverage
• Medical payments insurance
• Uninsured motorist insurance
• Motor truck cargo insurance
• Bodily injury insurance
• Property damage coverage

Private Carrier Insurance

If you’re using your own truck to haul goods for an employer or your own company, private carrier insurance is recommended. This insurance includes:

• Liability insurance
  • Property damage liability
  • Bodily injury liability
• Physical damage
• Medical payments insurance

Progressive Commercial further offers other options for optional coverage that is needed on a per-circumstance basis.

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1ST GUARD

A trucking specialization company, 1st Guard Commercial deals with just trucking insurance, so the company’s policies are often tailor-made to your specific needs. The company is better able to accommodate the needs and concerns of their policyholders as a result.

The company offers three product packages for truckers:

PD Insurance (Physical damage)

Physical damage coverage ensures your truck is covered in the event of an accident. Your vehicle is covered whether it’s driven for business or personal use. Coverage includes:

• Extended towing
• Downtime
• Loan gap
• Emergency expense reimbursement
• Truck rental reimbursement
• Contents
• No deductible glass
• Roadside assistance
• Traps, chains and binders

NTL Insurance (Non-Trucking Liability)

A unique insurance that acts as a form of limited liability coverage when permanently leasing a truck.

Occupational Accident Insurance

Coverage for owner-operators for work-related injuries that may occur.  This insurance also has the options for:

• Worker’s compensation insurance
• Passenger accident insurance

You’ll be able to get a personalized quote right on the company’s website.