Best Commercial Auto Insurance: Protect Your Business Assets

Commercial auto insurance is a type of insurance policy that covers vehicles used for business purposes, including cars, trucks, and vans. It is designed to protect businesses from financial losses due to accidents, liability claims, or vehicle damage. Commercial auto insurance is typically more expensive than personal auto insurance because business vehicles are considered to have a higher risk of damage. The best commercial auto insurance company will provide sufficient financial protection against liability claims and damage to property and offer policies tailored to specific industry or professional needs.

Best Overall: Progressive

Progressive is a trusted and highly-rated commercial auto insurance company in the US. It is currently the No. 1 commercial auto insurer in America, with an A+ rating from A.M. Best. Progressive insures a wide variety of commercial vehicles, including cars, pickup trucks, vans, trailers, SUVs, semi-trucks, dump trucks, tow trucks, and more.

Progressive stands out for its technology offerings, with highly-rated mobile apps available for its customers. The company also has an extensive network of truck repair shops and specialty claims services, accessible for those driving locally or outside of their home state.

Progressive offers 24/7 policy service by phone or online, adjustable coverages, flexible billing and payment options, and highly-trained commercial claims adjusters.

The company provides special benefits, including custom policies, competitive rates, discounts, and exceptional claims service. Several factors can affect the cost of a Progressive commercial auto insurance policy, including profession, coverage needs, vehicles, location, and driving history.

Progressive Commercial has customizable coverage options, including primary liability, uninsured motorist, and more, to keep payments down and your business protected.

Best for Large Fleets: Sentry

If you are looking for commercial auto insurance for a large fleet of vehicles, Sentry is one of the foremost providers available. Sentry is a relatively unknown company as it does not provide personal auto or home insurance. However, it offers business insurance, including commercial auto insurance, to large organisations with fleets of vehicles.

Sentry designs its policies to meet a company's specific needs based on the industry it operates in, the vehicles its employees use, and how they are used. The company does not offer an online quoting tool, so you will need to contact Sentry and work with an agent to discuss your needs before receiving a quote.

Sentry provides liability, property damage, and non-trucking liability coverage. It has an A+ (Superior) rating from AM Best.

Best for Construction and Contractors: Farmers

Farmers Insurance Group is one of the top 10 largest insurance companies in the United States and is a great option for contractors. Founded in 1928 in downtown Los Angeles, Farmers initially provided coverage to rural farmers in California. Over the years, it has grown and evolved to become one of the most diverse and accommodating insurance companies in the nation.

Farmers offer a broad range of coverage options that can be tailored to meet the unique needs of contractors. Their commercial car insurance policies can be adjusted based on the specific requirements of your business while covering essential components like liability, personal injury, non-owned auto, uninsured and underinsured motorist, and more.

One of the standout features of Farmers is their ability to help you identify other forms of coverage that your business might need. They can assist in developing a comprehensive package of commercial insurance coverage to protect you from a variety of risks. This includes coverage for expensive tools and equipment transported in your vehicle, demonstrating their expertise in the area of commercial auto insurance for contractors.

In terms of financial strength, Farmers have good to excellent ratings. They have been issued A, A3, and A financial strength ratings by AM Best, Moody's, and S&P, respectively. In the J.D. Power 2024 U.S. Insurance Shopping Study, Farmers scored 667 out of 1,000, placing them competitively with other leading companies in the commercial auto insurance market in terms of customer satisfaction. Additionally, Farmers holds an A+ rating with the Better Business Bureau.

With Farmers, you can rest assured that your contracting business is in capable hands. Their flexible policies, dedication to meeting your coverage needs, and strong financial standing make them an excellent choice for commercial auto insurance, especially for contractors. To get a quote and learn more about their offerings, you can contact a local Farmers agent or start the process online.

Best for Ride-Sharing: Progressive

If you're a driver for a ride-sharing company, you'll need special protection that isn't covered under your basic personal auto policy. This is where Progressive's rideshare insurance comes in.

Ridesharing companies like Uber and Lyft usually offer insurance protection once a driver logs into their app, but coverage might be limited until a ride request is accepted. A driver's personal policy will usually have coverage exclusions during this period, too. This is where Progressive's rideshare insurance can fill the gaps.

Progressive offers two ways to get this insurance:

• As a personal auto policy endorsement: Progressive customers can add a rideshare endorsement to their personal auto policy. This is likely your best option if the rideshare company doesn't require a commercial policy.
• As a commercial for-hire livery policy: This is a type of commercial auto policy for businesses that transport people, such as a luxury vehicle or taxi service.

The cost of rideshare insurance is generally higher under a for-hire livery policy, but you won't need a separate personal auto policy as this covers both business and personal use. Progressive offers for-hire livery insurance direct in 40 states.

Adding rideshare coverage to your Progressive auto policy gives you greater convenience and peace of mind. Here are some of the benefits:

• One policy, one payment: You can fill your ridesharing coverage gaps and still be covered for personal driving, all under one insurance policy.
• Extended coverages: You know your coverages apply while logged in and waiting for passengers.
• Deductible reimbursement: Progressive will reimburse you for the difference between the ridesharing company's insurance deductible and the deductible on your personal policy.

Progressive is the largest commercial auto insurer in the country, insuring a wide range of vehicles. The company has high ratings for its app, with nearly half a million customers giving it 4.6 stars on Google Play and 4.8 stars on the App Store.

Best for Most Drivers: Travelers

Travelers is the best commercial auto insurance provider for most drivers. The company has a long history, dating back to its founding in 1853, and boasts an outstanding industry reputation with an A++ financial strength rating from AM Best.

Travelers offers a broad commercial auto insurance product that covers company vehicles and liability for their use. This includes liability coverage for bodily injury and property damage to others, with limits of up to $1 million. Their policies also include physical damage coverage, collision coverage, and comprehensive coverage for various causes, including collisions with animals or birds, vandalism, hail, fire, and theft.

In addition, Travelers provides industry-specific coverage for commercial auto and fleet vehicles for sectors such as the public sector and oil and gas. Their Select Auto CoveragePlus® option includes enhancements like auto lease gap coverage, employee hired auto coverage, and blanket additional insured coverage.

With competitive rates, reasonable rates, and discounts for bundling different types of policies, Travelers is an excellent choice for commercial auto insurance, providing dependable coverage for personal and commercial vehicles.

Frequently asked questions