Commercial vehicle insurance is really important especially for companies whose operations rely on vehicles. This kind of insurance protects against liabilities, damages, and other risks that personal auto insurance does not address. This article will provide detailed explanation of several commercial vehicle insurance companies.

1. Progressive

Progressive is the right choice when you’re looking for the best commercial auto insurance companies. Thisinsurance company provides so many coverage options, such as medical payments, liability, physical damage, and personal injury.

Progressive is known for offering affordable pricing.The average monthly premium for is approximately $147.The actual rates can vary based on several factors like the type of business, vehicle, and coverage.

2. NEXT Insurance

Focusing on serving small businesses, NEXT Insurance is a newer entrant to the commercial vehicle insuranceindustry. Utilizing cutting-edge technology, the company customizes policies to meet the unique requirements of every company, resulting in premiums up to 25% lower than those offered by competitors.

NEXT’s policies include standard coverages like medical costs, property damage, underinsured drivers, collision, and towing. Although the premium of NEXT’s commercial auto insurance varies, many clients pay less than $150 a month. For many small businesses,premium amounts is less than $1,800 annually.

3. BiBERK

Businesses with high-risk drivers are advised to consider biBERK, a Berkshire Hathaway company. BiBERK was established in 2015 and operates primarily online, which enables it to cut expenses and provide policies that are up to 20% cheaper than many competitors.

The company offers a variety of standard coverages, including collision, uninsured motorist, medical payments, property damage, and bodily injury insurance. BiBERK offers commercial vehicle insurance at an average monthly rate of $147, which is comparable to the industry average but could be even less for companies with fewer vehicles or risks.

4. Farmer Insurance

One of the top ten biggest insurance providers in the US, Farmers Insurance Group, is particularly well-suited for contractors. Farmers are great at providing contractors with specialized options that go beyond the usual coverages. They offer protection for tools and equipment, as well as coverage for subcontractors when required by indemnity agreements.

The exactpremium of Farmers commercial auto insurance is decided case-by-case. But the average monthly premium is usually around $147.The amount can change depends on the type of business and how much coverage is needed.

5. Geico

For companies that provide ridesharing and livery services, Geico is a great option. Geico offers a hybrid rideshare policy that keeps drivers covered throughout all stages of ridesharing.Start from waiting for passengers, picking them up, and then driving them to their destinations.

Geico’s policy includes coverage for liability, property damage, and injuries to both drivers and passengers. Geico offering competitive rates that average around $147 per month, along with a strong reputation for financial stability and customer satisfaction.

In conclusion, there’sa lot of commercial vehicle insurance companies available to businesses, each with special features and cost plans. By comparing these providers, business owners can find the best coverage to protect their vehicles and support their operations.

Source:
1. https://www.forbes.com/advisor/business-insurance/best-commercial-auto-insurance-companies/
2. https://constructioncoverage.com/commercial-auto-insurance