Commercial Truck Insurance: Finding the Perfect Policy

by | Sep 27, 2022 | Financial Advice, Insights To Business

Listen Now

Top Commercial Truck Insurance Companies in the US

Commercial truck insurance is specialized insurance covering commercial trucks and other vehicles used for business purposes. It protects against losses resulting from damage to or destruction of any part of the vehicle, bodily injury or property damage sustained by any person, loss or theft of articles in the vehicle, a collision between vehicles including their loads and other motor vehicles not owned or operated by the insured, fire and explosion damage to or destruction of a vehicle caused by external forces such as lightning.


Insurance is a necessity for any company that operates commercial trucks. Truck insurance protects the trucking company, its drivers, and its customers. It also covers damage to or theft of commercial vehicles. Companies that operate commercial vehicles need adequate protection against their liability due to accidents involving their fleet or leased trucks. The purpose of commercial vehicle insurance is to protect both the trucking company itself and its employees in case of an accident involving a third party (the owner/operator) or product liability cases brought by others injured by one’s negligence on the roadways or work site.

Cost of Coverage

One of the most important factors to consider when shopping for commercial truck insurance is how much you’ll pay in premiums. The amount varies greatly between providers and even more so between companies within a single provider, so it’s imperative that you do some research into the pricing before making a decision. First, let’s talk about annual costs. On average, a commercial trucker will pay anywhere from $3,500-$5,000 per year to have their vehicle insured by one of these four companies (and that’s not including any other insurance they may need). Thus, this range may be just fine for your budget; however, if you’re someone who runs their own company and needs coverage daily, this might not seem like enough money! You need to understand your business. An extremely high risk is involved with transporting flammable materials or precious products.

Eligibility Criteria

To qualify for a commercial insurance policy, you must meet the following requirements:

  • You must have a valid driver’s license and vehicle registration.
  • Your truck must be less than ten years old. Your truck should not have any accidents on record within the past three years. In some cases, you may be able to get coverage for older trucks if there use is for specific purposes like hauling livestock or agricultural goods.

Berkshire Hathaway

Berkshire Hathaway Commercial Truck Insurance offers personal and commercial policies to drivers in all 50 states. The company provides a variety of customizable plans and coverage to meet the needs of your business. In addition to standard auto insurance discounts, Berkshire Hathaway Commercial Truck Insurance offers additional incentives for drivers who meet specific requirements.


Nationwide is one of the largest insurance companies in the country. It offers a variety of commercial truck insurance policies and discounts, including:

  • Single policy discounts
  • Deductible waivers Flat rate deductibles

Nationwide commercial truck insurance also offers coverage options that include:

  • Comprehensive collision and liability coverage (the same as personal auto insurance)
  • Medical payments to cover injuries sustained by pedestrians or passengers in an accident caused by your vehicle

Hartford Insurance

Hartford Commercial Truck Insurance is a subsidiary of The Hartford Financial Services Group, Inc. Hartford Commercial Truck Insurance provides coverage to commercial trucks, including tractors and trailers, and other vehicles such as buses, limousines, and school buses.

Pros and Cons of Commercial Truck Insurance

If you’re considering purchasing commercial truck insurance, it’s essential to understand the pros and cons. The fact that they are expensive is one of the most significant downsides. However, there are many benefits to having this type of policy in place. If you’re running a business that depends on trucks for transportation or delivery, then insurance can be pretty valuable for insuring what could potentially be a costly investment. It may also be helpful if your vehicle is used for personal and work-related purposes because it may offer coverage for both areas. Trucking companies and drivers who are looking for commercial insurance can find many options available to them. Each of these companies has unique coverage options and rates that may suit your needs better than others. If you need additional assistance with help finding the commercial truck policy, contact Small Business Funding. We are certain one of our business partners can assist.