Best Commercial Auto Insurance Companies in USA : Any firm that owns and runs vehicles, from an independent plumber with a single van to businesses with big fleets, must take commercial auto insurance into account.
Finding the type of policy that best suits your company’s needs can be complex and challenging because a wide range of providers offers business vehicle insurance.
AdvisorSmith looked at a variety of variables, including financial strength ratings from AM Best and Standard & Poor’s, customer satisfaction data from several J.D. Power studies, complaint ratings from the National Association of Insurance Commissioners, available features and options, and the availability of information and the usability of the insurers’ websites, to determine the best commercial auto insurance companies.
We gave each insurer a score of five, and we only counted businesses with a score of 3.5 or higher.
Best Commercial Auto Insurance Companies in USA
1. Progressive Commercial
One of the best commercial auto insurers in the country, Progressive Business has a track record of insuring commercial vehicles.
Progressive has a Standard and Poor rating of AA and an AM Best rating of A+.
Progressive is dependable and reasonably priced for business owners, offering customizable coverage for cars, trucks, and trailers.
Additionally, Progressive provides Snapshot ProView, a program that encourages users to adopt safe driving practices and rewards them with lower rates.
Free fleet management tools are also available to companies with three or more vehicles.
For-hire truckers who utilize an electronic logging device receive comparable benefits from the Smart Haul program. ( Best Commercial Auto Insurance Companies in USA )
Pros
- Reliable and affordable
- Offers a variety of coverage options
- Pricing is based on your specific needs
- You can get a quote online
- Coverage can start quickly
Cons
- Not great customer satisfaction ratings
- Not available in all states
- Missing some types of coverage you may need to protect your business
2. Liberty Mutual
One of the world’s most significant property and liability insurers, Liberty Mutual, has obtained A ratings from AM Best and Standard & Poor’s.
The company Liberty Mutual was rated above average in J.D Power’s customer satisfaction research for small commercial customers and offered several commercial products that are specifically geared toward small enterprises.
Commercial customers of Liberty Mutual can take advantage of risk control services that give drivers safety instructions.
There are technologies to track drivers’ habits using telemetry data for larger fleets.
Additionally, Liberty Mutual has an app that allows you to send pictures of damaged cars and get an estimate. ( Best Commercial Auto Insurance Companies in USA )
Pros
- Wide range of coverage options
- Industry-specific solutions
- The financial strength of a large company
- Competitive pricing, depending on the company size
Cons
- Premiums could be a bit pricey
- You can’t get online quotes
- No chat option on the website
3. The Hatford
A+ ratings from AM Best and Standard & Poor’s have been given to The Hartford, a well-known commercial insurer. The Hartford provides services like reviews of your company’s driving histories and advice on ways to increase safety. The Hartford’s FleetAhead service may be able to help you find potential accident causes and help you reduce insurance premium rates if you use telematics equipment. ( Best Commercial Auto Insurance Companies in USA )
4. Geico
Geico has received ratings of AA+ from Standard & Poor’s and A++ from AM Best, indicating its financial standing is excellent.
In J.D. Power’s most recent study of large commercial insurers, the parent firm of the insurer came in second. At the same time, J.D. Power’s assessment of 2020 U.S. auto insurance claims satisfaction came in thirteenth.
Geico offers easy-to-use online vehicle insurance quotes and access to policies.
It can tailor plans for fleets of any size and covers most vehicle types, including cars, vans, and trucks; semi-trucks and tractor-trailers are not included.
Geico provides combined single limits for liability coverage in addition to the majority of the standard options for auto insurance coverage.
This kind of policy provides a single limit that provides the same amount of coverage for an occurrence, independent of property damage or injuries, rather than having different limits (maximum amounts of money that the insurer will pay for a single claim). ( Best Commercial Auto Insurance Companies in USA )
Auto Owners
AM Best has assigned Auto-Owners Insurance a financial strength rating of A++. In J.D. Power’s 2020 report on satisfaction with vehicle insurance claims, the company had good customer satisfaction scores, placing third.
It’s crucial to know that only 26 states currently offer auto-owners insurance. You must speak with an independent agent to request a quote from Auto-Owners, as the firm only operates through independent agents. Newly purchased vehicles are automatically covered under Auto-Owner’s plans. Roadside assistance coverage, loan or lease gap coverage, and other alternatives are available as part of policies.
Auto-Owners Insurance provides a variety of discount choices, including reductions for businesses that have several policies with the insurer, fully paid policies, and fleets under telematics monitoring. Vehicles used for farming are also eligible for seasonal discounts. ( Best Commercial Auto Insurance Companies in USA )
Source: Infoghmedia
