Choosing a commercial auto insurance company or agent should be based on items such as stability, service, and price. Often agents or providers will offer different programs and policies from several insurers.

The price of the policy can vary from one insurer to the next and yet the coverage is the same. Check with several insurers before choosing the best policy. Once you’ve compared the pricing, check to make sure the insurance company is stable. You can do this by checking insurance rating at services like A.M. Best. You want a company with a rating of B+ or better.

Check reviews and the better business bureau to insure the insurance company holding your policy has an excellent customer service rating. You will also need to ensure that the company you choose has a brick and mortar location and is registered to sell insurance in your state. You can check this out by searching your state’s insurance department online. They should have a website that provides this information.

Understand Policy Options

Once you’ve chosen a couple of insurance companies, make sure you have the agent or brokers explain policy options that may benefit your business. For instance:

  • There are sometimes ways to combine vehicle deductibles on your commercial insurance if your business insures multiple vehicles. A single deductible endorsement allows you to pay only one deductible if a catastrophe occurs, taking out several of your commercial vehicles. Having this endorsement allows you to only pay one deductible, instead of one for each vehicle.
  • Or you may want to pursue unlisted vehicle coverage as an option if you need to expand your commercial insurance policy protection to vehicles you rent, or even to employee vehicles, if they use them for work. This may be advantageous for food delivery companies.
  • If your business is a sole proprietorship, you may benefit from an individual named insured endorsement. This endorsement works when you, your spouse, or related members of your household use rented, leased, or borrowed vehicles for business or commercial use.

Commercial Auto Insurance Providers

You may want to consider choosing a company that has been in business for at least ten years, they may not provide the cheapest premium, but they typically offer additional services that make up for the difference in cost. Some of the established insurance companies that offer commercial auto insurance include:

  • Progressive – Which offers not only commercial auto insurance through agencies and brokers, but they also provide commercial auto loans. This company was founded over sixty years ago.
  • GEICO – Not many realize that GEICO started as the Government Employees Insurance Company. It is now open to insure anyone in all fifty of the United States. GEICO has been in business for seventy-five years.
  • Liberty Mutual – Is another company with almost ninety years of experience. They also provide personal auto, life, and home insurance.
  • AIG or American International Group – Has operations in the US and over one hundred other countries. This world leader offers insurance as well as retirement plans, asset management, and other financial services.
  • Safeco Insurance – is available through a network of agents and brokers that stretches across the United States. They have been in business since 1923.
  • Mercury Insurance Group – has been offering affordable commercial insurance products for over forty-five years.
  • Nationwide – Began in 1925, but changed the name to Nationwide in 1955. This company is one of the largest commercial insurance providers in the world.
  • AAA Insurance – Is actually a non-profit lobby group offering car insurance. This American Automobile Association was founded over a hundred years ago and they can help you find an agent for commercial auto insurance.

These aren’t the only good insurance companies available that provide commercial auto insurance. There are others available that can provide the service and coverage that you need for your business.

Summary

Finding the best commercial auto insurance company can take a little research. You want a company that is registered and has a physical presence in your state, who has a good rating, and who has been in business for at least ten years. The big players in the industry include companies like Progressive, GEICO, and Nationwide. You can start your search by going online and getting several competitive commercial insurance quotes at one time. This can be done here.

It is important that your agent or broker understand your business and what you use the vehicles for in order to give you the best quote and talk to you about commercial insurance options that will benefit your business. The more they know about you and your business, the more they can make suggestions on ways to keep the costs down and increase coverage on your commercial vehicles. Sometimes combining a commercial policy with other insurance policies can also bring your company savings.