Top 11 Trucking Insurance Companies for 2024
As the backbone of the American economy, the trucking industry keeps goods flowing across the nation's highways day and night. However, it's important to realize that this lifeblood industry also faces many risks and challenges. Truckers can face unforeseen breakdowns, accidents, and legal risks. That's why having trucking insurance companies that are on their "A-game," is indispensable.
In this comprehensive post, we'll take a closer look at the top trucking insurance providers for 2023. Along the way, we'll evaluate their coverage options, industry expertise, customer service, and any additional resources to help you make the best decision for your business. Whether you're a seasoned trucker or brand-new to the scene, buckle up as we discover the leading insurance companies for truckers.
TL;DR
- Comprehensive coverage tailored to the trucking industry.
- Specialized expertise in understanding trucking risks and challenges.
- Dedicated customer service and claims handling for truckers.
- Additional resources like risk management, safety programs, and value-added services.
- Competitive pricing and strong financial ratings.
Top 11 Trucking Insurance Companies
- OOIDA Truck Insurance
- Roadex™ Truck Insurance
- Sentry Insurance
- Northland Insurance
- Great West Casualty Company
- Marquee Insurance Group (MIG)
- InsureMyRig.com
- Cottingham & Butler Transportation Group
- McGriff Insurance Services, Inc.
- HUB International
- Reliance Partners
Criteria Breakdown
In order to evaluate the top trucking insurance companies, we placed our focus on dissecting key criteria. This was done to ensure an in-depth assessment of these companies. The criteria used was chosen due to its significance in protecting the interests of carriers and owner-operators. The range of protections we analyze include:
- Liability
- Physical damage
- Cargo
- Specialized coverages
In our judgment, we were also very critical when looking at the insurance companies' financial strength. This is because a company's ability to pay claims is absolutely necessary. We examined the financial ratings of reputable insurance providers like A. M. Best to truly gauge each insurer's stability and long-term viability. We also gathered intel on each company's industry expertise. It's vital to recognize that seasoned insurers for trucking "know the ropes," and have a better understanding of the risks and challenges that carriers face. This enables them to offer solutions that are more tailored to the carrier along with unwavering support.
Customer service from the insurer also played a pivotal role in our judgment call for this list. The right customer service team will be there to handle claims in moments of crisis. They also make it easy for carriers to obtain certificates of insurance. It's inevitable that in an industry where timing means everything, the right customer service team will be knowledgeable and substantial enough to meet the needs of the carrier, without inconvenience and setbacks. We also assessed the cost of coverage. We looked for companies that offer competitive pricing without sacrificing quality or comprehensiveness. Additionally, we evaluated insurers that provide value-added services. This would include things like risk management resources, safety programs, and other tools to support truckers' success. With our comprehensive process, we aim to shine a spotlight on the best insurance companies for truckers in 2024.
Before moving on, we'd like to make you aware of the advice of the experts: Always thoroughly research these insurance companies as well as any customer service experiences before committing to a sole company.
Comparing the Best Trucking Insurance Companies
OOIDA Truck Insurance (Owner-Operator Independent Drivers Association)
Best known for pioneering insurance for owner-operators and relentless advocacy for truckers' rights. OOIDA Semi Truck Insurance has decades of experience serving owner-operators. They're a long-standing advocacy group that fights for the rights of small business truckers (and they've been doing so since 1973). When it comes to insurance for trucking, OOIDA was one of the first to offer affordable coverage.
Some things to keep in mind with OOIDA:
- They provide many policy options (liability, physical damage, and specialized coverage).
- Affordable rates for coverage with industry-specific options available.
Pros
- Decades of experience serving owner-operators.
- Advocacy efforts for truckers' rights.
- Tailored coverage options for owner-operators.
- Competitive rates and no hidden costs.
Cons
- Limited information on financial strength ratings.
- Mixed reviews on customer service.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 5/5
Community Reviews and Expert Recommendations
OOIDA Truck Insurance has many positive reviews from the owner-operator community. Most carriers appreciate affordable rates and industry-specific coverage options. However, some customers seem unhappy with the claims process and the responsiveness of customer service.
Price
With OOIDA, you have to become a member first. On average, the premium is around $5,500 per truck.
Roadex™ Truck Insurance
Effortless fusion of insurance, dispatch, and freight factoring, finely tuned to meet the unique needs of truckers. Trucking insurance companies like Roadex™ stand out by providing a service model for insurance that really aligns with the day-to-day realities on the road that truckers face. They're founded on the principle of "for truckers, by truckers." When it comes to insurance for trucking, Roadex™ leverages the firsthand experience of its founders and staff so they can deliver solutions that are practical and comprehensive.
Roadex™ Notables
- Commitment to cutting through industry red tape.
- Offering transparent pricing.
- Trucking insurance solutions tailored to make truckers' lives easier.
- Zero Down, Zero Deductible truck insurance options to reduce upfront cost.
- 24/7 Roadex™ customer service for support when you need it.
Pros
- Deep industry knowledge from a team with firsthand trucking experience.
- Transparent pricing and no hidden fees.
- Comprehensive service offerings that cover all aspects of a trucker's needs.
- Strong focus on customer service with support available 24/7.
Cons
- Limited information on specific insurance policy details and pricing without direct inquiry.
- Services may be more oriented towards smaller fleets and owner-operators than very large trucking enterprises.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 5/5
- Cost: 4/5
- Additional Services: 5/5
Community Reviews and Expert Recommendations
Roadex™ is highly regarded within the trucking community for its responsive customer service and wide-ranging coverage options. Customers note their convenience and attention to detail.
Price
For the total trucking insurance cost, request a quote.
Sentry Insurance
Specializes in the field with strong financial standing and trucking-focused customer service. Sentry Insurance for trucking companies is a leading provider that understands the risks and challenges that carriers face on the open road. Some key things to keep in mind with Sentry Insurance are:
- Options available for fleets of all sizes.
- Flexible deductible choices.
- A+ rating for 32 years in a row from A.M. Best.
Pros
- Exceptional financial strength and stability.
- Dedicated customer service team for trucking risks.
- Industry partnerships and advocacy efforts.
Cons
- Limited information on pricing competitiveness.
- Available only through appointed trucking agencies.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 5/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 4/5
Community Reviews and Expert Recommendations
Trucking carriers praise how quick Sentry is when responding to claims handling. Experts recommend this company as a top choice due to their financial strength and coverage options. However, some reviewers note that working through appointed agencies can sometimes lead to inconsistencies in customer service experiences.
Price
For Sentry Insurance quotes for trucking companies, a trucking agent is required.
Northland Insurance
Known for its industry longevity, specialized services, and resources for truckers. Northland Insurance has over 75 years of experience as a trucking insurance company. Trucking insurance companies must all start somewhere and Northland Insurance kicked off its journey in 1948 to protect a fleet of beer delivery trucks. Since then, it's been providing industry-leading products and services at an affordable price for owner-operators and for fleets.
Northland Insurance Notables:
- Dependable service.
- Designed specifically for the trucking industry.
Pros
- Decades of experience insuring the trucking industry.
- Comprehensive suite of products and services for truckers.
- Dedicated claims and investigations teams.
- Affordable pricing and risk management resources.
Cons
- Limited information on financial strength ratings.
- Some reviewers report inconsistent customer service experiences.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 5/5
Community Reviews and Expert Recommendations
Northland Insurance receives positive reviews for their in-depth knowledge. However, there are also some reviewers that report unsavory experiences with customer service when it comes to claims handling.
Price
Commercial truck insurance prices are available by requesting a quote.
Great West Casualty Company
This commercial trucking insurance company is best known for being a leader in the industry with a focus on industrial expertise. Great West's attention to detail and industry-specific focus has earned Great West a reputation as a trusted partner for truckers nationwide.
Pros
- Specialized expertise in commercial truck insurance.
- Tailored coverage solutions for various trucking operations.
- Deep understanding of industry risks and challenges.
- Comprehensive risk management resources.
Cons
- Limited information on financial strength ratings.
- No specific details on pricing or competitiveness.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 3/5
- Additional Services: 4/5
Community Reviews and Expert Recommendations
Reviews refer to Great West Casualty Company as being one of the most helpful tools a trucking firm can add to their business, with good premiums, and quick to handle claims.
Price
For liability truck insurance and otherwise, contact a representative to discuss your trucking insurance needs and obtain a quote.
Marquee Insurance Group (MIG)
Innovative technology and streamlined insurance services built for load boards and industry partnerships. Marquee Insurance group was founded in 2014. They quickly established themselves as a powerhouse among commercial truck insurance companies, expanding operations nationwide.
Pros
- Partnerships with industry leaders for exclusive discounts.
- Certified transportation risk and compliance specialists.
Cons
- Limited information on specific coverage options.
- No details on pricing or competitiveness.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 5/5
- Industry Expertise: 5/5
- Customer Service: 5/5
- Cost: 4/5
- Additional Services: 5/5
Community Reviews and Expert Recommendations
Reviews state that Marquee Insurance Group has the best trucking insurance. There are also claims that the company goes above and beyond the call of duty.
Price
MIG encourages you to go to their website for a free quote.
InsureMyRig.com
As an online insurer for trucking and a division of Roemer, InsureMyRig.com is among the dedicated semi truck insurance companies. They aim to meet the needs of owner-operators and small fleets across the nation. When it comes to insurance for trucking, this company has decades of experience in the industry.
Pros
- Specialization in owner-operator and small fleet insurance.
- Streamlined processes for efficiency and simplicity.
- Partnerships with top trucking specialty insurance companies.
- Comprehensive range of industry-specific coverage options.
Cons
- Limited information on financial strength ratings.
- Fewer additional resources or value-added services.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 3/5
Community Reviews and Expert Recommendations
Reviewers state that agents are helpful and professional with a good customer service team.
Price
For Owner-Operator and Own Authority commercial trucking companies insurance, call 888-931-1924 to speak with an InsureMyRig representative.
Cottingham & Butler Transportation Group
Cottingham & Butler Transportation is a group of truck insurance agents and happens to be the largest insurance broker in the U.S. They provide risk management solutions alongside insurance. Their aim is to drive results that make an impact for thousands of trucking companies. With a team of experienced consultants dedicated solely to the transportation sector, Cottingham & Butler brings a wealth of industry expertise to the table when it comes to their commercial truck insurance. They understand the challenges faced by carriers and are willing to work with them to craft flexible insurance solutions.
Pros
- Integrated approach to insurance, safety, and claims.
- Dedicated team of transportation industry experts.
- Flexible and innovative insurance solutions.
- Commitment to supporting carrier growth and risk mitigation.
Cons
- Limited information on financial strength ratings.
- No specific details on pricing or competitiveness.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 5/5
- Customer Service: 4/5
- Cost: 3/5
- Additional Services: 5/5
Community Reviews and Expert Recommendations
Reviews are mixed for this trucking insurance company. There are some positive reviews on the services provided and some negative on the handling of claims by Cottingham & Butler Transportation Group.
Price
To find out more about the price of this commercial truck insurance, contact a Cottingham & Butler consultant.
McGriff Insurance Services, Inc.
Partnering with the best truck insurance companies while taking the time to understand the customer's commercial truck insurance needs in order to find the right coverage is what this trucking insurance broker is known for. McGriff Insurance Brokers have specialized experience in the industry.
Pros
- Tailored coverage options for trucking businesses.
- Robust customization capabilities for individual needs.
- Comprehensive protection against accidents and liabilities.
- Experienced in the transportation industry.
Cons
- Not exclusively focused on the trucking industry.
- Limited information on financial strength ratings.
- Fewer additional resources or value-added services.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 4/5
- Customer Service: 3/5
- Cost: 3/5
- Additional Services: 3/5
Community Reviews and Expert Recommendations
As a BBB accredited business, McGriff had no immediate customer complaints, with mostly positive reviews.
Price
For truck insurance from McGriff, you can get an instant quote online now.
HUB International
Comprehensive coverage options and industry-specific solutions for motor carriers. As one of the leading full-service insurance companies for trucking, Hub International provides solutions for carriers and products and services across North America. Experienced Hub advisors aim to secure the right commercial trucking insurance for long and short haul transportation. They will work with you to craft a trucker's insurance policy that has the right amount of coverage for your needs.
Pros
- Comprehensive coverage options for trucking businesses.
- Specialized solutions for various industry segments.
- Customized insurance programs for individual needs.
- Extensive experience in the transportation sector.
Cons
- Limited information on financial strength ratings.
- No specific details on pricing or competitiveness.
- Fewer additional resources or value-added services.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 4/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 4/5
Community Reviews and Expert Recommendations
When it comes to insurance trucking companies and brokerages, the reviews for Hub International are overall positive. The response from customer service is rapid, and reviewers report that all questions are answered and updates are provided as needed.
Price
To find out the cost of insurance through Hub International for you, connect with a broker.
Reliance Partners
Commercial truck, warehousing, and freight broker insurance for trucking companies of all sizes (single owner-operator or a large fleet). Reliance Partners are truck insurance brokers who place ethical lines of insurance, safety, and risk management products at the forefront of what they do. This is quite possibly the best commercial truck insurance brokerage because it also offers exclusive or limited programs for dump trucks and couriers. In addition to their core insurance offerings, such as auto liability, physical damage, and cargo coverage, Reliance Partners offers specialized solutions tailored to the diverse needs of the trucking industry. This level of customization ensures that carriers receive the protection they need, without unnecessary coverage or costs.
Pros
- Personalized strategies for carriers of all sizes.
- Risk management services and safety seminars.
- Tailored and specialized insurance solutions.
- Extensive network of insurance companies.
Cons
- Limited information on financial strength ratings.
- No specific details on pricing or competitiveness.
Criteria Evaluation
- Coverage Options: 5/5
- Financial Strength: 4/5
- Industry Expertise: 4/5
- Customer Service: 4/5
- Cost: 4/5
- Additional Services: 4/5
Community Reviews and Expert Recommendations
Reviews for Reliance Partners are mixed. While some are positive about their overall business model, others are distraught by their customer service team.
Price
Reach out to Reliance Partners to get a quote.
Extensive Tips for Selecting Trucking Insurance and Working with Insurance Companies
What to Do in Case of a Truck Accident
If you're involved in a truck accident, be sure to contact your insurance company immediately. It's vital to report the incident, as this is a requirement of most trucking insurance companies. You'll need to provide them with all the necessary information. This will include a police report, photos of the accident scene, and any witness statements. It's also paramount to keep detailed records of all interactions and maintain any receipts related to the incident for reimbursement purposes. Here’s a simple, step-by-step guide for what to do in the event of a truck accident:
- Ensure Safety: Move to a safe location if possible and check for injuries. Use safety markers if available.
- Call Authorities: Notify the police to get an official accident report.
- Document the Scene: Take photos of the accident from various angles, including all vehicles involved, damages, and any relevant road conditions.
- Exchange Information: Swap contact and insurance details with the other driver(s).
- Notify Your Insurance: Contact your insurance company immediately to report the accident. Provide them with the accident details, photos, police report, and witness information.
- Seek Medical Attention: Get a medical check-up even if no injuries are apparent.
- Follow Up: Keep in contact with your insurance company, providing additional information and documentation as requested to support your claim.
Prioritize Response Times for Roadside Assistance
When assessing trucking insurance companies, it's crucial to evaluate their capability to deliver quick and efficient roadside assistance. Be sure to look for companies that prioritize fast response times. This can make a world of a difference in reducing operational downtime and costs. Some insurers may partner with nationwide services to ensure rapid responses. This is especially true if a truck breaks down in a remote area and needs a response. The difference between a provider that promises service within an hour versus one that does not have time-specific guarantees can significantly affect your operational downtime and costs.
Scrutinize the Claims Process
When choosing insurance for trucking, be sure to:
- Opt for one that's straightforward and transparent with their claims process.
- Check if they offer digital tools for filing claims to streamline documentation and speed up the process.
- Determine the point of contact (online portal, phone call, email) and the information needed to start the process.
- Ask about the average time it takes to resolve and close different types of claims.
- Find out if the insurer offers 24/7 support for claims. This is critical because trucking operations are on the road 24/7 themselves.
Assess Coverage for Different Cargo Types
When selecting insurance coverage for different truck types in freight shipping, it's essential to consider the various risks. Be sure to look for a truck insurance company that offers specialized cargo coverage that's tailored to the goods you transport.
An example of this would be policies for transporting electronics or pharmaceuticals. They often include coverage against temperature fluctuations and humidity, which is unlike those dry goods. Similarly, hazardous materials not only require standard cargo insurance but also additional coverage for environmental cleanup in case of spills, which is not typically required for non-hazardous materials.
Check for Flexibility in Policy Adjustments
Ensure your owner-operator or commercial truck insurance company allows you to adjust your coverage with ease based on seasonal changes in business volume or changes in the types of loads you carry. Be on the lookout for:
- Adjustable Coverage Limits: Policies where you can adjust the maximum coverage limits based on anticipated increases or decreases in cargo volume.
- Seasonal Flexibility: Coverage that can be enhanced during peak business seasons and reduced during slower periods without financial penalties.
- Add-on Covers as Needed: The ability to add specific covers temporarily, such as for high-value cargo or international trips, on an as-needed basis. This is crucial for maintaining the right coverage without overpaying during off-peak time. Be sure to confirm how often you make these changes without facing penalties or premiums.
Another great way to optimize your revenue and avoid deadheading is by checking out our LoadBoost™ Load Board.
Evaluate Deductible Options
Balance your premium (the amount you pay for your insurance policy) with your deductible (the amount you pay out of pocket before your insurance kicks in after a claim). When choosing between trucking insurance companies, consider:
- Higher Deductibles: May lower premiums, but could also mean significant out-of-pocket expenses in the event of a claim.
- Experience: Seasoned truckers with clean records should qualify for lower premiums and better terms.
- Combined Deductibles for Fleet Operations: Some insurers offer combined deductibles for claims involving more than one vehicle. This can be a cost-saving option when multiple vehicles are involved in the same incident.
Deductible Options to Consider
- Vanishing Deductibles: Some policies include a feature where your deductible decreases as you remain claim-free over time.
- Scaling Deductibles: In some cases, insurers might offer deductibles that scale based on factors like the age of the vehicle or the driver's experience.
- Special Deductibles for Specific Coverage: Look for options where certain types of coverage, such as those for very expensive or specialized equipment, have different deductible levels compared to standard coverages.
Wrapping Up
In closing, it's imperative to choose trucking insurance companies with policies that align with the many needs of truckers. Whether you choose a company from our top list of providers or you select one that's not listed here, they should take into account factors like cargo type, operation size, and geographic coverage. The best way to decide is by taking matters into your own hands and comparing the reviewed companies against your specific requirements. This way, you're bound to find the most suitable match.
However, in some instances, you may be searching for another type of insurance in the trucking industry. While trucker's insurance covers the vehicles, liabilities, and operations - freight insurance protects the goods that are being transported. To learn more, check out our freight insurance guide. All-in-all, we hope this trucker's insurance guide helps you decide on the one that best suits your needs while on the open road.
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