Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Dec 11, 2021

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The Lowdown

  • Commercial auto insurance is designed to insure business-owned vehicles
  • You can pay as low as $50 a month for commercial auto insurance
  • Progressive has the highest market share in the commercial auto insurance industry
  • State Farm has the best small business insurance overall

Do you want to know more about the best companies for commercial auto insurance? Buying affordable commercial auto insurance isn’t as complicated as it seems.

But which companies provide the best commercial auto insurance? Don’t worry – we’re here to help.

Read our guide to learn how you can secure an insurance policy at the best companies for commercial car insurance. Also, we’ll look at small business insurance companies that provide commercial auto insurance coverage.

After you learn about the best companies for commercial auto insurance, use our free online quote tool above to compare multiple insurance companies in your area.

Where can I find the best companies for commercial auto insurance?

The top commercial car insurance companies provide policies across the nation. But which insurance companies are the best at providing commercial auto insurance?

Here’s a list of the top 10 commercial auto insurance companies.

  • Progressive
  • Travelers
  • Old Republic
  • Liberty Mutual
  • Nationwide
  • Zurich
  • Berkshire Hathaway Inc.
  • Allstate
  • Chubb
  • W. R. Berkley Corp.

The companies on this list have the highest market share in the commercial car insurance industry.

Progressive commercial auto insurance is the best overall, but Nationwide commercial auto insurance has the best value.

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What are the top 10 commercial auto insurance companies?

The top 10 commercial insurance companies have the highest market share, but it doesn’t mean other companies aren’t reliable.

Let’s look at the top 50 commercial auto insurance companies and their market shares.

Commercial Auto Insurance by Market Share
RankCompanyMarket share
1Progressive12.33%
2Travelers6.33%
3Old Republic Insurance4.17%
4Liberty Mutual3.74%
5Nationwide3.67%
6Zurich3.59%
7Berkshire Hathaway Inc.3.24%
8Allstate Corp2.36%
9Chubb1.98%
10W. R. Berkley Corp.1.86%
11AIG1.82%
12The Hartford1.72%
13The Cincinnati Insurance Cos.1.69%
14Great American Insurance1.69%
15Tokio Marine1.65%
16Erie Insurance1.51%
17State Farm1.50%
18Selective1.50%
19Fairfax Financial1.39%
20CNA1.30%
21ACUITY A Mutual Insurance Co.1.30%
22Markel1.26%
23Federated Insurance1.24%
24EMC Insurance1.18%
25Farmers Insurance1.12%
26AmTrust Financial0.84%
27The Hanover Insurance Group0.79%
28Kemper0.77%
29IAT Insurance0.69%
30Clear Blue Insurance0.67%
31Canal Insurance0.66%
32FCCI0.65%
33American Transit Insurance Co.0.65%
34AXA SA0.64%
35United Fire Group Inc.0.63%
36American Family Insurance0.62%
37State Auto0.58%
38Utica National Insurance Group0.57%
39Protective Insurance Corp.0.57%
40Everest Re0.57%
41Westfield Insurance0.55%
42Mercury Insurance0.53%
43Trisura Group Ltd.0.49%
44Prime Insurance0.48%
45Houston International Insurance0.48%
46Motors Insurance Corporation0.47%
47Western National Insurance0.44%
48STARR Cos.0.42%
49West Bend Mutual Insurance Co.0.40%
50ProSight Specialty0.37%

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Although Farmers isn’t in the top 10 companies, it provides the best coverage for single vehicles (ideal for ridesharers and delivery drivers).

If you want to insure a fleet (multiple vehicles under commercial car insurance), consider buying a policy from The Hartford.

State Farm commercial car insurance is known for its customer service experience.

What coverage options come with commercial auto insurance?

Commercial car insurance can provide the same coverage options as personal insurance. However, the degree of coverage is much higher.

Businesses require more coverage limits because there’s more to cover. But which car insurance coverages are better?

Here’s a list of essential coverage options for commercial auto insurance.

  • Bodily injury liability – This coverage pays for bodily injury to others when you or an employee is at fault in an accident.
  • Property damage liability – The property damage of the other driver is covered by property damage liability when you or your employee is at fault in an accident.
  • Collision coverage – This essential coverage option pays for property damage to your vehicle regardless of fault.
  • Comprehensive coverage – Any damage to your commercial vehicle that doesn’t involve a collision is covered by comprehensive insurance.
  • Combined additional coverage (CAC) with limited comprehensive/fire and theft – CAC is usually for trucks that encounter fire damage, theft, and other incidents.
  • Medical payments (MedPay) – The insurance company covers medical expenses regardless of fault.
  • Personal injury protection (PIP) – PIP covers the cost of any lost wages, child care, legal fees, and other personal injury-related incidents.
  • Uninsured/underinsured motorist coverage – The commercial insurance company pays for damage when a driver is uninsured or the damage exceeds their coverage limits.
  • Roadside assistance – This essential service assists when your vehicle breaks down to due minor or major mechanical issues.
  • Hired and non-owned auto insurance – This specific option provides coverage for rental vehicles and employee-owned cars.
  • Named insured coverage – A coverage option that targets specific employees at your business and provides the same level of coverage as any other vehicle.
  • Rental car reimbursement – The insurance company reimburses you for a rental car during repairs on a covered claim.

Commercial car insurance coverage is similar to personal car insurance. However, commercial liability insurance coverage has policy limits that are over $1 million.

What’s the difference between commercial and regular auto insurance?

Commercial car insurance targets insurance for business vehicles. Meanwhile, regular car insurance is personal insurance coverage for an individual or family.

Which vehicles are covered by commercial auto insurance?

Personal car insurance provides coverage for passenger cars, vans, pickups, and SUVs. Commercial auto insurance expands the types of vehicles you can insure.

Check out the list below to see what vehicles are covered.

  • Passenger cars
  • Vans
  • Pickups
  • SUVs
  • Delivery vans
  • Cement mixers
  • Haulers
  • Cranes
  • Various trucks (including semis)

Other vehicle types may also be included. Ask the commercial insurance company if they can provide insurance for specialty vehicles.

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How much is commercial auto insurance?

Each car type has a unique commercial car insurance cost. Examine the average commercial auto insurance rates below to see how much each vehicle type costs.

Average Monthly Commercial Car Insurance Rates
Car TypeMin. Monthly Cost Commercial Auto InsuranceMax Monthly Cost Commercial Auto Insurance
Car$50$200
Semi$667$1,042
Cargo/Delivery Van$275$517
Limo$333$500
Cab$417$833

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Cars are the cheapest vehicles to insure at commercial insurance companies. Cabs and limos are the most expensive cars to insure at commercial auto insurance companies.

Which factors determine the cost of commercial auto insurance rates?

Several factors affect the cost of commercial car insurance rates. Here’s a list of the most critical characteristics that impact commercial auto insurance quotes.

  • Vehicle type
  • Vehicle value
  • Number of cars insured
  • Driving records of insured employees
  • Location
  • Mileage (how often you and your employees drive)
  • Policy limit
  • Deductible

The car type includes the trim level and weight of the vehicle. Passenger cars are much lighter than SUVs and pickup trucks.

Also, your car’s value impacts your commercial auto insurance. The higher the value, the more you’ll pay for commercial insurance.

What are the best commercial auto insurance discounts?

Commercial auto insurance has similar discounts to those that you usually find with personal auto insurance.

Here’s a list of commercial car insurance deals that can save you hundreds of dollars per year.

  • Clean driving record discount – Secure commercial auto insurance deals when you and your employees have a clean driving history.
  • Experienced commercial drivers discount – The commercial car insurance company will provide savings if you have multiple experienced drivers with a commercial driver’s license.
  • Pay-in-full discount – Commercial insurance companies provide deals to businesses that pay commercial auto insurance in full.
  • Bundled policy discount – Receive additional savings when you bundle general liability or other insurance types to commercial car insurance.
  • Automatic payment discount – You can get a small discount when you set up automatic payments on your commercial insurance policy
  • Safety features discount – Vehicles with certain safety features can get discounted rates.
  • Professional association discount – If your business is part of a larger organization, you can receive a discount.

These are only a few discounts. Some insurance companies may have more. Consider raising your commercial auto insurance deductibles to save even more.

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Which commercial auto insurance company has the best financial strength ratings?

Financial strength ratings show current and potential customers how well an insurance company is doing financially.

You’ve seen how various commercial auto insurance companies rank in market share. But what are the A.M. Best ratings for the top 10 commercial car insurance companies in the United States?

Let’s examine the most recent ratings.

Top 10 Commercial Auto Insurance Companies by Financial Strength Ratings
CompaniesA.M. Best Ratings
Allstate CorpA+
Berkshire Hathaway Inc.A+
ChubbA++
Liberty MutualA
NationwideA+
Old Republic InsuranceA+
ProgressiveA+
TravelersA++
W. R. Berkley Corp.A+
ZurichA+

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Although Progressive has the highest market share in the commercial auto insurance industry, Chubb and Travelers have better A.M. Best ratings.

All companies on the top 10 list have excellent to superior ratings. This means each company has a strong financial standing and can pay claims.

Which commercial auto insurance companies have the best J.D. Power score?

If you want to explore ratings beyond A.M. Best, try J.D. Power. J.D. Power measures customer satisfaction with commercial businesses through its index rankings each year.

We compared  J.D. Power Overall Customer Satisfaction Index Ranking below. Let’s see which has the highest J.D. Power score.

2020-2021 J.D. Power Overall Customer Satisfaction Index Ranking for Small U.S. Commercial Insurance
Companies2020 J.D. Power Scores2021 J.D. Power Scores
Allstate829848
State Farm852846
Erie Insurance850845
Farmers840839
Chubb853838
Travelers835831
*Industry Average836829
Nationwide (Allied)829828
The HanoverN/A817
Liberty Mutual850811
The Hartford827803

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Progressive isn’t included in the J.D. Power rankings of small businesses. Chubb and Travelers are included, but both companies rank lower than Allstate and State Farm.

But this J.D. Power study focuses on small business insurance companies. According to the U.S. Auto Insurance Industry Study, State Farm has the best satisfactory scores in most regions in the nation.

Best Companies for Commercial Auto insurance: The Bottom Line

Progressive, Travelers, and Old Republic are the best commercial car insurance companies.

Although commercial auto insurance rates are difficult to pinpoint, you can pay as low as $50 a month. However, your rates may be different based on factors that are specific to your business and vehicles.

Now that you know more about the best companies for commercial auto insurance, enter your ZIP code in the free online quote tool below to compare multiple companies near you.