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Best Commercial Auto Insurance Providers in 2024

Help protect your Small Business with our best Commercial Auto Insurance providers in 2024.

What is Commercial Auto Insurance?

Commercial auto insurance helps give the business liability and physical damage protection for vehicles that are used for business purposes.  Vehicles that are used for commercial purposes likely will need a commercial auto insurance policy, as they’re typically exposed to more risk than personal vehicles, which can come in the form of accidents, injuries, property damage, and more. Business auto insurance is important for businesses of all sizes because it can help to protect the Small Business Owner from financial losses in the event of an accident.

How Much Does Commercial Auto Insurance Cost?

The cost of commercial auto insurance can depend on a few factors, including business type and location, vehicles, drivers, driving history, and more. According to Progressive, the leading commercial auto insurance provider, commercial auto policyholders pay on average $220 per month or less for their coverage[1].

Best Overall Commercial Auto Insurance: Progressive Commercial

Progressive, the #1 commercial auto insurance provider in America[2] is also our pick as the best commercial auto insurance provider.  Whether your business uses trucks, vans or other automobiles for business purposes, Progressive makes getting business auto insurance easy for small business owners.  Progressive offers small business owners easy access to getting a commercial auto quote by going directly online, speaking to licensed agents over the phone, or working through a large network of independent agents. 

Small business owners also get access to potential discounts and coverage options that can help tailor the coverage to their business needs.  However, for the most part, Progressive will require you to speak to a licensed insurance agent in order to get your commercial auto policy.  Additionally, in some cases, other insurance coverages outside of commercial auto that the small business owner may be seeking could fall outside an offering Progressive distributes and instead refers to a partner carrier.

Why We Like Them

  • #1 commercial auto insurance provider
  • Competitive discounts for the small business owner

Why We Don’t

  • Can’t buy insurance online

2nd Place: Nationwide

Since 1926, Nationwide continues to be recognized as a leading insurance provider with a specialized focus on the small business owner market.  Their commercial auto product, and some of the unique features connected to it, help make Nationwide our #2 commercial auto insurance provider. Nationwide policies are largely customizable, allowing a small business owner to add a number of endorsements, like expanded towing and labor, rental reimbursement, and auto loan or lease gap coverage. 

Additionally, Nationwide offers small business owners some discounts, including access to their Vantage 360 Fleet® Program[3].  With this program, Nationwide offers small business customers free telematics capabilities for small businesses that provide an easy way to manage fleet vehicles and monitor drivers’ routes and driving activity.  Small business customers enrolled in this program could see a 10% discount off their commercial auto policy for participating.

Why We Like Them

  • Enrollment in Vantage 360 services could include a 10% discount
  • Strong customer satisfaction

Why We Don’t

  • No ability to purchase a policy online requires speaking to a licensed agent

3rd Place: Tivly

Tivly ranks as our 3rd place commercial auto insurance provider. As a leading small business insurance marketplace, Tivly partners with over 200 insurance providers to find the right insurance for an owner.  The process of getting a commercial auto insurance quote from Tivly is no different.  Simply add some basic information about your business on their web form or with one of their insurance specialists, and based on that information Tivly will connect you with an insurance provider on their panel.   Partnerships with flagship brands on this list like The Hartford, Progressive, and others help point their small business owner’s shoppers to the provider that makes the most sense for them.

Why We Like Them

  • Partner with over 200 insurance providers
  • Quick, efficient insurance placement with live insurance specialists

Why We Don’t

  • Limited ability for shopping multiple providers at once

4th Place: Geico

Geico comes in as our 4th place insurance provider for commercial auto insurance.  For over 70 years, Geico has been one of the most recognizable brands in insurance.  Like Progressive, their commercial auto product can be quoted directly through Geico and staff licensed agents to help walk the small business owner through the quoting experience.  Geico’s online quoting experience allows small business owners to easily get a quote for business auto insurance, as well as other coverages they need.  It’s worth noting that Geico in some cases refers insurance products to other providers in the event they don’t write them today. Geico’s coverage is competitively priced, but also allows a small business owner to customize their commercial auto policy around fleets of all sizes and covers most vehicle types, including cars, vans, and trucks.  However, it does not cover tractor-trailers or semi-trucks.

Geico’s financial strength ratings are excellent as well, with some of the highest ratings in the industry: AM Best rates them at an A++ level, their highest possible score, along with an Aa1 from Moody’s and an AA+ from S&P, which are each the second-highest rating on those respective scales.

Why We Like Them

  • Recognized leader in insurance with strong financial strength
  • Online quote and claim ability

Why We Don’t

  • Some limitations on vehicle types exist
  • Products outside of commercial auto could be referred to another provider

5th Place: The Hartford

With over 200 years of experience and as a leading provider of small business insurance solutions in the marketplace, Hartford rounds out our list of best commercial auto providers.  The Hartford offers their commercial auto insurance product for businesses with cars, vans, pickup trucks, box trucks and service utility trucks but appears to be more specialized in fleets.

Getting a quote for commercial auto insurance can be done directly through The Hartford or through an independent agent. Today, while you can get a quote for commercial auto insurance online, a small business owner would have to speak to a licensed agent to actually get their policy.

Why We Like Them

  • A recognized leader in small business insurance

Why We Don’t

  • Can’t buy online

How We Ranked Insurance Providers & Marketplaces

We spent hours canvassing the marketplace for the Best Professional Liability Insurance companies, reviewed them based on the coverages they offer, their respective positions in space, ease of doing business, and overall customer experience to help best align our Small Business Owner followers with the right insurance solution for their Business.

Disclaimer

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