For good reason. More than 110,000 large truck crashes each year result in injuries, according to the most recent figures from the National Safety Council.
Just about every state requires commercial trucks to carry liability auto insurance, which covers the owner’s financial responsibilities if a driver causes an accident with bodily injury or property damage.
In addition to liability insurance, truckers can add comprehensive and collision insurance. Collision covers accidents with objects or other vehicles. Comprehensive takes care of damage from non-collision events such as fire and theft.
Trucking businesses pay about $816 a month for commercial insurance, according to small business insurance broker Insureon.
However, what trucking companies pay for liability, comprehensive and collision insurance depends on several factors, such as the insurance company and coverage type you choose, the type and number of vehicles they’re insuring, and other factors, says Kristin Thelen, director of account management for Insureon.
In this guide, we’ll examine the different types of truck insurance available, what they cover, which companies sell trucking insurance, the cost of a policy, and how to lower premiums.
This includes:
- Box trucks
- Bucket truck
- Dump trucks
- Flatbeds
- Refrigerator trucks
- Tanker trucks
- Tractor trailers
CarInsurance.com Insights
- Most trucking operators pay about $816 a month for commercial vehicle insurance.
- Commercial truckers are required to carry liability coverage in nearly every state.
- Truckers can lower their monthly premiums by signing up for telematics, bundling policies and increasing their deductibles, although the latter isn’t often recommended.
Who needs commercial truck insurance?
Any company that owns a truck that carries people or goods needs commercial insurance. This includes long-haul truckers, tow truck operators, box truck owners, dump truck operators, and semi-truck owners. Specific business types that need commercial truck insurance include: haulers of vehicles, refrigerated goods, agriculture and livestock, machinery, dirt, sand and gravel.
How much is commercial truck insurance?
The average cost of commercial vehicle insurance for trucking businesses is $9,794 per year, or about $816 per month, according to Insureon. However, as mentioned earlier, the actual amount your business will pay depends on several factors, including the carrier you choose.
Progressive, on its website, says its 2023 national average for commercial for-hire truck insurance ranged from $767 for specialty truckers to $1,041 for other transportation truckers.
What insurance companies offer insurance for commercial trucking?
Many commercial insurance companies sell vehicle insurance for trucking businesses. Here are some companies you might consider if you’re shopping for this type of insurance:
- Old Republic
- Progressive
- W.R. Berkley
- Zurich
Insurance.com, an insurance education site operated by the same company that runs CarInsurance.com, has posted a list of the top 10 commercial auto insurers.
How are rates determined for trucking companies?
When you apply for a commercial auto insurance policy, the insurance company uses different criteria to determine the risk of insuring your trucking business. The riskier your business is to insure, the higher your premium will be. Trucking businesses generally pay some of the highest commercial auto insurance rates among all industries.
Your location is one of the biggest factors affecting commercial auto premiums for trucking businesses. Rates differ by state, city and ZIP code. For example, if your business operates in a state that experiences severe weather or if you garage your trucks in a neighborhood with high crime, you can expect to pay a higher insurance premium.
Vehicle usage is another thing that determines your business auto insurance cost. If your trucking business has a large fleet of trucks driven long distances, you can expect to pay more than a smaller fleet used for shorter trips. The types of trucks you own can also impact your premium.
GEICO, which is a major player in the commercial auto insurance space, says these other factors affect the price of truck insurance:
- Your driving record. Your driving history and that of your employees can affect your rates.
- Your cargo. What you haul can affect your rates. GEICO says transporting baked goods is much safer than moving electronics, which can be a target for thieves.
- Your travel distances. Trucks driving long-haul routes, not surprisingly, usually have higher rates because they have greater exposure.
- Your business. If your business has been around for several years, has established a strong safety history and has a good credit rating, you’ll likely get favorable insurance rates.
- Your trucks and their condition. The age and shape of your trucks matter. A new truck, for instance, with the latest safety features, will usually get a better rate than an older, poorly maintained truck.
Do policy limits affect commercial auto insurance premiums?
Another key factor in determining how much you pay for insurance is the type and amount of coverage you buy. A liability-only policy, for instance, which just covers damage and injuries you may cause, will be cheaper than a full coverage policy, which includes liability, collision and comprehensive insurance.
How much insurance you have will also affect your rate. However, trucking companies that operate across state lines should be aware that the Federal Motor Carrier Safety Administration (FMCSA) requires trucks moving freight to have liability coverage of between $750,000 and $5,000,000, depending on the commodities they carry.
But remember, minimum coverage is the cheapest commercial auto insurance you can legally have. You’ll pay more for full coverage, but your trucks will be protected.
FMCSA requirements cover both motor carriers and owner-operators.
Motor carriers, as defined by the FMCSA, are businesses, individuals, partnerships, and corporations that direct and control vehicles that transport goods, property, or people. Owner-operators, on the other hand, are individuals who own their own commercial vehicles, usually truck tractors, and are typically behind the wheel.
How to get the best truck insurance quotes
Experts recommend getting multiple quotes when shopping for truck insurance. Comparison shopping will help you find the most affordable commercial auto insurance for your industry, fleet size, and other factors.
Here are three quick steps you can take to get the most accurate insurance quotes:
- Choose your policy limits. Before you decide on a carrier, figure out how much coverage you need. Consider where your truck will operate and what type of work it will do. Make sure you have enough insurance to cover any damage your truck might cause, as well as damage to your vehicle.
- Figure out what coverages you need. As mentioned earlier, there are a lot of options. You’ll need liability coverage, but also think about collision and comprehensive insurance. Many insurers also offer endorsements, or add-ons, such as rental insurance should one of your vehicles be out of action.
- Select a deductible. Truck insurance policies require a deductible for comprehensive and collision coverage. This is the amount you’ll pay out of pocket before your insurance kicks in. Choose a deductible that you can comfortably afford in case of a claim.
Ways to save on insurance
Commercial auto insurance premiums are different for every business type. Premiums can be expensive depending on your location, fleet size, employee driving records, claim history and other factors. However, there are ways to save on business vehicle insurance.
Here are some ways that you can reduce your commercial auto insurance costs:
- Ask about discounts. Many truck insurers offer discounts – paying up front, paying electronically, maintaining a clean driving record, and more – that can reduce your premium.
- Bundle your policies. When you obtain more than one policy from the same insurer, you can get a bundling discount.
- Sign up for telematics. This allows your insurer to track you and your drivers’ behavior behind the wheel, which can lead to significant savings.
- Up your deductible. A higher deductible will lower your monthly payments. But be sure it’s an amount your business can afford in case of a claim.
- Comparison shop. Getting quotes from different insurers will allow you to compare prices to get the best deal, but make sure you compare the same coverage types and amounts.
Sources
- Federal Motor Carrier Safety Administration. “Insurance Filing Requirements” Accessed July 2025.
- National Safety Council.”Large trucks” Accessed July 2025.
Frequently asked questions
What other types of insurance should trucking companies consider?
- Motor truck cargo insurance. This covers cargo if it’s lost or damaged in transit.
- Bobtail coverage. This covers fleet owners and independent truckers after they empty their trucks and return home or to another location to pick up cargo.
- Hired and non-owned auto (HONA) coverage. This provides bodily injury and property damage coverage for trucks you rent, hire or lease.
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