Home Finance Finding the Best Car Insurance for Trucks

Finding the Best Car Insurance for Trucks

by wrich

Trucks can be like a second helper. With rugged construction, spacious beds for hauling, and some sporting four-wheel drives, they are the perfect companions for many people who drive every day.

However, with so many choices for insurance, it can be challenging to know what the best company is for them. What’s the best car insurance for truck drivers? Let’s look at some different insurance companies and what their rates are for truck drivers. We’ll also look at ways to keep insurance rates low and affordable. 

Different Insurance Companies for Trucks

There are many insurance companies for trucks. Below, we will compare Allstate, GEICO, Liberty Mutual, and USAA to see which one is the best.

Allstate

Founded in 1967, this company has an annual rate that is a little over $3,800. Typically, rates for car insurance are around $2,000 or lower, so Allstate is on the expensive side. But they are above average when it comes to insurance claims satisfaction. According to J.D. Power, Allstate is below average when compared to other insurance companies. 

They have many discounts available for policyholders. Some of those discounts include savings for those with a new car, those with proven safe driving habits, bundling policies, and discounts for using paperless options.

Even though it’s more expensive than average, Allstate is excellent for trucks and provides coverage for several accidents and damages. This is a good thing because as the pandemic comes to an end, more people will be on the road, which means a longer commute for truck drivers. 

GEICO

GEICO has an annual rate that is roughly $2,100, which is about average for car insurance. They were founded in 1936. GEICO is ranked among the best for car insurance shopping by J.D. Power but has a below-average rank for insurance claims satisfaction. 

They also have a plethora of discounts at your disposal, including being active military, having safety equipment, and being or having been a federal employee.

GEICO’s commercial truck insurance is perfect for businesses with all kinds of vehicles, including trucks, vans, and sports utility vehicles (SUVs). 

Liberty Mutual

Liberty Mutual’s annual rate is over $4,500, making it the most expensive insurance company out of the four. It was founded in 1912. J.D. Power ranks this company below average for car insurance shopping and insurance claims satisfaction. 

Liberty Mutual has many discounts available for drivers, including discounts for owning a home, driving an electric or hybrid car, and even a discount for purchasing insurance directly from their website. It might be worth getting insurance from them just from their deals alone, as expensive as it is. 

USAA

Founded in 1922, USAA has the cheapest rate of the four companies listed here. The annual rate is roughly $1,900. USAA is ranked among the best for car insurance shopping by J.D. Power. The only catch with this insurance company is that you have to be in the military to apply for it. 

USAA has many of the same discounts as the other three companies listed above. It’s a Fortune 500 company, which makes it prestigious in its own right. As inexpensive as it is, getting this insurance for your business might not be worth it, especially if you were never in the military.  

Looking at these four insurance companies should help you figure out which company would best suit your needs, but don’t just take our word for it. Investigate for yourself and decide which company is right for you.  

Cheaper Insurance for Trucks

On average, insurance for trucks amounts to $960 per year. That’s not nearly as expensive as insuring a traditional vehicle, but the amount can add up over time. 

There are ways to get cheaper insurance as a truck driver: Having an untainted driving record, understanding the laws in your area, increasing your coverage on your personal vehicle, and comparing insurance rates from different providers, as we did previously. 

Have an Untainted Driving Record

Having an untainted driving record might not seem like a big deal. Still, insurance can increase significantly or be canceled altogether from having a poor driving record. The severity of your bad driving habits can also determine whether your policy increases or gets canceled. 

For example, reckless driving, tailgating, or engaging in road rage are surefire ways to lose your policy and your license. Just because you drive a truck doesn’t give you the right to be a bully on the road.

Understand the Laws in Your Area

Knowing the laws in your area is necessary, especially when you’re trying to keep down your insurance rates. Go online and look up the traffic laws where you live. Make sure to follow them as closely as possible. 

Keep in mind that some states in the U.S. deal with violations differently than others. For example, Nevada considers illegal U-turns a speeding violation and punishes those that commit them pretty severely. Just be mindful of your local traffic laws. 

Decrease Your Coverage on Your Truck

When you decrease your coverage on your truck, it helps keep insurance rates low. If your truck is older, it may not make sense to keep collision or comprehensive coverage on it. You can usually stop these types of coverage if your car is worth less than 10 times the premium. 

Higher deductibles — the amount you pay out of your pocket when you file a claim — can also mean lower premiums. Check with your provider and see how you can keep your premiums down. 

Compare Insurance Rates from Different Providers

Consider changing insurance providers when trying to get lower insurance rates. As we discussed earlier, USAA has the lowest rates if you are eligible for it. Use insurance comparison sites to help you decide which company to go with. 

The Freedom to Travel as a Truck Driver

Truck drivers have a lot going for them. There’s nothing better than having a vehicle that can help you with day-to-day projects. What we’ve discussed should help you have lower monthly payments and help your business deal with accidents and damages. 

Do your research and see if a company that was not listed above has better rates. There’s always a great deal to be found.

About Author:

Peyton Leonard writes and researches for the car insurance comparison site, CheapCarInsuranceQuotes.com. Peyton enjoys helping business owners find the best rates for their company car insurance, and provides advice for policy holders to avoid bankruptcy caused by out-of-pocket expenses. 

This is a Sponsored Feature

You may also like