TRUCKING INSURANCE COMPANIES
Did you know that you need to make truck insurance companies compete to give you a fair price? Working with an insurance agent that represents many trucking insurance companies allows you to save time and money.
The problem is not only the truck insurance companies, but also the truck insurance agents. Unfortunately, many agents that do not specialize in truck insurance will sell truck insurance without the correct coverage's and not understand how to get their customers the best quotes. The main reason for this is because almost every agent in the United States is able to sell Progressive Truck Insurance, which can be quoted online by all insurance agents.
Challenge: If you don't have anything better to do call multiple truck insurance agents and ask for a truck insurance quote providing each of them identical information. Many times those 3 agents will provide different Progressive Trucking Insurance quotes.
Problems when shopping with multiple trucking insurance companies:
- Trucking Insurance agents are paid a percentage of your insurance premium and they will often do things they should not be doing to sell that expensive policy to you. As the person buying trucking insurance you need to be on the look out for many dirty things some truck insurance agents will try to do to you.
- Commercial Trucking Insurance Companies are hurting and trying to collect as much money from YOU as possible. If your agent isn't eating, sleeping, and breathing truck insurance, then they will not be able to take care of you properly. For example: If you have Progressive Cargo Insurance currently, but are not receiving an ELD discount, you probably do not have a trucking specialist for an agent.
- Understanding the quotes you receive can be difficult, especially when the truck insurance agent does not provide you with a real quote. Is there a towing cap? Can you haul Electronics? Can you haul eggs or seafood?
- Answering the same questions over...and over...and over! Unless you really love making conversation with cargo insurance or truck insurance agents having to repeat your 17 digit VIN number for 5 different agents can be frustrating. Amazingly they will all also ask your different questions, sound like a familiar experience shopping for truck insurance?
- Not knowing if you need to keep shopping or if you already have the best quote. An experienced truck insurance agent will know based on your specific situation what a fair price should be. They will pressure you into buying so they don't lose the sale. Did you know many truck insurance companies send out quotes backwards? It doesn't matter when an insurance agent sends in a quote request, if the truck insurance company quote team is busy, then they will start working on the quote requests are are closest to renewing their current trucking insurance.
- Last, but not least is whether your insurance will be accepted by freight brokers like CH Robinson, JB Hunt, Coyote, Landstar, etc. If you are hauling general dry freight or reefer and a trucking insurance agent sends you truck liability insurance quote for the federal minimum of $750,000 you should run, far, far away! Why? The agent 1) Has no clue about truck insurance, or 2) Knows that nobody will give you loads at $750K, but now that you have paid them a large down payment, they know that you will be forced to pay the extra money to increase it up to $1 Million in commercial auto liability coverage so you can find work.
- What is scary is that this is only a few of many dangers when shopping for trucking insurance. Download a copy of our Guide To Shopping for Trucking Insurance for more to look out for. (Coming soon)
Best Truck Insurance Company
How do you know that you haven't only found the best price for trucking and cargo insurance, but have the best coverage?
This is a common problem when getting truck insurance quotes. Depending on your unique situation some companies are more competitive than others. While many other websites will list only a few factors that affect prices like: What cargo do you haul? Longhaul or short haul? Your safety record? CDL experience? Mayflower Insurance believes in providing clarity to consumers, not just having high search rankings.
See our article about the factors that truck insurance company's look at when deciding to quote you and how much to quote you. (Coming Soon)
Do not ask "What is the best trucking insurance company", instead you need to ask "What is the best truck insurance company for ME?"
Get 3 truck insurance quotes from 3 different truck insurance agents.
If you shop with enough insurance agents your will have a better chance of getting the best price...right? Wrong, it is not that simple and in many cases can hurt you! You need to find a trucking insurance specialist that represents many truck insurance companies to shop for you. 3 truck insurance brokers competing for your business is not always a smart idea.
Why? Truck Insurance is special because it is high risk from an insurance perspective and not enough of it to have a dedicated truck insurance department for insurance companies.
Did you know there is a mysterious middleman that most truckers looking for truck insurance do not know about?
Truck Insurance agents have brokers too...sort of. Companies like Northland, Scottsdale, Canal, Occidental, National Indemnity, and other popular truck insurance companies do not work directly with truck insurance agents, instead they go through Managing General Agents like Arlington Roe, JM Wilson, or Burns & Wilcox. Think of these MGA's (Managing General Agents) like middlemen that can represent multiple companies. The managing general agents are like outsourced insurance departments, it is their job to collect all of the information and filter out business that is not desirable for the insurance company to take time looking at.
Example of shopping for truck insurance: If you were to go to an Indiana truck insurance agent that uses JM Wilson as their MGA/Broker, then that broker will likely go to the following insurance companies: National Indemnity (NICO), Northland (Travelers), Scottsdale (Nationwide), Canal, and Lloyd's of London.
Afterward you get a call from an Ohio trucking insurance agent that uses Arlington Roe as their MGA/Broker, then that broker will probably go to: National Indemnity (NICO), Northland (Travelers), Scottsdale (Nationwide), Canal, and Lloyd's of London.
How many truck insurance companies did you shop with?
The Indiana truck insurance agent went to 5 insurance companies through the MGA JM Wilson.
The Ohio truck insurance agent went to the SAME 5 insurance companies through the MGA Arlington Roe.
The trucking insurance companies will take the all the information provided and first compare it looking for differences. Many times trucking insurance agents do not ask for all of the information and will make up information out of fear of asking you to many questions. This can cause many companies to decline or offer higher quotes, especially when there are 3 or more insurance agents submitting the same account.
Shopping with more truck insurance agents DOES NOT GET YOU MORE truck insurance quotes. In some situations agents will have exclusive contracts that other agents do not have, but for the most part a single trucking insurance agency will be able to shop with almost all of the truck insurance companies for you.
TRUCK INSURANCE COMPANY DIRECTORY
Below we have provided information on many of the USA Truck Insurance Companies. If you do not think your agent is shopping for you, or if you are shopping for truck insurance as a new company, finding an truck insurance expert who is honest and services you well is the key to savings.
1st Guard Corporation
Auto Owners Insurance Co
BBT Insurance Services
Canal Insurance Company
Carolina Casualty Insurance Co
Chubb group of Insurance Cos
Century Insurance Group
Continental Western Group
Eastern Atlantic Ins. Co
Essex Insurance Company
Farmers Truck Insurance Exchange
Fireman’s Fund Insurance Co
Gateway Insurance Company
Great American Insurance Group
Great West Casualty CO
Hallmark Insurance Company
Hanover Insurance Group
Hudson Insurance Group
Interstate Insurance Management
Johnson and Johnson
Lancer Insurance Company
Mercury Insurance Group
National American Ins Co
National Interstate Insurance Co
Nat’l Truck Underwriting Mgrs.
Sagamore Insurance Co
Scottsdale Insurance Co
Star Insurance Company
State National Insurance Co
Stratford Insurance Company
Sutter Insurance Company
Swett and Crawford
Tower Ins. Co. of New York
TransProtection Service Co
U.S. Specialty Insurance Co
Wilshire Insurance Company
More coming soon! Did we an insurance company? Contact us to have us add it to the list.
Related: Is your truck insurance agent charging you hidden fees? (Coming Soon)