5 Best Owner-Operator Truck Insurance Providers in New York

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commercial truck insurance

Commercial logistics and transport entail a potential number of dangers. According to a report, every year, more than 100,000 individuals are wounded in truck accidents. And over 75% of these incidents end in merely property damage, with the remaining 20% involving injury to people or truck drivers. Fatal crashes with trading trucks in New York may be pricey, with an average settlement of roughly $60,000 for a commercial vehicle accident. Nevertheless, obtaining commercial truck insurance can move those costs off from both you and your business.

You may cover your liabilities and minimize your damages in the case of a covered risk with the correct commercial truck insurance coverage. However, while looking for truck insurance providers, you may encounter a plethora of truck insurance possibilities. They range from modest enterprises that provide coverage for sole entrepreneurs to well-known large corporations that provide coverage alternatives to millions of business owners across the country.

To help you in your journey of finding the finest one, we’ve curated a list of the best 5 truck insurance providers in New York. These shortlists are based on reputation, numerous coverage choices, customer testimonials, and other factors to assist you in selecting the best insurance for your trucking business.

Let’s dive into them.

Uncover the Best Commercial Truck Insurance Coverage for Your Business!

Before you start looking for the finest insurance provider in New York, you should first assess your company’s demands and then select the appropriate truck insurance for yourself. The following are the most frequent commercial vehicle insurance coverages:

Property Damage Liability: If you are found responsible for an accident, property damage liability pays for harm to the other party’s assets, such as their vehicle.

Bodily Injury: In the event of you being guilty, this coverage covers the physical injury expenses caused to the victims.

CSL Coverage: It covers both bodily injury and property damage claims.

Collision Insurance Coverage: It covers the damage caused when your truck collides with another vehicle or an object, such as a pole.

Comprehensive Insurance Coverage: It covers damage caused by natural calamity, fire damage, falling items (such as trees), or theft.

Medical Insurance Coverage: Regardless of who was responsible, medical payments and personal injury protection pay for your and your traveler’s medical treatment.

Uninsured Motorist Coverage: If you are hit by an uninsured driver, your uninsured motorist coverage will cover your injuries as well as those of your passengers.

Furthermore, legal fees in the event that a party sues you as a result of an accident are covered by many truck insurance policies.

Best Commercial Truck Insurance Providers in New York

NITIC

If you are looking for owner operator truck insurance, NITIC is our top option for commercial truck insurance in New York. It was created in 2001 with the goal of providing independent truck drivers and owner-operators and fleets with reasonable truck insurance and is presently allowed to underwrite policy in 48 states.

They have a large staff of insurance experts who are all professionals in business and transportation coverage and are well-versed in the changing needs of the federal government, transportation brokers, and freight forwarders.

Key Features:

  • AM Best, an impartial insurance strength business, has given it a solid financial strength rating.
  • Offers a wide range of coverages including Trailer exchange, tow truck coverage, general liability policy, comprehensive coverage, physical damage, trailer-interchange insurance, and more.
  • Excellent pricing and payment choices that are expandable.
  • To report a claim, the process is simple and excellent.
  • Above 95% consistent claim settlement ratio.

Progressive

Progressive is another reliable commercial truck insurance provider, accounting for more than 11% of the entire market, based on a commercial insurance survey. The reason is the firm’s agility and competence in the commercial truck insurance sector.

They provide commercial truck insurance in all states and cover a broad range of trucks, including trash trucks, tractor-trailers, dump trucks, construction trucks, and more.  They even promote transparent pricing and internal claim handling.

However, reports indicate that it might be tough to reach a genuine representative if you run into issues or have problems due to their poor customer service.

Key Features:

  • Insurance is available for a wide range of trucks, such as semi-trucks, heavy-duty trucks, tow trucks, and others.
  • Tailor your commercial trucking insurance to safeguard your company against unexpected financial pressure.
  • More than 30 different forms of liability coverage are available.
  • Can be accessible across the whole United States.
  • Not sure which form of insurance to get? Use the useful tools they provide to assess the insurance that best meets your requirements, the risk involved with this, and the possible discounts.

Lancer Insurance

Lancer Insurance Company is a trustable provider of premium specialist liability insurance services to industrial trucking sector-specific areas, including commercial fleets in New York for 35+ years, utilizing a network of over 2,000 broker connections.

Whether moving vehicles from Detroit to Plano or veggies from Napa to Nashville, they are dedicated to delivering professional miles and miles. Their knowledge of the small fleet and operator trucking firms is unparalleled.

Key Features:

  • Available in every state in the United States, in addition to Washington, DC, and Puerto Rico.
  • Take advantage of live chat support from insurance specialists.
  • Specialized business insurance plans.
  • To help their consumers, they provide more coverage at lower prices, as well as outstanding claim processing.
  • Free 24-hour access to driving training video packages, and a safe driving advisory.

CoverWallet

Regardless of the premise that CoverWallet is an insurer aggregator rather than a single insurance carrier, this platform allows commercial truckers to purchase insurance for their fleets fast and conveniently online. This company has received the award for the best value by allowing customers to acquire instant quotes from many carriers for a number of truck insurance options.

With the use of AI, CoverWallet promises to make the task of getting insurance for companies easier. They provide quotes in seconds for main liabilities, physical injury, worker’s compensation, bobtail, freight, comprehensive, and under-insured motorist.

Key Features:

  • Insurance professionals are available via phone, chat, or email 24*7.
  • Request and track insurance certificates.
  • Online, you may get fast coverage quotations.
  • Compare the insurance plans to those offered by other insurers to ensure that your company is adequately insured with them.
  • With negative credit or a terrible driving record, coverage is accessible, but the rates are very high.

Chubb

Chubb, another leading commercial truck insurance provider, is one of the best solutions for truck businesses no with worldwide operations. They have regional agents in several countries that can help clients develop customized commercial truck insurance solutions.

Chubb also goes over and beyond for its consumers, with an easy-to-use website, a huge number of middlemen, and high policy limits. Furthermore, the company does not offer online quotations, but its website allows customers to lodge claims and see their accounts.

Key Features:

  • Extraordinary customer service by phone, internet, or agent.
  • Property liability, main liability, worker’s compensation, and other policy coverages are available.
  • Have a high financial strength rating, showing that they can satisfy your responsibilities without acquiring debt.
  • They are both covered by commercial policies that are sector and business specific.

Finally, how can you select the finest truck insurance company in New York?

Truck owner-operator should consider many factors while seeking the finest commercial truck insurer. The very first step is to identify the firm’s needs and risks. You may then check into various insurance providers, compare their prices and coverages, and choose the one that best meets your needs.

To begin, our list of the leading five commercial truck insurance providers in New York may help you select the best coverage as per your needs.

We hope that our article was useful in identifying reliable options for your trucking business.

Please leave any questions concerning the aforementioned facts in the comments section.

We would be glad to assist you.

Read Also : 7 Benefits of Business Insurance Coverage