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The Best Commercial Auto Insurance Companies for 2022

Best Commercial Auto Insurance Companies

Commercial auto insurance is a crucial consideration for any business that owns and operates vehicles, from an independent plumber with a single van to companies with large fleets. Because commercial auto insurance is available from a wide variety of insurers, it can be confusing and difficult to figure out what kind of policy would best meet your company’s needs. 

To determine the best commercial auto insurance companies, AdvisorSmith considered a number of factors, including financial strength ratings from AM Best and Standard & Poor’s, customer satisfaction data from several J.D. Power studies, complaint ratings from the National Association of Insurance Commissioners, available features and options, and availability of information and ease of use of the insurers’ websites. We scored insurers out of a total of five points and only included those companies that scored 3.5 or higher.

The Best Commercial Auto Insurance Companies

RankCompanyAdvisorSmith Rating
1Progressive Commercial5.0 / 5.0
2Liberty Mutual4.9 / 5.0
3The Hartford4.7 / 5.0
4Geico4.7 / 5.0
5Auto-Owners4.6 / 5.0
6Travelers4.6 / 5.0
7Erie Insurance4.5 / 5.0
8State Farm4.5 / 5.0
9Allstate4.4 / 5.0
10Cincinnati Financial Group4.4 / 5.0
11Chubb4.4 / 5.0
12Nationwide4.4 / 5.0
13Great American4.2 / 5.0
14Farmers Insurance4.0 / 5.0
15CNA3.8 / 5.0
16Hiscox3.7 / 5.0

*Not all insurance companies provide coverage in all states.

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More on the Best Commercial Auto Insurance Providers

AdvisorSmith found and rated the best commercial auto insurance companies on a five-point scale, based on financial strength, customer satisfaction, ease-of-use, and a number of other factors. While many insurers were evaluated, only those with a score of over 4.5 are listed below.

5.0 / 5.0

Progressive Commercial is one of the top commercial auto insurers in the nation, with established experience insuring commercial vehicles. Progressive boasts an AM Best rating of A+ and a Standard and Poor’s rating of AA. With customizable coverage for autos, trucks, and trailers, Progressive is reliable and affordable for business owners. 

Progressive also offers Snapshot ProView, a program that helps users follow safe driving habits, with reductions to premiums for safer drivers. Businesses with three or more vehicles can also take advantage of free fleet management tools. The Smart Haul program provides similar benefits to for-hire truckers who use an electronic logging device.

  • Reliable and affordable
  • Offers a variety of coverage options
  • Pricing is based on your specific needs
  • You can get a quote online
  • Coverage can start quickly
  • Not great customer satisfaction ratings
  • Not available in all states
  • Missing some types of coverage you may need to protect your business

AdvisorSmith Rating For Progressive

» Learn more from Progressive Commercial.

» Read our Progressive Commercial Review.

4.9 / 5.0

Liberty Mutual is one of the largest property and casualty insurers globally and received A ratings from both AM Best and Standard & Poor’s. Liberty Mutual has a variety of commercial products tailored to small businesses, and the company was ranked above average in J.D Power’s customer satisfaction study for small commercial customers. 

Liberty Mutual offers benefits to its commercial customers, including risk control services that can provide safety training for drivers. For larger fleets, tools to monitor drivers’ habits with telematics information are available. Liberty Mutual also offers an app through which you can send photos of damaged vehicles and receive an estimate. 

  • Wide range of coverage options
  • Industry-specific solutions
  • The financial strength of a large company
  • Competitive pricing, depending on the company size
  • Premiums could be a bit pricey
  • You can’t get online quotes
  • No chat option on the website

AdvisorSmith Rating For Liberty Mutual

» Learn more from Liberty Mutual.

» Read our full review of Liberty Mutual.

4.7 / 5.0

The Hartford is a popular commercial insurer that has been given an A+ rating by both AM Best and Standard & Poor’s. The Hartford offers services such as analyses of your company’s driving records and recommendations on strategies to improve safety. If you use telematics systems, you may be able to use The Hartford’s FleetAhead program to help you identify potential causes of accidents and potentially save on your premium costs. 

  • Flexible, customizable business owner's policy
  • Quick online quote process
  • Clear explanations that define what’s covered and not covered under a plan
  • You can get a quote online, but you have to talk to an agent in order to complete a purchase
  • There are reported Workers Comp and FMLA claims issues
  • The Hartford does not do business in Alaska, Hawaii and New Jersey

The Hartford offers online claims reporting and works through a network of agents and brokers to sell its commercial coverage.

AdvisorSmith Rating For The Hartford 

» Learn more from The Hartford.

» Read The Hartford Commercial Review.


4.7 / 5.0

Geico earned an A++ rating from AM Best and an AA+ rating from Standard & Poor’s, indicating that it is in an extremely strong financial position. The insurer’s parent company ranked second in J.D. Power’s most recent customer satisfaction survey for large commercial insurers and was ranked 13th in J.D. Power’s 2020 U.S. auto insurance claims satisfaction survey. 

Geico provides convenient online auto insurance quotes and online policy access. It can customize policies for fleets of all sizes and covers most types of vehicles, including cars, vans, and trucks; however, it does not cover semi-trucks and tractor-trailers.

In addition to offering most standard auto insurance coverage options, Geico offers the option of combined single limits for liability coverage. Rather than having separate limits (maximum amounts of money that the insurer will pay for a single claim) for bodily injury claims and property damage claims, this type of policy gives a single limit that provides the same amount of coverage for an occurrence, regardless of property damage or injuries.

» Learn more from Geico.


4.6 / 5.0

Auto-Owners Insurance has a financial strength rating of A++ from AM Best. The company boasts high customer satisfaction ratings, coming third in J.D. Power’s 2020 survey of auto insurance claims satisfaction. 

It’s important to be aware that Auto-Owners Insurance is available in just 26 states. The company works through independent agents only, so you’ll need to contact an agent to get a quote from Auto-Owners. Auto-Owners policies automatically cover recently purchased vehicles. Policy options include roadside assistance coverage, loan or lease gap coverage, and more. 

Auto-Owners Insurance offers many discount options, including discounts for companies with multiple policies through the insurer, policies paid in full, and fleets monitored by telematics. There are also seasonal discounts available for vehicles used in farming.

» Learn more from Auto-Owners.

Brokers for Commercial Auto Insurance

Commercial auto insurance is offered by a wide variety of insurers, and this is one coverage area where it would be wise for business owners to shop around. Because coverage is generally quite similar between insurers and there is a much lower need for customizing this coverage for small businesses, insurers will want to compete on price for your business. A great way to compare prices is to use an online broker that can compile quotes from various insurers. Below, we’ve highlighted a few of the top brokers that offer commercial auto insurance.

Embroker is backed by Munich Re, a financially strong insurer with an A+ rating from AM Best and an AA- rating from Standard & Poor’s. Embroker offers online quotes and claims, in addition to assistance that is available 24/7 via live chat, email, or phone. Embroker also provides a personal account manager who can help with insurance needs.

Embroker Pros and Cons

As with any insurance provider, it’s essential to weigh the pros and cons of Embroker:

  • Instant quotes and online buying
  • Industry-specific coverage
  • Expert advisors
  • Real-time claims tracking
  • Low premiums
  • 24/7 customer service

  • Not as long-established as other companies
  • No official ratings available
  • No mobile app

AdvisorSmith Rating for Embroker

» Learn more from Embroker.

» Read our Embroker Commercial Review.

CoverageSmith is a leading online broker specializing in insurance for small businesses. The company provides a modern, tech-enabled solution for businesses, allowing them to quickly get the insurance they need, completely online, from some of the most trusted insurance carriers in the world, including Chubb, The Hartford, AIG, and CNA.

» Learn more from CoverageSmith.

CoverWallet is an online broker backed by Aon, an insurer with an A rating from AM Best. The company provides online quotes, assessments to help you understand what types of insurance your business needs, and online claims processes. CoverWallet also provides information and reading material on commercial auto liability. It may be possible to manage your pre-existing insurance policies through CoverWallet.

  • You can get free quotes from multiple insurance carriers
  • They offer many coverage options
  • You can create your own convenient bundle package
  • You can use their online tools to pay your premiums, file claims and download a certificate of insurance for free
  • While the platform is owned by AON it is not clear who is offering the policy you are requesting until the end of the application. CoverWallet is not a business insurer itself
  • You may have to call in to complete your application

AdvisorSmith Rating For CoverWallet 

» Learn more from CoverWallet.

» Read our CoverWallet Commercial Review.

How much does commercial auto insurance cost?

The premiums for a commercial auto insurance policy vary widely and depend on a number of factors. While most small businesses will pay less than $2,500 per vehicle per year, there is a great deal of variance.

Factors that may influence your premium include:

For many businesses, a minimum of $500,000-$1 million in commercial auto liability is appropriate. To supplement this liability, a commercial umbrella policy may also be appropriate to provide strong protection for your business.

What does commercial auto insurance cover?

Commercial auto insurance provides coverage for both liability and property. For vehicles that your business owns or leases, liability coverage is required for minimum amounts by most states. Property coverage protects the value of the vehicle your business owns or leases. If you have a lease or loan on your vehicle, the leasing company or bank may require you to have property coverage.

Commercial Auto Liability

The liability component of commercial auto insurance consists of bodily injury liability, property damage liability, and pollution cleanup. Commercial auto liability coverage protects your business if you or one of your employees causes injury or damage to another party while driving and are deemed to be at fault for the crash. The insurer will also help pay for the legal fees to defend your business in court.

Commercial Auto Property

The property component of commercial auto insurance, also known as physical damage coverage, protects the value of your vehicle. There are two coverages: collision and comprehensive.


In order to determine the best commercial auto insurance companies, AdvisorSmith considered a number of factors before making a final decision. We evaluated several factors such as an insurer’s financial strength, customer satisfaction, policy options, and ease-of-use.

Financial Strength

In order to be confident that our best picks would be able to pay out claims, we considered companies that had strong financial ratings from AM Best and Standard & Poor’s. These are two of the most reputable insurance rating agencies in the industry.

Customer Satisfaction

We looked at J.D. Power’s Small Business Insurance Study to see how commercial auto insurance companies scored in terms of customer satisfaction. This study polled business owners on their level of satisfaction with their insurer in a number of areas, including claims handling, billing and policy information, price, and more. AdvisorSmith also considered each company’s complaint index from the National Association of Insurance Commissioners (NAIC). This is a measure of the number of complaints an insurer receives relative to their size, and it helps us to identify which companies have the most satisfied customers.

Policy Options

To be sure that our best picks would offer good coverage options to businesses of all sizes, we looked for insurers that offered a variety of policy types. We also considered add-on coverages, such as roadside assistance and rental reimbursement, which can come in handy for business owners.


We visited each company’s website and rated them on their user-friendliness. We looked at factors such as whether we could easily find information on coverage options and discounts, as well as how easy it was to get a quote and purchase a policy.

Using our own proprietary scoring algorithm, we weighted the various factors based upon what we believe to be important for small and midsize business owners. Our algorithm outputted a score out of five total points. While we considered a number of commercial auto insurers, we only included in this article those companies that scored 3.5 or higher.

The AdvisorSmith rankings are based upon our editorial team’s quantitative and qualitative analysis, and they are intended to serve only as a guide for our readers. We encourage our readers to conduct their own research when selecting a commercial auto insurer, shop and compare quotes, and make a decision based on their own unique business needs. 

AdvisorSmith is in no way compensated for any of our reviews.

Expert Commentary

AdvisorSmith spoke with the following experts to provide critical insight on commercial auto insurance for business owners.

Joseph Roberts

  • Professor, Department of Management
  • Webster University
Joseph's Answers

Vladimir Dashkeev

  • Assistant Professor, Economics
  • Seattle University, Albers School of Business and Economics
Vladimir's Answers

Q. What can businesses do to lower their commercial auto insurance premiums?

Q. How should businesses think about balancing risk and affordability when it comes to commercial auto insurance?

Q. How should business owners think about insuring a vehicle for business versus personal use, especially for sole proprietors?

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