Commercial Vehicle Insurance Companies For High Risk Drivers [Best & Cheapest]

Driving a vehicle is common for people in many professions. Depending on the type of business you are in, you may need to get a commercial auto insurance plan. While this is standard for all drivers who must drive for their job, those who are perceived as a higher insurance risk may face a harder time getting coverage and subsequently pay even higher premiums. high. There is a lot to understand about commercial auto insurance for high-risk drivers.

What classifies you as a high risk driver?

The woman makes a choice between drinking and driving

The term “high risk driver” can be somewhat vague and difficult to define. However, when it comes to commercial auto insurance, there are different characteristics that an insurance company would perceive as more risky. In general, those with a poor driving record will be considered higher risk. If you have a history of moving violations, have been cited for driving under the influence, or have been involved in a number of car accidents, you will be considered a higher risk driver. Other factors that can affect your perceived risk include the type of vehicle you drive, how many miles you intend to drive each year, and your location.

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Who is considered the highest risk of all?

man holding a beer and using smartphone while driving

While insurance companies will categorize drivers based on a number of factors, inexperience is often considered the most important risk of all. Teens and young adults behind the wheel will not have the same experience as someone who has been driving for decades. Additionally, they tend to be more reckless with their driving actions. If you are a younger driver and have a history of driving offences, you may be at higher risk

What happens if I am considered a high risk driver?

women yawning while driving a truck

If you are considered a high-risk driver, insurance companies will take extra precautions when it comes to getting you insurance coverage. In some situations, an insurance company may deny coverage entirely. However, in others, they may try to offset and compensate for higher insurance risks by charging higher premiums, offering reduced levels of coverage, or requiring you to pay a higher deductible.

Even if you are considered a high-risk driver, there are still many companies that may be willing to offer you a quality policy. Some of the best companies to work with when looking for commercial auto insurance for high risk drivers are as follows:

The most affordable commercial auto insurance providers for those considered high risk drivers

Progressive

Progressive Insurance continues to be a top option for high-risk commercial drivers. They offer policies that are limited to meet the needs of commercial drivers and have different plans based on your situation. They are known for being flexible in their underwriting to help create a quality plan that meets your needs.

Progressive

Next security

Next Insurance Company is one of the newest and newest insurance providers as they were not established until 2015. However, they have developed a niche in the field and have a reputation for creating creative insurance solutions for businesses. small. This includes helping businesses and independent contractors get quality commercial vehicle plans, even if they are considered higher risk.

Next security

Geico

This company is one of the leading auto insurance providers in the country and they have a division that specializes in providing plans for commercial drivers. This includes offering specific commercial vehicle plans used by ride-sharing services, limos, and other services that are designed to help transport people.

Geico

All State

AllState has continued to be a leading provider of a variety of consumer and commercial insurance products. They offer a variety of commercial auto insurance plan options for higher risk drivers that can be used by one to access a quality policy. The size and reputation of the company is an advantage, but they may not be as competitive when it comes to price in some situations.

All State

State Farm

The State Farm team is known for offering many types of commercial insurance plans. Their commercial auto policies are available for a variety of business functions, including shipping, transportation and logistics. They have knowledge of the risk that commercial vehicle owners face and can provide the necessary support to ensure that you get the ideal policy that will meet your needs.

State Farm

Auto-Owners Insurance

While this company may not be as well known as others, Auto-Owners Insurance is an excellent commercial auto insurance provider. The company has a very high AM Best rating, which will give you comfort that they have the financial resources to handle claims. They also have a low complaint rating, which is a testament to their strong customer service.

Auto-Owners Insurance

The Old Republic

Old Republic Insurance Company has a solid AM Best rating and a reputation for superior customer support. They will offer various solutions that you can take advantage of to properly insure your commercial vehicles. This includes plans for truck operators and ride-sharing contractors.

The Old Republic

May you be blessed

The team at Biberk has been providing advertising for over 75 years. They are the leading provider of commercial auto insurance for high risk drivers. BiBerk has a good reputation for service and reliability and can offer flexible auto insurance policies in markets across the country.

May you be blessed

On a national scale

Nationwide Insurance Company is a popular provider of all auto insurance plans. This includes commercial plans designed for high-risk drivers. They will help you build an ideal plan based on your type of business and coverage needs. They are a great company with a reliable customer service team.

On a national scale

Commercial auto insurance rates for high risk drivers by state

The price you pay for commercial auto insurance if you are a high-risk driver will vary depending on your state and location. The cost in each state varies based on different risks including higher rates of accidents, theft and state regulations. Typical high risk auto insurance rates for drivers in some target states are as follows:

State Description
California IN Californiahigh risk commercial vehicle insurance can cost up to 1800 dollars per year.
TEXAS TEXAS Commercial vehicle rates for high risk drivers can go up to 2500 dollars per year.
Florida Florida drivers can expect to spend more on commercial vehicles with rates ranging up to 3000 dollars per year.
New York New York High-risk drivers will spend between $2,500 and $3,500 per year on commercial vehicle coverage.
Illinois Illinois there is an average cost of commercial vehicle insurance for high risk drivers of 2000 dollars.
Kentucky The average commercial cost of auto insurance for high risk drivers in Kentucky is around 1800 dollars.
MINNESOTA MINNESOTA there is an average cost of commercial vehicle insurance for high risk drivers of 1900 dollars.
Georgia Georgia drivers will spend about $2,000 a year on commercial vehicle coverage if they are considered high risk.

What can I do to lower my commercial auto insurance costs?

Man talking on the phone while driving

If you’re a high-risk driver, you may quickly find that the costs for coverage add up quickly. Fortunately, there are ways you can reduce your total costs.

Shop around

One of the most important tips to follow when looking for any type of insurance plan is to shop around. Like any other type of insurance, there are many companies willing to offer high risk commercial auto insurance. Since no two companies have the same underwriting process, you may get a lower rate from one company than another. You can always get quotes from multiple companies and compare rates to get the best possible deal.

Assess insurance needs

It would also be a good idea to carefully evaluate your insurance needs. No two commercial drivers will have the same needs when it comes to coverage. While shopping for coverage, you should consider the type of coverage, insurance limits, your deductible, and other factors. By reducing your coverage or accepting a higher deductible, you can reduce the risk to the insurance provider, which will result in lower premiums.

Check for coverage often

If you go for a period of time without any accidents or incidents, it will improve your driving history from the perspective of the insurance company. In general, insurance policies last for 6 months, but can be canceled at any time by the insured. By checking rates every few months, you may find that you are less risky and may qualify for standard commercial vehicle plans that come with lower rates.

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