Auto insurance

Commercial auto insurance companies for high-risk drivers [Best & Cheapest]

Driving a vehicle is common for people in many professions. Depending on the type of job you have, you may need to purchase a commercial auto insurance plan. While this is the norm for all motorists who have to drive for work, those who are perceived to be at higher insurance risk may find it harder to obtain coverage and pay even higher premiums. There’s a lot to understand about commercial auto insurance for high-risk drivers.

What classifies you as a high-risk driver?

Woman making a choice between alcohol 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 various features that an insurance company would perceive as riskier. In general, those with poor driving records 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 influence your perception of risk include the type of vehicle you drive, the number of miles you intend to drive each year, and your location.

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Who is considered the highest risk of all?

man holding beer and using smartphone while driving

Although insurance companies rank drivers based on a variety of factors, inexperience is often considered the biggest risk of all. Teenagers and young adults who drive will not have the same experience as someone who has been driving for decades. Additionally, they tend to be more reckless in their driving actions. If you are a young driver and have a history of travel violations, you may fall into the highest risk category

What if I’m considered a high-risk driver?

women yawning while driving a truck

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

Even if you are considered a high-risk driver, there are still plenty of companies that might 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 include:

Most Affordable Commercial Auto Insurance Providers for Those Considered High-Risk Drivers

progressive

Progressive Insurance continues to be a preferred option for high-risk commercial drivers. They offer policies that are scaled down to meet the needs of commercial drivers and have different plans depending on your situation. They are known to be flexible in their underwriting to help you build a quality plan that meets your needs.

progressive

Next Insurance

Next Insurance Company is one of the newest and youngest insurance providers as they were only established in 2015. However, they have developed a niche in the field and have a reputation for offering creative insurance solutions for small businesses. This includes helping businesses and independent contractors obtain quality commercial auto plans, even if they are considered higher risk.

Next Insurance

Geico

This company is one of the nation’s leading auto insurance providers and has a division that specializes in offering plans to commercial drivers. This includes offering specific commercial automobile plans used by ride-sharing services, limos, and other services designed to help transport people.

Geico

AllState

AllState continued to be a leading provider of various consumer and commercial insurance products. They offer a variety of commercial auto insurance plan options for high-risk drivers that could be used by someone to purchase a quality policy. Company size and reputation are an advantage, but they may not be as price competitive in some situations.

AllState

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 transportation, shipping, and logistics. They know the risks commercial auto owners face and can provide the support you need to ensure you get the ideal policy that will meet your needs.

state farm

Automobile owners insurance

Although this company may not be as recognizable as others, Auto-Owners Insurance is an excellent provider of commercial auto insurance. The company has a very high AM Best rating, which will reassure you that it has the financial resources to handle claims. They also have a low complaint rate, which is a testament to solid customer service.

Automobile owners insurance

Old Republic

Old Republic Insurance Company has a solid AM Best rating and a reputation for top-notch customer service. They will offer you various solutions that you can take advantage of to properly insure your utility vehicles. This includes plans for truckers and ride-sharing contractors.

Old Republic

Biberk

The team with Biberk has been providing advertisements for over 75 years. They are one of the leading providers of commercial auto insurance for high risk drivers. BiBerk has a good reputation for service and reliability and can provide flexible car insurance policies in markets nationwide.

Biberk

At national scale

Nationwide Insurance Company is a popular provider of all car 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 your coverage needs. It’s a great company with a reliable customer service team.

At 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 various risks, including higher levels of accidents, theft, and state regulations. Typical high-risk auto insurance rates for drivers in certain focus states are as follows:

State The description
California In Californiahigh-risk commercial auto insurance can cost up to $1,800 per year.
Texas Texas commercial auto rates for high-risk drivers can go up to $2,500 per year.
Florida Florida drivers can expect to spend more on the commercial automobile with fares of up to $3,000 per year.
New York New York high-risk drivers will spend between $2,500 and $3,500 per year for commercial auto coverage.
Illinois Illinois has an average commercial auto insurance cost for high-risk drivers of $2,000.
Kentucky Average cost of commercial auto insurance for high-risk drivers in Kentucky is about $1,800.
Minnesota Minnesota has an average commercial auto insurance cost for high-risk drivers of $1,900.
Georgia Georgia drivers will spend about $2,000 a year on commercial auto coverage if they are considered high risk.

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

Man talking on the phone while driving

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

Compare the prices

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, many companies are willing to offer high-risk commercial auto insurance. Since no company has the same underwriting process, you may get a lower rate from one company to another. You can always get quotes from multiple companies and compare rates to get the best deal possible.

Assess insurance needs

It would also be a good idea to carefully assess your insurance needs. No two commercial drivers will have the same coverage needs. When looking for coverage, you need to 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 insurer, which will lead to lower premiums.

Check coverage frequently

If you go for a period without an accident or incident, it will improve your driving history from the insurance company’s point of view. Generally, 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 car packages with lower rates.

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