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

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 are in, you may need to purchase commercial auto insurance. While this is standard for all drivers who have to drive for work, those considered to be at higher insurance risk may find it harder to get coverage and then pay even higher premiums. There is much that needs to be understood about commercial auto insurance for high-risk drivers.

What would you classify 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 several characteristics that an insurance company considers more risky. Generally, those with poor driving habits will be considered a higher risk. If you have a history of traffic violations, have been cited for drunk driving, or have been involved in a number of car accidents, you are considered a higher risk driver. Other factors that can influence your perceived risk include the type of vehicle you drive, the number of miles you plan to drive per year, and your location.

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Who is considered the greatest risk of all?

man holding a beer and using smartphone while driving

While insurance companies classify drivers based on a variety of factors, lack of experience is often considered the most important risk of all. Teens and young adults who are behind the wheel will not have the same experience as someone who has been driving for decades. Furthermore, they are generally more reckless with their driving. If you are a younger driver and have a history of traffic violations, you may be most at risk

What happens if I am considered a high risk driver?

women yawn while driving a truck

If you are considered a high risk driver, the insurance companies will take extra precautions when it comes to providing insurance coverage. In some situations, an insurance company may deny coverage completely. In other countries, however, they may attempt to offset and offset the higher insurance risks by charging higher premiums, offering lower 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 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:

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

Progressive

Progressive Insurance remains 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 acceptance to help create a quality plan that meets your needs.

Progressive

Next insurance

The Next Insurance company is one of the newest and youngest insurers as they were only founded in 2015. However, they have developed a niche in the field and have a reputation for coming up with creative insurance solutions for small businesses. This includes helping businesses and independent contractors get high-quality commercial car plans, even if they’re considered higher risk.

Next insurance

Geico

This company is one of the best auto insurance providers in the country and they have a department that specializes in giving plans to commercial drivers. This includes offering specific commercial car plans used by rideshare services, limousines and other services designed to help transport people.

Geico

All state

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

All state

state farm

The State Farm team is known for offering many types of commercial insurance plans. Their commercial car policies are available for a variety of roles, including transportation, shipping, and logistics. They are well versed in the risks faced by commercial vehicle owners and can provide the support needed to ensure you get an ideal policy that meets your needs.

state farm

Car owners insurance

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

Car owners insurance

Old Republic

The insurance company Old Republic has a solid AM Best rating and a reputation for excellent customer support. They offer various solutions that you can use to properly insure your company cars. This includes plans for truck drivers and carpool companies.

Old Republic

biberk

The team with Biberk has been providing commercials for more than 75 years. They are a 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 in markets across the country.

biberk

rural

The 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 create an ideal plan based on your type of business and coverage needs. They are a large company with a reliable customer service team.

rural

Commercial Vehicle Insurance Rates for High-Risk Drivers by State

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

State Description
California In CaliforniaCan high-risk commercial auto insurance cover up to $1,800 per year.
Texas Texas commercial car rates for high-risk drivers can be as high as $2,500 per year.
Florida Florida drivers can expect to spend more on commercial cars with rates as high as $3,000 per year.
New York New York high-risk drivers 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 commercial auto insurance costs for high-risk drivers in: Kentucky is nearby $1800.
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 for commercial car 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 are a risk driver, you will quickly notice that the costs for coverage add up quickly. Fortunately, there are ways you can lower your overall costs.

Shop

One of the most important tips to follow when looking for an insurance plan is to shop around. As with any other type of insurance, there are many companies that want 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 the other. You can always get quotes from multiple companies and compare rates to get the best deal possible.

Evaluating insurance needs

It’s also a good idea to carefully evaluate your insurance needs. No two commercial drivers will have the same needs when it comes to coverage. As you look for coverage, consider the type of coverage, insurance limits, your deductible, and other factors. Lowering your coverage or accepting a higher deductible can reduce the risk to the insurer, resulting in lower premiums.

Check regularly for coverage

Driving a period without accidents or incidents improves your driving history from the perspective of the insurance company. In general, insurance policies have a term of 6 months, but they can be canceled by the insured at any time. By checking the rates every few months, you can find that you are less risky and eligible for standard commercial car plans with lower rates.

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