Owning a dump truck business is an excellent way to earn a decent living. But before you can get started, there are some things you need to consider about commercial dump truck insurance companies.
Progressive Commercial: Insurance You Can Trust
With over 50 years’ experience, you can count on Progressive Commercial to provide customized vehicle protection & excellent service at competitive rates!
Best Commercial Dump Truck Insurance Companies
Here are some of the top choices for commerical dump truck insurance on the market today.
- Best for the largest selection of policies: Progressive Commercial
- Best for low-cost small business coverage: biBerk
- Best for customizable commercial auto coverage: Infinity Insurance Agency (IIA)
- Best for customer satisfaction: State Farm
- Best for new drivers and companies: Nationwide
- Best for high-risk drivers: The Hartford
- Best for new owner-operators: Marquee
Progressive Commercial
- Best for: Largest Selection of Policies
- Online Quotes: Yes
Founded in 1937, Progressive is regarded as one of the best commercial trucking insurance companies today. In 2020, they wrote the highest number of insurance policies in the U.S. Due to its financial strength ratings and strong reputation, Progressive is a reliable commercial trucking insurance provider.
Coverage Options:
- Primary liability
- Non-trucking liability
- On-hook towing
- Trailer interchange
- Rental reimbursement
Special Features:
- Various discounts for businesses that are 3+ years old
- Smart-Haul program for drivers who use ELDs
- CDL discount program
- Snapshot program that provides discounts
Pros & Cons:
Pros:
- Easy online or over-the-phone quotes
- A+ rating from A.M. Best for financial strength
- AA rating from Moody’s and S&P for meeting financial requirements
- A+ rating with the BBB
Cons:
- Slightly low customer satisfaction scores
- Only 57% of customers were satisfied with claim resolution
- Customers complained about the agent’s lack of professionalism
- Roadside assistance is not always reliable
biBerk Commercial Auto
- Best for: Direct, low-cost small business coverage
- Online Quotes: Yes
biBerk is a direct-to-business small commercial insurer that’s part of the Berkshire Hathaway Insurance Group. Its commercial auto insurance is built for companies that own or lease vehicles for work, including transportation and for-hire trucking operations. By selling policies online without brokers and leveraging Berkshire’s A++-rated carriers, biBerk markets savings of up to about 20% versus many traditional providers while still offering solid financial strength and claims-paying experience.
Coverage Options:
- Bodily injury liability
- Property damage liability
- Medical payments / personal injury protection (varies by state)
- Uninsured / underinsured motorist coverage
- Collision coverage for covered vehicles and listed trailers
- Comprehensive coverage for theft, vandalism, fire, flood, and other non-collision losses
- Coverage available for many vehicle types, including cars, pickup trucks, SUVs, vans, box trucks, truck tractors, dump trucks, food trucks, service trucks, and trailers
Special Features:
- Direct-to-you model with no brokers, marketed as up to ~20% less than some competitors
- Fast online quotes with the ability to buy a policy and get proof of insurance entirely online
- Backed by Berkshire Hathaway Insurance Group companies with A++ (Superior) ratings and decades of experience
- Designed for small businesses across many industries, including transportation and for-hire trucking
- Covers a wide range of business vehicles, from sedans and pickups to box trucks, truck tractors, and certain trailers
- Commercial auto available in most U.S. states, with an online coverage map to confirm state availability
Pros & Cons:
Pros:
- Potential savings of up to about 20% thanks to direct, no-broker pricing
- Strong financial backing (Berkshire Hathaway Insurance Group, A++ by A.M. Best and AA+ by S&P)
- Online quote, purchase, certificates/ID cards, and claims reporting
- Commercial auto programs that specifically include for-hire trucking and transportation businesses
- Covers a broad mix of vehicles, including heavy trucks and many types of trailers
Cons:
- Hired and non-owned vehicles (employee-owned or borrowed vehicles) are not covered under the commercial auto policy and require a separate HNOA add-on to a general liability or BOP policy
- Trailer liability is automatic only for very light trailers; heavier trailers and full physical damage coverage must be specifically added and approved
- Not available in every single state; you have to check the coverage map for your location
- Direct online/phone service instead of a local in-person agent, which some trucking businesses prefer
Infinity Insurance Agency (IIA)
- Best for: Customizable commercial auto coverage
- Online Quotes: Yes (online estimate form)
Infinity Insurance Agency, Inc. (IIA) is an insurance agency that works with multiple insurers to arrange commercial auto coverage for business-use vehicles. With more than 20 years of experience, IIA focuses on helping business owners protect company cars, trucks, and vans used for tasks such as visiting job sites or making deliveries. Their commercial policies can be tailored to different business types and vehicle fleets and often include higher liability limits than a standard personal auto policy.
Coverage Options:
- Collision coverage that may help repair your vehicle after a covered crash with another vehicle or object
- Comprehensive coverage that can help with covered non-collision losses such as theft, vandalism, certain weather events, or animal-related damage
- Uninsured/underinsured motorist coverage that may help with losses if a driver with little or no insurance causes a covered accident
- Medical payments (MedPay) and/or personal injury protection (PIP) in eligible states to help with medical costs from covered accidents
- Coverage that can extend to certain attached trailers, depending on the specific unit and occupation of the insured
Special Features:
- Pricing and coverage options geared toward small and medium-sized businesses
- Ability to expand or adjust coverage as your business or vehicle fleet grows
- Partner carriers that can accept foreign driver’s licenses
- Policy flexibility for drivers who do not have perfect driving records
- Potential discounts through partner insurers for paying in full, prior coverage, general liability policies, multiple insured vehicles, and prior business experience
- Multiple payment options, including recurring card payments, with support from Spanish–English bilingual agents
Pros & Cons:
Pros:
- Works with over 20 insurers, giving flexibility to match coverage and pricing to different business needs
- Covers a wide variety of commercial vehicles, including pickups, cargo vans, full-size vans, flatbed/straight trucks, and certain trailers
- Can insure a single business vehicle or a small-to-midsize fleet
- Offers options for collision, comprehensive, uninsured/underinsured motorist coverage, and, where offered, MedPay or PIP
- Provides bilingual Spanish–English agents and educational resources to help business owners understand coverage and requirements
Cons:
- Products, services, and discounts are not available in all states or through all underwriting companies
- Coverage and discounts are subject to underwriting qualifications, policy terms, conditions, and exclusions
- Because IIA places policies through multiple carriers, specific features and service options can vary depending on the insurer that issues the policy
State Farm
- Best for: Customer Satisfaction
- Online Quotes: No
As a Fortune 500 company, State Farm is the largest U.S. provider of home and auto insurance. They provide comprehensive insurance coverage with discount options when possible.
State Farm also offers discounts for vehicles that have safety or anti-theft features. The policy can be bundled with other business coverage for additional savings.
Overall, State Farm provides a comprehensive, affordable policy backed by solid customer service.
Coverage Options:
State Farm offers standard commercial truck insurance options such as:
- Bodily injury
- Property damage liability
- Personal injury
- Comprehensive
- Collison
- Uninsured/underinsured motorist coverage
Special Features:
- High customer satisfaction ratings
- Rated as an A+ business with the BBB
- AA financial rating from Standard & Poor’s
- Carries an A++ rating for financial strength from A.M. Best
Pros & Cons:
Pros:
- Offers coverage for drivers and the freight being hauled
- Discount options for lower premiums
- Best reputation of any commercial trucking insurance company
- Wide range of policy options for all trucker’s needs
Cons:
- Does not offer online quotes
- Potential customers must speak with a rep to get a quote
- Offers only basic coverage
- Not accredited by the BBB despite a high rating
Nationwide
- Best for: New Drivers and Companies
- Online Quotes: Yes
Founded in 1926, Nationwide is one of the oldest insurance companies in the U.S. They have local branches all across the nation, making it easy for customers to get in touch with their reps.
Nationwide is a good choice when it comes to lower costs and solid discounts on dump truck insurance.
Vehicle Types:
- Box trucks
- Pickups
- Utility trucks
- Farm trucks
Coverage Options:
- Liability
- Medical payments
- Motor truck cargo
- Uninsured/underinsured motorist coverage
- Collision/comprehensive
Special Features:
- BBB accredited since 1955
- Above-average customer satisfaction rating
- A+ rating from the BBB for fair business practices
- Carries an A+ rating from A.M. Best and S&P
Pros & Cons:
Pros:
- A+ ratings for financial strength
- Excellent credit ratings
- Strong history of paying claims promptly
- Discounts for paying the annual premium in full
Cons:
- Does not provide coverage for semi-trucks or tractor-trailers
- Low customer satisfaction rating with J.D. Powers
- Slow response to customer inquiries
- Delays in paying claims
The Hartford
- Best for: High-Risk Drivers
- Online Quotes: No
The Hartford is one of America’s oldest insurance companies. Founded in 1810, it began doing business as a fire insurance provider. Today, it is a Fortune 500 company providing insurance for more than one million businesses.
The Hartford will customize a policy to meet the specific needs of a commercial trucking business and offers a variety of plan options to make sure customers get the best coverage for their needs.
Coverage Options:
- Liability
- Property damage
- Uninsured/underinsured motorist coverage
- On-hook towing
- Trailer interchange
- Cargo
- Livestock transit
- Property in transit
Special Features:
- 200+ years of outstanding reputation
- A+ rating from the BBB
- Top performer in customer satisfaction
- J.D. Power rating of 868 out of 1,000 for customer service
Pros & Cons:
Pros:
- A Fleet Ahead program to help fleet managers improve safety
- Excels in meeting financial obligations on claims
- Customized policies to meet the needs of any company
- Emphasizes efficiency and safety
Cons:
- Ranks as average in overall client satisfaction
- More than average complaints about home and auto insurance
- Slow response to customer calls or emails
- High rates for younger drivers
Marquee
- Best for: New Owner-Operators or Fleet Managers
- Online Quotes: No
Marquee Insurance Group is a good choice among the many commercial dump truck insurance companies because they specialize in trucking insurance.
Marquee Insurance Group is a relatively new company founded in 2014. Their objective is to provide exceptional customer service and transparency.
Coverage Options:
- Primary liability
- Physical damage
- General liability
- Motor truck cargo
- Non-trucking liability
- Occupational accident
- Worker’s compensation
Special Features:
- Partnerships that help bring additional perks to carriers
- Best customer reviews
- Customized policies for owner-operators or fleet managers
- Best Google reviews for insurance companies
Pros & Cons:
Pros:
- 24/7 online access to your Certificate of Insurance
- Waives the waiting period
- More underwriters for better rates
- Responsive customer service
Cons:
- Doesn’t provide coverage in all states
- Slow response to customer calls
- Not BBB accredited
- Must speak with an agent to get a quote
What Is Dump Truck Insurance?
Dump truck insurance is a specialty coverage. It is designed for companies that operate dump trucks to haul sand, gravel, rock, dirt, asphalt, and other loose materials. It falls under the broader category known as commercial automobile insurance.
How Does Dump Truck Insurance Work?
Motor carriers, private carriers, and owner-operators are required to have commercial vehicle insurance before operating their vehicles. This coverage protects individuals from financial losses due to accidents.
When choosing commercial vehicle insurance, the purchaser must decide the amount of coverage needed, the monthly premium, deductible, and policy limits.
The insurance company will pay for repairs, damages, and medical or legal expenses associated with a covered incident. When a claim is made, the insured must pay the deductible before the company will pay the remaining expenses.
Commercial dump truck insurance is beneficial because it covers drivers, passengers, vehicles, and cargo through primary and general liability, medical payments, collision, and more.
Which Factors Affect the Price of Dump Truck Coverage?
Dump truck insurance rates vary for many reasons. Some of the things that affect the cost of coverage may include:
- The state in which the vehicle is registered
- Driving record and accident history
- Value of the vehicle
- Type and value of the load being transported
- Route and distance traveled
- Bundled or single policies
- Where the vehicle is kept when off duty
Comparing quotes is a good way to get the best commercial truck insurance without unnecessary costs.
What to Consider with Dump Truck Insurance
Knowing the types of coverage available is the first step in choosing the best provider and policy. Here are some things to consider when choosing dump truck insurance:
Coverage Options
Insurance requirements vary by state, and each company differs in the type of coverage they provide. A state may not require specific coverage, but truckers should have it for their own protection.
Types of Trucks and Hauls Covered
Expensive trucks with advanced features warrant higher premiums for coverage. Each vehicle carries a different risk profile that can affect the costs of repair and cause higher premiums.
Also, the type of freight hauled influences the insurance premium. HIgh-value loads hauled over long distances are more expensive to cover.
Deductibles
The deductible has a direct effect on the insurance premium. A higher deductible is the best way to save money on monthly premiums. But this is risky because it means paying more money out of pocket before the insurance pays out.
Monthly Premium
Getting the lowest rate is not always beneficial if it means missing out on important coverage. A low monthly premium and adequate coverage is possible but will require doing some research to compare quotes and coverages.
Policy Limit
Policy limits reflect the actual maximum cash amount the insurance company will pay out for a claim. Policies with lower limits have lower monthly payments. It’s not always necessary to choose the highest policy limits offered by a provider. Business owners should stick with the lowest limits that provide the coverage they need without extra costs.
Load Destination
Truckers with a large operating radius may pay more for insurance due to longer travel times between stops. A driver who unloads locally, including at landfills or transfer stations, will pay less for insurance.
Provider's Financial Standing
A company’s financial standing affects its ability to pay claims now or in the future. Insurance companies with high financial ratings may require higher premiums. But they are more capable of meeting their obligations. Information is available about a company’s financial standing at A.M. Best, Standard & Poor’s, or Moody’s.
FAQ
Do You Need Commercial Insurance For a Dump Truck?
Commercial insurance is mandatory in most states for all commercial vehicles, including dump trucks. Because these heavy vehicles can cause significant damage, insurance is essential.
What Type of Insurance Do You Need for a Dump Truck?
Basic dump truck insurance is sufficient in many cases. Additional coverages are available to customize the policy for your company’s specific needs.
How Much Is Dump Truck Insurance?
The cost varies based on factors like truck size, materials hauled, driver experience, and operating radius. On average, owner-operators pay between $2,500 and $8,000 per year for a single dump truck.
