HOME > ARTICLES > BUSINESS INSURANCE > BEST CAR HAULER INSURANCE

Best Car Hauler Insurance

By

Bryan Huynh

- Updated February 23, 2024

Best Car Hauler Insurance

As someone who works in car hauling, you face risks that are both unique and expensive. The size and weight of car haulers can make them difficult to maneuver, which increases the likelihood of accidents. Additionally, the vehicles you transport are often costly and their value tends to increase over time due to inflation, making them attractive targets for theft.

To mitigate these risks, it's important to have proper car hauler insurance coverage. While I am not able to provide specific recommendations or financial advice, I can suggest that you research and compare business insurance options to find the best coverage for your needs. This article may be a helpful resource as it outlines some of the top car hauler insurance companies and provides information on what to consider when choosing a policy.

hay-truck

Who Needs Car Hauler Insurance?

If you're involved in transporting vehicles, either as a business owner or as part of your job, you may require car hauler insurance. Standard personal or commercial vehicle policies typically don't cover commercial activities such as car hauling, so it's important to obtain specialized insurance coverage.

Vehicles can be quite expensive, and the specialized equipment used for car hauling can also come at a high cost. Therefore, it's crucial to have adequate insurance coverage to protect against potential damage or theft, as well as any injuries or property damage that may result from accidents.

Businesses that may require car hauler insurance include:

  • Car dealerships
  • Auto transport companies
  • Companies that work with car dealerships
  • Auto body shops with car carriers.

It's important to assess your insurance needs and find a policy that suits your specific requirements.

man-stacking-coins

Is Hauler Insurance Required?

You are required to have car hauler insurance before transporting vehicles. It is mandatory to have coverage as per state laws, and if you drive across state lines, you may need additional coverage.

Businesses that contract you to transport their vehicles will also require you to have insurance to protect their valuable cargo. To ensure that you meet the state and federal requirements, it's recommended to consult an insurance agent or representative from a company specializing in car hauler coverage. They can guide you on the protection you need and advise you on how much coverage limit you require.

Types of Coverage

Car hauler insurance typically provides various types of coverage, such as:

General Liability Insurance

This type of coverage is mandatory in most states and is necessary to obtain truck permits and licenses. It protects you against injury to others and damage to their property, including vehicles, in the event of an accident that you are deemed responsible for. You can learn more about the best trucking general liability insurance companies to get an idea of the available options.

Comprehensive Physical Damage Protection

Comprehensive physical damage insurance covers your truck in the event of a collision, rollover, theft, or weather-related damage. It also provides protection in case your vehicle is vandalized. You can explore the best trucking physical damage insurance companies to find out more about this type of coverage.

Cargo Insurance Coverage

Cargo coverage is an important aspect of car hauler insurance as it covers any damages that may occur to the vehicles being transported. You can find out more about the best truck cargo insurance companies to get an idea of the available options.

Uninsured Motorist Coverage

Uninsured motorist coverage is also an important aspect of car hauler insurance as it protects you in the event of an accident where the at-fault driver doesn't have insurance or enough of it.

Unattended Vehicle Coverage

When it comes to car hauler insurance, it's essential to ensure that your policy includes coverage for unattended vehicles, especially as brand new cars are often targeted by thieves. Many insurers do not cover auto theft from unattended trucks, so it's important to check that your policy provides this coverage.

What You Can Expect to Pay

The cost of car hauler insurance depends on several factors, just like other commercial vehicle or trucker insurance policies. However, since car haulers carry multiple costly vehicles over long distances, the insurance cost can be relatively expensive.

Car hauler insurance premiums can range from $720 to $1,540 per month, with an average cost of $920 per month. This coverage includes primary liability coverage, general liability coverage, truck cargo insurance coverage, and uninsured motorist coverage.

car-desert

Factors That Impact the Cost of Hauler Insurance

The cost of car hauler insurance depends on various factors, such as:

  • The size and type of the hauler
  • The location of the business
  • The type and value of vehicles you transport
  • The distance you travel
  • The number of car haulers
  • How the insurer calculates premiums also comes into play.

It's crucial to obtain quotes from multiple insurance providers on the list to compare coverage options and prices. This will help you find the best car hauler insurance coverage that suits your needs at a reasonable cost.

Tips to Lower the Cost of Insurance

If you're looking to lower the cost of your car hauler insurance, there are a few steps you can take to take control of your premium prices.

  1. Firstly, consider insuring all your trucks and your entire business with a single provider. This could earn you discounts and lower your premium costs.
  2. Another way to save money is to pay your premiums up front rather than incrementally. Insurance companies often offer discounts to those who pay their premium annually.
  3. Always ask about discounts when talking to insurance companies and agents. Many insurers don't automatically offer discounts, so make sure you ask about the ones you qualify for both now and over time.
  4. Making safety a top priority can also help keep your insurance costs low. Hauling autos is risky, and a history of costly claims will raise your premium rates. Enforce safety best practices and drive and operate sensibly to avoid accidents and claims.

Finally, be sure to get quotes from several providers. Different insurers calculate vehicle hauler insurance premiums in different ways, and comparing coverages and costs can help you find the best deal. You may find that one insurer wants your business more than others and can offer you better protection at a lower cost.

Best Insurance Companies for Haulers

  1. Allstate is one of the top 5 insurance companies for hauling. They provide comprehensive coverage options, including liability, cargo, and accident coverage, as well as a wide range of discounts such as multi-vehicle and good driver discounts. Their online tools make it easy to get a quote and buy insurance for your trucking business quickly.
  2. Progressive Commercial is another top 5 insurance company for hauling that provides a wide selection of coverage options at competitive rates. They have specialized coverage options tailored to commercial trucks and also offer a range of discounts such as multi-vehicle or multi-policy discounts that can help you save money on your premiums.
  3. Geico offers reliable haulage insurance with a variety of coverage choices that can be customized to suit your needs. Their customer service team is available 24 hours a day, 7 days a week to answer questions and assist with any claims or policy changes you may need to make. Geico also offers great savings on their already competitive premiums with their various discount programs available to all customers.
  4. The Hartford is one of the top five insurance companies for hauling insurance. Their business is focused on providing commercial trucking and transportation businesses with tailored coverage that meets their needs and fits their budget. They offer a variety of services, including liability, cargo, non-trucking liability, occupational accident protection, motor vehicle physical damage, and motor truck cargo coverage. The Hartford also provides access to experienced claims experts who can help navigate the complexities of the insurance process.
  5. Farmers Insurance specializes in providing hauling insurance packages tailored specifically to truckers’ needs, including cargo protection and general liability insurance, plus other optional coverages like roadside assistance and even rental car reimbursement if necessary due to an accident or breakdown while on the road. Farmers also has potential savings opportunities through its discount program for qualifying members who complete safety courses or maintain an accident-free record for a certain number of years.
  6. Liberty Mutual offers comprehensive hauling coverage designed with long haul truckers in mind that includes not just cargo protection but also occupational liability protection, physical damage protections, medical payments coverage, and more depending on the type of operation you own or manage. Liberty Mutual also has special incentives like its “Truck Trail” program where customers can earn rewards points by taking safety courses or completing safety inspections. Those points can then be redeemed for gift cards from partner companies such as Pilot Flying J and Love’s Travel Stops & Country Stores.
  7. Next Insurance offers comprehensive hauling coverage for businesses in the trucking industry. This includes liability coverage for collisions and property damage as well as motor truck cargo insurance for goods that are transported by a company-owned or leased vehicle. Next will provide a free online risk assessment tool to determine potential risks so that business owners can customize their policies to best fit their needs.
  8. Biberk Insurance is a trusted provider of hauling insurance solutions and specializes in helping small business owners secure the right coverage at an affordable rate. Biberk’s products include general liability, cargo insurance, and motor carrier physical damage policies that are tailored to meet individual needs. They also offer easy payment plans and discounts for bundling policies together.
  9. Simply Insurance provides specialized hauling insurance products for businesses operating in the trucking industry. Their fleet owner policy provides broad protection for all types of trucks including reefer units and flatbeds as well as other related equipment like trailers or tractors used in tandem with your trucks. Simply Insurance also has an extensive network of agents throughout the United States so you can find someone local to answer any questions you may have about your policy details or claims processes.
  10. Reliance Partners offers customized and comprehensive packages exclusively designed for haulers who own or lease vans, box trucks, tractor trailer rigs or tankers. Reliance Partners prides itself on providing personal attention to clients through its dedicated customer service line which is staffed by knowledgeable professionals who have years of experience in the freight business. They also offer additional services beyond basic hauling such as safety consulting and driver training which can help keep drivers safe on the road while cutting down on operating costs associated with accidents or violations of regulations.

Important Things to Consider When Choosing Insurance

When it comes to ranking the best insurance companies for hauling, several factors are taken into consideration. These factors typically include the types of coverage offered, pricing and discounts available, customer service quality, financial strength, claims handling process, and overall customer satisfaction.

The types of coverage offered is a significant factor as different companies may provide varying levels of protection for your vehicles and your business. Pricing and discounts are also important, as business owners want to ensure they are getting the most affordable rates possible while still receiving the necessary coverage.

The quality of customer service and claims handling process is crucial, especially in the event of an accident or damage to your vehicles. A company with responsive and knowledgeable customer service representatives can make the claims process smoother and less stressful for business owners.

The financial strength of the insurance company is another important factor to consider. Business owners want to ensure that the company they choose has the resources to handle claims and provide the necessary support when needed.

Lastly, overall customer satisfaction plays a significant role in determining the best insurance companies for hauling, as positive reviews and ratings can indicate a company's reliability and commitment to their customers.

The Best Depends on Your Unique Needs

Ultimately, the best insurance company for you will depend on your specific needs and budget. Take the time to research and compare different insurance providers and policies to ensure that you find the right coverage to protect your business and assets.

Remember, finding the best insurance coverage can give you peace of mind and protect you from unforeseen financial losses.


About The Author

Bryan Huynh

Bryan Huynh

Product Tester & Writer

Bryan Huynh is a dedicated Product Tester & Writer. Just as insurance has your back, Bryan works to review and inform you about the wide range of insurance products available, ranging from business, auto, health, home, pet, to life insurance.

The Latest Articles

Read Articles