Cheap Box Truck Insurance: How to Find Affordable Coverage
Box truck insurance can cost anywhere from $3,500 to $20,000 (or more). Shopping around, using telematics programs, and bundling can help you save.
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Whether you’re thinking about starting a delivery business or currently own a business and want to expand your fleet, finding cheap box truck insurance is key. As a small-business owner, finding coverage is a balancing act; you want the most affordable insurance coverage possible, while making sure your policy meets state and federal regulations and adequately protects you.
Box truck insurance premiums can range from $3,500 to $20,000 per year.[?] Rates vary by location and business type, but you can save by looking into available discounts and comparing quotes.
Here’s what you need to know about finding the cheapest box truck insurance.
Quick Facts
If you do business across state lines, you’ll need coverage that satisfies Federal Motor Carrier Safety Administration regulations.
Depending on your state and insurance company, box truck insurance starts at about $200 per month.
Factors affecting your rates include your driving record, the type of cargo you typically transport, the truck type and condition, and your location.
How much does box truck insurance cost?
A box truck is a popular and common commercial vehicle with an enclosed cargo space and a separate chassis. Box trucks typically range in size from 12 to 26 feet, and businesses use them to haul cargo or a client’s belongings.
Generally, box truck owners pay anywhere from $200 to $2,500 per month for coverage. The cost of box truck insurance varies widely because insurance companies take into account multiple factors, including the following:[?]
Operating radius: Businesses that cover long distances, such as moving companies, spend more time on the road and are at an increased risk of being in an accident. As a result, they pay more for insurance than companies that tend to stay local.
Cargo type: Businesses that transport high-value or hazardous materials, such as electronics, will have higher premiums due to the higher risk of theft.
Deductible: If someone steals your truck or it gets damaged in a covered incident, your deductible is your up-front cost for repairs or replacement. Opting for a higher deductible will give you a lower premium but a bigger up-front cost in the case of a claim.
Truck size: Larger trucks, such as 26-foot box trucks, are usually higher-value vehicles, making them more expensive to insure.
Below is a breakdown of how coverage varies in price by truck size:
Truck Size  | Average Monthly Premium |
|---|---|
| 16’ truck | $423 |
| 26’ truck | $780 |
*Data compiled by gathering quotes from top commercial insurers and finding the average rates based on box truck size. Rates may vary.
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5 steps to get cheap box truck insurance
Purchasing a commercial auto policy isn’t much different from buying a traditional auto insurance policy for your personal vehicle. To find the cheapest insurance for your new or growing business, use these tips:
Best companies for cheap box truck insurance
The best commercial auto insurance company for you depends on your location, business type, and budget. We analyzed the leading box truck insurance companies and identified the top insurers based on their coverage options, cost, financial stability, and customer service.
AM Best rates how financially strong a company is so that you know whether it can pay out claims. J.D. Power rates customer satisfaction, and the National Association of Insurance Commissioners (NAIC) Complaint Index measures how many complaints a business gets, with a score of 1.0 being the average.
Insurer | AM Best Financial Strength Rating | J.D. Power Score | NAIC Complaint Index Score |
|---|---|---|---|
| Progressive | A+ (Superior) | NR | 2.95 |
| GEICO | A++ (Superior) | NR | 2.88 |
| Nationwide | A (Excellent) | 701 | 0.58 |
| Acuity | A+ (Superior) | NR | 0.0 |
| American Family | A (Excellent) | 727 | 0.0 |
Progressive: Best for online purchase
GEICO: Best for owner-operators
Nationwide: Best for telematics
Acuity: Best for new truck owners
American Family: Best for customer service
To identify some of the best companies for affordable commercial truck insurance, Insurify’s editorial team evaluated leading commercial auto insurance companies based on affordability, coverage options, customer service, claims handling, and financial stability.
We reviewed third-party ratings from J.D. Power, AM Best, and the National Association of Insurance Commissioners (NAIC). We prioritized companies that offer competitive premiums and comprehensive coverage tailored specifically to box truck operators and small fleets.
Types of box truck insurance coverages
The type of coverage you need for a box truck depends on your business and how far you travel. Typical forms of coverage include:[?]
Commercial liability: Commercial liability insurance pays for injuries or property damage caused by the driver of your box truck.
Physical damage: Physical damage protection provides collision and comprehensive insurance for your own truck.
Cargo: Cargo insurance protects the cargo inside your truck from theft or damage related to fires or storms.
Non-owned trailer: This form of insurance will cover damages on a trailer you don’t own but use for your business.
Medical payments: If your driver or passengers are injured in an accident, medical payments coverage helps pay for their medical expenses.
At the federal level, the Federal Motor Carrier Safety Administration (FMCSA) establishes regulations for trucks. If your truck travels across state lines and weighs more than 10,000 pounds, you’ll need to register it with the FMCSA and meet the FMCSA’s liability requirements.
Depending on the type of cargo you transport with your truck, you’ll need between $750,000 and $5 million of liability coverage.[?]
At the state level, coverage requirements vary by state. Also, many insurance companies have their own coverage minimums. For example, Nationwide requires customers to purchase at least $100,000 in commercial auto liability coverage per vehicle.
Optional box truck insurance coverage
To protect your business, you may need additional coverage. For commercial auto policies, common add-ons include:
Roadside assistance: For a box truck, you may need specialized roadside assistance to access towing or get help replacing a flat tire if your truck breaks down.
Rental reimbursement: After an accident, your box truck may be in the shop. Rental reimbursement coverage offsets the cost of renting a truck in the meantime so you can continue your business operations.
Business income insurance: This form of insurance helps reimburse you for lost income while your truck is in the shop after an accident or covered incident.
Equipment coverage: Equipment insurance helps cover specialized equipment inside the truck, such as refrigeration systems.
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Factors that affect the cost of your box truck insurance
For small fleet owners and solo owner-operators, several factors affect the cost of insurance for box trucks, including:
How to lower your box truck insurance premiums
Box truck insurance can be expensive, so you may be looking for ways to reduce your premiums. But it’s important to balance affordability with appropriate coverage. Otherwise, you risk serious losses if your truck is in an accident.
Luckily, you have several ways to lower your premiums:
Compare quotes. Rates vary significantly by company, so requesting insurance quotes from several companies can help you compare rates and choose the best coverage at the best price.
Bundle policies. If you have multiple forms of business insurance, purchasing them from the same insurer can help you qualify for multi-policy discounts.
Maintain safe driving records. Ensuring your employees complete safe driver training and practice safe driving habits will help your business avoid accidents and claims. Over time, you may qualify for safe driver or claims-free discounts.
Leverage telematics. Usage-based insurance policies that base your premiums on your vehicle use and driving habits can significantly reduce your commercial auto insurance premiums.
Cheap box truck insurance FAQs
As you shop for cheap box truck insurance, the following information can help you find the right coverage at the right price.
How do you find the cheapest box truck insurance?
To find cheaper box truck insurance, shop around and get quotes from several insurers. Ask your agent about potential discounts, and consider enrolling in a telematics or usage-based insurance program.
What insurance do you need if you rent a box truck to get loads?
If you’re renting a truck for business purposes, you’ll usually need liability coverage to meet federal or state requirements. Additionally, you may need physical damage insurance to cover the truck and cargo insurance to protect the contents.
Why is box truck insurance so expensive?
Box truck insurance is expensive due to the high cost and high vehicle values of both used and new trucks. Additionally, box trucks have higher federal and state coverage requirements compared to a traditional auto insurance policy.
What is the least expensive truck to insure?
The cheapest box trucks to insure are typically smaller, such as 10- or 16-foot trucks, that stay within a limited radius. In general, used trucks are cheaper to insure than newer models.
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