Top 10 Truck Insurance Companies Specifically For Bulk Trucking Companies in 2024: 

Top 10 Truck Insurance Companies Specifically For Bulk Trucking Companies in 2024: 

I’ve had the opportunity to work with a wide range of insurance carriers. In the trucking industry, finding the right insurance company can make a huge difference for your operations. Based on my personal experience and feedback from clients, I’ve compiled a list of 10 Bulk trucking insurance companies for 2024. 

This list is in no particular order, but each carrier stands out for different reasons. Our goal is to be fully transparent in order to  give our clients the best options even if it’s not with a market we represent. The companies we do represent are marked with a star. 

Northland, owned by Travelers, is one of the longest-standing names in the trucking insurance business. They’ve built a solid reputation over the years, providing reliable coverage for a wide range of truckers. Northland's flexibility and willingness to insure different types of trucks and trailers make them a popular choice.

Pros:

• In-house claims appraisers: They handle claims internally, so you avoid dealing with third-party adjusters.
• Broad appetite: They insure many types of trucks and trailers, from owner-operators to larger fleets.

Cons:

• Works through MGAs/Wholesalers: No direct billing unless you opt for monthly reporting.
• Average pricing for bulk haulers: Bulk trucking isn’t a preferred class for Northland, but they can get aggressive on pricing when they want an account.

Acuity stands out as a truck insurance carrier with top-notch customer service and the ability to cover more than just trucking. They provide broad coverage across multiple lines, including workers' compensation, property, and general liability. This flexibility makes Acuity a favorite among many trucking operations.

Pros:

• Direct billing: No need to finance premiums, which helps avoid extra fees.
• Comprehensive coverage: Acuity can cover everything from trucking to property and workers' comp, which simplifies your insurance needs.

Cons:

• Selective with trucking risks: Conservative on writing trucking risk.
• Mileage and equipment restrictions: They want 80% of miles driven within a 600-mile radius, and they avoid insuring trucks over 25 years old.

Sentry Insurance has earned a solid reputation among trucking companies for their customer service and claims handling. Although Bulk Insurance Group doesn’t have a direct contract with Sentry, we’ve seen that their clients are typically very satisfied with the service they receive.

Pros:

• Excellent customer service: Sentry is known for being extremely service-oriented and responsive.
• Specializes in trucking: They work with agents who understand trucking, ensuring their policies fit the unique needs of the industry.

Cons:

• Selective underwriting: Sentry can be picky about the accounts they write, but they offer competitive pricing when they want an account.
• Regional & Long Haul Rates Similar: Sentry has great rates for long-haul truckers unfortunately the rates for regional grain haulers aren’t much different. Causing them to be overpriced in the regional space on occasion. 

Continental Western has a long history in trucking insurance, with a strong reputation for great customer service and efficient claims handling. They understand the trucking business deeply and have built policies that cater specifically to the needs of trucking companies.

Pros:

• Best-in-class claims and billing service: Adding or removing equipment is quick, and they process endorsements in just a few days.
• Motor Carrier Endorsements - Quick claims response and seasoned claims handling. 

Cons:

• No new ventures: They require a minimum of 2 years in business for a bulk hopper operation.
• Strict driver requirements: They require drivers to have at least 2 years of experience and be over 25 years old, which can make hiring new drivers more difficult.

Canal Insurance is a key player for Bulk-related trucking operations, and they offer competitive rates for trucking companies that fall within their appetite. They are known for working well with small fleets and providing enhanced physical damage coverage.

Pros:

• Bulk-friendly pricing: They are often the best-priced option for Bulk-related businesses.
• Enhanced physical damage coverage: Canal broadens coverage for clients without charging extra, which is a huge benefit.

Cons:

• Brokerage separation on SAFER: Canal prefers that trucking companies with brokerages list these separately on the SAFER system, which can be an added administrative burden.
• No direct billing: Canal requires all premium up-front with no direct bill options. Because of this most motor carriers utilize a premium finance company to make payment to. 

Great West has a stellar reputation in the trucking insurance industry and is particularly known for covering both new ventures and long-standing fleets. They also offer unique coverage options, like mechanical breakdown insurance, which can be a huge plus for owner-operators and smaller fleets.

Pros:

• Covers new ventures: Great West is willing to take on newer trucking companies, providing coverage options that many other insurers won’t.
• Mechanical breakdown coverage: They offer coverage for mechanical breakdowns up to $5,000, which is a rare option in the market.

Cons:

• Slow to offer discounts: They tend to hold back on discounts until they’re at risk of losing the business.
• Agent loyalty incentives: Their agents are incentivized to keep clients with Great West, even when it might not be the best option for the trucking company.

Progressive is one of the easiest truck insurance companies to work with, offering fast quotes for almost any trucking business. They are flexible in terms of what they’ll write, making them an attractive option for many different types of truckers.

Pros:

• Easy quoting process: Great for new ventures. Progressive writes 72% of all new venture trucking companies in the US.
• Flexible underwriting: Progressive is willing to insure a wide range of trucking classes.

Cons:

• Charges for driver additions: Driver endorsements cause a rate change. So each time a driver is added or deleted it could impact your annual premium. 
• Slow customer service: Their customer service can be sluggish, and many reps aren’t well-versed in trucking specifics.

Berkshire Hathaway is known for its financial strength and credibility, and their insurance division offers solid truck insurance solutions. They have an online platform that makes quoting quick and easy, though their pricing doesn’t always match the competition.

Pros:

• Quick turnaround on quotes: Their online system allows for fast quoting, making it efficient for trucking companies needing coverage fast.
• Strong financial backing: Berkshire’s reputation provides a sense of security for clients.

Cons:

• Low binding rate: Only about 5% of the quotes they issue actually turn into bound policies due to higher pricing.
• Price competitiveness: Many clients find that Berkshire’s premiums are higher than other carriers for similar coverage.

Crum & Forster is a strong contender in the trucking insurance world, especially for businesses needing higher liability limits. They offer up to $5 million in excess liability, which is especially valuable for hazmat haulers and large fleets.

Pros:

• High excess liability limits: They’ll write up to $5 million in excess liability for specialized trucking operations, particularly those hauling hazardous materials.
• Aggressive pricing when interested: When they want to write an account, they can be very competitive.

Cons:

• Limited trucking appetite: Crum & Forster is selective, usually only writing best-in-class trucking operations.
• Narrow focus: If your company doesn’t fit their ideal profile, they’re not likely to offer a competitive quote.

Occidental is another insurer that stands out for its aggressive pricing when they want to write a policy. They tend to focus on non-fleet trucking businesses, but getting a quote back can be challenging due to their limited appetite.

Pros:

• Aggressive on non-fleet business: When Occidental wants to write a non-fleet account, their pricing can be hard to beat.
• Great for niche businesses: They offer specialized coverage options for particular types of operations.

Cons:

• Hard to get quotes: Their limited appetite means it can take time to get a response on a quote.
• Selective underwriting: They’re very specific about the types of risks they’re willing to insure. They will write hopper operations but they must be best in class. 

These 10 truck insurance companies each have their own advantages and disadvantages, making them suitable for different types of trucking operations. If you’re looking for truck insurance, understanding these pros and cons will help you make an informed decision that fits your specific needs. Whether you're running a small fleet, are an owner-operator, or managing a large-scale operation, these carriers offer a variety of coverage options and pricing models to consider.