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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Written byKat Tretina
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Kat Tretina
Kat Tretina is a personal finance writer specializing in debt repayment and insurance.
Previously, she worked in public relations within the pharmaceutical industry before switching to non-profit work. After struggling to repay her own student loan debt and seeing firsthand how complex the financial aid and repayment system is, she began writing to share what she learned so other people could better manage their loans.
For the past seven years, she’s been freelancing for major financial publications, focusing her work on helping people understand their financial options. Kat double-majored in English and Communications at Elizabethtown College, and she went on to earn her master’s at West Chester University. She has also earned certifications in student loan counseling and financial education.
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Edited bySara Getman
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Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.
Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.
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Table of contents
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.[1] 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:[2]
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:
Evaluate coverage needs
Besides coverage to satisfy state or federal insurance requirements, you may also need additional coverage for your vehicle and cargo.
Gather information
To apply for insurance, you’ll need the names and driver’s license numbers of your employees, the vehicle identification number (VIN) of the truck, and the vehicle’s current mileage.
Compare quotes
Get quotes from several commercial auto insurance companies. Be sure to compare the same coverage types and limits.
Adjust your coverage limits and deductible
Balance coverage with affordability. For example, you may opt for a higher deductible on physical damage insurance to lower your premiums.
Purchase insurance
You can often buy policies entirely online or through an agent. Keep a copy of your insurance information in each vehicle your business owns.
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
online purchase
Progressive
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If you’re a new business owner and purchasing your first box truck, you may need to secure coverage quickly. With Progressive, you can view quotes and purchase commercial auto insurance entirely online.
The company has several discounts to make your premiums more affordable. And you can add options to your policy, like rental reimbursement with downtime coverage, for more protection.
Pros
Policyholders have access to a truck repair network
Multiple discounts
Offers rental reimbursement with downtime coverage
Cons
Policies not available to residents of Washington, D.C.
Prices vary by purchase method
Higher-than-average number of NAIC complaints
GEICO: Best for owner-operators
owner-operators
GEICO
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Independent owner-operators — truck drivers who own and drive their own commercial vehicle rather than driving a truck provided by a company — must cover their own insurance expenses.
If you’re an independent owner-operator, GEICO has robust coverage options, including benefits like expanded towing and roadside assistance, to help you get back on the road. And GEICO has a longer-than-usual list of commercial auto discounts, so you may be able to reduce your premiums.
Pros
Several discounts
Coverage for owner-operators and those under a motor carrier
Expanded towing and roadside assistance available
Cons
Higher-than-average number of NAIC complaints
Limited agent availability
Limited online functionality for policyholders
Nationwide: Best for telematics
telematics
Nationwide
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For small businesses, finding ways to save money is key. Telematics programs that base your auto insurance premiums on your vehicle usage and driving habits can be a smart way to reduce your costs.
Unlike some companies, which require business owners to invest in physical equipment, Nationwide allows business owners to enroll in its telematics program, Vantage 360 Fleet, by signing up for a mobile app. By using the app, you can reduce your business auto premiums by 10%.
Pros
Better-than-average J.D. Power customer satisfaction rating
Robust network of independent agents
Below-average number of NAIC complaints
Cons
Telematics isn’t available everywhere
Nationwide has its own coverage minimums
Can’t purchase coverage online
Acuity: Best for new truck owners
new truck owners
Acuity
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A new box truck can cost $150,000 or more, so most business owners will rely on financing to purchase a vehicle. Not all commercial insurance companies offer gap insurance, but Acuity sells loan or lease gap insurance for commercial vehicles, including box trucks.
Acuity also has several add-ons that can benefit new truck owners, such as extra protection for towing or rental reimbursement.
Pros
Offers loan or lease gap coverage
Multiple coverage add-ons available
Policyholders can add business income coverage to their policies
Cons
Available in only 30 states
Online quotes not available for all businesses
Telematics equipment requires contracts
American Family: Best for customer service
customer service
American Family
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Business owners who prioritize personalized customer service and support should consider American Family. Not only is American Family the top company in J.D. Power’s U.S. Small Commercial Insurance Study, but its mobile app for iOS devices also has a high rating. Plus, policyholders get access to loss prevention and safety tools that can help them protect their businesses.
Pros
Top-rated by J.D. Power for customer satisfaction
Highly rated iPhone app
Policyholders have access to safety tools
Cons
Online quotes not available
Available in only 19 states
Hired auto collision, physical damage, and non-owned liability only available as add-ons
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:[3]
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.[4]
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:
Driving record
Drivers with clean driving records and no claims history will usually have lower rates than drivers with histories of accidents or speeding tickets.
Truck type and value
Specialty trucks, such as refrigerated units, are more costly to insure. Similarly, new models are typically pricier to insure than used trucks.
Location
Some areas are more prone to storm damage, theft, or accidents, so businesses in those areas will pay higher insurance premiums.
Coverage options
To meet federal and state regulations, you need to have liability insurance. But if you add coverage for the vehicle (or other optional add-ons), you’ll have a higher premium.
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.
Sources
- DAT Freight & Analytics. "Navigating Commercial Truck Insurance Costs Across States."
- Usted Truck Association. "Commercial Box Truck Insurance Cost."
- III. "Auto insurance basics—understanding your coverage."
- Federal Motor Carrier Safety Administration. "Insurance Filing Requirements."
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Kat Tretina
Kat Tretina is a personal finance writer specializing in debt repayment and insurance.
Previously, she worked in public relations within the pharmaceutical industry before switching to non-profit work. After struggling to repay her own student loan debt and seeing firsthand how complex the financial aid and repayment system is, she began writing to share what she learned so other people could better manage their loans.
For the past seven years, she’s been freelancing for major financial publications, focusing her work on helping people understand their financial options. Kat double-majored in English and Communications at Elizabethtown College, and she went on to earn her master’s at West Chester University. She has also earned certifications in student loan counseling and financial education.
Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.
Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.
