5 Best Commercial Truck Insurance & Quotes in Colorado for 2023

Thang Truong
Thang Truong
Updated on:

Trucking is a vital industry in the Colorado economy, responsible for the transportation of goods and materials throughout the state. According to the Colorado Department of Transportation, the trucking industry in Colorado generates over $13 billion in annual revenue and employs over 100,000 people. With such a significant economic impact, it’s essential for truckers and trucking businesses in Colorado to have proper commercial truck insurance to protect themselves and their assets. In this article, we’ll recommend the top 5 providers of commercial truck insurance in Colorado and provide the necessary knowledge for truckers to make informed decisions when purchasing coverage.

5 best commercial truck insurance companies in Colorado

The best way to find affordable commercial truck insurance in Colorado is to get and compare several quotes from the top providers in the state to find the cheapest one for your trucking business. We have done intensive research among the trucking insurance providers in the state and here are the top 5 providers that we recommend:

  • Progressive: Best Overall and for several discount programs
  • Simply Business: Best for finding cheap coverage by comparing several quotes easily
  • biBERK: Best for low-cost coverage from a reputable carrier
  • THREE: Best for affordable comprehensive coverage for small trucking businesses
  • Smart Financial: Best for finding cheap required minimum coverage

Hundreds of insurance companies offer commercial truck insurance in Colorado. That can make it a bit confusing when you are trying to find the best commercial truck insurance company for you. We have researched more than 30 companies and here are our recommendations of the top 5 providers for your consideration. 

Progressive: Best Overall and for several discount programs

Progressive is the biggest carrier insuring commercial auto in the United States. They are known for comprehensive coverage, several discount programs, and very easy and fast online quoting experience. You can easily get quotes and buy a policy online in less than 10 minutes.

Most importantly, Progressive commercial auto coverage is available to almost all types of commercial vehicles and businesses in all industries.


  • The biggest commercial auto insurer with decades of experience in insuring commercial vehicles
  • Easy to get online quotes, within 10 minutes. You can also buy a policy and manage a policy completely online
  • Multiple discounts available to almost all customers
  • Rideshare insurance is available
  • Covers a wide range of commercial vehicles and is available for businesses in all industries


  • Some online reviews are less than stellar
  • Rates can be a bit more expensive but if you prefer comprehensive coverage without many gotchas, it may be worth it

Simply Business: Best for finding cheap coverage by comparing several quotes easily

Simply Business is an insurance brokerage firm specializing in servicing small businesses. As a brokerage firm, Simply Business partners with 30+ reputable carriers. They can help you get quotes from these carriers at once, making it easier for you to compare several quotes to find the cheapest one for your business.


  • Digital broker that can compare several quotes from partner companies
  • Partners with 30+ reputable carriers with excellent financial strengths and affordable rates
  • Good customer satisfaction ratings
  • Good for working with agents


  • They don’t underwrite any insurance, so you can’t file claims through Simply Business
  • Only offers quotes from companies they partner with

biBERK: Best for low-cost coverage from a reputable carrier

bibERK is a subsidiary of Berkshire Hathaway, the reputable parent company of Geico. They definitely have a stellar reputation and excellent financial strength to honor their promises to their customers and pay the claims when they need to.

biBERK builds a direct-to-customers business model. They sell commercial truck insurance directly to the customers. Their business model helps them save costs and pass savings to their customers. In fact, they claim that their customers will be able to save at least 20% premiums when buying commercial truck insurance from them.

Thanks to their direct-to-customer business model, they are one of a few carriers that can offer commercial truck insurance quotes online. You can get quotes and buy a policy completely online in a few minutes.


  • A part of Berkshire Hathaways family. Excellent financial strength
  • Claim to save 20% on premiums
  • Can download copies of your insurance certificate online
  • Easy to file claims online


  • Best for simple insurance needs
  • Not all types of insurance are available in every state

THREE: Best for affordable comprehensive coverage for small trucking businesses

THREE is another subsidiary of Berkshire Hathaway, the parent company of Geico. THREE was founded with a belief that all small businesses should be able to get one single policy that covers all of their risk exposure, instead of buying several separate policies, which can be very expensive. In addition, small business owners may not fully understand which risks are covered by which policies and may end up being disappointed because the policy they have doesn’t cover the incident that happened at their business. As a result, THREE invented one comprehensive policy that covers important aspects of small business operations: commercial vehicles, general liability, and commercial property. Their policies are also written in plain English with no jargon and no fine print and are always 3-page long.


  • Several different types of insurance coverage: commercial trucking, general liability, and commercial property are available under one policy
  • Affordable rates for small trucking businesses. You don’t need to buy 3 separate policies which would be very expensive
  • Licensed small business advisors can help you and answer questions


  • Limited online features

Smart Financial: Best for finding cheap required minimum coverage

Smart Financial is another brokerage firm specializing in helping small businesses to acquire the right coverage at the most affordable rates. Smart Financial understands that commercial auto insurance is a significant expense for small businesses and getting cheap coverage is important to them. They focus on ensuring small businesses get the minimum coverage satisfying the state and federal laws requirements at the cheapest possible rates from solid standing carriers.


  • Simply and quick process
  • Partners with 30+ carriers who can offer cheap rates for minimum coverage that the state laws and federal regulations require and who have excellent financial strength ratings from 3rd-party agency such as AM Best
  • Compare quotes from many insurance companies


  • Some carriers they work with may not be well-known but they have excellent financial strength ratings and able to provide low-cost coverage
  • If you prefer working some particular carrier that they don’t work with, you need to look elsewhere

Who needs commercial truck insurance in Colorado? 

Anyone who drives a truck for work in Colorado, with the exception of commuting back and forth to your job. If you try to use your personal auto insurance for your commercial autos or trucks, the insurance company won’t cover it. Even for a commercial truck, like a dump truck or a tractor trailer, you need non-trucking liability coverage for those occasions when you aren’t using your truck to haul anything. 

Commercial truck insurance requirements in Colorado

All vehicles in Colorado, including commercial trucks, are required to have at least 50/100/15 in insurance coverage, at the bare minimum. This means $50,000 per person, $100,000 per accident and $15,000 in property damage. 

Commercial trucks hauling specialized cargo need additional insurance. Below are the minimum requirements in Colorado: 

Cargo that you haul Minimum liability coverage requirements in Colorado 
Household goods$300,000
General freight$750,000
Cargo insurance$10,000/vehicle

If you cross the state lines, you need to have coverage limits required by the Federal Motor Carrier Safety Administration (FMCSA). The current FMCSA minimum requirements depend on the types of cargo and the size of the truck. Below are the current minimum requirements: 

  • $300,000 for non-hazardous freight in vehicles under 10,001 pounds 
  • $750,000 for non-hazardous freight in vehicles over 10,001 pounds 
  • $1,000,000 for oil carried by for-hire and private carriers 
  • $5,000,000 for other hazardous materials

How much does commercial truck insurance cost in Colorado? 

The average cost of commercial truck insurance in Colorado is $12,624 per year, or $1,052 per month. In most cases, truck drivers in Colorado pay premiums of between $7,816 and $14,290.  

That is the cost for a 39-year-old trucker driving a box truck and having a good driving record. The policy includes trucking primary liability, non-trucking liability, trucking physical damage, and cargo truck insurance coverage. Below are the average costs breakdown by coverage: 

Commercial truck coverages Average costs in Colorado 
Trucking primary liability$514 per month
Trucking physical damage$328 per month
Bobtail coverage$43 per month
Truck cargo insurance$167 per month

These are just averages though: your costs may be higher or lower. Commercial truck insurance rates are highly individual. Be sure to shop around with a few companies or work with a top broker to compare several quotes to choose the best and the cheapest one for your trucking business. 

What factors impact commercial truck insurance costs in Colorado? 

How much you pay for commercial truck insurance in Colorado depends on a variety of factors, such as:

  • Years of driving experience. Drivers with more experience (and who have good driving records) will pay less than newer drivers
  • Years of experience as a trucker: Commercial truck driving is a little different than just driving a regular vehicle, so your years of experience in the trucking industry will impact how much you pay
  • How far you drive: generally, if you drive more than 50 miles in a trip, or if you cross state lines, you’ll pay more for insurance. 
  • Claims history: if you have any claims at all, you will pay more for insurance. Even claims that weren’t your fault, the insurance company will still see you as a higher risk than someone who has never made a claim. 
  • Age of your truck: Newer trucks are worth more, and therefore cost more to insure
  • Weight of your truck: heavier trucks also cost more to insure. The insurance company knows that heavier trucks tend to do more damage if they are involved in an accident
  • Type of cargo: federal regulations dictate how much you pay if you cross state lines, but even if you don’t, some types of cargo cost more to insure. 
  • Location: some locations have higher crime rates, and therefore if your truck is parked there, you’ll pay more for insurance. 

How to get cheap commercial truck insurance in Colorado

Commercial truck insurance in Colorado is expensive. But there are ways to save money on your truck insurance policy. Below are a few practical tips to lower your insurance costs: 

The best way to save money on commercial truck insurance is to shop around

Different companies will vary by hundreds of dollars in insurance quotes. The reason for this is different insurance companies weigh different factors differently. One company may place a high emphasis on location, whereas another may weigh the age of your truck more heavily. 

Maintain your vehicles

Have a regular maintenance schedule for your truck  to make sure it is in good shape. Always do a pre-trip vehicle inspection, so that you’re not surprised by mechanical difficulties, or worse, an accident. 

Ask about discounts

Some companies, like Progressive, will give you a discount if you enroll in their Snapshot program. This is a device that you install in your vehicle and it evaluates your driving. 

Other companies offer additional discount programs that you may be qualified for. Always ask the agents or the brokers for discounts. Even if you are not eligible for the discount now, you may be in the near future. 

Get commercial truck insurance quotes online in Colorado

Getting commercial truck quotes can be trickier than you would think. The only company that consistently gives an online quote without a hassle is Progressive. biBERK and THREE also provide commercial truck insurance online although they may not be available in all 50 states and they may not cover a comprehensive range of trucks. However, it is likely that their quotes are cheaper than Progressive’s since their policies are usually with the lower coverage limits. However, there are insurance brokers that can offer online quotes as well. Companies like:

  • Simply Business
  • CoverWallet
  • InsurePro
  • Commercialinsurance.net
  • Smart Financial

And possibly some regional brokers will be able to help you by presenting you with several quotes. It’s worthwhile to try at least one or two of them. 

Get commercial truck insurance in all cities in Colorado

Commercial truck insurance is required in all cities in Colorado. 

Colorado SpringsArvadaGreeley
AuroraWestminsterHighlands Ranch
Fort CollinsPuebloLongmont

Commercial truck insurance for different types of owner operators in Colorado

Whether you are a new truck owner operator or an experienced trucker part of a fleet, whether you drive a 18-wheeler, a tow truck, a dump truck, or a box truck, you must have commercial truck insurance in Colorado.

Learn more about commercial truck insurance for different types of trucks and different types of truck drivers: 

What does commercial truck insurance cover? 

Commercial truck insurance protects truck drivers and trucking businesses from risks associated with driving their trucks and running their trucking businesses. There are several coverages included in commercial truck insurance. 

As we discussed above, trucking primary liability insurance covers bodily injuries and property  damages caused to the other driver and vehicle in an accident with your truck. 

In addition, truckers and trucking businesses in Colorado can get other coverage to protect themselves and their businesses. These coverages are not required by laws, but highly recommended: 

Workers comp insurance for truckers covers truck drivers if they are injured or getting sick while they are at work. It pays for your medical expenses, lost wages, and other related costs. Learn more at the best workers comp insurance for truckers.

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Thang Truong
Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.

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