CoverWallet commercial car insurance review | finder.com

CoverWallet commercial car insurance review

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CoverWallet commercial car insurance
  • Personal advisors
  • One-stop shop
  • Industry-specific quotes
  • Wide commercial coverage
  • Online account management
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Simplify the insurance process with personalized advice and a centralized online account.

CoverWallet connects you with coverage through its partners and personal advisors to help you choose the right policy. This broker goes the extra mile to make the process easy, but your customer experience could vary depending on the service provider you’re matched with.

Description Your customized business vehicle insurance starts with a quick expert assessment to find the best coverage for your company.
States served All 50 states
AM Best financial rating Not rated
Claims methods online, phone
Payment schedule Depends on provider

Pros

  • Personal advisors
  • One-stop shop
  • Industry-specific quotes
  • Wide commercial coverage
  • Online account management

Cons

  • No branch offices
  • Few customer reviews
Rideshare coverage Depends on provider
Cargo coverage Depends on provider
Non-owner coverage Depends on provider
Lifetime repairs guarantee Depends on provider
Roadside assistance Optional

What commercial car insurance coverage does CoverWallet offer?

CoverWallet offers businesses a variety of policies, including customizable add-ons:

  • Liability. Protect your business from financial losses related to bodily injury or vehicle damage in a car accident.
  • Collision. Cover physical damage that results from colliding with another vehicle or object.
  • Comprehensive. Have peace of mind about repairing or replacing a business vehicle after it’s damaged by something other than a collision.
  • Specified causes of loss. This alternative to comprehensive coverage applies only to accidents incurred by specific causes.
  • Uninsured or underinsured motorists. Protect yourself from medical expenses not covered by the other driver’s insurance.
  • Medical payments. Pay for employee medical bills not covered by worker’s compensation.
  • Loading and unloading. Get protection from damages that may happen while loading or unloading business tools, goods or equipment.
  • Towing and labor. Cover tow truck expenses, including any labor expenses involved.
  • Roadside assistance. Get help for minor repairs when you’re on the road.
  • Cargo. Protect lost or damaged cargo transported by truckers.
  • Bobtail. Cover truck employees when they’re out doing business but not hauling any cargo.
  • Hired and non-owned auto. Protect a business vehicle and its passengers, even when you’re renting.

Where can I get commercial car insurance from CoverWallet?

CoverWallet connects you with a variety of partners to find the insurance you need. Its partnerships cover all 50 states, so you’ll likely find an option in your area.

Some of CoverWallet’s partner insurers include Progressive, Geico, Liberty Mutual, Chubb, Markel and AmTrust.

What features does CoverWallet offer for businesses?

CoverWallet offers several types of add-on coverage, available through its partners.

  • Worker’s compensation. Make sure employee injuries are accounted for while they’re on the job.
  • Trailer interchange. Protect against physical damage to an unowned trailer used by your fleet company.
  • Non-trucking liability. Get liability coverage when using your semi for non-business reasons.
  • Pollution. Special coverage for damages associated with pollution from your vehicles. An Environmental Impairment policy may also cover cleanup.

How reliable is CoverWallet?

You won’t find much info about CoverWallet in customer reviews. However, CoverWallet is in good standing with the Better Business Bureau. It’s rated a healthy A for helping businesses find commercial car insurance. CoverWallet isn’t rated for its financial status with A.M. Best.

CoverWallet was also named one of the Best Entrepreneurial Companies in 2016 by Entrepreneur Magazine. The award was based on the company’s simple yet innovative insurance process.

Since claims aren’t paid out through this broker — but through your chosen insurer — compare reviews and financial status for the company you’re matched with.

Pros and cons of CoverWallet car insurance

Pros

  • Personal advisors. CoverWallet includes an insurance checklist on its website, which advises types of coverage needed based on information about your business. You’ll also receive free access to a personal insurance advisor.
  • One-stop shop. The company is known for covering many business insurance needs, not just commercial auto.
  • Industry-specific quotes. Receive an online quote based on your industry or business type.
  • Wide commercial coverage. CoverWallet focuses solely on business insurance. It offers many coverage options not available with some car insurance companies.
  • Online account management. Unlike many insurance brokers, you can create an account on CoverWallet to manage all your business policies in one place.

Cons

  • No branch offices. Customer service is limited to phone or online.
  • Few customer reviews. Not many consumer sites have rated CoverWallet. However, the company claims it’s dedicated to making the business insurance process quick and easy.

How to contact CoverWallet

Get in touch with the company any time of day:

  • Phone. Call a personal insurance advisor at 646-844-9933. Or schedule a phone appointment from the company’s Talk to Us page. Appointments are scheduled between 9 a.m. and 7 p.m. ET.
  • Email. Send one to info@coverwallet.com.
  • Chat. From the company’s homepage, click the Chat feature under the listed personal advisor. If it’s after 6 p.m. ET, leave a message and an advisor will get back to you.
  • Online. Manage your policies, make a payment or file a claim with your online CoverWallet account.
  • Mail. Send mail to the corporate office:
  • CoverWallet
  • 100 Avenue of the Americas, Floor 16
  • New York, NY, 10013

Alternatives to CoverWallet commercial car insurance

Name Product Available states Roadside assistance AM Best financial rating
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All states except AK, DE, HI, MT, NH, VT, WY
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Bottom line

CoverWallet’s mission is to make commercial car insurance simple for businesses, offering access to a wide range of coverage and online policy management. But your actual customer experience will depend on the insurer you’re connected with.

CoverWallet allows your business to compare quotes for commercial car insurance in one place.

Frequently asked questions

Sarah George

Sarah George is a writer dedicated to unraveling complicated topics, including medical journalism, philosophy and finance. She loves breaking down the tough stuff into simple terms that everyone can understand. In her free time, Sarah's usually sipping hot tea and talking through movie plots with her husband.

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