Founded
1939
Monthly Range
$1,200-3,500/mo
Coverage Types
5
Deductible
$2,500-10,000
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Our Review
Canal Insurance Company, headquartered in Greenville, South Carolina, has been insuring commercial trucks since 1939. They've carved out a niche as one of the few established carriers willing to write policies for new authority holders and drivers with limited operating history. While their premiums reflect the higher risk of insuring newer operators, their willingness to provide coverage when others won't makes them an important option in the market. Canal writes through independent agents and focuses heavily on for-hire trucking.
Pros
- One of the few established insurers willing to write new authority policies consistently
- 85+ years of experience specifically in commercial trucking insurance
- Works with a broad network of independent trucking insurance agents
- Offers primary liability limits up to $1M with higher limits available through excess coverage
- Accepts a wider range of cargo types than many competitors
Cons
- Premiums are higher than average, reflecting their willingness to insure higher-risk profiles
- Claims processing times can be slower than larger competitors
- Online tools and self-service options are minimal
- Customer service can be difficult to reach during peak hours
Our Verdict
Canal Insurance fills an important gap in the trucking insurance market by consistently offering coverage to new authority holders when most competitors won't touch them. You'll pay more for that access — their premiums are among the highest in our rankings — but for a new operator who needs to get on the road, that coverage availability is worth every penny. If you're an established carrier with a clean record, Canal probably isn't your best value play. But if you're in your first two years of operation, they're one of the most reliable options available.
Pricing & Premiums
Monthly Premium
$1,200-3,500/mo
Deductible Range
$2,500-10,000
Canal's pricing reflects their specialty in higher-risk profiles. New authority holders with less than 2 years of operating history should expect premiums at the upper end of the range. Rates typically decrease significantly after 12-18 months of clean operation. Canal offers quarterly and semi-annual payment options in addition to monthly billing. Deductibles tend to run higher than standard market, which helps keep premiums somewhat manageable.
Coverage Types Available
- Primary Liability
- Physical Damage
- Cargo
- Non-Trucking Liability
- Trailer Interchange
Coverage Options
- Primary Liability
- Physical Damage
- Cargo
- Non-Trucking Liability
- Trailer Interchange
Feature Comparison
| 24/7 Claims | |
| In-House Claims | |
| Risk Management | |
| Safety Programs | |
| Online Portal | |
| Mobile App | |
| Flexible Payment | |
| Multi-Truck Discount |