Canal Insurance Company specializes in insurance for commercial trucking and specialty transportation, focusing on small to mid-sized fleets (1-50 units) and owner-operators with at least 2 years of CDL experience. They offer auto liability (up to
million), physical damage, and cargo coverage, with tailored programs like “Miles per Canal” for telematics-based,Usage-Based Insurance (UBI).
Target Appetite & Risk Profile
- Fleet Size: Small to mid-sized fleets (typically 1–50+ units).
- Experience Requirements: Drivers must have a minimum of 2 years of CDL driving experience.
- Equipment: Truck models from 2000 or newer.
- Operations: Primarily focused on for-hire trucking, including dry van, refrigerated, and flatbed operations.
- Technology: “Miles per Canal” (utilization-based) requires active use of a telematics device.
- Coverage Area: Nationwide, but not available in all states.
Core Coverages
- Auto Liability: Limits up to
.
- Physical Damage & Cargo: Combined deductible options up to
.
- Truckers General Liability: Limits up to
.
- Specialized Coverage: Pollution liability (CA 99 48) included, towing, reefer breakdown, and non-owned auto coverage.
Innovative Offerings
- Miles per Canal: A usage-based insurance program for 1-15 trucks that lowers deposit requirements and bases costs on miles driven.
- Canal TestDrive: A pay-as-you-drive, telematics-enabled,, program that uses Samsara devices to report mileage monthly.
- Risk Management: Includes loss control services, and a 24/7 claim reporting hotline.
Ineligible/High-Risk Areas
- Drivers with less than 2 years of experience.
- Truck models older than 2000.
- Risks with poor loss history or severe safety violations.
Canal distributes products through selected professional general agents, such as Amwins and Truckers Insurance Associates.