Commercial Truck Insurance 101
The Basics
Primary Liability – Primary Liability Insurance coverage protects you from damage or injuries to other parties as a result of an accident. This insurance coverage is regulated by State and Federal Government Agencies with proof of coverage being mandated to ensure minimum requirements are being upheld. Our A+ rated carriers provide coverage starting $35,000 to $1,000,000 or higher depending on experience. Overall premium pricing is determined by risk classification, region located and coverage area, driving records, and history of the trucking operation. For more information, schedule a consultation or call us today.
Physical Damage – We understand that during normal operation you can be faced with uncertainty while on the open road. Truckers Physical Damage Insurance coverage is for repair or replacement for damage resulting from things such as collision, fire, theft, hail, windstorm, earthquake, flood, mischief, or vandalism. Our A+ rated carriers base your premiums on the value of your equipment, this policy is typically required for leveraged or leased vehicles.
Motor Truck Cargo – Who is responsible for your cargo? Cargo insurance protects the carrier in case of lost freight or damaged goods. There is a maximum load limit per vehicle with this policy. Truck insurance coverage limits can range from $10,000 to $1,000,000 with excess policies available upon request. Pricing for this insurance is mainly dependent on the type of cargo being hauled.
Trailer Interchange – Trailer Interchange Insurance is coverage for the legal liability of truckers for loss or damage to non-owned trailers and equipment which are in the insured’s possession under a written trailer interchange agreement.
Non-Trucker Liability – Non-Trucking Liability (Bobtail Coverage) provides limited liability truck insurance for owner-operators who are permanently leased to an ICC regulated carrier. It provides limited liability protection when the owner-operator is not on dispatch, nor pulling a loaded trailer. For example, this coverage would apply when the owner-operator gets their truck washed or brings their trucks into a shop for repairs. Once the owner-operator is under dispatch, they are covered under the Primary Liability insurance policy of the company they are leased to.
Workers’ Compensation – Workers compensation insurance protects your employees and your business from work-related illnesses or injuries. The coverage is mandated by each state and the workers compensation laws and benefits vary by state.
Carrier Coverages:
- Long-Haul Trucking Insurance
- Short-Haul Trucking Insurance
- Agricultural Insurance
- Construction/Excavators Insurance
- Passenger Carrier Insurance
- Fuel Hauling/Hazmat Insurance
- Towing Company Insurance
- High Risk Carrier Insurance
- Fleet Policy Insurance
- Last-Mile/Mid-Mile Insurance