Trucking Liability Insurance
To stay legal while on the road, you will need Primary Trucking Liability Insurance as a minimum. This is usually the most costly portion of any trucking company’s insurance package. Primary liability will pay for injuries to other drivers on the road and any damage to public property that may be caused from an accident. This coverage is mandated by state and federal agencies at a minimum of $750,000 combined single limit. However, we recommend that you consider purchasing higher limits as truck accidents can easily cause damages in the millions. Most freight brokers and shippers will require you to carry at least $1,000,000 in coverage. Hazardous material haulers such as gasoline and chemical haulers are required to carry $5,000,000 in liability coverage.
What Trucking Liability Insurance does for you:
Trucking Liability Insurance will not cover damage to your own vehicle. It also doesn’t protect you in the event of theft, fire, vandalism or other disasters that may occur to your truck. It also doesn’t cover damage to your trailer or cargo.
Trucking Liability Insurance is generally rated and supplied to you on a “scheduled vehicle” basis. “Scheduled” simply means that each truck which operates under your authority must be scheduled or listed on the insurance policy. If the vehicle is not on the schedule, then the insurance company is not required to give coverage for the non-listed vehicle. If you happen to have only a few vehicles on your policy then this is normally not an issue. However, for larger trucking companies with hundreds of vehicles this can become a task. You need to be careful and make sure that your communication with your broker is well established. This is where having a good broker really pays off.
For larger fleets, the policy can be issued on an “any auto” basis where no vehicle schedule changes are needed. This type policy insures you for your use of owned, non-owned, hired vehicles, subcontracted vehicles, even for the use of private passenger type vehicles. These policies can be written on a gross revenue or mileage premium rating method. In most cases selecting these options properly simplifies and can reduce the overall cost.
Hired and Non-Owned Auto Liability Coverage
Hired and Non-Owned Auto Liability Coverage is an extremely valuable coverage, related to commercial auto liability, for your business . Even in the event that your company doesn’t have any vehicles titled in its name, you should still carry coverage for Hired and Non-owned Auto Liability Insurance which can be endorsed onto your Package or General Liability Insurance policy, or can be written as stand alone coverage. This non-owned auto liability insurance coverage becomes vital in the event that an employee or agent of the company is involved in an accident in their personal vehicle on company business. In that case the company and the individual can both be at significant risk
Non-Owned Auto Liability insurance protects your company if it is brought into a lawsuit resulting from an auto accident involving a vehicle owned by you personally, or owned by one of your employees (not owned by the company) if they were using it for company business. Hired Auto Liability also protects your company interests in the event that it is sued resulting from an auto accident due to the use of a leased or rented vehicle by one of your employees while on company business.
Talk to your insurance broker to determine the best policy option for your business.
Please complete our one page quick quote sheet for a quick premium indication or call us at (855) 265-9999 to speak to one of our licensed trucking agents.
DISCLAIMER: Coverages may vary by state and by insured business. Consult your agent about coverages you may need for your unique situation. Coverage descriptions above are for general information only. Actual coverage is subject to all terms, conditions and exclusions of the policy.
We can provide the following types of truck insurance:
• primary liability
• physical damage
• motor truck cargo
• occupational accident
• workers compensation
• general liability
• broker bonds
We can provide trucking insurance for:
• owner/operators or fleets
• local, intermediate, or long-haul operations
• dump trucks, straight trucks, or tractor/trailers
• hot shot operators
• container haulers
• agricultural haulers
• car carrier operators
Some coverage programs can include:
• Rates starting at $400/Month/Truck
• Mileage or Revenue Reporting Form
• 24/7 Access to Certificate of Insurance
• Profit sharing physical damage policies
• Complimentary DOT safety programs
• “A” Rated Insurance Companies