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Recommended insurance policies for commercial trucking
Your trucking business may also need inland marine cargo insurance, a surety bond, and trailer interchange coverage to comply with regulations and protect against industry risks.
Commercial auto insurance
Commercial auto and trailer coverage for truckers can pay for property damage and medical bills in an accident. Commercial auto insurance is required for trucking businesses in most states.
BEST FOR
- Accidents involving commercial trucks
- Vandalism and theft
- Weather damage
General liability insurance
This policy covers common trucking risks, such as trips or falls in a dispatch office or on the grounds of any location the trucking firm uses for storage.
BEST FOR
- Slip-and-fall accidents
- Damaged customer property
- Libel and slander lawsuits
Workers' compensation insurance
Most states require workers' comp for commercial trucking businesses with employees. It also covers work-related medical bills for sole proprietors, which personal health insurance could deny.
BEST FOR
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Business owner's policy
A BOP is a cost-effective way for businesses in the trucking industry to buy general liability coverage and commercial property insurance together. It protects against common lawsuits and property damage.
BEST FOR
- Accidents that harm clients
- Stolen or damaged business property
- Business interruption insurance
Cyber insurance
This policy helps trucking businesses survive data breaches and cyberattacks by paying for the cost of notifying affected clients, legal fees, and other related expenses.
BEST FOR
- Data breach lawsuits
- Fraud monitoring costs
- Cyber extortion demands
Looking for different coverage? See more policies.
Does my trucking business need commercial auto insurance?
Most trucking businesses will need to purchase commercial auto insurance. However, the amount of coverage will depend on several factors:
- Where your business operates
- The type of cargo you move
Additionally, the Federal Motor Carrier Safety Administration (FMCSA) requires owners to have certain insurance coverages before trucks can even hit the road, especially for long-haul truckers who cross state lines.
Check the laws in your state to see when coverage is required.
How much does commercial trucking insurance cost?
The cost to properly insure your commercial trucking operations business will depend on several factors, including:
- The number and type of vehicles you own
- Level of risk involved
- Your claims history
- Employee driving records
- Types of coverage, policy limits, and deductibles
How do I get commercial trucking insurance?
It’s easy to get truck insurance quotes for your business. Whether your focus is on tow trucks, box trucks, freight brokering, or off-road trucks, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application
- Compare free quotes and choose a policy
- Pay for your policy and download a certificate for proof of insurance
Insureon's licensed insurance agents work with top-rated U.S. commercial truck insurance companies to find you the best coverage options for your business.
Whether you’re a single owner operator or work with a whole fleet of different types of trucks, such as refrigerated trucks, semi-trucks, motor carriers, tractor-trailers, or haulers, there are insurance options to meet your trucking insurance needs.
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Commercial truck insurance made simple
View video transcript.
[video: an animated header displays the Insureon logo. Underneath it, a subheading displays the text: "What is commercial truck insurance and do I need it?"]
MALE VOICEOVER: If you own a box truck, semi-truck, tow truck, or you're thinking about becoming a trucking business owner-operator, you've probably asked yourself one question: What kind of truck insurance do I actually need?
[video: an illustrated header displays the text: "What commercial truck insurance do I need?"]
Commercial truck insurance isn't just one policy. It's a combination of different coverages designed to protect your operation from accidents, lawsuits, cargo losses, and other unexpected costs.
So, let's break it down.
[video: an illustrated header displays the text: "Commercial truck insurance is a combination of different coverages."]
First, there's commercial auto insurance. This is the foundation of trucking insurance. It's required if your business owns a truck. It can help pay for property damage, medical expenses, vehicle repairs, theft, vandalism, and legal costs after an accident.
If you're operating across state lines, you may also need to meet Federal Motor Carrier Safety Administration insurance requirements, or FMCSA, before your truck can legally hit the road.
[video: an illustrated header displays the text: "Commercial auto covers:"]
[video: under above header, displays the three bullet points: "Accidents involving commercial trucks"; "Vandalism and theft"; "Medical expenses and legal costs"]
You should also consider carrying dedicated cargo coverage. If you are transporting products for customers, motor truck cargo insurance, or MTC, can help protect your clients' goods if they're damaged, stolen, or destroyed during transit. If your policy includes earned freight coverage, it will also help recuperate lost income from undelivered freight.
Many shippers and contracts require this coverage before working with you.
[video: an illustrated header displays the text: "Motor truck cargo (MTC) covers:"]
[video: under above header, three bullet points display the text: "Damaged cargo"; "Removal of spilled cargo"; "Lost profits from undelivered freight"]
Another important policy is general liability insurance.
While commercial auto covers accidents involving your truck, general liability covers other third-party business risks. That includes someone slipping and falling at your office or an employee accidentally damaging a customer's property while providing them with a quote.
[video: an illustrated header displays the text: "General liability covers:"]
[video: under above header, three bullet points display the text: "Slip-and-fall accidents"; "Libel and slander lawsuits"; "Damaged customer property"]
If you have employees, you'll also likely need workers' compensation insurance. Most states require it, and it helps cover medical bills and lost wages after a work-related injury.
[video: an illustrated header displays the text: "Workers' comp covers:"]
[video: under above header, three bullet points display the text: "Employee medical expenses"; "Lawsuits from employee injuries"; "Disability benefits"]
For owner-operators and growing trucking companies, there are additional coverages worth considering, including trailer interchange coverage, inland marine insurance, cyber insurance, and non-trucking liability coverage.
[video: an illustrated header displays the text: "Additional policies to consider as your business grows:"]
[video: under above header, four bullet points rotate through and display the text: "Trailer interchange coverage"; "Inland marine insurance"; "Cyber insurance"; "Non-trucking liability (NTL) coverage"]
Another big question that business owners ask is how much truck insurance costs. The truth is, pricing varies based on factors like your vehicle type, cargo, driving history, claims history, location, and coverage limits.
That's why two trucking businesses with similar trucks can receive very different insurance quotes.
[video: an illustrated header displays the text: "Commercial truck insurance costs vary based on:"]
[video: under above header, four bullet points rotate through and display the text: "Vehicle and cargo type"; "Driving and claims histories"; "Where you operate"; "Coverage limits and deductible"]
The right trucking insurance isn't about buying every available policy, or even the cheapest option. It's about choosing coverage that matches your operation, contracts, and risk levels.
[video: an illustrated header displays the text: "The best truck insurance is the one that meets your business needs."]
One of the best ways to save money on commercial truck insurance is by comparing quotes from multiple carriers instead of accepting the first offer you receive, as coverage options and pricing can vary between insurers.
[video: an illustrated header displays the text: "Money saving tip:"]
[video: under above header, two new headers display the text: "Compare quotes from several insurance companies..."; "...as coverage options and pricing can vary between carriers."]
At Insureon, you can compare quotes from top-rated insurance carriers in minutes and find the best coverage before you hit the road.
[video: an illustrated header displays the text: "Insureon is the #1 digital agency for small business insurance."]
Tap the link to get small business insurance that you can count on.
[video: an animated header displays the Insureon logo]
Common questions about commercial trucking business insurance
Does trucking liability insurance cover personal use?
Each state's department of transportation (DOT) requires drivers to buy a personal auto insurance policy for their vehicle, and most states require commercial auto insurance for company-owned vehicles.
However these insurance product’s coverage doesn’t cross over. Your personal car insurance policy won't cover an accident while on the job, and a commercial truck insurance policy won't apply to incidents during personal use.
Additionally, going without auto liability coverage can result in state penalties, as well as a possible loss of driving privileges. And a lack of comprehensive auto coverage also leaves your business vulnerable to tremendous financial losses if you’re involved in an accident.
If you or your company regularly uses rented or non-owned trucks, hired and non-owned auto (HNOA) insurance would protect your business. It would also cover a full-time employee driving their own truck for a work errand.
What is bobtail truck insurance?
If a truck driver has just delivered their haul, this coverage would ensure they're protected while the truck is not being used for trucking purposes, such as driving home.
This policy is also known as bobtail liability insurance or a non-trucking use endorsement on a business auto policy (BAP).
BAP coverage includes auto liability insurance and auto physical damage, with the option to include additional coverage. It can cover commercial vehicles that the business owns or leases, as well as employee-owned vehicles used for business purposes.
What other insurance policies should trucking businesses carry?
To fully protect your trucking business, we strongly recommend considering the following coverages:
- Cyber insurance, also called cybersecurity insurance, insures against the high cost of a data breach or a malicious software attack. It covers the cost of customer notification, credit monitoring, legal fees, and fines.
- Commercial inland marine insurance protects business property in transit, which is typically excluded from commercial property insurance.
- Trailer interchange coverage provides physical damage insurance for trailers being pulled under a trailer interchange agreement and will protect you if the trailer is damaged by collision, fire, theft, explosion, or vandalism
- Non-trucking liability (NTL) insurance covers accidents that occur while driving trucks for non-work activities, like running personal errands or driving a truck home after a drop-off.
- Motor truck cargo insurance, otherwise known as cargo insurance, provides coverage on the freight hauled by your trucking business. It covers your liability for cargo that's lost or damaged due to causes like fire, collision, or striking of a load.
- A mobile equipment endorsement extends your auto insurance coverage to include “non-auto” mobile equipment, such as a tractor or forklift, while it’s driven on a public road.
- Surety bonds guarantee your customer will receive financial reimbursement if your business fails to fulfill the terms of a trucking contract. They also help small businesses obtain necessary licenses and permits.
- Occupational accident insurance (OAI): Similar to workers' comp, this voluntary policy protects independent contractors and owner-operators from work-related medical bills.
Read our blog posts
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A sole proprietorship is a business that’s owned and operated by one person, while a limited liability company (LLC) can be formed by an individual or a group of entrepreneurs. Each has their own...
Each state has its own regulations for workers' compensation which determine when your business is required to carry it. The cost of workers' compensation insurance varies by state as well.
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