Trucking Business Insurance
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Business owner’s policy for trucking companies

A business owner's policy, or BOP, bundles two insurance policies at a discount. Small, low-risk trucking companies often qualify for this package.

A business owner's policy provides affordable, comprehensive coverage

A business owner’s policy provides an affordable, broad defense against the unique risks facing trucking companies. A BOP bundles general liability insurance and commercial property insurance, usually at a lower rate than purchasing the policies separately.

A BOP safeguards against:

  • Customer injury lawsuits
  • Customer property damage lawsuits
  • Advertising injury lawsuits
  • Damage to your building, equipment, and other business property

Tailor a BOP to fit your trucking company

Trucking business owners can customize a BOP to meet their specific needs. You can add the following types of coverage to your policy:

However, not every business is eligible for a BOP. Businesses that qualify for a BOP typically:

  • Have fewer than 100 employees
  • Have a small office or workplace
  • Make less than $1 million in annual revenue
  • Operate in a low-risk industry
  • Need less than 12 months of business interruption insurance

Speak with a licensed Insureon agent to learn whether your business is eligible.

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What coverage can a business owner’s policy provide for trucking businesses?

A business owner's policy covers the following risks for trucking companies.

Accidental damage to third parties (non-employees)

The general liability portion of a business owner’s policy can pay for legal fees, medical bills, and other expenses related to accidental third-party injuries or damaged property.

A BOP can cover costs in the following examples:

  • A client trips over a crate and suffers a concussion at your warehouse
  • An employee knocks over a shelf at a client's business
  • A delivery person slips on an icy step at your office

Defamation and other advertising injuries

The general liability portion of a BOP also provides coverage against advertising injuries, including:

  • Libel (written defamation) and slander (spoken defamation)
  • Copyright infringement
  • Invasion of privacy

For example, if an employee at your trucking company posts a negative comment about a competitor on social media, general liability insurance can help pay for your legal defense.

Damaged or stolen business property

A BOP includes commercial property insurance that protects:

  • Your building if you own it
  • Office furnishings and fixtures
  • Trucking business supplies and equipment

This policy reimburses you for theft, vandalism, or a damaging weather event. It also covers property damaged or destroyed by a fire, whether it started at your business or elsewhere.

Temporary closure

Most BOPs include business interruption insurance, which activates when your business is forced to close due to a hail storm or other covered claim.

This coverage pays for daily operating expenses, lost revenue, and other costs related to the closure. For example, it can cover the cost of renting a space if your office has to close for renovation after a fire.

Other important policies for trucking firms

A business owner's policy provides broad coverage against numerous risks in the trucking industry, but it's not the only policy you need. Small trucking companies often purchase:

Workers' compensation insurance: Workers' comp is required in most states for businesses with employees. It covers medical costs for employees who are injured on the job. Sole proprietors should also consider this coverage, as personal health insurance usually excludes work-related injuries.

Commercial auto insurance: This policy covers the cost of accidents involving your company's trucks and other vehicles, including medical payments and legal defense costs. Most states require this coverage for vehicles owned by a business.

Trucking firms typically also purchase inland marine cargo insurance, which covers property while in transit that the firm is legally responsible for insuring, and trailer interchange coverage, which pays for physical damage to a trailer that the truck driver doesn't own. They may also need a surety bond to comply with laws in their state.

Get free quotes and buy online with Insureon

Are you ready to safeguard your trucking company with a business owner's policy? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage and get a certificate of insurance in less than 24 hours. You can also consult with an insurance agent to make sure your coverage matches your business needs.

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Updated: August 30, 2023
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