Commercial Truck Insurance: Everything You Need to Know

Whether you’re an owner operator or manage multiple semi-trucks, carry long-haul freight or own a drayage fleet, commercial trucking insurance is one of the most important expenses you need to account for in your business. In this article, we’ll explore what you should be looking for when purchasing commercial trucking insurance, including different types of coverages, requirements and factors that go into your insurance rating. Choosing the right motor carrier coverage is important and the best way to protect your fleet!


Owner operator standing in front of commercial truck.



















Commercial truck insurance:

What is it and what coverages do you need?


Commercial truck insurance is a specific grouping of insurance auto policies developed to cover trucking needs. Auto liability and general liability are typically the standard insurance coverages needed for commercial trucking fleets. Additional coverages may be added depending on the specific needs of a fleet.

Auto liability semi-truck insurance

This type of insurance is often required as part of a trucking license—it covers you while you’re on the road and protects people and property from damage caused by your truck. It does not cover theft, your bodily injury or damage to your truck.


The Federal Motor Carrier Safety Administration (FMCSA) sets the requirements and minimum amount of primary liability insurance for trucks over 10,000 lbs. Most trucks hauling most commodities are required to have a minimum of $750,000 of coverage. Many load brokers and/or shippers will require a minimum of $1,000,000, and some may require up to $5,000,000 for vehicles hauling certain specific hazardous materials.


General liability semi-truck insurance

With this type of insurance, you receive additional protections for accidents that happen off the road, or in the case of a lawsuit, against your business.

Through CarrierHQ’s Small Fleet Advantage program, fleet owners can count on the coverages they need with two included coverages: auto liability and general liability. Carriers can then add additional coverage options, depending on their needs. CarrierHQ offers the following coverages options:

  • Hired Auto

  • Trailer Interchange

  • Cargo

  • Uninsured Motorist (UM)*

  • Under Insured Motorist (UIM)*


Learn more about the various coverages, CarrierHQ has to offer or call 1-866-621-4145.


*If you do not elect additional UM/UIM coverage, your policy will include your state’s minimum requirements.


Commercial truck insurance costs

Curious about semi-truck insurance costs? Insurance companies use many different rating factors to calculate semi-truck insurance cost, and each can have a big influence on your premium. We recommend getting a custom quote to see what your rate would be or call us at 1-866-621-4145 to speak with our knowledgeable client success team.


Rating factors & commercial truck insurance costs

There are many different types of factors that insurance companies use when they are quoting you for commercial trucking insurance. Most insurance companies will determine rates based on fleet safety (from CSA scores), fleet age, type of operation, mileage, driver history, and losses.


CarrierHQ’s Small Fleet Advantage uses the following factors to influence your commercial truck insurance costs:


1. Fleet safety data based on telematics

2. Driver information, including age and driving record

3. Type of equipment used

4. Company age


Commercial truck Insurance near me

Commercial truck insurance rates can also vary based on region and which states you operate in. Want to learn more about commercial truck insurance rates for your state? Or want to just learn if CarrierHQ offers coverage in your state? Click here to find out and get a quote!



Is there cheap commercial truck insurance?


When you're looking for semi-truck insurance companies, the last thing you want to do is spend more than you need to. But it's dangerous to cut corners when it comes to your trucking insurance, especially when your trucks are your livelihood. Less coverage may mean cheaper premiums, but it could also mean less protection.


Instead of looking for cheap commercial truck insurance companies, consider insurance that gives you not only the best value, but put you in the driver’s seat when it comes to your monthly premiums. With CarrierHQ’s Small Fleet Advantage program, we take into account and reward safe driving habits, which means you can qualify for monthly premium reductions during your first year saving you up to 30%!


In addition to looking for adjustable-rate insurance programs, other things you should look for when choosing commercial truck insurance are:


Flexibility & scalability

As any fleet manager knows, the commercial trucking industry is a continuously changing industry. You may find yourselves having to adapt on the fly while a semi-truck is in the shop, or you may want to change your fleet size to meet your growing business needs. But not all commercial truck insurance companies understand this. They may lock you in with a specific fleet size. Look for insurance, like CarrierHQ’s program, that offer flexibility so you can easily add & remove units to fit your business needs and not deal with any additional hassles.


Ability to monitor fleet performance

When shopping for insurance, it also pays to look for providers that can help not just insure but improve your fleet. CarrierHQ, for example, provides customers with a Safety Center that allows fleet owners to access on-demand driving reports and safety data on their fleet. Features like this will help you build safer fleets, better drivers, and improve your bottom line with safety monitoring and reporting on the drivers and vehicles in your fleet.


Other ways to save


Another tip is to look for providers that offer other ways to save through their insurance programs. For example, CarrierHQ provides customers with savings through the following:


$0 down insurance with CarrierHQ Factoring

When you pair your trucking insurance with our factoring, you can create a

no money down insurance option, which allows you to free up more cash


Flexible payment options

Skip large down payments and premium financing. CarrierHQ offers flexible

options such as monthly payment.

Filing insurance with the FMCSA

Once you have secured the best commercial truck insurance for your company, you will also need to ensure that the proper insurance forms and endorsements required by the FMCSA are filed.

There are several insurance forms the FMCSA needs—the BMC-91, the BOC-3, the MCS-90—before it will issue you a new MC number. You do not fill out these forms. The FMCSA wants all forms submitted by the insurance company. The CarrierHQ Small Fleet Advantage program will submit these forms for you and will handle all your state filings as well if your state requires them.

However, it is your responsibility to get your insurance company the information it needs to submit the forms. When you sign on with the Small Fleet Advantage insurance program, we work with you to obtain the information needed to fill out and file the forms at no additional cost.

Commercial truck insurance quotes

Getting a quote for commercial truck insurance can be a lengthy process, especially if the quote is coming from a broker.


CarrierHQ’s quote process is unique in the industry, as it is provided directly from the insurance provider, and you can get your quote right away and you can even bind the same day! Additionally, the quoting process can be completed 100% online. It’s a no-hassle, fast way to get the information you need.



Ready to get your commercial truck insurance quote?

Whether you’re just starting up your fleet or are a seasoned pro, CarrierHQ can help guide and grow your commercial trucking business.


Want to learn more? You can click here for a quote in minutes. Do you have any questions? Give us a call at (866) 621-4145 or send an email to info@CarrierHQ.com

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