top of page
  • CarrierHQ

Most Common Types of Truck insurance

Updated: Feb 13

Why is truck insurance coverage important?

Commercial trucking insurance is a vital form of coverage for owner-operators or small trucking businesses. If you use your truck for business purposes, it's crucial to have commercial truck insurance coverage. This type of coverage is mandatory if:

  • You offer services using your truck

  • You charge a fee for transporting goods or people with your truck

  • Your business involves towing equipment or trailers for commercial purposes

  • You have employees who drive the truck

The type of insurance you need depends on factors such as the type of truck your drivers use, the goods they carry, their experience, and the risks involved. Your insurance package will likely include multiple types of coverage, so it's important to understand each one and how they work.

What is Commercial Trucking Insurance?

Commercial truck insurance is a type of coverage that protects you from costly bills in case your trucks are involved in an accident. If you drive a personal car, you know you need auto insurance to be legal on the road, and commercial trucking insurance is no different.

This insurance covers you when you use your truck to transport goods, customers, materials, or animals. If you use your truck for personal and professional purposes, a commercial insurance policy will fill in the gaps left by your personal auto insurance. However, this is not always the case for larger commercial trucking companies.

Trucking insurance policies typically start with primary liability coverage and then build from there with additional coverages. Federal regulations/requirements require primary liability coverage to protect property and people from damage caused by your trucks. However, you should also consider other types of trucking insurance for your company.

It's important to know commercial truck insurance is not limited to businesses that specialize in cargo transportation. Any business that utilizes trucks for commercial purposes, such as food trucks, caterers, landscaping companies, snow plowers, and more, requires this coverage.

Common Types of Insurance for Trucking Companies

Commercial truck insurance providers offer various types of coverage based on the business size, the number and types of trucks, and the freight being transported. Here are the most common types:

  • Primary Liability Insurance: This covers any bodily injury and property damage you may cause while operating the truck on the road. Federal law requires this coverage for any business that uses or leases trucks.

  • General Liability Insurance: This insurance, which is required by the state, protects your business from incidents that occur off the road during your daily operations, such as slip-and-fall accidents and delivery errors.

  • Non-Trucking Liability or Bobtail Insurance: This coverage protects you when you use your truck for non-business purposes on your off days.

  • Physical Damage Coverage: This coverage covers repairs or replacement of your commercial truck due to theft, collision, vandalism, or natural disasters.

  • Motor Truck Cargo: This insurance protects the goods you transport, covering losses from collision, fire, or striking. For instance, if your truck is stuck in an ice storm or heavy traffic, this coverage protects your cargo.

  • Uninsured/Underinsured Motorists: This coverage protects you if you are hit by someone who does not have liability insurance.

  • Reefer Breakdown Coverage: If you own refrigerated trucks, this coverage covers the cost of refrigeration breakdown, lost cargo, or product damage from a collision. Certain products may be excluded, such as tobacco products, frozen food, or seafood.

It's important to remember that while cheaper trucking insurance may be tempting, it may not provide the protection you need. Basic liability insurance coverages may be similar across insurance providers, but you should thoroughly examine other coverages before making a decision.

These are just a few of the many policy options available to protect your commercial trucking investment. Other options include trailer interchange, rental reimbursement, and medical payment for truck drivers and riders. The cost of premiums varies, so it's best to speak with a reputable truck insurance company like us at CarrierHQ, for more information on which coverage options are best for you.

How Can You Get Commercial Insurance Coverage?

Obtaining commercial auto insurance is a straightforward process, and the best way to do so is by working with us at CarrierHQ! We'll evaluate your business operations and the way you use your vehicles to recommend the right coverage at a fair price.

Cost of Commercial Auto Insurance Policy

The cost of a commercial auto insurance policy varies, depending on several factors such as:

  1. The size of your business

  2. The number and types of vehicles to be insured

  3. The number of employees who will drive the insured vehicles

  4. The cost of the vehicles you hire

  5. The level of risk involved in your business and driving practices

  6. The amount of coverage you want

CarrierHQ can help you find a policy that is both affordable and offers adequate protection for your business.

Coverages at CarrierHQ

Over at CarrierHQ here are coverages we offer. Get a quote today or reach out to a CarrierHQ representative with any questions you may have!

  • General Liability

  • Auto Liability

  • Hired Auto Liability

  • Cargo Insurance

  • Trailer Interchange

  • Uninsured/Underinsured Motorist Coverage

  • Property Damage & Bodily Injury Liability Coverage

30 views0 comments

Recent Posts

See All
bottom of page