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Steps You Need to Take Before Getting Insurance as a New Trucking Authority

Truck Insurance for New Authority: Easy Steps to Get You Covered

If you are a new trucking authority, getting insurance coverage is a crucial step in ensuring the success and longevity of your business. Trucking insurance not only protects your business assets but also helps you comply with regulations set by the Federal Motor Carrier Safety Administration (FMCSA). In this blog, we will discuss the steps you need to take to get truck insurance as a new authority.

Step 1: Obtain an FMCSA Operating Authority

Before you can begin shopping for insurance, you must first obtain an FMCSA operating authority. This means registering with the FMCSA and obtaining a Motor Carrier (MC) number. You will also need to select the type of operating authority that is appropriate for your business. This may include a common carrier, contract carrier, or broker authority.

Step 2: Get Your FMCSA Licensing and Insurance Requirements in Order

After obtaining your operating authority, you will need to ensure that you have met all of the FMCSA licensing and insurance requirements. These requirements may vary depending on the type of authority you have obtained, but typically include minimum levels of liability insurance, cargo insurance, and surety bonds. Learn more about the FMCSA truck insurance requirements here.

Step 3: Shop Around for Trucking Authority Insurance

Once you have your licensing and insurance requirements in order, you can begin shopping for insurance coverage. It is important to do research and shop around for the best coverage and rates. That is exactly what we will do on your behalf! Let CarrierHQ help you find the best rates and policies tailored to your trucking authority. Our agents specialize in trucking insurance and have experience working with new authorities.

Step 4: Gather Necessary Information

When applying for insurance, you will need to provide detailed information about your business and operations. This may include information such as your driving history, the types of goods you will be hauling, and the routes you will be taking. Make sure to have all of the necessary information gathered and organized to make the application process as smooth as possible.

Step 5: Evaluate Coverage Options

Once you have received insurance quotes, it is important to carefully evaluate your coverage options. Look for coverage that meets all of your needs and provides adequate protection for your business. Consider factors such as deductibles, limits of liability, and additional coverage options such as physical damage and general liability coverage. Read more here about different types of coverage options here.

Overall, obtaining truck insurance as a new authority can seem like a daunting task, but by following these steps, you can ensure that you are properly protected and compliant with FMCSA regulations. Not only that, but CarrierHQ can walk you through the process! Remember gather necessary information and carefully evaluate your coverage options to find the best insurance solution for your business.

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