The trucking business is essential to Florida’s and the nation’s economy. With heavy motor vehicles weighing 80,000 pounds or more sharing the roadways with much smaller cars, strict laws and regulations are critical to secure everyone on the road. When truck drivers or trucking businesses ignore their legal duties, they put everyone at risk for a devastating tragedy.
That said, commercial trucks are essential to the nation's economy because they travel billions of miles through the nation's highways and byways to transport essential goods. Unfortunately, the liability associated with this important service is nearly equal to the number of miles driven.
In order to register a commercial truck in Florida, you must carry a certain amount of insurance coverage. Florida's minimum requirements vary based on the weight of your truck. Numerous insurance providers offer coverage to match any need, but the key to saving money is comparing options.
Florida commercial truck insurance providers can provide liability limits of up to $1,000,000. There are higher limits available.
State minimum requirements (depends on the weight of the vehicle):
| At least $10,000 | Personal Injury Protection (PIP) |
| At least $10,000 | Property Damage Liability |
| $125,000 per personUp to $250,000 per occurrence | Bodily Injury Liability |
Florida Commercial Truck Insurance has the following minimum insurance requirements for larger commercial trucks:
As with most other vehicle insurance policies, a trucking and transportation policy includes various coverage options. Each insurance coverage is designed to safeguard your business and personal assets against catastrophic loss. Your trucking company's required coverage may include:
| Primary Liability Coverage | This can protect you against the liability risks you will face if you or one of your employees is deemed to be at fault in an accident. Your liability insurance will cover bodily injury claims, giving financial assistance for the injured party's medical expenditures. In addition to bodily injury, your liability policy will also cover property damage. If legal action is taken against you as a result of the accident, your liability insurance will pay the expense of your defense, regardless of whether you are found at fault. |
| Physical Damage | This is the part of your Commercial Trucking Insurance coverage you must pay to repair or replace your own vehicle in the event of an accident or other incident. Both comprehensive damage caused by theft, vandalism, animals, or harsh weather and collision damage caused by an accident can be covered. |
| Underinsured or Uninsured Motorists Insurance | If your vehicle is destroyed or you are injured in an accident caused by a driver without enough or no insurance coverage at all, this policy will pay for the damages. In Florida, uninsured drivers are only responsible for medical coverage, not property damage. |
| Cargo Coverage | If the items your vehicle is transporting are destroyed or lost during shipment, you will need this insurance to cover the situation. |
In Florida, the average cost of truck insurance is $15,522.
The average premium ranges between $12,648 and $17,856.
These rates are based on truckers with a single truck who require liability, cargo, and physical damage insurance. There are a number of factors that affect the cost, including what you are transporting, your driving history, and the length of time you have been in business.
Since different truck insurance companies like different types of risks, it’s wise to shop around and find a provider that is competitive with writing insurance for your individual situation. The bottom line is that you want cheap vehicle insurance without losing coverage.
