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    Georgia Commercial Trucking Insurance

    Georgia Commercial Trucking Insurance

    In Georgia, there are 62,500 truck drivers employed by 32,000 trucking companies. There are numerous hazards involved with trucking businesses, including accidents, theft, and unanticipated truck problems. Operating a trucking business in Georgia necessitates obtaining commercial truck insurance. In fact, it is necessary for Georgia. Not only will commercial truck insurance help you manage the costs associated with damage to your truck, but it will also help you manage the costs involved with damage to other vehicles and lawsuits arising from injuries and deaths caused by accidents.

    Requirements Of Commercial Trucking Insurance In Georgia

    Commercial Trucking Insurance In Georgia

    Both the FMCSA and Georgia require insurance requirements for commercial motor carriers. While some coverages, such as primary liability, are required, others, such as physical damage truck insurance and bobtail coverage, are typically included in comprehensive coverage.

    Included among the commercial motor vehicles overseen by the FMCSA or DOT are:

    • Construction trucks
    • Logging trucks
    • Intrastate hauling
    • School buses
    • Cement trailers
    • Garbage, dump trucks
    • Public transportation vehicles
    • Residential and business movers
    • Limousines
    • Towing and storage trucks
    • Vans for the elderly or disabled
    • And more

    Local or intrastate motor carriers are required by Georgia law to carry at least $100,000 per person and $300,000 per accident in liability coverage. If you do not cross state borders and your truck's gross vehicle weight exceeds 10,000 pounds, you must obtain an intrastate-only USDOT Number (GVW).

    Notably, in Georgia, insurance coverage must permit personal injury victims to sue the truck operator's insurance company apart from the motor carrier and its liability insurer. The underlying policy must meet with state insurance laws protecting the general public from harm caused by the negligence of the motor carrier. Personal injury sufferers may be eligible to compensation for lost wages, medical bills, pain and suffering, and other costs associated with the accident.

    Georgia trucking insurance policies adhere to FMCSA requirements that:

    • Interstate freight-hauling trucks carry $750,000 in liability insurance
    • Oil-hauling trucks carry $1,000,000 in liability insurance
    • Trucks transporting hazardous goods (Hazmat) must carry at least $5,000,000 in liability insurance
    • Trucks transporting household goods must be insured for at least $300,000
    • Vehicles transporting 12 or more passengers must be insured for at least $500,000

    Many insurers provide umbrella policies that extend coverage by several million dollars. These include:

    Non-trucking (Bobtail) Liability

    Non-trucking

    The entire time spent in a truck is not chargeable, but it is insured. When you use your truck for personal reasons, insurance coverage is required.

    Non-Trucking Liability provides coverage for third-party property damage and physical injury when vehicles are utilized for non-business reasons.

    Cargo Insurance

    In addition to protecting your trucks, it is essential to safeguard the cargo you are transporting, whether it is yours or a client's. Coverage is computed based on the type of goods transported and the shipper's specifications.

    Physical Damage Insurance

    When driving, you are always exposed to risk. Your truck could be damaged in a collision or by some other misfortune. It is susceptible to theft and vandalism. Any of these problems could render your truck inoperable and jeopardize your business.

    Unless your vehicle is leased, physical damage insurance is not necessary for your truck. If physical damage coverage is optional, 24-hour collision coverage for your tractor or trailer is included.

    Commercial Vehicle Registration In Georgia

    In Georgia, commercial vehicles are any vehicle weighing over 10,000 lbs. 

    The application for all commercial vehicle titles must be made at the County Tag Office where the owner resides or where their business operates from. IRS Form 2290 is a requirement for commercial vehicles that weigh 55,000 lbs. or above.

    There are two types of commercial vehicle registration in Georgia:

    • Intrastate Registration: If your commercial vehicle or fleet does not travel outside state borders, you must register it at your Country Tag Office.
    • International Registration Plan (IRP): You may complete the online registration at the Georgia Trucking Portal for commercial vehicles that operate in and outside Georgia.

    Renewal is easier if you register your commercial fleet under the International Registration Plan. You only have to do it on a fixed date, so you won’t have to process multiple renewals yearly.

    Commercial Trucking Statistics In Georgia

    128,397 miles of public roads run through Georgia. Its interstates connect the entire Southeastern U.S., so it's no surprise that millions of commercial vehicles come in and out of Metro Atlanta every year. Take a look at these numbers that are relevant to commercial trucking companies:

    • There are 32,000 trucking companies in Georgia, and many of them are small businesses
    • There are 265,890 trucking-related jobs in Georgia, making up 1 in 14 jobs in the state
    • Commercial trucks transport 294,220 tons of products every day
    • 76.1% of local communities depend on trucks to move their goods
    • In 2018, Georgia’s trucking industry paid $1.1 billion in federal and state roadway taxes
    • As of January 2020, five-axle tractor-semitrailer combination vehicles paid $6,020 in state highway user fees and taxes and $8,906 in federal highway user fees and taxes
    • 43% of commercial vehicles in the U.S. use near-zero emission diesel technology
    • Combination trucks used 100 billion fewer gallons of fuel than passenger vehicles did

    Frequently Asked Questions 

    Here are commonly asked questions related to Georgia commercial trucking insurance:

    What’s the first thing to do after purchasing a commercial truck?

    You need to apply for commercial truck registration before you start operating. If you plan to travel outside Georgia, you must register under the International Registration Plan. After that, you have to ensure your commercial vehicle has sufficient insurance coverage.

    How much does commercial truck insurance cost in Georgia?

    Commercial trucking insurance typically costs $15,890. Premiums will range from $12,406 to $17,705, depending on your business needs and operations. These average costs are based on commercial truckers looking for cargo, liability, and physical damage insurance for one vehicle.

    What does Georgia commercial trucking insurance cover?

    Commercial trucking insurance is similar to personal auto insurance in many ways. It usually includes liability insurance, non-trucking liability, cargo insurance, collision insurance, and, if the vehicle has attached trailers that you don’t own, non-owned trailer damage and liability. 

    Talk to a commercial truck insurance agent to explore your options for comprehensive coverage.

    Other Insurance Types

    Your insurance agent must submit specific filings to both Georgia and the FMCSA. Your insurance agent or firm will prepare these forms for you. Check out this page from Assured Standard for more information on commercial trucking insurance!

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    Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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