Depending on the state you live in, the minimum amount of insurance required for a trucking company can vary significantly. The Federal Motor Carrier Safety Administration (FMCSA) has specific limitations for truck drivers, but Texas typically requires a minimum of $300,000 in coverage ranging up to $5,000,000.
The amount of minimum coverage varies depending on if the truck is operating on an interstate basis or whether it only operates within Texas borders.
Heavier trucks that transport hazardous goods require higher coverage limits to compensate for the amount of risk involved. However, commercial trucks operating within Texas are legally required to have the minimum coverage options:
If you own trucks that operate across state lines, you should also check the minimum FMCSA insurance requirements. For instance, a truck that carries household goods outside state lines and weighs over 10,001 pounds needs a minimum coverage of $750,000.
In addition, it is important to note that the listed requirements are the legal insurance minimums required. Purchasing higher coverage limits can provide a more effective safety net for trucking companies that might incur unexpected losses.
Read on to learn more about the average cost of monthly trucking insurance at Assured Standard!
The minimum insurance required varies based on what the truck is carrying, ranging from $300,000 for trucks carrying household goods to $5,000,000 for those carrying hazardous materials.
Yes, interstate trucking operations should also meet Federal Motor Carrier Safety Administration (FMCSA) insurance requirements, such as a minimum coverage of $750,000 for trucks over 10,001 pounds carrying household goods outside state lines.
Yes, investing in higher coverage limits can provide a more effective safety net for trucking companies against unexpected losses.
Unravel the requirements for Texas trucking companies' auto insurance coverage in our blog post. As you explore, delve into our insights on commercial auto insurance to ensure your trucks are fully protected. Your journey to compliance and comprehensive coverage starts right here.
