Dually trucks—six-wheeled pickup trucks with two wheels at the front and four wheels at the back sharing one axle—make the perfect heavy-duty tow rig. Models like the Ram 2500 even boast a whopping payload capacity exceeding 3,990 lbs. Before using your dually truck for daily hauling, however, we suggest protecting your vehicle and cargo load with sufficient insurance.
If you plan on using your dually truck to transport cargo regularly, you would need a hot shot insurance policy. Premiums average at around $8,000 to $12,000 per annum. However, insuring models from high-end brands like Ford, Ram, or Chevrolet could set you back by well over $12,000—especially if you haul high-value cargo.
Insuring dually trucks is quite expensive, but you can accurately project the estimated premiums by understanding the factors that insurers consider:
Paying expensive hot shot insurance premiums might hurt, but they are crucial to business continuity following road accidents. After considering the medical bills, legal fees, vehicle repair charges, and productivity loss associated with traffic crashes, these perils can set you back by upward $100,000 to $200,000. Meanwhile, hot shot insurance only costs $10,000 per year.
Assured Standard emphasizes that tow truck companies would do well to insure hauled vehicles. Learn about how tow truck drivers can utilize their insurance policies for third-party liability claims protection.