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How Much Is Commercial Insurance For A Dually Truck?

How Much Is Commercial Insurance For A Dually Truck?

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.

Factors That Could Affect the Cost To Insure Your Commercial Dually Pickup Truck

Insuring dually trucks is quite expensive, but you can accurately project the estimated premiums by understanding the factors that insurers consider:

  • Vehicle Year and Model: As we mentioned above, expensive models from high-end brands would cost more to insure.
  • Business Nature: Insurance companies follow a specific set of factors to judge the risk and insurability of certain business operations.
  • Cargo Hauled: Your insurer will likely charge extra if you regularly haul high-value goods and equipment.
  • State: As with every other commercial truck insurance policy, insurance in states prone to traffic accidents and road hazards costs significantly more.

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.

Frequently Asked Questions:

What is a dually truck?

A dually truck is a six-wheeled pickup truck with two wheels at the front and four wheels at the back sharing one axle.

What type of insurance do I need if I use my dually truck for transporting cargo regularly?

For regular cargo transportation, you need a hot shot insurance policy.

How much does hot shot insurance for a dually truck typically cost?

Hot shot insurance premiums average at around $8,000 to $12,000 per year, but it can exceed $12,000 for high-end brands.

What factors could affect the cost of insuring a commercial dually pickup truck?

Factors include the vehicle year and model, the nature of your business, the value of cargo hauled, and the state where the truck is operated.

Why is hot shot insurance crucial despite its high cost?

Hot shot insurance is crucial for business continuity following road accidents, as it covers costs like medical bills, legal fees, and vehicle repair charges.

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.

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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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