Since the Federal Motor Carrier Safety Administration (FMCSA) requires $750,000 worth of general liability per accident, consider getting as much non-trucking liability (NTL) insurance coverage as well. A typical NTL policy with $1,000,000 in coverage costs $30 to $50 per month.
Insurance providers typically consider the following factors when computing your NTL insurance premiums:
Do not skimp on your non-trucking liability insurance. A $1,000,000 coverage sets you back by less than $50 every month — a small fee for total protection while driving your truck for personal use as well.
Also, ask your insurer about what policies bolster NTL insurance. Adding physical damage, bobtail insurance, and uninsured/underinsured motorist coverage ensures that your truck is protected 24/7, even during off-duty hours.
Do you need a quick primer on how much truck insurance costs? Assured Standard has you covered! Read our brief piece summarizing the average premiums that truckers pay per annum for insurance.
Arthur started Assured Standard after seeing his sister struggle with finding insurance policies for her business. Thanks to his background in business administration, he knows exactly what small and big businesses need to keep operations running.