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How Much Non-Trucking Liability Insurance Should I Get?

How Much Non-Trucking Liability Insurance Should I Get?

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.

Factors That Affect the Cost of Your Non-trucking Liability Insurance Premiums

Insurance providers typically consider the following factors when computing your NTL insurance premiums:

  • Cost of Equipment: Brand-new, high-value trucks have pricier replacement parts and steeper repair rates, so insuring them might cost a few extra bucks.
  • Nature of Business: Insurers might charge you more if your truckers typically travel far distances off-duty (i.e., to and from resting locations, terminals, home).
  • Driving History: Truckers with poor driving records and multiple NTL past insurance claims need to pay higher premiums.
  • Added Insurance Policies: Your insurer might give you a better deal if you get your other truck insurance policies from them as well.

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.

Frequently Asked Questions:

How much non-trucking liability (NTL) insurance should I get?

It's recommended to get at least $750,000 worth of NTL insurance, as this is the minimum general liability requirement set by the FMCSA. However, many opt for $1,000,000 in coverage.

What factors affect the cost of NTL insurance premiums?

Factors such as the cost of your equipment, nature of your business, driving history, and added insurance policies can influence the cost of your NTL insurance premiums.

Can additional insurance policies improve my NTL insurance?

Yes, adding policies like physical damage, bobtail insurance, and uninsured/underinsured motorist coverage can further protect your truck during off-duty hours, supplementing your NTL insurance.

If you want help on how much is a non-trucking liability insurance, take a look at our article about it today for help.

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.

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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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