North Carolina, which was once a joint territory with South Carolina, was one of the original 13 colonies and became the 12th state in 1789. Before being readmitted into the Union in 1868, it sent most soldiers to fight in the Civil War as a Confederate state.
Today, the economic backbone of North Carolina looks very different. Due to declining smoking rates, growing competition from other states, and the emergence of a global economy, the three original industries have fallen over the years.
Currently, businesses such as banking, pharmaceuticals, food processing, technology, and vehicle parts dominate North Carolina's economy. Charlotte is now the second-largest banking center in the United States, and Research Triangle Park is home to over 200 businesses.
If you operate a business in North Carolina and utilize a vehicle for business purposes, there are insurance agents that are particularly prepared to provide the most cost-effective insurance solutions with low-cost financing.
Local truck drivers and new businesses are required by North Carolina law to maintain a minimum amount of liability insurance. How much you need depends on the nature and location of the freight you transport. If you never move your vehicle out of state and it has a GVW of over 10,000 pounds, you must obtain an intrastate-only USDOT Number and maintain the following levels of insurance coverage:
|$1,000,000||Liability Insurance (Oil Transport)|
|$5,000,000||Liability Insurance (Hazmat)|
|$300,000||Liability Insurance (Household Goods)|
|$750,000||Liability Insurance (General Freight)|
Truck drivers that travel to various states must comply with stricter insurance regulations. In addition to the aforementioned, you must comply with all FMCSA regulations for semi-truck insurance. The majority of federal liability limits are either $750,000 or $1,000,000.
Your insurance agent must submit specific filings to North Carolina and the USDOT. Your insurance provider is aware of which forms to send and will handle all filing on your behalf. These forms advise the government that you have satisfied all DOT truck insurance requirements. They must be received prior to processing your authorization. Typical examples include:
In North Carolina, the average cost of commercial truck insurance is $11,049.
The typical range of premiums is $8,732 to $11,409.
These rates are based on truckers with a single truck who require cargo, liability, and physical damage insurance. There are a number of factors that affect the cost, including what you are transporting, your driving record, and the length of time you have been operating.
The easiest approach to locating affordable commercial truck insurance in North Carolina is to compare quotes from various providers. Multiple organizations and brokers offer online quotes to make the process more simple for you. Always compare identical coverage types and limit levels to verify you are receiving the best deal.