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.
North Carolina is a part of the International Registration Plan – or IRP – which is a registration reciprocity agreement that allocates registration fees based on the total distance traveled within the continental United States and Canada.
A vehicle registered under the International Registration Plan, often known as an apportioned vehicle, receives only one license plate and one cab card.
The N.C. Division of Motor Vehicles' International Registration Manual serves as a reference for obtaining proportional registration in North Carolina and as a basic resource for filing applications for yearly registration.
Visit the website of the International Registration Plan for additional information.
Any carrier that intends to transport passengers or commodities over state lines or into Canada and satisfies any of the following requirements must register with the International Registration Plan as an apportioned vehicle:
Car crashes are a daily occurrence in North Carolina and across the nation. The number of accidents that result in significant damage or death is surprising. The North Carolina Department of Transportation (NCDOT) publishes annual statewide crash data, including the number of crashes, injuries, and fatalities.
Some of the most commonly asked questions about North Carolina commercial trucking insurance are:
For a new semi-truck, you may expect to pay between $70,000 and $150,000. Trucks with all available improvements might cost over $160,000.
Commercial auto insurance is necessary for truck drivers, but what about other types of business insurance? Although not required by law, business interruption insurance, trucking general liability insurance, and motor cargo coverage can assist protect your firm against litigation and damages.
A type of coverage available under the truckers or motor carrier policy form insures the policy holder's legal obligation for damage to the trailers of third parties. Coverage is also provided as an endorsement of the business auto policy (BAP).
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.
