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    Commercial Truck Insurance
    Texas Commercial Trucking Insurance

    Texas Commercial Trucking Insurance

    In Texas, there are 172,000 truck drivers employed. In addition, 15% of all occupations in Texas are held by truck drivers. According to the Texas Department of Transportation, Texas has the highest number of fatal truck accidents in the United States. Texas roadways were the scene of more than 13% of all fatal trucking accidents in the United States while having less than 8% of the country's population.

    In Texas, trucking companies operating in Dallas, San Antonio, Houston, Austin, or El Paso must have commercial truck insurance. Commercial trucking insurance will help you cover the costs related to collision-related damage to your truck and other vehicles and litigation involving injuries and deaths. In Texas, commercial truck insurance is expensive but mandatory for commercial trucks and drivers.

    Requirements For Commercial Trucking Insurance In Texas

    Local Truckers

    Local truckers and new businesses are required by Texas law to maintain a certain amount of liability insurance. How much you require depends on the type of freight you pull and the distance you travel. If you do not cross state lines and your truck exceeds the GVW, you must obtain a TXDMV Number and maintain the following minimum liability insurance coverage:

    $300,000Liability Insurance (Household Goods)
    $500,000Liability Insurance (General Freight)
    $1,000,000Liability Insurance (Oil Transport)
    $5,000,000Liability Insurance (Hazmat)
    $5,000 per vehicle $10,000 per catastropheCargo Insurance (Intrastate Household Goods Movers And Interstate Contract Carriers)

    Insurance requirements for truck drivers leaving the state are specified in greater detail. In addition to the aforementioned, you must comply with all federal semi-truck insurance requirements. Most federal liability limits can be $750,000 or $1,000,000.

    Your insurance agent must submit specific filings to both Texas and the FMCSA. Additionally, your agent or company should handle these files on your behalf. These forms demonstrate to the government that you have met all DOT truck insurance requirements. They must be submitted prior to receiving authorization. Some common forms include:

    • Form E
    • Form H
    • Form MCS-98
    • The BMC-99

    What Commercial Trucking Insurance Covers In Texas

    Your coverage requirements will vary based on your cargo, normal route, and other factors. These are some of the different types of Texas commercial truck insurance cover:

    Commercial Auto LiabilityTypically covers injuries to other people and property damage if you cause an accident. It may also cover the cost of your legal defense in the event of a lawsuit.
    Physical DamageA general term for a range of insurance policies that protect your truck or other commercial vehicles. This includes collision insurance and your pick of full comprehensive insurance or fire and theft insurance with combined additional coverage (CAC).
    Medical Payments CoverageOften known as MedPay coverage, this can cover your and your passengers' medical bills in the event of an accident regardless of who was at fault.
    Uninsured Motorist InsuranceOften comprises 3 separate coverages that are grouped together. You are often protected if you are involved in an accident with an uninsured or underinsured driver.
    Trailer Interchange InsuranceThis type of physical damage insurance is essential for trailers being towed under a trailer interchange agreement. This insurance protects you financially if your trailer is damaged by an accident, theft, fire, explosion, or vandalism.
    Non-trucking Liability InsuranceCan provide truck insurance coverage with an unlimited radius when you are under a permanent lease with a motor carrier and are not driving under dispatch.
    Motor Truck Cargo InsuranceRequired by for-hire truckers to cover liability for cargo that is lost or damaged due to collision, fire, or striking of a load.
    Motor Truck General LiabilityFor-hire truckers and motor carriers must have this type of insurance for bodily injury or property damage stemming from business activities unrelated to their main operations.
    Garage Keeper’s Legal Liability InsurancePays to repair or replace a car you are towing or hauling if it is damaged by a fire, theft, collision, explosion, or vandalism.
    Storage Location InsuranceProtection for owners of towing and service station businesses. It safeguards a customer's vehicle while it is parked, stored, or serviced in a covered place.
    Workers’ Compensation InsuranceAlso known as workers' comp, a type of insurance that many companies are required to have. It can pay medical expenses and a percentage of missed wages for injured employees. Additionally, it protects businesses from litigation connected to working conditions.

    Types Of Trucks Covered By Commercial Truck Insurance In Texas

    Types Of Trucks Covered By Commercial Truck Insurance

    Every type of truck is insurable. Different insurers provide coverage for various vehicle types, so you may need to browse around to obtain coverage for yours.

    The following are examples of common truck types covered by the majority of insurers:

    • Box trucks
    • Cement mixers
    • Dump trucks
    • Tow trucks
    • Semis
    • Tractor trailers

    Cost Of Commercial Trucking Insurance In Texas

    In Texas, the average cost of truck insurance is $13,606.

    The average premium ranges between $11,540 and $15,546.

    These rates are based on truckers with a single truck who require liability, cargo, and physical damage insurance. There are several factors that affect the cost, including what you are transporting, your driving record, and the length of time you have been in operation.

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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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