You can never expect an accident to happen once on the road, more so if you drive more than 4-wheelers and trucks. Commercial trucking insurance ensures the protection of the car and its driver with commercial trucking coverage from medical and security fees in a road accident.
Contrary to popular belief that commercial trucking insurance is only best for trucking companies since it is a high-profit high-risk business, it is not an exclusive deal. Whether you have a four, six, or eight-wheeler, investing in a trucking insurance package is the best choice for your safety. Investing in this insurance is essential for both cargo businesses and home truck owners because of their higher vulnerability to accidents than smaller 4-wheelers.
You can have different truck insurance coverage options from insurance companies. These coverages differ on a truck's type of freight, business size, and type of truck. To help you find what is best for you, you can check out the eight insurance policies we have covered.
Mandated under US law; all truck owners must have a Primary Auto Liability Insurance that protects the driver and company when an accident happens and affects a third party. If it is the driver's fault, this liability insurance will cover the damages and expenses to the affected person or property.
This commercial trucking insurance covers the driver and company from any claims when a physical injury or damage to property happens because of an accident. You will not have to provide for the damages financially as the insurance company will handle it.
If a driver uses a company truck for personal or non-work purposes, Bobtail insurance will cover you. Suppose you want insurance that costs less than General Liability Insurance. In that case, a non-trucking liability is for you as you can pay the insurance company $30 to $50 a month.
When trucks didn’t get into an accident, but their composition is damaged because of events outside of their control, this commercial trucking coverage will pay for any damages to the truck caused by vandalism, natural disasters, theft, and collision.
The everyday use of commercial trucks is transporting cargo from one place to another. If an item in your vehicle is lost or damaged, this insurance has you covered. However, if you want to invest in premium insurance, the insurance company will have to take the truck's dimensions.
When your primary truck is temporarily unavailable because it is being repaired, the money you will spend to get a replacement will be covered by the insurance company.
Truck trailer owners who have trailer interchange insurance will not have to worry about paying for the physical damages such as collisions, theft, and vandalism to their non-owned vehicles.
The insurance company will cover any physical injuries while driving (or riding if you are a passenger). However, states have different policies about the coverage of medical bills.
Despite the wide range of available commercial trucking insurance, your choice of truck insurance coverage should still follow your state's policy. The FMCSA mandates a minimum coverage for trucking insurance. Although it may be expensive, especially for small-scale truck companies, settling for the cheapest insurance and overlooking guidelines may lead you to get sanctions.
| Type of Freight | Minimum Liability Coverage |
| Semi-trailer freight truck | $750,000 to $5,000,000 |
| Tow truck | $750,000 to $1,000,000 |
| Box truck | $750,000 |
| Pickup truck | $300,000 |
| Non-hazardous freight <10,001 lbs. | $300,000 |
| Non-hazardous freight >10,001 lbs. | $750,000 |
| Oil talks by private/for-hire carriers | $1,000,000 |
To start your commercial trucking insurance hunt, you must prepare the requirements you will provide in your application. You may see below the basic conditions most insurance companies will look for once you apply:
Choosing the best trucking insurance package, and commercial trucking coverage may be confusing, especially for those new to the truck industry. In this section, you can find the answers to the frequently asked questions about commercial trucking insurance:
Having a driver who has a clean driving record — meaning no history of accidents, reports, and violations before entering your company — will lessen the likelihood of road accidents.
The best trucking insurance companies as of 2022 are Progressive in terms of the overall package, State Farm for customer service, and Cover Wallet for your money's worth.
Cargo insurance covers the financial responsibility of the driver during transport. In case of calamities, accidents, loss of goods, and legal expenses happen during the freight, the motor truck cargo insurance will have you covered.
Getting your money's worth in a reliable, responsive, well-reviewed truck insurance company may be overwhelming, but it is essential for everyone's safety. Assured Standard gives free insurance quotes for commercial trucks. It saves you the hassle of going to another company and getting asked to pay a relatively expensive amount for a quote beyond your budget.
Arthur Williamson graduated with a degree in Business and Management at the University of California, Berkeley. He is knowledgeable about what small and big businesses require to keep operations moving.
