Top insurance policies for trucking businesses
Commercial auto insurance
If your business's truck is involved in an accident, this policy can help pay for legal defense costs, repairs, and medical bills. Almost every state requires this coverage for business-owned vehicles.
- Injuries caused by your truck
- Property damage caused by your truck
- Vehicle theft and vandalism
General liability insurance
This policy protects against the most common types of lawsuits, including customer injuries and accidental property damage. It's often required for a commercial lease.
- Customer slip-and-fall injuries
- Damage to customer property
- Defamation and copyright lawsuits
Workers' comp insurance
Most states require businesses with employees to carry workers' compensation. Personal health insurance won’t cover work-related injuries, which makes this policy crucial for sole proprietors, too.
- Work-related medical bills
- Disability benefits
- Lawsuits from workplace accidents
Business owner's policy
Often referred to as a BOP, this policy bundles general liability insurance and commercial property insurance at a discount. It protects against common lawsuits and business property damage.
- Accidents that harm customers
- Damage to your office or warehouse
- Business interruption coverage
Cyber insurance
This type of insurance helps trucking companies recover financially after a data breach or cyberattack. It's sometimes called cyber liability insurance or cybersecurity insurance.
- Data breach investigations
- Customer notification costs
- Cyberextortion demands
Commercial trucking insurance costs
From our customer data, here's a quick look at average trucking business insurance rates:
Commercial auto insurance: $816 per month
General liability insurance: $51 per month
Workers' compensation: $650 per month
Factors that can affect your premiums include:
- Type of trucks, such as semi-trucks, box trucks, hot shot trucks, or tow trucks
- Value of your business property
- Number of employees
- Business income
- Types of insurance purchased
- Policy limits and deductibles
- Driving records
How do I get trucking business insurance?
TechInsurance helps you get insured quickly so you can secure contracts, comply with state laws, and protect your business against costly accidents and lawsuits. We work with top-rated truck insurance companies to secure the best possible coverage for your business.
You can get the right insurance in three simple steps:
- Fill out our easy online application with your business details.
- Compare commercial truck insurance quotes from our trusted partners.
- Pay for a policy and download your certificate of insurance (COI).
Our licensed insurance agents know the trucking industry and will help you find the right coverage options at an affordable price. Gain peace of mind with advice from expert agents and policies from the leading carriers in the nation.
Hear from business owners like you who purchased insurance coverage.
Common questions about business insurance for trucking professionals
Is trucking liability insurance required for personal use?
Yes, whether you drive your truck for business or personal use, you'll need auto liability insurance to comply with state laws.
To be fully protected, you'll need two separate types of liability insurance for your truck:
- Commercial auto insurance pays for your legal defense costs if you get into an accident while driving your company truck for work.
- Personal auto insurance provides coverage while you're driving for personal reasons unrelated to your job.
An alternative to commercial auto insurance is hired and non-owned auto insurance (HNOA). This policy provides liability protection when driving a personal, rented, or leased truck for work purposes. This is an affordable option that you can add to your general liability policy as an endorsement, but it doesn't include physical damage coverage for your own vehicle.
What is bobtail coverage and why is it important?
Bobtail coverage insures your truck when you're driving without a trailer. This policy is important because it provides coverage while you're not actively using your truck for work.
For instance, bobtail insurance would pay for legal costs if you get into an accident while driving home after delivering a load, or in between loads. Your commercial auto policy might not provide coverage during this time, as it's technically unrelated to your work.
Many motor carrier companies require their drivers to carry bobtail coverage as part of their contract.
What is primary liability insurance and why do trucking businesses need it?
Primary liability insurance is a type of commercial auto insurance that covers bodily injuries and property damage caused by your truck. Basically, it's the trucking industry's term for auto liability insurance.
Trucking companies and owner operators, especially long-haul drivers, need this type of coverage to comply with state and federal laws.
For instance, the Federal Motor Carrier Safety Administration (FMCSA) requires primary liability coverage for interstate trucking companies. Household goods carriers, such as moving companies, must have cargo insurance as well.
The amount of coverage required depends on factors like the weight of the truck and the type of cargo. Most general freight carriers need to have at least $750,000 in primary liability insurance.
What insurance requirements do truckers need to obtain a DOT number?
USDOT numbers are unique identifiers that the FMCSA uses to monitor safety compliance and accident investigations for commercial vehicles. Many states also require motor carriers to register for a USDOT number.
You likely need a USDOT number if you:
- Drive passengers across state lines
- Haul cargo across state lines
- Transport hazardous materials
As part of the process, you'll need to secure liability insurance for your trucking company. Both state and federal laws can affect how much insurance you need, depending on the type of truck, your trucking operations, your cargo, and where you operate.
What other types of insurance policies do trucking companies need?
For a comprehensive risk management plan, you should consider additional types of coverage. Truck drivers and small trucking companies often invest in the following insurance options:
- Inland marine insurance covers property in transit or stored off-site. It's often necessary since standard property insurance only covers items at a fixed location.
- Trailer interchange coverage provides physical damage coverage for trailers that you don't own in the event of an accident, theft, or vandalism.
- Non-trucking liability (NTL) insurance protects owner operators by insuring their truck when it's used for non-business purposes, like a personal errand.
- Motor truck cargo insurance provides compensation if the goods you transport are stolen, damaged, or destroyed. The FMCSA and contracts may require this coverage.
- A mobile equipment endorsement covers non-auto mobile equipment, such as a tractor or forklift, while it's being driven on a public road.
- Surety bonds, similar to fidelity bonds, reimburse your clients if you fail to comply with regulations or the terms of a contract. However, this amount must be paid back to the insurer.
- Occupational accident insurance (OAI) covers costs when an independent contractor or owner operator is injured on the job. Similar to workers' compensation, it covers medical expenses, disability benefits, and death benefits.
If you're unsure which truck insurance coverages you need, our licensed agents can point you in the right direction or answer any questions you might have.
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