Trucking Insurance Options:

Owner Operator Insurance

Whether you operate under your own authority or under a lease to a motor carrier, as an owner-operator, you need customized Trucking Insurance solutions to protect your business against risks and exposures. If you are working under a motor carrier, they most likely provide Primary Liability Insurance. However, there are other coverages you should also keep in mind, such as Physical Damage, Non-Trucking Liability, and Trailer Interchange coverages.

If you operate under your own authority, your Commercial Trucking Insurance package may include Liability Insurance, including Bodily Injury and Property Damage, Motor Truck General Liability, Motor Truck Cargo, and Physical Damage coverage. The costs of your insurance will depend on your business type, coverage needs, vehicle, location, driving record, and radius of operations.

Motor Carrier Insurance

Trucking is an expensive type of business, and you as a business owner want to make sure it is protected against a variety of risks and exposures. After all, your truck is your livelihood. That’s why we at Team Insurance strive to find the best insurance solutions amongst Motor Carrier and Cargo Insurance providers nationwide to be able to provide you with insurance solutions customized to meet the needs of your business. Choosing the right motor carrier and cargo coverage will be the most important investment for protecting your business and your assets.

While having the right motor carrier coverage is the right insurance choice for you as a business owner, you may also be required by law to have a certain amount of liability coverage as a part of Commercial Auto policy. You should also consider purchasing Commercial Liability coverage as a part of your insurance package. Speak with our experienced insurance agents today to learn more about your legal insurance requirements.

Things to Consider:

Mandatory insurance coverage required for motor carrier trucks includes:

• Bodily Injury – If you are at fault in an accident, this coverage pays for the other person’s covered expenses, such as rehabilitation, medical payments, funeral costs, and others. In the event you are sued, this coverage also pays for your legal expenses.  
• Property Damage – If you damage another person’s property in a covered accident, this coverage pays for expenses needed to repair, replace, or purchase a new property. In the event you are sued, this coverage also pays for your legal expenses.  

Private Carrier Insurance

Private carriers are responsible for hauling goods in their own trucks for their employers or companies. Trucking Insurance solutions for private carriers are suitable for any industry, including construction, manufacturing, excavation, and any other capacity.

Some of the private Trucking Insurance coverages you might look at are Liability Insurance, including Bodily Injury and Property Damage Liability, Medical Payments, and Physical Damage, such as Comprehensive, Collision, and Fire and Theft Insurance. To combine the right solutions into one comprehensive insurance policy, consult our independent agents at Team Insurance who will build a customized policy to match your specific needs.

Semi-Truck Insurance

Semi-trucks are highly useful for transporting goods across the state lines. If you are an owner-operator in a trucking business, you understand that when you are on the road, your semi-truck is exposed to many insurance risks. Accidents involving large semi-trucks are extremely dangerous. That is why choosing a comprehensive Trucking Insurance policy is necessary for you to protect yourself, your vehicle, and other drivers on the road.

In the event your semi-truck is involved in an accident, Semi-Truck Insurance will protect your investment against costly personal injury and property damage lawsuits. You are required by the law to carry a minimum of Bodily Injury and Property Damage Liability Insurance, but it is best to choose a policy with higher liability limits in order to safeguard your business.

Apart from liability coverage, semi-truck owners-operators will benefit from additional coverage options, including Physical Damage to protect your truck in the event of a collision, Medical Payments to cover any medical costs if a passenger is injured in an accident, and Motor Truck Cargo Insurance to pay for the lost or damaged cargo.

For owner-operators under a permanent lease to a motor carrier, the cost of Semi-Truck Insurance ranges between $3,000 and $5,000 per year. For owner-operators with their own authority, the insurance costs can reach $9,000 to $12,000 per truck per year. Depending on your individual needs and the kind of truck you drive, choose additional coverages for your semi-truck. Other additional coverages include Non-Trucking Liability Insurance, Occupational Accident Insurance, Bobtail Insurance, and Non-Owned Trailer Coverage.

Car Hauler Insurance

Car hauler businesses provide services for individual customers, dealerships, auto wholesalers, and other automotive companies. Often hauling expensive vehicles for many miles, such businesses can face many risks when on the road, including damage to the cars in tow, accidents, or theft. Getting more knowledge about the right type of Trucking Insurance for car haulers is the best way to protect your company against risks and exposures on the road.

To keep your cargo and other drivers on the road safe, your business should employ only skilled and experienced professionals. Moreover, because car haulers often have to tow their cargo for long distances, they are at risks for truck-and-trailer related accidents. Accidents involving large vehicles can cause serious damages to people and property, so keep in mind the safety and liability questions and protect yourself with the right type of Trucking Insurance.

Car manufacturers that ship cars from factories to dealerships, towing companies that use flatbed trailers to move cars, and auto repair shops that pick up and deliver cars all need Car Hauler Insurance. When you are purchasing insurance coverage, you are protecting yourself, your vehicles and employees from dramatic losses. Apart from Commercial Auto Insurance which offers Bodily Injury and Property Damage Liability, Comprehensive, Collision, and Medical Payments coverages, consider car hauler-specific additions.

Some coverages to keep in mind include Garagekeeper’s Legal Liability, if you store vehicles you haul, Cargo Insurance to protect the vehicles while transporting, and On Hook coverage, to protect the vehicles while being towed. Especially if you are adding endorsements to your policy, Car Hauler Insurance coverage is rather expensive, mostly because of the added liability of cars you are transporting. Consult a licensed independent agent at Team Insurance for more information on coverages and pricing.