What is Long Haul Truck Insurance?

Tractor-trailers are some of the biggest vehicles driven in the United States, and the accidents they’re involved in are often some of the largest accidents on the road. When a semi is in an accident, there can be extensive property damage, loss of cargo, and injuries. Worst of all, this all can happen even without a truck driver making a mistake, as many accidents are caused by other drivers. Long haul truck insurance offers New Jersey trucking companies and owner/operators of semis a way to protect themselves from the potential cost of an accident or other covered incident.

Long haul truck insurance is designed for companies and owner/operators involved in over-the-road trucking. These policies take into account the many miles that long haul-truckers drive each year, and they often provide high limits in case there’s a major accident.

What Coverages Options Do Long Haul Trucking Insurance Policies Typically Provide?

Long haul truck insurance policies often offer coverages that are found in other commercial truck insurance policies and ones that are more specific to driving tractor-trailers.

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Some coverages that are in many long haul trucking insurance policies and other types of commercial policies include:

  • Physical Damage Coverage, which generally protects the insured truck from certain kinds of damage
  • Medical Payments Coverage, which typically helps cover injuries sustained by a driver or passengers
  • Motor Truck Cargo Coverage, which is usually used to insure cargo transported in a trailer
  • Non-trucking Liability Coverage, which owner/operators sometimes use to insure a truck during off-hours operation
  • Occupational Accident Coverage, which might supplement workers compensation insurance
  • Commercial Uninsured and Underinsured Motorist Coverage, which often covers accidents caused by other drivers who don’t have proper insurance

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Other coverages that trucking companies and long haul-owner/operators might want are:

  • Equipment Coverage, which is often used to insure both equipment like tarps, chains, and drivers’ personal belongings that are kept in a cab
  • Bobtail Coverage, which may provide coverage for a tractor when no trailer is in tow (including when a tractor’s being driven for personal use)
  • Non-owned Trailer Coverage, which might be necessary to cover trailers owned by third parties

How Much Motor Truck Cargo Coverage Do Long Haul Trucking Companies Need?

The federal government requires cross-state carriers of household goods to maintain $5,000 worth of motor truck cargo coverage.

Most tractor-trailers’ loads, however, exceeds this by a lot. Without additional coverage, a long haul company or owner/operator may be at risk of having to pay for lost or damaged cargo themselves. Additionally, they may even have a hard time finding work, because many companies require transporters they work with to have more motor truck cargo coverage.

An independent insurance agent in New Jersey can help determine how much coverage a long haul company may want to carry.

Why Do Long Haul Companies Need Underinsured and Uninsured Motorist Coverage?

It’s widely recommended that both individuals and businesses that have vehicles carry underinsured and uninsured motorist coverage, which can help cover expenses arising from an accident that someone else causes but they don’t have insurance to pay for.

Underinsured and uninsured motorist coverage is especially important for long haul trucking companies and owner/operators because the accidents they’re involved in can be extremely costly. Even individuals who have auto insurance policies with decent coverages and limits might not have enough insurance to fully cover damage a truck sustains or cargo that’s lost in an accident they cause. A wrecked semi truck that loses its cargo could suffer tens or hundreds of thousands of dollars in losses. This coverage can help cover the difference between a driver’s auto insurance limits and the actual costs of a covered accident.

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How Can New Jersey Companies Get Long Haul Trucking Insurance?

Long haul trucking companies and owner/operators in New Jersey that need long haul truck insurance should contact an independent insurance agent. Agents are located throughout New Jersey and can help companies and owner/operators determine what coverages they need and find policies that meet their needs.

Meet Your Industry Specialist

Greg Kroeger

Mr. Kroeger is a Partner at World Insurance Associates LLC, and joins the team from American Truck Insurance Exchange, which he co-founded in 2009. Greg has over 20 years of commercial insurance experience, including six years at HUB International, where he was First Vice President and ten years managing his own agencies.

Prior to HUB, Mr. Kroeger was the co-owner of C.S. Nenner, Inc., an independent agency with $30 million in premiums, specializing in transportation and warehousing coverage for trucking businesses.

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