Let’s face it, a bad accident with a full 18-wheeler on a busy major highway can be catastrophic for everyone involved. From road collisions to breakdowns, truckers face a wide range of challenges, and your company needs commercial trucking insurance to protect your business interests. Whether you’re an owner-operator or you own a fleet of commercial trucks, commercial trucking insurance is essential to protect your transportation business from such catastrophes!
Commercial trucking insurance is similar to commercial auto insurance; however, it’s designed to cover the risks associated with operating heavy commercial vehicles.
Choosing the right truckers insurance can be challenging. Coverage depends, for example, on the type of trucks operated, cargo hauled, and distance traveled (e.g., long-distance service providers should have long-haul trucking insurance).
Learn more about commercial insurance for trucking companies.
Consider Protecting Your:
- Long-haul tractor trailers
- Large fleets requiring scheduled vehicles, mileage-based, or receipts policies
- Local and short-haul trucks
- Hazmat, dump, and tow trucks
- Leased trailers
- Terminal and container yard
- Trailer interchanges
- Fuel Haulers
Protect Yourself From:
- Accidents and physical damage to your trucks
- Bodily injury and property damage to others (often $1M minimum)
- Uninsured and underinsured drivers
- Upset, overturn, fire, theft, vandalism, and other loss
- Damage, destruction, or loss of customers’ cargo
- Loading and unloading accidents
- Injuries or damages not directly related to truck operation
- Occupational accidents not covered by workers’ comp
- Physical damage to a non-owned trailer
- Bodily injury and property damage during personal use of truck
- Property loss or damage during storage, cross-docking, packaging, etc.
- Downtime and inoperable vehicles
- Pollution liability, cleanups, and contamination
- Hazmat non-trucking related claims, wrongful delivery, etc.
- Loan and lease gaps in the event of a total vehicle loss
- Truck and trailer rental costs due to collision
- Damage to vehicles while being towed
- Bodily injury or property damage during garage business operations
Your exact trucking insurance coverage will be dependent on your needs, which is why you need expert help in choosing trucking or semi-truck insurance. At World Insurance Associates, our team has more than 50 years of experience in transportation insurance, and a few of us were once truckers! From new ventures to established companies, we work with all fleet types and specialize in hard-to-place businesses – there’s no fleet we can’t find commercial truck insurance for.
We offer multiple A-rated carriers, 50-state availability, flexible guidelines, rate and policy term marketing, dedicated certificate ID support, in-house claims department with 24-hour hotline, and bilingual Spanish capability. We can also make your life easier with the latest technology for on-demand certificate printing, online claims reporting, electronic UIIA and FMCSA filings, and online policy summaries. Let our team of experts provide you with a commercial truck insurance quote for a tailored plan that will protect your drivers, trucks, and business.
What is long haul truck insurance and how much does long haul trucking insurance cost?
Tractor-trailer trucks are among the largest vehicles driven on the United States’ public roads, and accidents they’re involved in are sometimes extremely serious and costly. When an 18-wheeler is involved in a collision, the property damage and injuries that result from the accident can be severe.
Long haul trucking insurance protects trucking companies from many of the potential costs that an accident can cause. Long haul truck insurance is a unique form of commercial truck insurance that’s specifically designed for people and companies that provide long-distance trucking services. Policies generally account for the thousands of miles long-haul truck drivers cover annually, and they frequently offer high limits.
And if you are wondering what coverages does long haul trucking insurance provide, most long haul trucking policies offer a combination of common protections that are included in many commercial coverages and more specific coverages that are directly related to driving 18-wheelers.
As for how much does long haul trucking insurance cost, a few factors that insurers often take into account are: How old a company’s trucks are, how many trucks a company owns, how many miles drivers travel annually, the driving record of all drivers, what type of cargo a company transports, whether a company owns the trailers it uses, and what coverages and limits a company selects.
What is tow truck insurance and how much is tow truck insurance?
Tow truck operators frequently work in less-than-ideal circumstances. They rescue cars from the shoulders of busy roads, respond to calls in all kinds of weather, and remove illegally parked vehicles from all types of neighborhoods. Working in these situations increases tow truck drivers’ risk of themselves being in an accident and having to file an insurance claim.
Commercial towing insurance helps protect tow truck operators from many of the risks they face. Uniquely designed for towing companies, this type of truckers insurance offers coverages that are specifically chosen with the insurance needs of tow truck operators in mind.
As is the case with most forms of truckers insurance, tow truck policies’ coverages can vary and thus, so does the cost. In general, however, most towing insurance policies offer the following coverages as either standard or optional protections: tow truck liability coverage, physical damage coverage, comprehensive coverage, medical payments insurance, on-hook towing coverage, uninsured and underinsured motorist coverage, and garage service coverage.
Does my truck insurance cover my trailer?
Yes, commercial truck insurance covers your truck and trailer from physical damage, upset, overturn, fire, theft, vandalism, and many other perils. Plus, there are numerous coverages that protect things like bodily injury, loading and unloading, damages not related to truck operation, injury and damage from personal use of your truck, and many more important considerations.
Are there special considerations for dump truck insurance?
Yes, dump trucks are classified as heavy-duty commercial vehicles and their massive size and design introduce unique challenges for insuring them. Dump trucks are usually involved in back-up accidents and overturns, and the cargo they haul has little value. Therefore, dump truck insurance focuses on adequate liability limits and physical damage coverage, with cargo coverage rarely required.
What is commercial transportation insurance?
Whether they’re delivering packages across town or cargo across the country, commercial trucking companies are exposed to a number of risks. Truck accidents occur every day, and they can cost a company tens of thousands of dollars (or more).
Commercial trucking insurance helps trucking companies protect themselves from many of the potential perils that they face. Commercial trucking insurance is similar to commercial auto insurance, but it provides coverage for trucks rather than cars. It may be used to insure everything from box trucks to 18-wheelers.
What coverages does commercial truck insurance offer?
Commercial truck insurance policies must at least meet the minimum state insurance requirements, but many companies choose to purchase more insurance coverage than their state requires.
In general, commercial trucking policies contain five main coverages: Liability Coverage, for damages and injuries that a company’s driver is responsible for; Physical Damage Coverage, for damage to a company's truck; Underinsured and Uninsured Motorists Coverage, for accidents with people who don’t have adequate insurance; Truck Cargo Coverage, for the cargo transported in a truck; and Unidentified Trailer Coverage, for trailers that a company doesn’t own or lease long-term (also known as Trailer Interchange Coverage).
Truck cargo coverage may cover both theft and damage of cargo while it’s in a truck. This is a coverage that’s usually unique to commercial trucking insurance policies.
Is commercial trucking insurance required by law?
Yes, most states require commercial trucking insurance for vehicles engaged in commercial transportation. The specific requirements can vary by state or country, but liability insurance is typically mandatory to cover potential damages in accidents.
The minimum state insurance requirements for commercial trucking insurance typically include injury liability. Many businesses choose to purchase additional trucker’s insurance to cover other instances that can occur, such as vandalism or damage during towing.
How are commercial trucking insurance premiums calculated?
Trucking insurance companies may all offer different premiums for coverage. That’s because the cost of commercial trucking insurance can vary depending on a number of factors. These include the type of vehicle, its value, the driver's experience and history, the cargo being transported, the typical distance traveled, and the coverage options selected.
A semi-truck insurance company can help you understand what your potential premiums may be.
Are there discounts available for commercial trucking insurance?
Yes! To be specific, prioritizing driver safety can help companies save money on their commercial trucking insurance.
Many insurance providers offer discounts for factors such as safety measures, driver training programs, multi-truck policies, and a history of safe driving. It's essential to ask your insurer about available discounts.
Can I adjust my coverage as my business grows or changes?
Of course! As your commercial fleet or business grows and changes, so can your trucker’s insurance. It’s only natural for businesses to add or remove vehicles, change cargo types, or expand their operation over time.
The right trucking insurance company can help you understand your immediate coverage needs and make changes when necessary.
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