Transportation Insurance

The purpose of transportation insurance is to protect your business from financial losses due to risks associated with the transportation industry, such as vehicle accidents, property damage, and employee injury. Transportation coverage is regulated by state and federal requirements. This type of insurance includes coverage for liability, workers’ compensation, equipment, and physical damage. It provides essential protection for trucking companies, passenger transportation services, and other businesses in the industry against unanticipated events.

Transportation insurance is essential for any business involved in the transportation of goods or people to protect against risks and liabilities. Some businesses that benefit from transportation insurance include trucking companies, freight carriers, delivery services, bus and limo operators, rideshare drivers, and logistics providers. Additionally, businesses that own or operate commercial vehicles, such as construction companies, moving services, and non-emergency medical transportation should also have coverage. Whether operating a single vehicle or a large fleet, transportation insurance is essential to ensure compliance with state and federal regulations while safeguarding your business from accidents, property damage, cargo loss, and liability claims.

Transportation coverage regulations vary depending on business type and state-specific laws, though some federal regulations apply universally. The Federal Motor Carrier Safety Administration (FMCSA) sets minimum levels of insurance requirements for commercial transportation, considering factors such as passenger capacity, vehicle weight, and cargo type. To operate legally, trucking companies must obtain FMCSA permits, which require proof of liability and cargo insurance. Some states impose further insurance requirements for certain types of cargo being transported, such as hazardous materials.

At World, we understand that each business has unique needs, which is why we tailor coverage specifically for you. The cost of transportation insurance depends on many factors, including your fleet size and type of vehicles, driving records, claims history, driver training programs, driver retention, and vehicle maintenance. Our team of experienced transportation insurance advisors will work closely with you to develop a cost-effective plan tailored to your specific needs.