Trucking Insurance Coverages We Provide:
We are an insurance agency specializing in commercial truck insurance and transportation insurance coverage. We offer protection for you and your commercial trucking and transportation needs.
We are an independent agency with the customer in mind. We have relationships with insurance companies, allowing you to get the right price with the right coverage. We can provide many of the coverages necessary to keep your business operating. In addition to the primary liability coverage required by law, you can choose from the following truckers insurance policy options when building your policy:
What Coverage Is Included in a Truckers Insurance Policy?
All commercial trucks must be covered with liability insurance. Liability insurance covers injuries and property damage caused to others in an accident that you or your drivers cause. Liability minimums are mandated by law in each state, but truckers who frequently cross state lines will need to meet federally mandated minimums as well.
The liability minimum requirement is usually $1 million, trucks carrying explosives require a minimum of $5 million in liability coverage…
Here are the coverages, you can choose from:
Primary Auto Liability (usually required)
Covers bodily injury to others and damage to the property of resulting from automobile accidents caused by the insured. Provides bodily injury and property damage protection to other people/not to insured or insured’s employees.
Motor Trucking General Liability
Covers business organizations for their liability for bodily injury and property damage arising from accident on premises, which pays for damages caused by insured when they are NOT driving. Provides bodily injury and property damage protection to other people/not insured or insureds employees.
Hired auto liability coverage will pay for damages to a third party, on behalf of insured’s company, if insured causes an accident or an injury to someone while they are driving a leased, hired, rented, or borrowed vehicle for business. Non-Owned Auto coverage protects insured company in the event that insured company is sued as a result of an auto accident that insured, or one of insured employees, has in a personal vehicle while on company business.
Physical damage insurance
This insurance is usually required by the lenders when you finance the purchase of your rig. It provides coverage if your truck is damaged in a collision, regardless of fault. Comprehensive insurance will also include coverage for damage and loss caused by natural disasters, fire, theft and vandalism.
Medical payments insurance
This insurance provides coverage for any medical costs that you or other drivers/passengers may incur from an accident in your rig. Insurance companies will often require you to provide them with a list of all drivers who will be operating the vehicle and may base rates on the driving records of those listed.
Equipment coverage(Permanently Attached Equipment)
This insurance can be purchased as an addition to your physical damage policy. It provides coverage for loss or damage to driver-owned property kept in the truck, as well as equipment such as chains, tarps and added electronic and navigational devices. Some policies will even provide compensation for losses caused by fuel spills.
Motor truck cargo insurance
This insurance covers the cargo you are hauling if it is lost or damaged while you are transporting it. The federal government requires you to have a minimum of $5,000 in coverage for your cargo, but you will likely be required by the shipper to carry more insurance, could be 100,000 and more
Bobtail OR Non – trucking liability insurance (NTL)
This insurance provides coverage for your commercial tractor when there is no trailer is in tow. This coverage is effective whether the vehicle is being driven for commercial or personal use. Though similar, bobtail insurance is different from non-trucking liability insurance. This type of trucker insurance is designed specifically for independent owner-operators. (When you are leasing out your services to another company, they generally provide your liability coverage; however this coverage is only valid when your truck is being driven for business purposes). Non trucking liability insurance – covers you while you are not working on the job, such as while you are driving to and from the job site or if you use your vehicle for personal reasons.
Occupational accident insurance
This coverage acts as a supplement to workers compensation. It provides your drivers and their families with added protection if a driver is hurt while on the job. It provides benefits for accidental death and dismemberment, medical expenses for accident-related injuries, and both temporary and long-term disability coverage. You also have the option to purchase additional coverage that will include compensation for non-work related accidents.
Trailer Interchange or Non-owned trailer coverage
This insurance provides compensation for damages to a third-party-owned trailer that you have hitched to your rig. This coverage is for the structure of the trailer only and does not include the contents. Additionally, it will only cover damages that are incurred while the trailer is hitched to your truck. Under a written “trailer” or “equipment” interchange agreement in which insured assumes liability for loss to the trailer while in their possession.
Example: An insured is hauling a container/trailer for CSX intermodal under a written Trailer Interchange Agreement and has an accident, which causes damage to the container/trailer. Coverage is provided for damage to the container/trailer.
Excess Liability (Umbrella)
Excess Liability insurance is designed to provide an extra layer of coverage above the primary Liability layer. The excess insurance does not respond, however, until the limits of liability in the primary layer have been exhausted. Because of the method of response, it is often much less costly than the primary layer, per $1,000,000 of coverage. The excess layer provides not only higher limits, but catastrophic protection for very large losses. Scheduled, gross receipts, or mileage based policies.
Provides benefits to employees for any injury or contracted disease arising out of and in the course of employment. All states have laws which require such protection for workers and prescribe the length and amount of such benefits provided.
Trucking insurance TIPS!
Knowing what coverages to buy and how much to pay can be difficult if you don’t know what to look for or what questions to ask.
Some of the coverages you buy are required by USDOT regulations. You must, for example, carry liability insurance to pay for damage you cause to another’s property or for medical care given a person for an injury you caused. Other types of coverage required by state authorities, or by shippers, include physical damage to the cargo and workers’ compensation. If you are an owner-operator, you normally do not need workers’ compensation because you have no employees, but you may need accident and health insurance as well as disability coverage on yourself as a self-employed professional.
You will also need uninsured-motorist (UIM) coverage and personal-injury protection (PIP), as well as bobtail insurance to cover accidents that occur during “non-trucking use” when your truck is not hauling a revenue load. Unless you own a terminal, you will not need terminal insurance, but if you maintain your own vehicle you’ll want to insure the garage where you do the work.
If you’re an owner-operator
The coverages you need will depend on whether you run under your own authority or under someone else’s authority on a permanent or trip lease. If you’re operating under your own authority, you’ll need:
Primary Liability Coverage (this includes UIM and PIP)
Physical Damage Coverage, which also covers your electronic equipment, tarps, chains, etc.
Cargo Coverage, which insures the contents of the trailer, temperature-control machinery, and other appliances or accessories that keep cargo secure. Coverage should be tailored to the type of commodities hauled and the requirements of the shipper. “All-risk” cargo coverage normally is not available.
Plus any other Optional coverages you chose to have.
If you operate under another’s authority
Don’t accept an assignment until you have read the lease carefully to determine who is responsible to provide insurance coverage. If you don’t have a copy of the lease, demand it. In most cases, the motor carrier to whom you are leased will carry primary liability coverage. However, few leases carry physical damage coverage for the owner-operator. You will need this coverage because you may be liable for damage to trailers you pull but do not own.
While examining the lease, keep in mind a common insurance scam that bilks owner-operators out of thousands of their hard-earned dollars. Some motor carriers purchase a truck policy for one or two units, obtain an MCS-90 endorsement, then hire out more drivers on the same policy. Technically, these drivers are uninsured. In the event of an accident, claims may be paid by the insurance company nevertheless because of the MCS-90 endorsement. However, the insurer can then recover claims costs from the owner-operator if the motor carrier “disappears,” as often happens. There should never be any doubt as to whether the owner-operator is completely covered, but this question can only be answered by you. Insist on verifying the coverage terms in the motor carrier’s policy before you accept the load.
What is a USDOT Number?
Companies that operate commercial vehicles transporting passengers or hauling cargo in interstate commerce must be registered with the FMCSA and must have a USDOT Number. Also, commercial intrastate hazardous materials carriers who haul quantities requiring a safety permit must register for a USDOT Number.
The USDOT Number serves as a unique identifier when collecting and monitoring a company’s safety information acquired during audits, compliance reviews, crash investigations, and inspections.
Do I Need One?
You are required to obtain a USDOT number if you have a vehicle that:
Has a gross vehicle weight rating or gross combination weight rating, or gross vehicle weight or gross combination weight, of 4,536 kg (10,001 pounds) or more, whichever is greater; or
Is designed or used to transport more than 8 passengers (including the driver) for compensation; or
Is designed or used to transport more than 15 passengers, including the driver, and is not used to transport passengers for compensation; or
Is used in transporting material found by the Secretary of Transportation to be hazardous and transported in a quantity requiring placarding.
AND is involved in Interstate commerce:
Trade, traffic, or transportation in the United States—
Between a place in a State and a place outside of such State (including a place outside of the United States);
Between two places in a State through another State or a place outside of the United States; or
Between two places in a State as part of trade, traffic, or transportation originating or terminating outside the State or the United States.
You are required by FMCSA to obtain USDOT Number and comply with the Federal Regulations.
Get Authority to Operate (MC Number)
In general, companies that do the following are required to have interstate Operating Authority (MC number) in addition to a DOT number:
Operate as for-hire carriers (for a fee or other compensation)
Transport passengers in interstate commerce
Transport federally-regulated commodities or arranging for their transport, in interstate commerce
Who Does Not Need Authority?
All of this also dictates the level of insurance/financial responsibilities a company must maintain. Carriers not required to have operating authority include:
Private carriers (carriers that transport their own cargo)
“For-hire” carriers that exclusively haul exempt commodities (cargo that is not federally regulated)
Carriers that operate exclusively within a federally designated “commercial zone” that is exempt from interstate authority rules. A commercial zone is, for example, a geographic territory that includes multiple states bordering on a major metropolitan city, such as Virginia/Maryland/Washington, DC
Here you can find the most frequently asked questions regarding injured workers and Workers Compensation.
What is workers compensation?
If you get hurt on the job, your employer is required by law to pay for workers compensation benefits. You could get hurt by:
A single event at work (i.e., hurting your back in a fall, getting burned by a chemical that splashes on your skin, getting hurt in a car accident while making deliveries)
Repeated exposures at work (i.e., hurting your wrist from doing the same motion over and over, losing your hearing because of constant loud noise)
What are the benefits?
Workers compensation benefits vary from state to state and depend on the nature of the injury. Some of the benefits may include:
Medical Care – Paid for by your employer, to help you recover from an injury or illness caused by work.
Temporary Disability Benefits – Payments if you lose wages because your injury prevents you from doing your usual job while recovering.
Permanent Disability Benefits – Payments if you don’t recover completely.
Supplemental Job Displacement Benefits – Vouchers to help pay for retraining or skill enhancement if you don’t recover completely and don’t return to work for your employer.
Death Benefits – Payments to your spouse, children or other dependents if you die from a job injury or illness.
What should I do if I have a job injury?
Report the injury to your employer. Tell your supervisor right away. If your injury or illness developed gradually (like tendinitis or hearing loss), report it as soon as you learn or believe it was caused by your job.
Get emergency treatment if needed. If it’s a medical emergency, go to an emergency room right away. Your employer may tell you where to go for treatment. Tell the health care provider who treats you that your injury or illness is job-related.
Get good medical care. Get good medical care to help you recover. You should be treated by a doctor who understands your particular type of injury or illness. Tell the doctor about your symptoms and the events at work that you believe caused them. Also, describe your job and your work environment.
I’m afraid I might be fired because of my injury. Can my employer fire me?
It’s illegal for your employer to punish or fire you for having a job injury, or to punish or fire you for filing a workers compensation claim when you believe your injury was caused by your job. If you feel your job is threatened, find someone who can help. Note that there are deadlines for taking action to protect your rights.
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About a Builder’s Risk Insurance
Builder’s Risk Insurance, people also refer to it as Course of Construction, is some kind of property insurance. It’s a form of insurance, which covers a building where the building is presently being constructed. It can cover just the structure, or also the materials on site waiting to be installed or transported to the job site.
The builder’s risk insurance policy will pay for damages up to the coverage limit. The limit must accurately reflect the total completed value of the structure (all materials and labor costs, but not including land value). The construction budget is the best source for determining the appropriate limit of insurance.