What Do You Know About Motor Carrier Insurance Companies?

In this article, we will tell you about motor carrier insurance companies, if you want to buy the motor insurance.

1. Large cargo vehicles Frequently Have Accidents

Trucking has one of the highest national income increases, but it also has a high rate of roadside fatalities. If your company doesn’t have enough insurance to cover financial losses from things like traffic deaths, damaged cargo, and theft, it may be on the verge of going out of business too soon.

The (IIHS) estimates that 11% of motor vehicle accident fatalities in the United States are caused by heavy trucks colliding with other vehicles and pedestrians on highways, roads, and streets.

Additional typical dangers for commercial trucks include:

  • truck driver drowsiness
  • flow of traffic
  • Theft, vandalism, and damage to cargo
  • Natural events (windstorms, rain, hailstorm, etc.)
  • Insurance providers are aware of how crucial the trucking sector is to the economy. Therefore, commercial truck insurance is specifically designed to fulfill the drivers’ and owners’ needs for safety.

2. Motor Carrier Insurance Companies Must Have Commercial Truck Insurance

The (FMCSA) won’t let your commercial fleet run if you don’t have enough insurance. To each commercial vehicle registered with the FMCSA, a unique Department of Transportation (DOT) number is given. However, they won’t give you your DOT number if you don’t have proof of insurance, which prevents you from engaging in any commercial operations.

3. The trucking industry is significant.

The American Trucking Association says that commercial vehicles move about 72% of all freight in the United States every year. Furthermore, according to Statista, the number of trucks that are registered in the nation has climbed by about 81% during the past ten years. Freight transportation is so important to the economy that it is your job as the owner of a trucking company to keep your fleet, cargo, and drivers safe.

According to Keep Truckin, a provider of fleet management software, launching a new truck business with only one truck may cost up to $175,000. You’re looking at a hundred thousand-dollar investment once you factor in the price of hiring drivers, maintenance fees, expanding your fleet with more trucks, and other costs. If a legal dispute doesn’t completely destroy your business, it can put a stop to your hopes of becoming America’s largest fleet owner-operator.

Your goal of operating a fleet can remain alive with commercial truck insurance.

Contact The Top Insurance Agents in Your Area
To assist you with your insurance needs, get in touch with a nearby agent online.

While you’re driving to work, commercial vehicle insurance can safeguard your company vehicle, but it won’t protect it from risks like cargo loss or reefer problems.

A typical truck travels farther than a typical commercial vehicle and can carry tonnes of freight. So, compared to commercial auto insurance, a truck insurance policy requires additional protection. A typical commercial auto insurance policy also excludes crucial protection like bobtail insurance.

Additionally, before doing business with you, your customers and shippers will probably need confirmation of insurance. Cargo moving is expensive, and without adequate fleet insurance, customers won’t trust your business.

What Is Covered by Motor Carrier Insurance Companies?

These particular safety requirements of the trucking industry are covered by commercial truck insurance:

Insurance for General Liability in Commercial Truck Businesses
For claims resulting from regular business operations, such as property damage, medical expenses, or injuries, general liability insurance offers coverage . Regardless of who is at fault, liability insurance will also cover your legal defence expenses.

Insurance for Workers’ Compensation

State laws almost universally require workers’ compensation insurance. It compensates your employees for missed wages, medical expenditures, rehabilitation charges, and other costs. Because each driver travels a sizable volume of cargo, the company is best served by ensuring their safety.

A Commercial Truck’s Commercial Umbrella Insurance

When your present insurance policy is insufficient to cover damages, commercial umbrella insurance reimburses you. Imagine that an office building is hit by your truck. Your commercial liability insurance is not enough to pay the price of the claim made against you for property damage, even though your workers’ compensation policy covers your driver’s injuries. The remaining expenses may be partially covered by umbrella insurance.

Contact The Top Insurance Agents in Your Area
To assist you with your insurance needs, get in touch with a nearby agent online.

Standard Endorsements for Find an Agent
Vehicle Cargo Insurance
The shipment that your truck is hauling is safeguarded by motor truck cargo insurance. Therefore, you will receive full compensation for the vehicle and its contents if your cargo is damaged due to an accident or a fire.

Physical Injury

Collision: Covers accident-related damages.
Complete: Covers all responsibilities aside from collision.

Uninsured and underinsured drivers

If you experience a collision with an uninsured driver, your repair costs and medical expenses are covered by uninsured/underinsured motorist coverage. It’s possible that an uninsured driver will strike one of your trucks and not have adequate insurance to pay your expenses. Underinsured motorist protection might assist you in paying the remaining costs in this situation.

Insurance for a Commercial Truck’s Hazmat Coverage

Hazardous materials are sometimes transported commercially by trucking companies. Consider an accident involving a vehicle carrying hazardous materials. When it comes to paying for property damage and physical harm, standard auto insurance will take over. But it won’t cover the harm caused by the dangerous materials. Hazardous material shipping firms benefit from having hazmat insurance.

Insurance for hauling livestock

Livestock transport can occasionally be a part of truck driving professions. The risks that could affect the cattle while being transported are covered by this livestock endorsement. Livestock hauling insurance can protect you if you’re travelling with a flock of sheep and some of them escape or perish from heat exhaustion.

Policy Regarding Trailer Exchanges for Motor Carrier Insurance Companies

There might be many times when you need to tow the trailer of another truck. In such circumstances, your ordinary insurance won’t cover the contents of the other truck. If the trailer is destroyed while it is in your possession, a trailer interchange coverage will assist you in protecting it.

The policy of Limited Depreciation

In the event that your vehicle is deemed a total loss following a collision, a limited depreciation coverage can assist in covering the expense of replacing it.

Commercial Truck Non-Trucking Insurance Coverage

During normal business hours, your standard commercial vehicle insurance will protect you, but what about after hours? Thankfully, drivers who use their vehicles for non-work purposes can be protected by a non-trucking insurance policy. In this manner, trucks and drivers are covered around-the-clock.

Reimbursement for rent

Imagine your truck is completely destroyed in a collision. Your client’s shipment hasn’t been delivered, leaving you with it. In such circumstances, vehicle rental expenses may be covered by a rental reimbursement policy. Additionally, it can shield your logistics from difficulties.

Truck Cab Insurance for Commercial Truck Companies Sometimes, trucks are operated without trailers. Tractors and trucks without trailers on the road are covered by bobtail insurance policies.

Insurance for owner-operators

Commercial vehicle owners and drivers require specialised insurance protection. The type of truck insurance a driver should have depends on whether they are operating a leased or privately owned vehicle.

An owner-operator who leases a truck from a trucking company has the truck insurance of the firm applied to the vehicle. When the driver is at fault, this insurance will pay for third-party obligations as well as damage to the truck or property. The operator would be responsible for covering any further casualties through their own insurance or out of pocket if they happened.

The FMCSA mandates that owner-operators of commercial trucks carry vehicle liability insurance with a $750,000 maximum limit. Along with the minimum needs, think about purchasing general liability and physical damage coverage.

Contact The Top Insurance Agents in Your Area
To assist you with your insurance needs, get in touch with a nearby agent online. Locate an agent

What Does Motor Carrier Insurance Companies  Not Cover?

As the name implies, commercial truck insurance is for commercial trucks. It’s not intended to safeguard any of the owner’s or operator’s private property. The following is a list of typical commercial vehicle insurance exclusions:

Unintentional Injury

Truck insurance will not pay for any intentional property damage or bodily harm to oneself or others. As an illustration, let’s say that you are moving cargo for your clients from California to Ohio. When you get there, your client puts off making the payment. You damage their cargo out of rage. You will not be granted a claim if you make one.


It is a recipe for disaster to run a race on the highway. Your insurance company won’t agree to cover the damages if you happen to hit with a moving car.

Some Natural Disasters

Your ordinary commercial truck insurance will not cover any damage to your fleet or the cargo unless you have specific coverage against floods and earthquakes.

What Does Truck Insurance Cost?

Your truck’s price is influenced by a variety of things. Every trucking company has different needs for risk protection. However, according to Progressive, the average yearly cost of truck insurance in 2020 will be $982. Also to be considered are the type of vehicle, cargo, operating environment, driver’s driving history, USDOT authority, deductibles, and coverage limits.

Leading Commercial Truck Insurance Providers

Commercial insurance is pricey, however some insurers provide affordable solutions for coverage. Let’s examine the top 10 providers of commercial vehicle insurance.


Both the Better Business Bureau and AM Best have given Progressive an A+ for financial strength. According to Investopedia, Progressive offers the best truck insurance options overall. They offer excellent truck claims service and practically limitless coverage possibilities. They now offer their services to a huge range of speciality truckers in all 50 states.


According to the same Investopedia article, Sentry focuses on truck insurance. Owner-operators of commercial trucking companies can use it in all 50 states. Additionally, they offer adaptable coverage choices for a variety of trucks. Additionally given an A+ AM top rating is Sentry.


When it comes to trucking coverage, The Hartford has integrated extremely specific coverage alternatives. The company doesn’t provide online quotes even though it serves all 50 states. The nicest thing about Hartford, though, is that they provide insurance for both owners and employees, including truck drivers.

Additionally, they offer coverage for the following automobiles:

  • movers and shakers
  • snub truck drivers
  • Ambulances
  • Fire engines


Online rates are available from CoverWallet, and you may purchase coverage right now. We discovered that the price of truck insurance, which starts at $125 per month, was fairly reasonable. The customer service and coverage alternatives provided by the insurance business are satisfactory.

City Farm

State Farm is known for providing excellent customer service. In all 50 states, they provide a variety of truck coverage, however they don’t provide any online rates. In the insurance sector, State Farm is a reputable brand name.

American Specialty

Currently, Wyoming, Arizona, Idaho, Oregon, New Mexico, Texas, Utah, Nevada, and Washington are the states where United Specialty conducts business. They offer protection against bodily injury, property damage, and auto liability. Online quotations are not available from United Specialty.

Independent Insurance

One of the well-known insurance companies, Renegade Insurance, offers trucking policies in 2021 at the most affordable prices. The business provides services in 48 states, DOT & Compliance Audit Assistance, round-the-clock customer support, and a sizable 20% discount on truck insurance plans.

Association of Owner-Operator Independent Drivers (OOIDA)
OOIDA specialises on owner-operator insurance products and is accessible in all 50 states. They assert that they provide full coverage for your motor carrier with no unspoken renewal conditions. They also provide affordable prices.

Occidental Truck

Currently active in 26 states, Western Truck Insurance provides a broad range of coverage. Either connect with a salesperson directly or get quotes online.

Nationwide Moody’s has given Nationwide an A1 rating, and AM Best has given it an A+ rating. The business also provides online pricing. If you have installed anti-theft devices or have a clean driving record, you may select from a variety of coverage options and take advantage of discounts.

Additionally, according to Construction Coverage, Nationwide is excellent for newer drivers and starting businesses because they provide affordable trucking insurance coverage for both.

Who Has the Best Motor Carrier Insurance Companies Policy, in Conclusion?

Renegade Insurance appears to be the best option for commercial truck insurance even though all truck insurance providers offer strong coverage alternatives. Your insurance purchase is guaranteed to be simple, quick, and worthwhile because there is so much to choose from, excellent customer service, and knowledgeable claims staff.

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