Semi-Truck Insurance

Semi-Truck companies crossing states lines are required by federal law to purchase a minimum of $750,000 in primary auto liability insurance to maintain an active operating authority. However, most motor carriers purchase at least $1 million of coverage as it is required by the majority of shippers & freight brokers. For state filings, it is important to check the requirements of your state and discuss with a trucking insurance agency licensed in your state.

At 925 Partners, we represent dozens of A rated insurance companies, and our agents are trained to identify and present the best solution for your trucking company. Our dedicated truck agents have experience working with all types of trucking operations. Including but not limited to Dry Van, Intermodal, Auto Haulers, Flat Bed, Reefer Haulers, Heavy Haul, Tankers, Logging, US Mail Contractors, and more.

Helpful Links

• Owner Operator FAQs
• UIIA Insurance Requirements
• UIIA Insurance Agent Directory
• DOT Online Application for Motor Carriers
• How to Obtain Your UIIA Insurance Agent Code

Semi-Truck Insurance Frequently Asked Questions

What kind of insurance do I need for a trucking company?

Long haul trucking companies are required to purchase at least $750,000 in commercial auto liability insurance. However, most companies purchase $1,000,000 of coverage. While auto liability will be the most expensive coverage, most trucking companies also purchase $100,000 in motor truck cargo insurance, $1,000,000 in General Liability insurance, and Physical Damage coverage to protect against damages to their own equipment. Most trucking companies with 4 or more employees also purchase Workers’ Compensation.

Why is semi-truck insurance so expensive?

The primary reason is nearly every motor carrier is required to purchase $1,000,000 in auto liability insurance, or at least $750,000. This is significantly more coverage than most individuals purchase for their personal vehicles. Due to this information being widely known, there is a greater incentive for plaintiff attorneys to pursue actions against trucking companies. Another reason is the greater impact large heavy vehicles cause when they are involved in an accident, compared to a private passenger vehicle. The sheer size of a tractor trailer on the road presents more hazards than an average private passenger vehicle.

How much does semi-truck insurance cost?

There are motor carriers that pay as low as $5,000 annually per truck, and some that pay upwards of $30,000 annually per truck. There are numerous factors to consider, but our semi-truck insurance agents are well trained and can usually provide a rough estimate during an initial phone call. You can reach us at 855-925-1200.

How can I lower my semi-truck insurance cost?

Operate safely with minimal claims and have a driver base consisting of experienced drivers with minimal violations. These actions along with accruing more years in business will put you in the best position possible to lower the cost of your semi-truck insurance.

Is insurance more expensive if I haul refrigerated cargo?

Yes, but relative to your overall insurance cost the increase is minimal. Often the increase is less than $1,000 annually per truck (less than $100/month per truck). The coverage needed is a refrigeration breakdown endorsement on your motor truck cargo policy. A standard motor truck cargo policy would not cover a cargo loss caused by a mechanical breakdown of the refrigeration unit. This endorsement is a standard requirement from any shipper with refrigerated goods.

Do you offer policies for CDL drivers with less than 2 years of experience?

Yes, we have several companies that will accept newer drivers. Even drivers with less than 1 year of CDL experience. However, motor carriers with more experienced drivers on average receive more favorable rates.

Commercial Trucking Insurance – Standard Coverages

Below are the insurance coverages most for-hire trucking companies purchase, regardless of size or operation type.

• Primary Auto Liability – Coverage for bodily injury or property damage to a third party caused by an insured vehicle. If legal action is taken against you because of the accident, your auto liability insurance coverage also includes the cost of your defense, regardless of if you are found to be at fault or not.
• Physical Damage – Coverage for loss or damage to a scheduled vehicle/trailer. The policy should include coverage for both comprehensive and collision losses. A comprehensive loss is caused by a nonmoving event (Ex: theft, fire, acts of nature, etc.). A collision loss is caused by a collision while a vehicle is moving. It is important to note that vehicles/trailers covered for auto liability are not automatically covered for physical damage. It is recommended you provide your agent with a list of all company equipment and the value of each piece of equipment. Typically, motor carries do not purchase physical damage coverage for owner/operators leased onto their authority. All Owner/Operators should purchase their own physical damage coverage for their own equipment.
• Motor Truck Cargo – Coverage for losses or damage to goods while in the possession of the motor carrier.
• General Liability - There is still a significant number of trucking companies operating without General Liability insurance, however a clear majority now carry a limit of at least $1,000,000 per occurrence. While this is a common contractual requirement, general liability claims are very rare as they do not provide any coverage for claims related to the moving of a vehicle. For owner/operators, or companies with less than 10 power units, the annual premium is typically less than $1,000.

Additional/Operation Specific Coverage Options.

• Trailer Interchange/Non-Owned Trailer
• Workers Compensation
• Uninsured/Underinsured Motorist Coverage
• Excess Liability
• Occupational Accident
• Bobtail/Non-Trucking Liability
• Transportation Pollution Liability
• Refrigeration Breakdown Coverage
• Constructive Total Loss and Diminished Value (Auto Hauler Specific)
• UIIE-1 or CA 23-17 equivalent (UIIA requirement for container haulers)

Motor Carrier Filings

Depending on where you are located and the type of business you conduct, filings may be required by federal and/or state governments. The auto liability insurance minimum for interstate (multiple states) Motor Carriers is $750,000 of Combined Single Limit (CSL) coverage. However, most motor carriers purchase at least $1 million of coverage as it is required by most shippers & freight brokers. For state filings, it is important to check the requirements of your state and discuss with a trucking insurance agency licensed in your state.

At 925 Partners, our licensed truck insurance agents will be glad to assist you with any filing questions specific to your operation.

Why choose 925 Partners Insurance for your Semi-Truck Insurance?

• Trucking Specialized Staff: Our agency has a dedicated trucking division that understands how to service the insurance needs of trucking companies.
• More Competitive Quotes Options: As an independent agency, we represent over 20 A rated insurance companies to ensure our current clients and prospective clients are presented with the most competitive options available.
• Low Down Payment Options: We have an in-house premium finance company that enables us to offer down payments lower than industry average and overall, more competitive terms.
• Certificates of Insurance: Clients receive 24/7 access to a free portal where you can generate your own certificates of insurance at any time of day.
• Federal and State Filings: Our agents understand the importance of state and federal filing requirements. We work closely with the insurance companies to ensure necessary filings are submitted in a timely manner.
• No cost consultations: There is no cost for speaking with one of our licensed truck insurance agents. Give us a call at 855-925-1200 and ask for one of our many trucking specialists.

Call 925 Partners today at 855-925-1200 with any questions you have and our agents are happy to help...