Commercial truck insurance

Commercial truck insurance provides financial protection for businesses operating vehicles such as box trucks, semi-trailers, dump trucks, and tow trucks against damages, liability, and cargo loss. Carriers like Progressive and GEICO offer policies that cover bodily injury, property damage, and collision for commercial trucks used in freight hauling.

Typical annual premiums range from $8,000 to $14,000 per truck depending on factors such as vehicle type and driving history. Federal law (FMCSA regulation 49 CFR Part 387) mandates minimum liability coverage of $750,000 for trucks transporting freight across state lines.

Policies commonly include motor truck cargo insurance which reimburses up to declared limits for stolen or damaged loads such as electronics or produce during transit. Insurers factor variables like USDOT safety scores, driver experience (e.g. years with a CDL), and routes (local versus long-haul) into premium calculations.

Coverage typically excludes non-business use incidents such as personal errands taken off duty. Policyholders must submit filings like the MCS-90 endorsement to prove financial responsibility when required by authorities.

Non-trucking liability coverage addresses liability during non-dispatch periods when a leased owner-operator drives without a load or under another company’s authority, as delivered by Your Insurance Info. Claims processing time averages two to six weeks based on factors including accident documentation quality and third-party coordination.

Endorsements such as trailer interchange agreements allow operators to insure trailers not owned but hauled temporarily between carriers.