Commercial Trucking Insurance Georgia

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Trucking is a rewarding but sometimes dangerous business. When a driver gets behind the wheel of a semi-trailer truck, they are operating a vehicle that might weigh over 10,000 pounds. They could be hauling hazardous material or material that can cause a major accident if it spills on the road. Any driver needs to have insurance, but it is even more important for a truck driver to be insured in case the worst happens. Simplex Group can make sure that your trucking company has every type of insurance necessary to be successful.

Photo of green colored trucks

Commercial Truck Insurance Requirements

The Federal Motor Carrier Safety Administration is the agency within the Department of Transportation that sets standards for the trucking industry. The FMCSA requires that truckers who operate vehicles that weigh over 10,000 pounds and cross state lines or transport large amounts of hazardous materials have between $750,000 and $5,000,000 of insurance. 

If your drivers haul non-hazardous material transported in a vehicle that weighs between 26,000 and 10,000 pounds, you are required to have $300,000 of coverage.

If your trucks never leave the state, you should know the state recommends Georgia commercial truck insurance coverage of $750,000 in liability insurance for intrastate trucks. If you carry oil products, you should have $1,000,000 in liability insurance. Trucks hauling hazardous materials should carry $5,000,000.00 in coverage.

What Liability Insurance Covers

If your driver causes an accident, liability insurance will cover repairs to any vehicles that might have been damaged. It will also cover any medical bills for people who were injured in the accident. It will not cover the medical bills of the driver because your worker’s compensation insurance should cover that. You may also be able to obtain personal injury protection insurance.

Trucking accidents are like no other collisions on the road. Not only can there be damage to cars and people, but there can be serious damage to the road. If your cargo spills out all over the road, it will have to be cleaned up; collision insurance will cover this cleanup. If you are hauling hazardous materials, you could damage the environment. A community will want to be compensated for the damage. Insurance can cover that as well. 

The average cost of medical bills from a trucking accident in the U.S. is $148,279. If someone dies in an accident, the cost is around $7 million. You will need far more insurance than the FMCSA requires.

You should always buy your insurance from a company that specializes in trucking. When you use Simplex Group, we will analyze your needs based on the number of trucks you have, the quality of those trucks, and the number of drivers you have. We will figure out exactly how much insurance you need to be safe. We are committed to saving you money and making sure you are covered for anything that might go wrong.

There are unethical insurance companies out there that may try to take advantage of you and sell you more insurance than you need. We know how hard you work for your money. We consider the trucking companies we work with to be our partners and will always find you a fair rate.

Cargo Insurance

The FMCSA does not have an official cargo insurance minimum for trucks carrying commercial cargo. However, you will need cargo insurance if you want to run a trucking company because your clients will insist upon it. When you make a contract with them, you will specify the amount of insurance that you have in the contract. At a very minimum, your clients will want to make sure the wholesale cost of their products is covered.

What Cargo Insurance Covers

Cargo insurance will cover damages to the products you are carrying if you get into an accident and spill them. It will also cover the cost of cargo that is damaged by weather conditions. 

Although commercial trucks are more secure than they used to be, theft still happens. There have even been instances of highway robbery and piracy. Cargo insurance will cover items that are stolen. 

Drivers are human, and sometimes they may deliver a package to the wrong address or drive a few blocks with the back of their truck wide open. Cargo insurance will pay for items that are lost along the way.

General Insurance

No matter what kind of business you are in, you will need general insurance if you have a brick-and-mortar facility. General insurance will cover you if someone takes a spill on your property. Trucking garages can have a bevy of activities going on and some mishaps are bound to happen.

Reefer Insurance

Closely related to cargo insurance is reefer insurance. Refrigerated trucks can be very lucrative, but if the refrigeration system breaks down, you could have a major mess on your hands. It is very important to have reefer insurance so that any cargo that is damaged is paid for. Many cargo insurance policies will not cover damaged frozen goods. Hence, it is a good idea to have a separate policy to cover this type of cargo.

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Physical Damage Insurance in Georgia

Any insurance company will tell you that a trucking company needs physical damage insurance. If your driver causes an accident, your liability insurance will pay for damage to anyone else’s vehicle. However, your vehicles will not be covered by liability insurance. Physical damage insurance will help pay for your truck if your driver causes an accident. If your trucks are financed, the financing company will insist that you have this important type of insurance.

Why You Should Hire Us

There is no other company like Simplex Group in the country. We assist new trucking companies with their every need and ensure you are compliant with federal trucking laws. We are well-versed in Georgia state law and know exactly what kind of insurance is required. We can put together the perfect package for you and help you with truck factoring and paying taxes. Give us a call today.