Commercial Trucking Insurance

Opening a trucking company is not an easy task, it requires many details and paperwork. You have to buy or lease trucks, hire drivers, and register your business with the state, and much more. Purchasing commercial trucking insurance is imperative in order to activate your motor carrier authority, and legally be able to operate. Simplex Group’s team of commercial trucking agents will put together a comprehensive commercial trucking insurance package for you, based on your specific needs. 

The Department of Transportation sets the insurance requirements for motor carriers that cross state lines. Commercial truck drivers need more insurance coverage than a regular driver would need. They also need several different types of insurance. With 20 years of experience in servicing trucking businesses, Simplex Group can take care of all of your commercial truck insurance and provide you with the comprehensive coverage that you need to make your business a success.

The USDOT requires commercial vehicles that haul products from state to state to get a USDOT number. Each of those vehicles must carry a certain amount of insurance based on the kind of cargo that they haul. 

A commercial truck that weighs over 16,000 GVW or a vehicle that is used to transport hazardous chemicals and requires placards must register to obtain a USDOT number. There are several types of commercial truck insurance that commercial truck insurance companies provide: 

• Liability
• Cargo
• Physical Damage
• Personal Injury Protection (PIP)
• General Liability
• Uninsured/Underinsured Motorist 
• Non-trucking Liability 

Liability insurance is the most important type of commercial truck insurance policy that your trucking company can purchase. If one of your truck drivers is responsible for an accident, liability insurance will pay for the medical bills of anyone who may be injured. It will also pay for ongoing medical care, such as physical therapy. Trucker’s liability insurance also pays for long-term care, auto repair for their car, and rental reimbursement as well.

In addition to paying the medical bills of anyone injured in the accident, a commercial truck insurance company can provide an insurance policy that covers environmental cleanup/pollution coverage if necessary. An accident can mean financial ruin for a small trucking company. When you have great insurance, you can be financially secure in the event of an accident.

In some cases, you may owe money to a community where you had a trucking accident. A roll-over accident can cause a pile-up, and the roads may be blocked for a long time. 

We will ensure that you have the proper amount of insurance to not only comply with the law but ensure the safety of your drivers and others. Having the proper amount of insurance is essential to being DOT compliant. It is essential to a company’s reputation with its clients and the general public. We offer affordable commercial truck insurance to new companies so they can invest their money in promoting and growing their companies.

Types of Vehicles and Hauls

The trucking industry requires plenty of liability insurance, but the insurance you need will also depend upon the kind of products that you haul. We can create a comprehensive plan that will include cost-effective coverage for specialty truckers and those who drive an ordinary semi- truck. 

Straight Trucks

Not every truck driver operates a semi-truck. Straight or box trucks are used for moving home and office furnishings and other important supplies. We will make sure that your vehicles and drivers are ensured whether they are traveling 2 miles or 2000. Although there are fewer things that can go wrong with a straight truck than with a semi, straight truck accidents still account for 3% of fatal traffic accidents on the highways.

New Ventures

If you are a new company, there will be some insurance companies that will not want to take you on as a client. They may think your lack of experience will make you and your drivers high risk. We specialize in helping new companies with their insurance, their compliance, and finding them loads. 

If you are an experienced owner who is starting a new trucking company or a specialized company, we can help you with that as well. We bring over 20 years of experience to the table. 

Local

If your drivers simply take intra-state hauls, we can provide you with all the insurance you need to protect your assets and personnel. Different states have different laws when it comes to insurance for local drivers. 

In the state of Florida, a truck that weighs between 26,000 and 35,000 pounds must have $50,000 of insurance for bodily injury and damage to vehicles combined. Trucks that weigh more than 44,000 pounds need $300,000 of insurance. California requires $750,000 in general freight liability insurance. 

Intermediate and Long Haul

Drivers who travel over 250 miles in a trip are considered long-haul drivers. They are subject to federal regulations and must have the federally required amount of insurance. If you do not have this insurance, you will not be able to activate your motor carrier authority. 

Mixed Radius 

New trucking companies will often take hauls of all different lengths. Some of your vehicles may go from New York to Los Angeles, and others may go from Miami to Boca Raton. 

A small trucking company that does mixed radius shipping may not be able to afford to pay for long haul insurance if they only do interstate runs. We can build you a mixed radius plan because we know that saving money is critical to the survival and growth of your small trucking company. 

Auto Haulers

If you move cars for a living you know that there are many potential hazards involved in auto hauling. When an ordinary vehicle hits a pothole, only that vehicle is damaged. When an auto hauler hits one, it can disturb several vehicles simultaneously. 

When an auto hauler has a crash, it can cause massive injuries and damages to the cars and to the highway itself. The FMCSA requires auto haulers to carry at least $1 million of auto insurance. 

The contracts you have with the client may stipulate even more insurance. We will find you the most airtight policy available so that you can send your drivers out knowing that they are ready for anything.

Intermodal

If you have trucks that pick up products from the docks/railyards, you are going to need intermodal insurance. Intermodal insurance covers trucks that carry shipping containers. The word intermodal simply means two or more forms of transportation. 

When an intermodal trucker takes a haul, they must worry about the roadworthiness of the chassis. They must also make sure the load is locked in with pins because unstable loads are a major cause of accidents.

Most trucking companies do not own their own chassis. Instead, they borrow or lease the from a shipping company. Hence, they will need insurance for the rental.

UIAA & Trailer interchange 

The Uniform Intermodal Interchange and Facilities Access Agreement is a contract between trucking companies. It addresses the interchange of equipment between equipment providers and trucking companies. The IIFAA has its own insurance requirements for truckers. We are experienced with all of their rules and can write you a policy that will make you fully compliant.

Available Coverage for One Vehicle 

If you are an owner-operator who is simply looking for a way to insure the truck you use for work, we would be happy to write an insurance plan. If your company owns a truck and employs a driver, we can also handle insuring the vehicle.

Cargo Insurance

Your clients work just as hard to build their businesses as you have worked to build your trucking company. When they entrust you with their precious cargo, they expect you to get it where it is going in one piece and on time.

Unfortunately, an accident may cause motor truck cargo to be damaged along the way. In other cases, an accident might not damage the cargo, but it might cause a driver to arrive late. Each truck must have a certain amount of commercial trucking auto insurance for cargo.

Trucks with 16,000 GVW and greater typically buy $100,000 in cargo coverage. Depending on the lease agreement, trucks that carry hazardous materials need a min of $1,000,000 of cargo coverage. For straight trucks, depending on what they are hauling, you could see $50,000 cargo limits.

Motor truck cargo insurance will not only cover you in case of an accident, but it will cover you if your goods are stolen. Theft is an ongoing problem for truck drivers, and recently there has been a rash of trucking piracy in which drivers are held up at gunpoint.

We will make sure you get the very best commercial truck insurance for a low price. We want your clients to trust you and recommend you to other companies. 

As with regular liability insurance, there are a few different types of insurance you might need to make sure to protect your cargo.

Reefer

A refrigerator truck has many moving parts, and several things can go wrong as it travels down the highway. They have a closed refrigeration system and rely on a compressor to work correctly. When the refrigeration stops working, you can have a mess along with a lot of spoiled products. You will need insurance to cover the product loss. 

If you are transporting high-risk foods such as fish or dairy products and they are not refrigerated properly, someone may get sick and sue your company. We can insure you to protect you from any potential problems.

General 

We can provide insurance for general cargo such as furniture, office supplies, and mechanical equipment. The FMCSA requires that household goods are insured for at least $5,000 per vehicle and $10,000 per occurrence.

Dry Goods 

Dry goods are basically products that cannot get wet such as canned goods, paper products, auto parts, etc. Each client will have certain contractual stipulations for their insurance. We can make sure that each one of your client’s requirements is met so you will be fully protected in the event of an accident.

Flatbed

Flatbed trucks are wide open, and there are many things that can go wrong with them if they lose a load, or if a load shifts or rolls over. We know flatbeds are easy to load and unload, but if you have an accident, it can result in major damage to your cargo. It is important to have a good insurance policy for products that you will transport on a flatbed.

Intermodal 

In addition to insurance for the chassis you will need to rent, you will need to have cargo insurance for the vehicles that you are carrying. When you are carrying containers that belong to and were packed by a different company, it is very important to follow their handling instructions and have insurance coverage in case something should go wrong.

Auto Haulers

Auto haulers are required to carry $100,000 worth of insurance, but most contracts will require you to carry much more. When you haul cars, you are taking responsibility for hundreds of thousands of dollars of equipment. Our trained agents can recommend a safe amount of coverage to offer to your clients.

Physical Damage

Trucks are extremely expensive pieces of equipment. Although they are built to be tough, they can still be damaged in an accident. If a truck driver causes an accident, liability insurance will not cover physical damage to the truck. If another driver Is responsible for the accident, they are likely only to have the required amount of insurance in the state where they live.  It is unlikely that an ordinary driver would have enough liability insurance to cover the cost of the truck. 

Physical damage insurance will pay for damages to your truck from an accident. You can also get comprehensive insurance that will cover the truck if it is damaged by the weather or stolen. You will be able to get repairs at pre-approved repair shops. We will write you a trucking insurance policy to ensure that your investment is well protected!

Personal Injury Protection

There are two types of insurance in the United States: fault and no-fault. In a no-fault state, a person’s insurance company should pay for their injuries no matter who caused the collision. In a fault state, the person who caused the accident is expected to pay its related bills.

Things are a little different when it comes to trucking insurance. If a truck driver has an accident in a fault state that they did not cause, the responsible party is supposed to pay the bills. However, injuries from a trucking accident can be quite severe. Unlike commercial auto insurance, their insurance policy may not be enough to cover a driver’s medical bills.

In some cases, the responsible driver may not have any insurance. It is important to carry personal injury protection, known as uninsured driver insurance. 

General Liability 

The trucking business is, first and foremost, a business. Like every other business in the world, it needs insurance in case somebody injures themselves when visiting the company headquarters. Like any other business,  a trucking company will receive deliveries of office supplies and meals. Clients will visit, and so will job applicants. 

When you have multiple people coming in and out of your business, it is important to make sure that the floors are not slippery and that the walkways are clear. If a person slips and falls on your property or is otherwise injured due to your negligence, you will be expected to pay their medical bills. 

Cyber liability is a concern these days. If you store sensitive information about clients or for-hire truckers, that information may be compromised and your company can be sued for a breach. 

That’s why it is very important to have General Liability Insurance. When Simplex puts together your insurance package,  we will be sure to include an airtight general insurance policy. Owner-operators will never have to worry about the safety of anyone who comes to inquire about using their services. When your clients come to visit your office, they should see what a hard-working staff you have and what a well-run operation you oversee.

At Simplex, we will do everything in our power to make sure your business succeeds with our comprehensive coverage. If you are an owner-operator of a trucking business, give us a call today for a free quote of affordable truck insurance and learn about all of your coverage options.