Commercial Trucking Insurance

From Liability to Cargo, we keep you covered

Running a trucking company is not simple, as it requires a lot of paperwork and details. From hiring drivers to buying or leasing trucks to registering your company with the state, the thought of opening a trucking business is overwhelming. Whether you operate several trucks or manage a fleet of dozens, the likelihood of one of your drivers or trucks being involved in an accident in the American ever-crowded highways is one of your greatest worries.

At Simplex Group, we have been protecting business owners and trucking drivers across the country with top-notch commercial trucking insurance, unparalleled claims handling, uncomparable prices, and best-in customer service and support for more than 20 years. No matter where the road takes you, rest easy knowing that we are one of the most trustworthy commercial truck insurance agencies in the United States. We have made it our primary goal to understand and serve our insureds’ needs.

Photo of a Truck on the Road

What Is Commercial Trucking Insurance?

Commercial truck insurance is a group of specific commercial auto insurance policies designed to meet all the needs of trucking businesses. The Department of Transportation sets the auto insurance requirements for all motor carriers that cross state lines, but commercial truck drivers need more insurance coverage than a car driver would need. A basic commercial truck insurance policy will cover your trucks in the event of an accident, while a collision and comprehensive coverage will cover most damages from an extended range of perils. 

Moreover, specialized commercial truck insurance for your fleet can include coverage for specific liability issues and additional perils. You can also add coverage for your cargo to protect your investments as you haul time-sensitive and valuable goods across the country. After basic and specialized trucking coverage, you can add non-trucking options to your policies. For example, occupational accident coverage will protect your drivers in the event of an accident, dismemberment, or death. Separately, non-trucking liability coverage can protect you against incidents when a truck is not transporting cargo. 

We have over 20 years of expertise and experience in servicing trucking businesses. Here at Simplex Group, our team can take care of your commercial truck insurance and provide you with the coverage you need to make your business a success. Over the years, we have grown to be one of the leading commercial truck insurance companies, supporting transportation entrepreneurs and providing the most complete services for America’s trucking industry.

Who Needs Commercial Truck Insurance?

Commercial transportation businesses, independent truck drivers, independent owner-operators, and any business with trucks, drivers, or transportation-related activity need to purchase commercial truck insurance. Whether you operate a single truck or a wide fleet that’s spread across the U.S., basic commercial truck insurance is required by law and provides an extended variety of options to tailor your protection. Unlike commercial auto insurance, the commercial trucking insurance has been designed specifically for cargo and trucks. According to The Federal Motor Carrier Safety Administration (FMCSA), any commercial operation of a truck must hold a commercial truck insurance policy.

At Simplex Group, we provide the following trucking insurance programs.

1. Commercial trucking liability for:

  • New business ventures and established fleets
  • Auto haulers
  • Straight trucks
  • Mixed radius
  • Intermodal
  • UIIA and trailer interchange available
  • Local, intermediate and long haul
  • Coverage for one vehicle or any size fleet

2. Trucking Cargo Coverage for:

  • Dry goods
  • Flatbed
  • Auto haulers
  • Reefer
  • Intermodal
  • General freight

3. Physical Damage

  • Damage Coverage for individual and fleet owned equipment

4. Non-Trucking Liability and General Liability

  • Based on your unique exposure additional coverages may be available

As your business partner, our commercial truck insurance company aims to provide you with the best insurance value for your dollar and with ideal customer services. We focus on helping balancing your needs with cost-effective insurance programs that offer unique coverage and superior protection. Together, we can build the perfect insurance plans that include liability, employee benefits, physical damage, motor truck cargo, risk services, and fleet safety.

Photo of green colored trucks

What Are the Commercial Trucking Insurance Requirements?

Trucks are the backbone of American commerce, with more than 3.5 million heavy-duty trucks carrying more than 70% of the country’s freight in 2016. The trucking industry employs over 7.3 million people, moving 10.5 billion tons of materials and goods every year. Due to so many trucks on the road, the FMCSA has strict rules about insurance coverage. 

Freight trucks are incredibly heavy, being capable of causing extensive damage and are three times more likely to be stolen than passenger motor vehicles. Not to mention they are full of valuable goods. So, without proper insurance, trucks can’t run. The FMCSA will not issue operating authority without proof of cargo insurance and liability, and the exact coverage will depend on the type of freighter and what it carries. For example, hazardous materials carriers will be subject to stricter rules and higher levels of insurance. 

On the other hand, the USDOT also requires commercial vehicles that carry products from state to state to obtain a USDOT number. A commercial truck weighing over 16,000 GVW, or transporting hazardous materials and requiring placards, must register to get a USDOT number. 

The minimum required limit of commercial coverage depends on the type of freight you haul, as seen below:

  • Non-hazardous freight moved in vehicles under 10,001 lbs – a minimum of $300,000
  • Non-hazardous freight in vehicles over 10,001 lbs – a minimum of $750,000
  • Oil moved by for-hire and private Carriers – a minimum of $1,000,000
  • Other hazardous material moved by for-hire and private carriers – a minimum of $5,000,000

How does commercial truck insurance work, though? Like personal auto insurance, most common commercial truck insurance types that truck insurance companies can provide include cargo, liability, personal injury protection (PIP), physical damage, uninsured/underinsured motorist, general liability, and non-trucking liability. 

The most important type of commercial truck insurance policy your trucking company can buy is liability insurance. Suppose one of your drivers is responsible for an accident, then liability insurance will cover for the medical bills and ongoing medical care of anyone who was injured. The liability insurance can also cover for long-term care, rental reimbursement, or auto repair. As you can notice, an accident can result in financial ruin for a small trucking company. However, when you have excellent commercial truck insurance, you can be financially secure in the case of an accident.

What Is the Average Commercial Truck Insurance Cost?

The cost of a commercial truck insurance can vary greatly, depending on cargo, route, vehicle type, location, and driving history. If your trucking business is hauling cargo, you should know that the type of cargo is an important factor, because some goods and material are more dangerous to transport. Hauling hazardous materials is another factor that can make your insurance policy cost more. 

Moreover, insurance for trucking companies will depend on the type of vehicle being insured. For example, a large semi-truck might do more damage than a tow truck, which is why it will cost more to insure. Newer trucks are usually more expensive to insure, too, because they will cost more to replace or repair in the event of an accident.

Another factor that can impact the cost of your trucking insurance is route. Trucks operating within a larger radius are typically exposed to higher risks. Because longer routes will mean longer hours and probably unfamiliar highways, trucks with larger routes will pay more. Likewise, insurance prices vary by state. Some areas can simply cost more due to weather conditions, or increased traffic.

Ultimately, driving history is another important factor when it comes to insurance costs. Just like a personal auto insurance policy, traffic violations and accidents will raise your insurance costs due to the potential impact of an accident with a large truck. Having a clean driving record can save you hundreds of dollars or even more every month, based on the size of your fleet.

At Simplex Group, our team will work tirelessly to find the most competitive insurance rates for our trucking clients. Because our main goal is to help your business grow and become successful, we can put together a policy with various types of truck insurance that will provide you protection while staying within your budget. 

When you choose to partner with us, you will have decades of experience and expertise on your side. Our proven record of reliability, excellent customer service, and affordability sets us apart from the competition. Contact us today and let our dedicated and knowledgeable team members walk you through every detail of your new commercial truck insurance policy.

Photo of pared trucks

Why Choose Simplex Group as Your Trusted Commercial Truck Insurance Provider?

Whether you own or drive an 18 wheeler for a living, you need a trustworthy ally who understands the unique commercial insurance needs of your trucking business. Our Simplex Group experts have been providing commercial truck insurance and complete transportation services for America’s trucking industry for more than 20 years. In addition to commercial truck insurance, our services also include DOT compliance, permitting, factoring, and freight planning. 

With deep roots in the transportation industry, our experience, skills, and knowledge of commercial trucking operations are second to none. Our specialists are well versed in the ever-changing transportation requirements, providing you with insurance coverages that best fit your needs and budget. We are your one stop shop, offering all trucking services you could ever hope for in one place. 

As your trucking company can change and grow, your commercial trucking insurance needs will as well. That is why we recommend an annual insurance review for all of our clients. Due to the ever-changing nature of the transportations and insurance industry, the yearly review will confirm that you will be getting affordable truck insurance. 

At Simplex Group, we are always determined to find new ways to improve your commercial truck insurance coverage and costs. From helping you understand what insurance policies are ideal for you, to simplifying the entire process, our team is here to serve. We know the ins and outs of the trucking industry and what it takes to keep your business fully protected without having to break the bank. 

At Simplex Group, we will leave no stone unturned to ensure your business succeeds with our comprehensive insurance coverage. If you are a trucking business, or an owner-operator, please give us a call today for a free quote and learn about our coverage options.

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