Owner Operator Truck Insurance

From Liability to Cargo, we keep you covered

When starting a trucking business, you must meet certain requirements to get your vehicles on the road. That includes insuring your fleet, which can be a complex endeavor. You will need to meet certain federal requirements for licensing purposes, but other insurance coverage may be a smart investment to protect your cargo and your drivers. 

If you have questions or concerns about your policy, Simplex Group will keep it simple for you. We streamline the process of getting insurance, help you get the lowest rates possible, and help you maintain your ongoing insurance coverage when you work with our team. 

Black Truck On A Highway

What Is Owner-Operator Truck Insurance? 

When you run a trucking company, the costs of an accident can be high. You have to worry about damage to the vehicles, drivers, passengers, and any cargo the commercial truck was hauling. That can turn into millions of dollars spent repairing the physical damage from a truck accident as well as bodily injury claims if you are not properly insured. 

Fortunately, owner-operators’ truck insurance policies cover property damage and injuries when an accident happens. Other insurance coverage your team may need may include general liability and workers’ compensation insurance. The many types of trucking industry insurance coverage available for owner operators can cover specific types of accidents for business owners, protecting you from many difficult situations. 

Talk to our team about your specific needs. We can determine what insurance policies are right for your needs and whether you already have the right insurance. We can help you go beyond the minimum and determine whether more extensive coverage is right for you and your team of employees. 

Benefits of Business Insurance 

When insuring your business with a reliable insurer, you are doing more than buying another required license or document. You are buying security for your company, which can be vital for owner-operators in the trucking industry. Accidents happen on the road (which may cause serious bodily injury), and having that support can be key to your company’s success. 

Below are just a few of the many benefits of business insurance, from your legal requirements to the peace of mind a strong, wide-ranging insurance policy can bring. If you are ready to talk with us about your own insurance policies, we are here to listen. 

Coverage for Many Types of Accidents 

As a trucking entrepreneur with your own authority over the operations, you may already be aware that something can always go wrong. Whether you are facing a lawsuit because a truck driver under your employment was careless and caused an accident, or one of your truck drivers was injured in the normal course of their employment, accidents can be costly situations for any business owner.

Insurance can help protect you in case of any of these commercial truck accidents. With the right insurance, you can rest easy knowing you will not pay out of pocket for the physical damage, property damage, and other losses. That coverage with good insurers means you can focus on the future of your business, not potential future accidents. 

Keep Your Business Legally Sound 

While some employers may be willing to take certain risks on their own authority, you may not have the option to a degree according to federal law. To maintain your license to operate across the country, including keeping your Department of Transportation (DOT) number, you may need to meet federal minimums for insurance coverage. 

Any commercial truck business operating on a nationwide level may have different needs and requirements compared to local businesses. Because of this, our team works hard to ensure you meet requirements that can keep your trucks running in every state. 

Reduce Risk for Your Cargo

When you own a trucking company, your first priority is the safety of your drivers. However, you have another big worry to face—the cargo they are hauling. If that cargo is damaged, it can be a costly situation that you may not have the funds to resolve. 

If you are worried about your cargo getting to its destination safely, your insurance coverage can give you some peace of mind. Insurance on your cargo means you have a safety net in case something unexpected happens. If you are concerned about your cargo, reach out to our team for protection options.

Large Truck On A Highway

Am I Required to Insure My Trucking Fleet?

When starting your own trucking fleet, you may be thinking about hiring your drivers without extensive insurance coverage. However, even if you feel confident about the driving abilities of your team, you may still need certain types of insurance because of the Federal Motor Carriers Safety Association (FMCSA). This association issues required licenses but will not approve your vehicles without appropriate coverage. 

When you are seeking your licenses from the FMCSA, you will need the following: 

  • Motor truck cargo insurance 
  • General liability insurance
  • Other insurance products
  • Rental reimbursement
  • Payment for other covered loss

However, this only protects you from certain types of damage and loss. While not required in every state, there are other types of insurance that can protect you when something goes wrong. The insurance types below may not be required in every state but may be vital to carry: 

  • Property insurance 
  • Workers’ compensation 
  • Health insurance and employee benefits 

Why Choose Simplex Group? 

As a trucking company owner, you may need further support and guidance to ensure your business runs smoothly. Trucking requires many licenses and permits, and keeping track of all these details and requirements can be tough. 

Because of this, many people turn to a compliance company to track and maintain their documents, logs, and permits. However, our team may not be the only one you are considering for your needs. 

So why choose Simplex Group? Below are just a few ways you can expect our team to help yours survive and thrive. If you need help with your company’s compliance needs, we offer guidance for all your needs. 

Decades of Experience

When you are building a relationship with an operations team ready to help your business succeed, you want to know that the company has a track record of success. Trusting an untried company may be difficult, and you may be worried about the security of your agreement. 

Our team has more than 20 years of experience working with trucking companies just like yours. We understand the legal landscape your trucking company is facing, and we have detailed, robust knowledge about your requirements and options. We are prepared to use that experience to help get you low prices and great coverage. 

Excellent Customer Service

Whether you are a new business or a multi-state corporation, you do not want to feel like just a number with your compliance and insurance team. You want to know that you can ask questions and talk to a person, not face an automated response that is not geared to your needs. That is why we pride ourselves on our customer service. 

When you work with our team, you are getting more than quick answers and knowledgeable responses. You are getting a team that will treat you like family. We want you to feel at home with our team. 

Innovative Solutions

Sometimes, generalized answers to your questions are simply not enough. You may need more specific answers that may not come easily. You may have needs for your trucking company, or you may have encountered a problem with your coverage that does not have a simple answer. 

If you are struggling to get the answers you need for your truck insurance questions, our team is here to help solve your problems. Our experience gives us specialized insight into your situation. Once we have analyzed your problem, we are prepared to provide creative, case-specific answers to any of your questions.

Headlights Of a White Truck

Owner Operator Truck Insurance FAQ 

As a new or ongoing business owner, you may have many questions about the services you need to keep your business running. For example, you may be concerned about the details of your insurance coverage and may wish to know more. 

If you have any questions about the compliance services we offer, reach out to us for answers about your company. We are prepared to guide you through this process and ensure you are getting the right types of insurance you need as the owner-operator. If you are unsure where to begin, check out our general FAQ below. 

Are there other types of truck insurance I should consider? 

Depending on the details of your trucking company’s services, you may have certain needs for your insurance. For example, if you are planning to complete a shipment by transferring the trailer of a truck to another, you want to ensure your cargo and truck are always safe by getting trailer interchange insurance. 

Likewise, long-haul trucking has different needs that may not be covered in standard commercial auto insurance. If you are unsure what you need, talk to us about your case and how we can help. 

Who does owner-operator truck insurance cover?

When you need owner-operator truck insurance, you may have already found that this insurance covers many parties. This insurance covers the costs of the injured parties, ensuring they have the funds needed to overcome their injuries. 

However, truck insurance also prevents you from paying out of pocket. Accidents may be unforeseen, but that may not prevent you from paying out of pocket without help. Talk to your compliance team about your insurance policy and who is covered. 

What rates can I expect from my trucking insurance?

The insurance rates you are offered depend on the details of your trucking company. The costs of your insurance may depend on the number of drivers you have, their driving records, the number of trucks on the road, and more. 

Because trucking insurance can vary so wildly, it is often best to determine whether you are receiving a good rate. Simplex Group can determine if you are receiving the best rate and work with you if you are not. 

Half of a Truck Photographed From The Front

What is the difference between primary and secondary liability?

Primary liability refers to the responsibility of fulfilling an agreement directly with another person. For example, if you are responsible for completing a shipment, you may be directly responsible or may have primary liability for completing the shipment. In trucking, the insurance you are required to have covers your primary liability if someone is hurt. 

Secondary liability is the liability placed on a third party to complete an agreement between two others. For your trucking coverage, that may be the case for certain types of policies. For example, your motor carrier may require secondary liability coverage. Talk to our team to learn more about these options. 

How can I get the lowest rate for my trucks? 

Getting the lowest rate can be difficult, especially if you are running your business and not focusing on your insurance coverage. Get the lowest rate for your trucks by talking to a team like those at Simplex Group about your options for lower rates. 

Contact Us for Your Insurance Options 

When insuring your trucking business, staying in control of your coverage and options can be a vital step for your business. However, you may be unsure how much coverage you need and what you can expect from that coverage. 

The team at Simplex Group is here to help. We can help you determine the coverage that is right for your business and what you need to keep your trucks licensed and on the road. When you are ready to reach out to learn more about your options, give us a call or fill out our online contact form.