If you own a semi-truck or another commercial vehicle, you require a different type of commercial trucking insurance available than those who lease their vehicles. When you own, you operate either under your own authority or via a permanent lease, so you would be wise to seek a special kind of commercial trucking insurance.At Strong Tie Insurance, we understand your unique situation and needs. That means we can help you get the right type of owner-operator truck insurance without breaking the bank. Do I Need Owner – Operators Insurance?As you may already know, primary liability coverage is required by all states. This is often referred to as minimum coverage.Commercial liability insurance pays for damage or injuries caused by a trucking accident. If you operate under a permanent lease, your carrier will most likely have liability coverage for you in its policy while you are under contract.If you operate on your own authority, outside of a company’s dispatch, you should consider additional coverage that can protect you and your truck. If something happens when you’re not on the job, you could be held fully responsible.That means hefty legal fees, lawsuits, or more. Even causing an accident on your way home after dropping off a load could be the end of your business as you know it. Comprehensive Commercial Truck Insurance Get the appropriate coverage you need from a trusted insurance provider. Contact us now Types of Commercial Owner Operator InsuranceThere are several types of insurance that your dispatcher won’t purchase for you, but it is invaluable to your livelihood. When looking at the kinds of insurance policies available, you should also consider if your permanent lease offers any protection or if you are entirely on your own. Here are the types of coverage you should consider.If You Work Under Permanent LeaseNon-trucking liability. Coverage for when you use your truck for personal use and not under contract or dispatch. Physical damage. Works to fix or replace your truck if it’s involved in an accident or is stolen.Trailer insurance. If you pull a trailer that you do not own and it is damaged while under a trailer interchange agreement, trailer insurance has you covered.If You Operate Under Your Own Authority or as an OwnerLiability. Pays for damage that you cause to other people or their property. This owner operator insurance coverage typically includes relief for both bodily injury liability and property damage. Physical damage. If your truck is damaged in an accident, this coverage will help get you back on the road. Motor truck cargo. This type of insurance covers the property you are hauling in case it is damaged or stolen.There are, of course, various other types of insurance and numerous situations where owner-operator insurance is necessary. Owner Operator Insurance CostsThere are a variety of elements that can impact the cost of your owner operator insurance. The best way to know is to call for a free quote and consultation.Here are some of the most-pivotal factors insurance companies use to create your quote:Business typeThe type of vehicle being insured, including age, maintenance records, etc. Where the truck is located and where it makes deliveriesThe operator’s driving history. The type of coverage needed.Get Your Free Quote TodayWhether you are branching out on your own for the first time or you’ve been under a permanent lease for years, it’s never too late to shop around for the best and cheapest owner operator insurance programs.If you want reliable commercial insurance that won’t break the bank, give us a call at (844) 961-6161 to get your free quote and consultation. Owner Operator Insurance Coverage was last modified: August 26th, 2023 by Strong Tie Insurance