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Get the Appropriate Insurance Coverage for Your Semi Truck

Semi truck insurance, also known as owner-operator insurance is a liability cover for injuries or damages caused to other parties when the driver is at fault. Different types of protection may be added depending on several factors that are special to the driver. On average, truck insurance costs for leased owner-operators can range from $1,500-$2,000 per year. If you are an owner-operator with your own authority, the prices range from $9,000-$12,000 for each truck you own. For new authorities, the new pricing is a bit higher in recent years and ranges from $12,000-$16,000.

Why You Need a Commercial Semi Truck Insurance Coverage

To use the public roads in California, the state requires that you should adequately insure your vehicle. The main reason is to have an orderly system of compensation should an accident occur.

Additionally, as a business owner, you need to keep the trucks on the road and avoid any downtime that may be caused by accidents. Any slight delay in your business activities can cause losses that should be avoided at all costs. The best way of doing that is by having a reasonable semi truck insurance quote. Otherwise, you’ll be open to a series of lawsuits as a result of accidents caused by an uninsured vehicle.

Besides, there are so many business advantages that come with commercial semi trucking insurance. You can get compensated should one of your trucks get involved in an accident. The compensation may include covering the medical costs of the driver and any damage to the third-party. It saves you the stress of having to handle unexpected financial surges. 

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How Much is the Average Truck Insurance Cost for Your Commercial Truck

Generally, the type of policy that you need and the type of truck that you drive will determine the cost you will pay. Motor carriers bear the responsibility of providing for primary liability. If you are a trucker with your own authority, then you will cater for primary liability plus, bobtail, NTL plus any extra costs that may arise.

  1. Primary liability ($5,000-$7,000)

This covers the damage that happens to others as a result of your driving. It does not necessarily cover your own semi truck.

  1. Physical damage ($1,000-$3,000)

It offers coverage for damages caused by a natural disaster, collision, vandalism, and theft that results in actual physical damage to the truck.

  1. General liability ($500-$600)

General liability insurance has a much broader application and covers a majority of what is not covered by primary liability. It applies to the business itself and not the trucks.

  1. Bobtail insurance ($350-$400)

Bobtail insurance covers the driver and the truck when they are not hauling any load, especially when traveling between jobs. It applies to a semi-truck with no trailer attached.

  1. Umbrella policy ($500-$700)

This provides protection above and beyond general liability, auto liability, and worker compensation.

  1. Occupational accident ($1,600-$2,200)

Compensates for work-related injuries as well as provide income benefits and medical payment.

  1. Cargo coverage

Cargo coverage varies according to the cargo limits required for each type of cargo.

  1. Non-trucking

Non-trucking liability covers damages and injuries to third parties that are caused by a lease driver while for non-business purposes.

When shopping for the best semi trucking insurance quote, it is best to compare offers from several companies in the market. It is always a bit hard to find a one-size-fits-all coverage for your semi truck since most insurance companies do not explicitly write all the trucking risks. However, if you dig a little deeper, you might just find the right company to fulfill all your needs.

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Strong Tie Insurance offers comprehensive commercial trucking insurance.

The Best Commercial Truck Insurance Coverage for Your Trucking Business

Vehicle owners face multiple risks daily. At Strong Tie Insurance, we know the hustle that you have to go through to keep your vehicle running throughout the year. That is why flexible semi truck insurance quote that fits the need of most vehicle operators.

We offer a wide range of insurance policies that cover trucks of all types and sizes. Over the years of our operation, we’ve been able to deal with different clients who have different trucks yet want the same goal; to be insured against any damages or injuries that may result from semi-truck accidents.