TRUCKING INSURANCE 101

Trucking Insurance 101

Insurance is a vital part of your business and your relationship with your insurance agent is critical. We believe communication is key and we never want you to miss a load waiting on a certificate of insurance. Here at Truck Team Insurance we specialize in coverage for:

Dry Van
Reefer
Flatbed
Auto Hauling
Hotshots
Steel Hauling
General Freight
Dirt, Sand, & Gravel

Most companies you haul for will require your business to carry $1,000,000 CSL auto liability and $100,000 in cargo. Make sure you have the right coverage so you never lose a job. Always request your insurance requirements from any company you will be hauling for prior to shopping insurance. If you are going up on the load board, carry the most common coverage which is $1,000,000 CSL auto liability and $100,000 cargo.

Business Type

Your policy needs to be written for your specific type of business such as General Freight, Auto Hauling, Steel Hauling, Logging, Towing, Hazmat, Hotshots, Dirt, Sand, & Gravel, etc.

Mile Radius

This is very important! If you plan on crossing state lines, the most common is unlimited miles. Unlimited miles means you can haul in any of the 48 states in America and you are covered. Local hauling usually can be anywhere from 100-300 mile radius depending on the state.

Auto Liability

Minimum coverage is $750,000 with the FMCSA, however you will want to carry $1,000,000 CSL which is required by most companies you will be hauling for. Hazmat hauling may ask for an additional umbrella on top of the $1,000,000 CSL. Liability is intended to cover the expenses you are financially responsible for if you injure someone else or their property.

Physical Damage

Physical damage is also known as Comp & Collision. This protects your vehicle & trailer. If you own your vehicle you can choose whether you want this coverage or not. We always recommend to have this coverage because at the end of the day your truck is what makes you money. If you owe money on your truck or trailer, you are required to have this coverage. Your finance company will request a certificate of insurance showing that the vehicle or trailer is covered.

Cargo

Most companies you haul for will require you to carry a minimum of $100,000 on cargo. If you are hauling more expensive cargo such as new cars, expensive construction equipment, etc, they may require you to carry more. This covers the cargo you are hauling.

Refrigeration Breakdown

Also known as "Reefer Breakdown" and is needed if you are hauling refrigerated goods. This coverage should always match your cargo limit. For example, you are carrying $100,000 in cargo, the reefer breakdown would be covered for $100,000 as well.

Trailer Interchange or Non-Owned Trailer

Are you running with a power unit only and doing drop & hook? If so, you will need Trailer Interchange or Non-Owned Trailer Physical Damage. This means the trailer you hook up to is covered up to value of coverage.

General Liability

This is very common in the Dirt, Sand, & Gravel business. Most common coverage is $1,000,000 per occurrence and $2,000,000 aggregate. Insurance carriers will also offer this coverage at $1,000,000 per occurrence and $1,000,000 aggregate. It's best to talk to the company you are hauling for and ask them for their requirements to make sure you have the proper coverage.

Bobtail

This is very common when you are leased on with a company. Most companies will want you to have physical damage on your vehicle and non-trucking liability.

Umbrella

This is excess liability coverage that goes above and beyond your underlying policy limits, when needed. It is commonly required in the hazmat business.

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TRUCK TEAM INSURANCE

830 S I-35 E
Denton, TX 76205