What type of insurance do I need for my commercial trucks?

What kind of insurance should I get for my trucking company? I have a fleet of four commercial delivery trucks and want to start a trucking company of my own. How can I make sure I have enough coverage?

“One of the first things you should do is understand all state and federal government regulations for your new business venture. The DAT Authority and the U.S. Small Business Administration will have most of the information you need about safety, fuel use, taxes, compliance, and insurance.
Several types of insurance could be applicable for a trucking company, such as:
  • Liability
  • Cargo
  • Physical Damage
  • Non-trucking use
The amounts of coverage can depend on what you plan on hauling. It can be anything from mail parcels, food delivery, or furniture. $100,000 in insurance is the standard limit.
The most popular choices for liability coverage are $750,000 or $1 million. Commercial companies are a big target for liability claims, so the more coverage you can have there, the better!
Since you are new in this line of work, work closely with an insurance agent to ensure that your insurance provides adequate coverage.
If you want help navigating the different commercial policies on the market, try the Jerry app. Jerry compares rates from the top companies and delivers the best deals to your phone in minutes.”
Shannon Martin
Answered on Aug 27, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.

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