Author Insurance Trucking Expert

Every day, people go online and request a truck insurance quote. It’s easy to get one, especially with so many insurers adding more features to their websites.

Accuracy is essential when asking for a truck insurance quote. This expense is necessary to stay legal and to protect your business in the event of an accident. You have to pay it, but you shouldn’t have to overspend for coverage that you don’t need.

Other issues can arise if you find out you are underinsured. You may not pay as much in premiums, but you could face steep financial and legal setbacks if something happens. You may not have enough to recover financially. You could also incur fines if you fail to meet legal insurance minimums to operate.

It all comes down to choosing a company that will give you an accurate truck insurance quote and provides reliable coverage that keeps you protected.

What Determines the Cost of Your Truck Insurance?

You will have to supply several pieces of information when asking for a truck insurance quote. That’s because your policy will likely vary from that of other businesses, even if you offer similar services. Multiple factors are applied when calculating rates, including the following.

• Types of Vehicles and Purpose

Your insurer will want to know what type of vehicle you or your employees drive as well as their intended purpose. This is a big part of cost calculation. 

Trucks, trailers, and tractors are heavier, more expensive vehicles. They have the potential to cause greater damage compared to a small passenger car or van. They also require more skill to navigate in certain areas. These will come at a higher cost to insure.

There are three basic categories used to identify the purpose of your vehicles. The first is retail use, which describes trucks used to make deliveries to residences. Next is service use, which refers to trucks that transport materials to worksites. The last is commercial use, which is a general classification that covers all other uses other than retail and service.

• Your Territory and Location

You don’t have to drive a large commercial vehicle to know that different areas require different driving skills to navigate. Traveling along a quiet country road feels different than trying to maneuver through a busy city street. That’s why your location and service territory will also come into play when requesting a truck insurance quote.

Verisk, previously known as the Insurance Services Office (ISO), has assigned ratings to different regions and states. These can differ by terrain with ratings for coastal regions, landlocked regions, rural areas, and metropolitan spaces. You should consult your insurance company to find out how your area is rated.

• History and Number of Drivers

A truck insurance quote form will most likely ask how many people will be permitted to drive your trucks. Their driving history will be evaluated because it can help an insurance provider gauge risk. More drivers with more accidents will cost more to insure.

If you aren’t already, you should be recording the driver’s license numbers of everyone who operates your vehicles. DMV.org states that this is the responsibility of the business to ensure that you have proper records in case of an incident on the road or an insurance request.

Hiring safe drivers and keeping accident numbers as low as possible will lower your truck insurance quote.

• Your Credit Score

Even though your credit score isn’t used when you or your drivers are behind the wheel, it will affect your truck insurance quote. Insurers use this information to determine how likely you are to file a claim.

The Insurance Information Institute outlines many factors that are reviewed when coming up with a credit-based insurance score. These factors include outstanding debt, accounts in collections, bankruptcies, payment history, and the length of your credit history.

Businesses that make payments on time and avoid problems with collections are usually eligible for lower insurance premiums.

Compare the Truck Insurance Quote to Your Existing Insurance

If you have an existing policy or had one in the recent past, the easiest way to check your truck insurance quote is to compare it to your past coverage. You can do this by reviewing your declarations page. Also known as a Dec Page, this document lists the types of coverage included. 

If you’re new to trucking insurance, you can use the Dec Page for your personal coverage as evidence that you maintained continuous coverage and stayed in good standing with payments.

How to Get an Accurate Online Truck Insurance Quote?

The first step in getting an online truck insurance quote is to make sure that you provide the right details. The quote will only be as accurate as the information that you submit. Internet-based tools do a pretty good job these days as long as you take your time and answer truthfully.

If you need a truck insurance quote or have questions about one, let us know. InsureTrucking.com is available to help you find the lowest rates that will keep you legal and protected.

How Do I Find the Best Dump Truck Insurance?

If you work in construction, then you need to find the best dump truck insurance. Heavy equipment and vehicles are very expensive to buy. It’s an important investment for your company – and one that you want to protect. Insurance does that and more.

What happens when you or one of your employees is in an accident? Someone will have to pay for damages, injuries, and other related expenses. These can quickly skyrocket based on the severity of the incident. The vehicle itself is only part of the equation. There is also the cost of medical expenses for all people involved as well as damages to other vehicles and property.

The bottom line is that you cannot afford to not have good dump truck insurance. It doesn’t just cover the cost of your investment. It also protects you and your business from financial ruin in case of an accident. InsureTrucking.com wants to shed light on what makes an insurance policy a good one.

What Should Your Dump Truck Insurance Cover?

The best dump truck insurance should cover several areas. Make sure your policy includes all of these in adequate amounts to keep you legal and to protect you in case of an accident. 

• Auto Liability Insurance – Every dump truck insurance policy should include auto liability. This covers the costs incurred by the other driver after an accident. If you are on the job and at fault, auto liability will kick in. 

Your policy should include bodily injury coverage to pay for the other driver’s medical expenses as well as pain and suffering. It should also include property damage coverage that pays for the vehicle or property of the other driver. Even the best drivers can be at fault in an accident, so make sure you are protected every time you operate your dump truck.

• Physical Damage Insurance – If your vehicle is damaged in an accident, it could be out of commission until you can fork out thousands to pay for repairs. If you have physical damage coverage in your dump truck insurance policy, then you should be able to get it up and running much faster. 

This type of coverage will pay for physical damage to your vehicle after an accident. Collision will repair your truck after a wreck. If you have comprehensive coverage, then it will also pay out if your truck is damaged due to vandalism, theft, wildlife, falling objects, or fire.

• Cargo Insurance – The cargo you haul holds value. If you are in an accident and lose your load, you could face steep financial losses. You could be responsible for compensating the client for their missing materials. Cargo insurance protects you in this instance. It can also be used to pay for lost cargo that is stolen or damaged in a fire. Talk to your insurance provider to ensure that all these examples are covered in your policy.
• Non-Trucking Liability Insurance – Non-trucking liability insurance is meant to provide coverage when you aren’t on duty. This will pay for an accident that happens when using your dump truck for personal jobs or when you are off the clock. It makes sure your legal obligation to the other driver is covered.
• Pollution Insurance – Dump trucks are designed to carry large quantities of materials. When an accident happens, those materials can end up polluting the environment. This can lead to penalties and clean up fees for you.

Pollution insurance covers this type of situation. For example, if you are hauling a load that ends up in a roadside creek after an accident, your insurance will pay to clean it up.

• General Liability Insurance – General liability insurance sounds like an extra, but it’s important for your business. This coverage will pay for damages or injuries that are not related to your dump truck. For example, if a customer visits your facility and has a bad fall, they could sue you. Your general liability will kick in to provide coverage for this type of situation. 

Make sure you know what is or isn’t covered. Some policies include coverage for financial hardship caused by libel, slander, or a load that was delivered to the wrong location.

Budgeting for Your Dump Truck Insurance Premiums

The best way to save money is to make sure you always have an active dump truck insurance policy. The financial cost is much higher if you are in an accident or get pulled over while driving uninsured.

If you have a tight budget, there are a few things you can do to lower your dump truck insurance rates.

• Consider Reducing Limits – You may be able to reduce the limits of your policy and agree to pay a higher deductible to lower your insurance rates. The limits define the maximum amount your policy will pay out in an accident. Make sure you consider the financial effects this could have if you are in an accident before agreeing to lower insurance limits.
• Bundle Coverage for Cheaper Rates – Some insurance providers let you bundle coverages for a better rate. You may choose multiple coverages for an individual truck. If you have a fleet, consider getting an insurance quote for all your vehicles to take advantage of quantity discounts.
• Ask About Available Discounts – Ask your insurance provider if they offer other discounts. Some may provide additional savings for veterans, experienced drivers, safe drivers, business owners, and CDL-certified drivers. You may also get a small discount for signing up for electronic payments.
• Request Seasonal Coverage – Some companies only operate their vehicles for part of the year. Your dump truck insurance provider may offer seasonal coverage. This type of policy will remove certain types of coverage during the winter months. It is meant to provide a minimum level of protection during months when your truck won’t be used.

How Much Will Dump Truck Insurance Cost You?

It is impossible to provide an accurate dump truck insurance quote without specific details. Several factors will influence your rates, including the value of your vehicle(s), where you live, how far you drive, your driving record, and the value of your cargo. You can visit InsureTrucking.com or call us at 866-307-5480 for a free dump truck insurance quote.

Dump truck insurance is necessary if you own this type of vehicle. Any truck that is driven on the road must be insured. It’s a legal requirement that will also financially protect you should the unexpected occur.

Consider the amount of money you invested into your dump truck or the amount you will invest when you buy one. The vehicle itself can cost between $100,000 and $150,000 to buy new. Used models can fall between $15,000 and $100,000, depending on model, age, and condition.

Then there are the thousands of dollars you may have to put into maintenance over the life of the truck. Newer models may come with warranties, but eventually, the cost will fall to the owner. Tires alone can cost upwards of $1,000 each.

The estimated cost of the average dump truck is over $100,000 with more than $700,000 in related expenses over a seven-year lifespan.

The cost will vary, but it’s easy to see how an initial purchase and basic care and maintenance can quickly add up. This is an investment that you will want to protect with dump truck insurance.

Dump Truck Insurance and Accidents

Dump truck insurance also helps protect owners from financial ruin after an accident. This type of vehicle shares the road with smaller passenger cars and trucks. They are used to transport loose material, haul garbage, or dispose of hazardous waste. All three of these come with added risk while the vehicle is in motion.

Their weight and size alone is a threat to other people on the road. Dump trucks are primarily designed to be driven around job sites, which means they are not usually built with regular street driving in mind. When a dump truck is involved, an accident is more likely to be catastrophic.

Even an experienced licensed driver can wind up in an unexpected situation. You need to know that your dump truck insurance will be enough to cover damage to your property as well as the property of a third party and medical expenses if needed.

The U.S. Department of Transportation reported that an average of 500,000 truck accidents happen on highways and roads across the country each year. Approximately 75% of those are caused by smaller passenger vehicles.

The Bureau of Labor and Statistics found that there is an average of one dump truck-related fatality per week in the U.S. You need to be prepared before you or an employee takes your truck onto the road.

What Dump Truck Insurance Do I Need?

Dump truck insurance falls under the general commercial vehicle category. You must have enough liability coverage to drive legally.

A basic commercial dump truck insurance policy will give you the mandatory coverage needed to drive. This will include minimum bodily injury and property damage liability amounts based on your state’s laws.

Meeting your legal obligation is the first thing you should do. However, it may not be enough if you truly want to be protected in case of a dump truck accident claim. You should consider adding the following to your policy to fully protect your investment.

• Motor Truck Liability Insurance – Motor truck liability will protect you in case your vehicle causes damage to a customer’s property.
• Motor Truck Cargo Insurance – Cargo insurance covers the materials that your truck hauls. This may be required to operate legally.
• Physical Damage Coverage – Physical damage coverage will pay for damage to your dump truck. This is usually required when leasing from a dealership.
• Collision Insurance – Collision coverage will pay to repair damage to your truck if you collide with an object or another vehicle.
• Downtime and Rental Reimbursement – This coverage provides funds to continue business operations while your dump truck is being repaired after an accident. It will also cover commercial losses if you cannot continue to operate.
• Environmental Insurance – Pollution coverage will pay for fines, clean-up, and other expenses related to pollution caused by your vehicle.
• Off-Season Comprehensive Insurance – If you operate seasonally, then off-season comprehensive insurance will cover your vehicle when it is not in use. You have financial protection and pay less when you aren’t driving.

How Much Will I Pay for Dump Truck Insurance?

The amount you will have to pay to keep dump truck insurance will vary. It’s impossible to provide an exact amount without requesting an Insure Trucking quote. However, you should be aware of several factors that will impact the average cost of coverage. These include:

• Where you are located and operating from
• You or your driver’s motor vehicle report (MVR)
• Any past claims or losses incurred from driving
• Any past speeding tickets or accidents on record
• Your operating radius
• The make, model, and year of the truck
• The number of vehicles in your fleet
• Your business’ years in operation

Anyone who owns a dump truck wants to get the best insurance coverage for the lowest rate. There are a few things you can do to help keep your costs low. One is through a proactive workplace safety program.

Have safety policies in place to reduce the risk of accidents in or around the vehicle. You should conduct regular safety meetings. Business owners should also have a thorough vetting process in place when hiring new drivers.

Make a pre-trip inspection mandatory every time the dump truck is used.

These steps will lower the risk of an accident. Fewer accidents and claims mean that your dump truck insurance rates will stay as low as possible.

How Do I Get a Dump Truck Insurance Quote?

You should request a dump truck insurance quote before you buy or drive the vehicle. Getting one is easy. Visit InsureTrucking.com and click our “Get a Quote Now” button. Answer the questions provided and we will email or call you with your personalized quote.

You can also call us at 866-307-5480 to speak to an insurance agent. Let us help you find affordable dump truck insurance that will protect you, your drivers, and your business.

Do I Need Truckers Insurance?

Truckers insurance is a necessity when you own or drive a truck. On a good day, you should not need to use your coverage. It may seem like an extra expense in an industry that already has so many costs associated with it. However, don’t overlook this essential resource. Truckers insurance will suddenly become very, very important if you or one of your employees are ever in an accident.

Situations can change. When this happens, you may wonder if you really need to buy truckers insurance or continue coverage that you already have. It’s important to understand the consequences that come with not having the right level of coverage.

Is Truckers Insurance Right for Drivers with a Good Record?

If you have a clean driving record and have never been in an accident, that’s good news! However, that doesn’t mean you should skip truckers insurance. You may be cautious, but you never know what you may encounter while on the road.

Being in an accident without truckers insurance can have severe consequences. If you are at fault, then you will likely have to provide compensation for injuries and damages. That means paying out of pocket if you don’t have a valid policy.

Federal law requires truck drivers to have a minimum level of coverage. All trucking companies must have at least $300,000 in public liability insurance for freight moved in trucks that weigh up to 10,000 pounds. Coverage of $750,000 to $5,000,000 is required for tractor-trailers. Cargo insurance is also needed when transporting household goods.

Make sure you stay legal and protected in case the unexpected happens.

Do I Need Truckers Insurance if My Truck Is Parked?

If you become injured or ill, you may not be able to work. That means your truck will remain parked for an extended time. It seems wasteful to pay for truckers insurance if you aren’t driving, especially when your finances may be limited due to a loss of income.

You may be able to cancel some or all your coverage, as long as you won’t be driving. However, keep in mind that if your vehicle has a lienholder, this could cause problems for you. The lienholder may require you to keep your coverage to protect their financial interest in your truck.

You will still be responsible for any damage that occurs while the truck is parked. Weather damage from hail or wind could lead to costly repairs. Theft, vandalism, and even fire can also pose an expensive threat if you don’t have truckers insurance to pay for it.

If you have questions or are struggling to keep up with payments, contact Insure Trucking. We can discuss your options to find a solution that works for your business.

Is Truckers Insurance Needed if Someone Else Drives?

There is a misconception about employee drivers. Some people believe that any employee is covered when driving a truck for the business. The truth is that the policy will determine who is covered and who is not.

Some insurers only cover drivers who are named on the policy. Others use something called permissive use. That means that the driver is covered as long as the owner has given permission for them to use the vehicle.

Even if the owner decides to leave the driving up to their employees, truckers insurance is still required. Make sure you know how your policy works to ensure that you are covered in case of an accident.

What If My Trucks Are Used Seasonally?

Some businesses only operate for part of the year. Their trucks are put into storage during the off season. This is another situation where it may seem wasteful to pay for coverage you know you aren’t using.

Insure Trucking can discuss your coverage needs and determine if comprehensive-only truckers insurance is a better option while your business is closed. Comprehensive means that damage caused by something other than a collision is covered. This could be broken glass, fire, vandalism, theft, or wind.

Remember that comprehensive-only truckers insurance will not protect you if you are driving the vehicle. You must ensure that adequate coverage is added before your trucks are back on the road during the working season.

Which Truckers Insurance is Right for Me?

The right truckers insurance for you is based on your circumstances and business needs.

Your truck is an investment in your future. It represents your livelihood. That’s why you should always carry insurance to protect it. The level of coverage needed may vary, but it’s usually best to avoid a lapse.

Insure Trucking covers everything from big rigs and dump trucks to long and local haul trucks and more. Instant certificates and online policy services are available to current customers. New customers are welcome to contact our team for a quote. You can get started by dialing 866-307-5480 or by visiting our website and clicking the “Get a Quote Now” button.

You can protect your vehicle and save money with the right truckers insurance. Contact Insure Trucking now to find out how to get fast quotes and coverage that meets your driving needs.