If you’re thinking about starting up a transportation company, then understand that one of your biggest expenses in the industry will be truck insurance. Most importantly, don’t skimp out on understanding what coverage is available to you.
Our agency has helped numerous truckers navigate starting their business and we have personal experience in the industry. We are going to share what you need before you can buy truck insurance, coverage options, how you can receive exclusive discounts and savings, and how you can shop coverage now.
Prior to Buying Truck Insurance
Before you can buy truck insurance, first figure out what it is that you want to haul and determine what you’re going to do in terms of equipment. Secondly, you’ll need to file for your Department of Transportation (DOT) number and legally establish your company. Lastly, purchase necessary licenses and permits.
After that, document and organize all your business information. Be sure to have it with you when it comes time to buy truck insurance. Once you buy the truck insurance, your authority will be activated if all other non-insurance related responsibilities are complete.
Filing for a DOT number tends to bring in a lot of questions to our office. We are readily available to help you with questions regarding how you can obtain a DOT number and what the process is like. Since we have been through the process ourselves, it’s an added benefit to doing business with our independent insurance agency.
Insurance Options for Trucking Companies
When buying truck insurance, it’s extremely important that you find an agent who will help you understand all coverage available to you.
Insurance Policies Applicable to Trucking Companies:
- Commercial Auto (Truck Insurance)
- General Liability
- Excess Liability
- Workers Compensation
A lot of the people you do business with will require you to have certain types of policies, and certain coverage limits on those policies.
Commercial Auto insurance is required, and necessary, for trucking companies. You must maintain a certain liability limit to comply with your DOT guidelines. In addition, based on the type of work you do and the distances covered, you will be instructed on your minimum liability limit.
Truck Insurance Coverage Options:
- Liability (Combined Single Limit or Split Limit)
- Uninsured Motorist Bodily Injury and Property Damage
- Personal Injury Protection
- Comprehensive and Collision
- Customized Equipment
- Motor Truck Cargo (with Progressive)
- Non-Trucking Liability (with Progressive)
- Rental Reimbursement with Downtime (with Progressive)
- Trailer Interchange (with Progressive)
There are many unique coverage options for truck insurance policies. In other words, not all coverage options are required but they should still be considered.
The #1 Truck Insurance Company
From their exclusive discounts to their customized truck coverage, it’s fair to compare Progressive as the Rolls Royce of trucking insurance. Further, consumeradvocate.org mentions Progressive as a “very attractive option,” when it comes to truck insurance, based on their reviews and extensive research in the field.
Deemed the #1 truck insurer in America, if you can qualify, it’s best to do whatever you can to stay insured with them. With turnaround times for filings at an astonishing 48 hours, you’ll be up and running in no time.
Progressive will help you with your filings and they also specialize in heavy truck claims. Moreover, all their adjusters are in-house and will handle your claim from start to finish.
Furthermore, our agency will help you find the best coverage available to you and be there when you need us. We will thoroughly explain your coverage and happily give advice when you seek it.
Cost of Commercial Insurance
Your commercial insurance rate will be completely unique to you and your situation. For instance, many factors determine your premium. Premium factors include, but are not limited to, coverage requirements, operating radius, driving history, cargo, vehicle type, and USDOT authority.
Progressive offers unique savings opportunities like the Business Experience Discount, Commercial Drivers License (CDL) Discount, and the Smart Haul® Program. Even better, you receive a discount if you insure your personal vehicles with Progressive.
How To Shop Coverage Now
Get in touch with our independent insurance agency to receive a personalized Progressive Commercial Auto quote today. Don’t worry, if you don’t qualify for Progressive, we have many other options to help serve you.