Commercial Trucking Insurance 101

Every trucking journey presents unique challenges, emphasizing the vital role of commercial trucking insurance. Marquee Insurance Group (MIG), DAT's trusted partner, provides tailored coverage and claims support for carriers and owner-operators. With over 100 years of collective industry experience, MIG offers A-rated insurance markets and streamlined processes, ensuring peace of mind on the road.

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Every trucking journey presents unique challenges. When running a carrier or owner-operator business, it’s crucial not only to have the necessary equipment to haul your loads but also to take measures to keep those assets—and yourself—safe.

Commercial trucking insurance is not just a regulatory requirement, it’s also an investment to protect your equipment, load, cargo, and yourself against a range of possible occurrences. Trucking insurance coverage is also an essential safety net against unforeseen expenses so they don’t become obstacles to your business’s success and growth.

Who is Marquee Insurance Group?

Marquee Insurance Group (MIG), DAT’s trusted insurance partner, is a leader in the commercial trucking insurance industry. Boasting over 100 years of collective experience in transportation and risk management, MIG is uniquely positioned to support carriers, owner-operators, and the transportation industry. Specializing solely in trucking, MIG offers a dedicated team of industry specialists, including claims support and account managers. With A-rated insurance markets, preferred status with national providers, and a streamlined quoting process, MIG helps provide tailored coverage for trucking businesses of all sizes.

Additionally, MIG leverages technology to ensure a hassle-free experience, offering on-demand certificates and policy information. Recent additions, such as the National Truck Protection Plan and discounted safety packages, emphasize MIG’s commitment to delivering value and comprehensive solutions. Their track record shows a dedicated commitment to helping carriers navigate challenges, minimize costs, and secure reliable coverage.

What is commercial trucking insurance?

Commercial trucking insurance refers to a set of insurance policies designed to protect your trucking business from financial risks associated with accidents, liabilities, and cargo damage.

Unlike other commercial auto insurance, insurance for trucks is a specialized coverage offered to trucking businesses, companies that use trucks, or independent truck drivers to protect large vehicles used in shipping and transportation. In the event of an accident or unexpected challenge that happens on the road, commercial trucking insurance can protect your equipment, cargo, and yourself.

Why is it essential for carriers?

According to the CDC, more than 1 in 3 long-haul truck drivers experience a serious crash during their career. For truckers, carriers, and owner-operators, insurance isn’t just a requirement; it’s a lifeline ensuring that you and your equipment stay safe. It also safeguards your business’s financial resilience in the face of challenges.

Without the proper insurance, your truck can’t hit the road. Most trucking companies are legally required to carry commercial trucking insurance for liability. You will likely want to add protection against damage, theft, and maintenance to ensure your financial security and peace of mind.

Types of coverage

Liability insurance

Liability insurance is the backbone of commercial trucking coverage and is essential for legal compliance and financial protection. Primary auto liability covers injuries to other drivers and vehicles, as well as damage to public property. State and federal agencies require a minimum of $750,000 in liability coverage, but most brokers will require you to carry at least $1 million in coverage. Liability insurance safeguards your financial stability in the case of accidents on the road.

Marquee Insurance Group offers liability protection that includes coverage against uninsured and underinsured motorists, no-deductible medical payments, and additional insured options.

Physical damage coverage

Physical damage insurance is coverage for your truck and trailer. This insurance for commercial trucks can be broken down further into comprehensive and collision insurance.

Collision insurance steps in when your equipment sustains damage in an accident. It refers to insurance that covers physical damage to your vehicle. Comprehensive insurance protects against non-collision damage, including vandalism, fire, theft, and natural disasters like floods or earthquakes.

Essentially, physical damage coverage is insurance for trucks and trailers, protecting your valuable assets. Some insurance agencies, like MIG, offer other kinds of coverage under physical damage, including towing & storage, non-owned trailer coverage, and loss payee.

Cargo insurance

Cargo insurance safeguards the goods you transport. It protects carriers, owner-operators, and other transporters from liability for damaged or lost freight. It also assures shippers and freight brokers that your commitment to delivering goods safely is backed by your coverage.

This kind of insurance breaks down into motor truck cargo, which offers broader coverage for ongoing operations, and per shipment cargo, which is especially useful to ensure additional financial protection for a high-value shipment.

The best commercial truck insurance companies offer cargo insurance that safeguards against losses, theft, mishandling, or accidental damage to hauled loads.

Additional coverage options

Depending on how you use your truck or trailer, you may want to look into additional coverage options that go beyond the essentials.

Non-trucking liability insurance, for example, provides coverage when you drive your business truck for personal use. Trailer interchange is another policy that provides physical damage insurance for a trailer you don’t own but are pulling under a trailer interchange agreement.

If you’re worried about unintentionally creating gaps in your insurance coverage like these, MIG’s team of professionals is happy to talk you through tailored solutions that will ensure your business has a proper safety net.

Why choose commercial trucking insurance?

Risk management
The road is unpredictable, and accidents happen. Commercial trucking insurance is your proactive measure to both ensure that you and your assets are protected and to mitigate the financial fallout of unforeseen events. It’s about not only fixing damages but also ensuring financial security and business continuity in challenging times.

Beyond the tangible aspects of coverage, commercial trucking insurance brings you peace of mind. When you find the best commercial truck insurance for your business, you’ll enjoy the confidence of knowing that your assets are protected and your business has a safety net for the twists and turns of the road.

Legal compliance
In commercial trucking, no insurance means no authority. State and federal authorities set commercial trucking insurance regulations that you’ll have to comply with, from minimum liability limits to higher coverage required for special operations.

The exact coverages you’ll need depend on your vehicle type and what it carries. If you transport hazardous materials or high-value goods, for example, you’ll need to carry higher levels of insurance.

Worried about what coverage you’ll need to operate within the bounds of the law? Avoid penalties and fines and ensure your business continuity by working with MIG’s team of specialists to identify the policies that your operation needs.

The advantages of choosing Marquee Insurance Group

Customized insurance solutions
One size doesn’t fit all in the trucking industry. Marquee Insurance Group recognizes this and offers tailored coverage plans to meet the specific needs of your business. Enjoy flexibility in policy options through their partnerships with industry-leading commercial truck insurance companies. Finding the best commercial truck insurance for your operation is about more than checkboxes; it’s about working with an insurance provider that will craft a personalized plan and find you commercial truck insurance quotes that align with your budget and the nuances of your operations.

Expertise in the trucking industry
The trucking industry faces unique challenges that demand a specialized approach to insurance. Because the commercial trucking industry is rife with challenges and risks, MIG doesn’t just provide insurance; it offers expertise. With 100+ years of collective experience within the transportation and risk management industry, MIG’s dedicated team represents an in-depth understanding of truckers’ unique insurance needs.

Choose an insurance partner for your operations that understands the intricacies of the industry. MIG is positioned to guide trucking companies of any size through various safety measures and risk mitigation techniques.

Competitive pricing and value
Budget constraints are a reality, but compromising on coverage doesn’t have to be. MIG understands this delicate balance and offers cost-effective insurance solutions for every stage of your growing trucking business.

MIG ensures that you get the most out of your insurance investment, providing a balance between cost-effectiveness and coverage. Opt for MIG to maximize the value of your commercial trucking insurance without compromising on the breadth and depth of coverage.

Superior customer service
To find the best commercial truck insurance, look for more than just a policy—you want a trusted business relationship. MIG’s responsive support team is ready to address your questions and concerns throughout your policy term.

When the unexpected happens, MIG stands by your side. From claims support specialists to renewal representatives and account managers, MIG provides a dedicated support system. Their team of specialists understands the trucking industry and shares the goal of setting your company on the road to success.

Exclusive Offerings

As you consider securing your business with Marquee Insurance Group, explore the exclusive offerings that set MIG apart:

MarqueeHEALTH
Health benefits play a crucial role in attracting and retaining your trucking workforce. Through MarqueeHEALTH, MIG provides low-cost healthcare benefit plans. With MIG, you can secure both commercial trucking insurance and holistic coverage that prioritizes the well-being of your workforce.

MIG’s Preferred National Truck Protection Plan
One unexpected major equipment failure could cost your business thousands in out-of-pocket repairs. MIG’s Preferred National Truck Protection Plan is a proactive solution that is both affordable and easy to implement. Safeguard your business and truck for less than $45 per week!

Your journey to reliable commercial trucking insurance begins here with Marquee Insurance Group

As you navigate the complex landscape of commercial trucking insurance, the most important choice you can make is finding a reliable partner. Marquee Insurance Group offers not just insurance but a comprehensive suite of solutions crafted with the intricacies of the trucking industry in mind.

Your journey to reliable and thorough commercial trucking insurance begins now. Secure your business, navigate the roads safely, and drive toward a future where your success is protected. Contact MIG’s dedicated service team today to invest in your security.

Marquee Insurance Group

DAT’s commercial insurance partner

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