FAQ

FAQ

Frequently Asked Questions About Trucking Insurance

How long after my insurance is filed with the FMCSA will it take for my authority to become active?

Once your insurance is filed with the FMCSA, you will have to wait for 20 to 25 days for your authority to automatically become active provided all other requirements are met.

Do you insure Hotshots?

Yes, however, it is a tougher class of trucking to cover.   We have limited markets available for Hotshot trucking operations.

How much liability coverage do I need for my interstate trucking company?

The FMCSA requires a minimum of $750,000 in liability coverage, however, most shippers and brokers will require you to have $1,000,000 in liability coverage.  Outside of what is required by shippers and brokers, the amount of liability coverage you purchase should also be determined by the amount of risk your company is exposed while operating.  Hazmat haulers and a few other operations may require excess liability limits.

How much will I have to pay for insurance if I’m new to trucking?

This is always a tough question to answer without underwriting the risk first.  There are many variables that will be considered when rating a trucking company including the driver’s driving record, garaging location, type of truck(s), credit, etc.  You can expect for your premium to higher than an established trucking company with great safety records, clean driving record’s, no losses, etc. 

Do you offer Bobtail coverage?

We do, however, since our primary focus is trucking companies running under their own authority, we have limited markets for Bobtail coverage. 

Do you offer monoline/standalone Motor Truck Cargo coverage and/or Physical Damage coverage?

We do, however, since our primary focus is trucking companies running under their own authority, we normally offer these coverages as a package with liability coverage.  Our markets are limited for monoline/standalone Motor Truck Cargo and Physical Damage coverage.

How long does it take to receive a quote from your agency?

We shop our quotes through many different insurance companies in an effort to find the best policy for our prospective clients.  Each company has their own turnaround time on quote request, and we work closely with them to ensure we receive quotes back in a timely manner.  We can quote some companies in-house which allows us a same day turnaround, however, the first quote you receive may not be the most competitive quote.  We stay in touch with our prospective clients during the quoting process to make sure they are aware of the status of their request.

How many years of CDL experience does a driver need to have?

Most insurance companies will require each driver to have at least 2 years of CDL experience.  Drivers with 1 year of CDL experience can be considered, however, limited insurance markets are available, and the cost is generally higher than those with 2 or more years of CDL experience.

Is Progressive the best insurance company for trucking?

Progressive is certainly one of the more popular trucking insurance companies, however, there are many more available depending on the characteristics of your trucking company.