Commercial Truck Insurance Prices

There is an abundance of factors that can influence the price of Commercial Auto insurance that the insurance companies will consider.

• Drivers - The driving records of all of your employees, and yourself will be considered.

• Experience - The length of time you have been in business, or how long you have been in the industry.

• What you are hauling and where - Valuable cargo such as automobiles will certainly cost more to insure than paper cups. Transporting within the suburbs may be less risky than a city. The distance of your hauls will also be considered.

• Types of trucks - Just like Personal Auto insurance, Commercial Auto insurance will take into account the type of truck that is being insured.

• Coverage amount - Certainly the higher the coverage amounts you need the more premium you will pay, which ties back into what you are hauling. Also, some contracts may require to carry more than the $750,000 federally mandated Trucking Liability limit.

• Your policies - If you are an owner-operator with no employees you will most likely pay less for insurance as you will need fewer policies.

As a business owner, you will want to reap as many profits as possible and one way to do so is to reduce costs. Stay on top of your insurance costs by being aware of the following:

Accidents and violations - Make sure the employees you hire have clean driving records. Run their MVR before you make an offer of employment and if any employees get violations while on the job, have a disciplinary plan in place. It is also important that you have a good driving record, even if you no longer do the hauls. The insurance company will still consider you a driver as the owner of the company.

Radius - The amount of driving you or your employees do will impact the price because the more you are on the road the higher the chance of an accident. To save money you can cut down on the distances you are driving. This will be especially helpful if you are new in the business with limited experience. You can expand after a few years.

Trucks - Be aware of the value of the trucks you are planning to purchase as the higher the value, the more the insurance will be. It might be a good idea to start out with an older style truck that may have a lower value until you get up and running. You can invest in a new truck when you have profits rolling in.

Claims - If you do end up having an accident, if it is something small like a dent, if you can fix it yourself it might be a good idea. Turning in a lot of small claims can cause your premiums to go up. Usually, the insurance company will take into consideration the frequency of claims, and of course severity. So, only try to turn in claims that are larger and happen less frequently if you are able to.

Bobtail insurance costs will vary greatly. Monthly insurance costs can range from $29-$99 a month and $348-$1,188 a year.

Here are some average prices that you can expect to pay for box truck insurance per month:

• Commercial insurance for box truck: $416.66
• General liability policy: $25
• Cargo insurance: $145.83
• Physical damage coverage: $191.66
• Workers' compensation: $250

Note: These are average insurance premiums taken from customer data over a two year period and will vary depending on the cutomser’s business. They should not be taken as a definitive cost proposal.

Here we’ve broken down all the figures that we just went over on a monthly basis for the average Monthly Cost of Hot Shot Trucking Insurance:

• Primary Liability Insurance for Trucking: $434
• Non-Trucking Liability Insurance: $45
• Truck Cargo Insurance: $129
• Physical Damage Insurance for Trucking: $208

Note: These are average insurance premiums taken from customer data over a two year period and will vary depending on the cutomser’s business. They should not be taken as a definitive cost proposal.

• Hot Shot Trucking Insurance Cost
• Box Truck Insurance Cost
• Bobtail Insurance Cost
• Owner Operator Insurance Cost

• Trucker Insurance
• Box Truck Insurance
• Bobtail Insurance
• Hot Shot Truck Insurance
• Motor Truck Cargo Insurance
• Refrigerated Truck Insurance
• Semi Truck Insurance
• Car Hauler Insurance
• Dump Truck Insurance
• Flatbed Truck Insurance
• General Liability for Truckers
• Owner Operator Insurance
• Log Truck Insurance
• Non-Trucking Liability Insurance
• Trailer Interchange Insurance
• Commercial Trailer Insurance
• Truck Driver Insurance
• Long Haul Trucking Insurance