Log Truck Insurance

1. Trucking Primary Liability Insurance

In case of an accident, this covers medical bills and repairs to other people’s property and your legal defense expenses. You must purchase liability coverage to keep your truck legally on the road.

2. Trucking Physical Damage Insurance

In an accident, this will pay for the cost of fixing or replacing your trailer and truck. This coverage also includes theft and natural calamities.

3. Cargo Insurance

If your load of logs is damaged in transit, you will be compensated under this policy. A log truck’s cargo insurance costs vary depending on the value of the logs.

4. Workers’ Comp Insurance for Truckers

Suppose you own a log hauling business and employ drivers regularly. They need access to workers’ compensation insurance to protect them in case of on-the-job injuries.

Why is log truck insurance more expensive than some other types? It's because transporting logs involves unique considerations and dangers. Risks you may face as a log trucker include these:

1. Heavy Logs

Log collisions are riskier due to the tremendous weight of the logs. The maximum weight allowed for carrying logs on federal roadways is 80,000 pounds; however, several state jurisdictions have a more relaxed weight restriction on state routes. Because of this, accidents involving log trucks are extremely risky.

2. Increased Chance of a Truck Tipping

Semi-trucks are far more likely to flip over due to the unequal weight distribution caused by the extra cargo that log transporters deliver.

3. Accidents and Claims

Log trucks are heavier than other vehicles. Hence, accidents involving them typically result in more severe injuries and property damage.

The typical annual premium for protecting a log truck is between $8,000 and $15,000. These calculations are based on the assumption that you use modern machinery and have at least $750,000 in main liability insurance.

There might be an even higher cost if you’re just getting started in the log truck industry. Insuring a flatbed truck depends on several variables, including these:

• Adhering to OSHA log-loading regulations.
• Driving history of the log hauler.
• Log hauler having a minimum of three years with a CDL.
• Truck’s age and value to determine how much you pay for physical damage.
• Having a written safety plan.
• Transporting mill-finished lumber or pulpwood from the field.
• Number of years in business.

The answer will vary based on whether you are an independent contractor, a leased owner-operator, or both. On average, the annual premium for a log truck with a leased owner-operator costs between $4,000 and $6,000.

Insurance premiums for owner-operators who are in charge of their businesses range from $11,000 to $14,000.

We estimate that truckers working under the new authority will spend between $16,000 and $22,000 per year for insurance coverage, which is much more than the previous estimate of $14,000.

Know that these are only some guidelines to follow. The cost of your insurance policy will depend on various criteria, including the age and value of your vehicle, the distance you often drive, your driving history, and any claims you may have filed.

Here are some tips to lower your premiums for log truck insurance:

1. Engage a Qualified Broker

Getting the best rate on your insurance requires working with a broker or agent who can recognize the distinction between a mule train and a long logging truck.

2. Maintain a Safe Operation

Employ safe drivers. Have a detailed documented safety strategy that addresses every part of your organization. Maintain your loaders, trailers, and logging vehicles.

3. Request Discounts

Ask about possible discounts. Large savings can occasionally go unnoticed.

4. Comparison Shop

Since there may be such a wide range in insurance company prices, this is the most effective strategy to reduce expenses.

To make finding reasonably priced log truck insurance simple, contact CoverWallet for a quote. Our logging insurance carriers are experts with a deep understanding of how logging businesses operate.

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