Elite International Insurance Services

Yes, you do need commercial trucking insurance if you are operating a commercial vehicle. Commercial trucking insurance is specialized insurance that provides coverage for vehicles used in the transportation of goods or services. It’s an important form of insurance to have because it offers several specific types of protection, including liability and physical damage coverages that help protect against financial losses related to accidents and property damage.

Commercial trucking insurance can also provide additional coverages depending on how the vehicle is used for business purposes, such as cargo coverage for contents being transported, as well as contingent bodily injury and property damage coverage for non-owned trailers and equipment being towed by your rig. Depending on your needs there are other optional coverages available through various carriers such as motor truck cargo coverage, bobtail/deadhead liability deductible buyback breakdown expense protection and employees’ tools & equipment protection.

The cost of commercial trucking insurance varies widely depending on a number factors including type of cargo hauled; radius traveled; years experience in business; number of drivers/vehicles in fleet; age/make/model of vehicles insured plus safety record (claims history).

The average cost for commercial trucking insurance depends on many factors, such as the type of cargo being transported, the size of the truck and trailer, the driver’s experience and driving record, as well as other risk factors.

On average, however, professional drivers pay anywhere from $7000 to $10,000 a year in total insurance costs. This includes both primary liability coverage (which pays for bodily injury/property damage if you are at fault) and cargo insurance (which pays for lost or damaged goods). The higher premiums result from long-haul trucks’ greater exposure to risks due to their greater distance traveled and number of miles traveled in a given year.

It is important to note that businesses purchasing coverage may be eligible for discounts based on safety standards or having multiple vehicles under one policy; such discounts can lower an insurer’s premium outlay by up to 25%. Additionally, insurers may offer incentives such as cash rewards or waivers of deductibles when safe practices are maintained over time.

Finally, it is important to note that different states have different regulations regarding types of insurance coverage required for commercial truckers depending on their operations—so it is wise for businesses wishing to transport freight across state lines to consult with local regulatory agencies before making any decisions about how much coverage they might need.