Trucking Insurance

Trucking Insurance Information

How Much Insurance Does a Trucking Company Need?

Commercial trucking companies and owner/operators must carry the minimum required amount of commercial auto insurance and public liability coverage.

Your insurance agent can help you determine which insurance policies may best meet the needs of your trucking company. Contact P3 Insurance Solutions in Memphis, Tennessee, today to learn more about commercial trucking insurance and get a personalized quote.

What Is Trucking Insurance?

Commercial trucking insurance policies can help cover the cost of a trucking company or truck driver’s legal liability if an accident causes third-party injuries or property damage. Depending on the type of insurance you choose, trucking insurance may also help cover damage to the trucking company’s property.

How Does Trucking Insurance Work?

A company or individual can purchase trucking insurance from an insurance company. So long as your premiums are paid as agreed and the accident is covered under the policy, the insurance company helps pay damages according to the insurance policy after a covered accident or incident.

Is Commercial Trucking Insurance Required?

Your agent can help you get the trucking insurance you need to remain in compliance with federal and state laws.

The Federal Motor Carrier Safety Association (FMCSA) requires public liability insurance, also called primary liability insurance. This coverage is intended to provide coverage for losses incurred by other motorists when the truck driver is at fault in an accident.

The minimum amount of public liability insurance coverage you must carry according to the FMCSA may depend on several factors, including the type of freight you haul. Talk with your agent about how to remain in compliance with FMCSA rules.