Dallas was originally developed because major railroad lines traveled through the area to facilitate access to cattle, cotton, and eventually, oil. When the interstate system was built, it solidified the role of Dallas as a transportation hub. The city has four major interstate highways meeting within the city and a fifth interstate loop traveling around it. When you think of those highways, quite a few commercial vehicles come in and out of the city daily.
Appropriate insurance coverage is an absolute must to protect both the trucker and the general public from that much traffic. Here we will discuss the following topics regarding commercial truck insurance in Dallas, Texas.
- The 5 best commercial truck insurance companies in Dallas, Texas
- Commercial truck insurance coverages for truckers Dallas, TX
- What determines the minimum truck insurance coverage needed in Dallas, Texas?
- Minimum insurance requirements in Dallas, Texas
- How much does commercial truck insurance cost in Dallas, TX?
The 5 best commercial truck insurance companies in Dallas, Texas
We think the following companies are the 5 best commercial truck insurance companies in Dallas, Texas.
- Progressive: Best Overall and the only carrier offering truck insurance quotes online
- Simply Business: Best for comparing quotes
- Allstate: Best for excellent customer satisfaction rating
- The Hartford: Best for fleets
- Commercialinsurance.net: Best for small and new trucking businesses
Progressive: Best Overall and the only carrier offering truck insurance quotes online
Progressive insures hundreds of thousands of small business owners via commercial auto insurance policies. The company customizes coverage to meet the specific needs of each customer. The cost of a policy from Progressive depends on the amounts and kinds of coverage you choose. Progressive offers 24/7 assistance online or by phone.
Progressive is the market leader in commercial truck insurance industry. The company has the biggest market share, 12% in 2020.
If you want to get a fast truck insurance quote online, you may want to start with Progressive. They are the only carrier offering commercial truck insurance quotes online. It shouldn’t take you more than 10 minutes to get a quote on their website. You may want to give it a try even just to have an idea how much a commercial truck insurance policy would cost you in Dallas, TX, before embarking on your shopping journey.
Simply Business: Best for comparing quotes
Simply Business is an insurance broker specializing in the needs of small businesses, including trucking firms. Simply Business has created its own algorithm to help streamline the insurance quote process. You input your information once, and the system returns multiple quotes matching your criteria.
If you want to compare several truck insurance quotes in one place, you may want to start with Simply Business. They are one of the top trucking insurance broker. They work with many leading truck insurance companies such as Travelers, CNA, Harborway Insurance, etc. and are able to pull quotes from these companies for you to compare in one place conveniently.
Allstate: Best for excellent customer satisfaction rating
Are you in good hands? We’ve all seen and heard the commercials for Allstate’s auto insurance coverage, but were you aware they also offer commercial truck coverage? The company provides insurance coverage in all 50 states and Washington, DC, through a network of qualified agents. The company offers base policies with add-ones (like equipment breakdown) to help you build a policy customized for your needs.
Allstate ranks 1st in the prestigious annual JD Power Survey for its excellent customer satisfaction rating.
The Hartford: Best for fleets
The Hartford offers commercial insurance to trucking companies of all sizes, but they prefer writing policies for fleet operations. The company is well-known in the insurance industry and has been in business for over 200 years. It started as a fire insurance company, and they have provided coverage for larger names and events throughout its 200-year history.
If you own a fleet and are looking for commercial truck insurance for the fleet, you definitely want to get a quote from the Hartford.
The Hartford is also known for being a highly ethical company. If you get a policy from the Hartford, you should be assured that you are in good hands.
Commercialinsurance.net: Best for small and new trucking businesses
Commercialinsurance.net specializes in finding insurance products for small businesses. This brokerage company teams with agents who are experts in their industry. The company also provides information that explains commercial auto coverage and the coverages they offer on their website for anyone to view.
If you are just starting your trucking business, it might be difficult for you to get commercial truck insurance since many insurance companies consider your business high risk. You should definietly work with commercialinsurance.net. Their agents are very knowledgeable and experienced in helping new trucking businesses to get the right coverages at the most affordable prices.
Commercial truck insurance coverages for truckers Dallas, TX
If you are a trucker in Dallas, Texas operating under your own authority, you are responsible for providing more coverage for your truck than those who are leased owner-operators. This is due to motor carriers providing some of the coverages for the leased drivers within their fleet. Some of the coverages offered to truckers regardless of authority are:
- Primary liability
- General liability – Learn more at the best trucking general liability insurance companies
- Physical damage – Learn more at the best trucking physical damage insurance companies
- Motor truck cargo – Learn more at the best motor truck cargo insurance companies
- Bobtail – Learn more at bobtail insurance cost and the best bobtail insurance companies
- Non-trucking liability – Learn more at the best non-trucking liability insurance companies
- Trailer interchange – Learn more about trailer interchange coverage
- Uninsured motorist
- Workers’ compensation – Learn more about workers comp insurance for truckers
- Trucking umbrella coverages – Learn more at the best trucking umbrella insurance companies
What determines the minimum truck insurance coverage needed in Dallas, Texas?
The insurance needs for trucking companies in Dallas are variable. The factors determining how much coverage you need include:
- Your truck’s fully loaded weight.
- What kind of freight do you carry. Non-hazardous and hazardous materials have different coverage needs.
- Whether you are intrastate (inside Texas) or interstate (traveling across state lines)
Minimum insurance requirements in Dallas, Texas
The Texas Department of Insurance (TDI) sets the regulations for minimum coverage amounts for intrastate trucks. The current minimum coverage amount for an intrastate trucker in Dallas is $500,000.
Interstate trucking requirements are set by the Federal Motor Carrier Safety Administration (FMCSA). For interstate trucking, the amount of coverage is dependent on the kind of materials transported and the weight of the truck. For example, a truck that weighs less than 10,001 pounds and carries non-hazardous materials must have at least $300,000 in insurance coverage.
Other requirements include $750,000 in coverage for trucks that weigh more than 10,001 pounds and carry non-hazardous material. Cargo transported between Texas and another state, trucks hauling oil, or vehicles with a hopper are required to carry a minimum of $1 million in coverage. Trucks carrying hazardous materials must have at least $5 million worth of coverage.
Additional commercial truck insurance requirements in Dallas, TX
In addition to the minimum coverage requirements, insurance policies or endorsements cannot be issued unless prior approval has been obtained from the commissioner. Filings to request approval must be made no later than the 60th day before use of the policy or delivery for use of the documents
How much does commercial truck insurance cost in Dallas, TX?
The average cost of commercial truck insurance in Texas is $13,500 a year, or $1,125 a month. It is a bit more expensive in Dallas.
The average cost of commercial truck insurance in Dallas is $14,040 a year, or $1,170 a month. The policy includes primary liability, bobtail insurance, trucking physical damage, and cargo insurance.
These are just the averages. Your quotes and rates will be different. Be sure to shop around with a few companies or work with a top broker like Simply Business or Commercialinsurance.net to get and compare several quotes before making your final decision. If you want to get a fast truck insurance quote online even just to have a sense of your truck insurance cost, you may want to get a quote with Progressive. They are the only carrier offering truck insurance quotes online and it should take 10 minutes or less to get a quote on their website.
Final thoughts
Dallas has been a transportation hub since its beginnings. TDI regulates intrastate trucking in Texas, and the FMCSA regulates interstate trucking. These regulations set a minimum coverage amount for truckers. Commercial drivers must understand the insurance requirements and adhere to them.
It’s good to extend your coverage beyond the minimum amounts to ensure you have enough appropriate coverage for your needs. Speaking with an insurance professional, either an agent or a broker can help you determine which coverages suit your needs.
