There are more than 28,000 dump truck service businesses in the US and it has been growing 2.1% in 2022. With the rise of construction and mining activities, demand for dump truck services has been on the rise. A dump truck company can be profitable and provides an opportunity to make a good life. Operating a dump truck or a fleet of dump truck requires commercial truck insurance. Dump truck insurance is required by laws in any state in the US. The good news is that many companies offer dump truck insurance.
We are recommending the 5 best dump truck insurance companies for your consideration and explain the nuances of dump truck insurance that you might find useful if you are looking for commercial truck insurance for your dump truck business.
- The 6 best dump truck insurance companies
- What is dump truck insurance?
- Who needs dump truck insurance?
- What does dump truck insurance cover?
- How much does dump truck insurance cost?
- How to find cheap dump truck insurance?
The 6 best dump truck insurance companies
As a dump truck owner, insuring your vehicle can help you cover the expenses of legal fees and other damages resulting from an accident. However, if you are new with the procedure, purchasing trucker insurance may be expensive and confusing. It is a good thing that a lot of providers are familiar with the complexities of state insurance regulations and requirements. Here are our recommendations of the top 6 providers of dump truck insurance.
- InsurePro: Best for flexible pay-per-day trucking coverage
- Progressive: Best Overall and the only online fast quotes
- Simply Business: Best for comparing several insurance quotes
- Travelers: Best for wide range of coverages
- Sentry: Best for individual dump truck owner-operator
- The Hartford: Best for high-risk drivers
- Commercialinsurance.net: Best for comparing quotes through knowledgeable agents
InsurePro: Best for flexible pay-per-day trucking coverage
InsurePro is a newer broker. They offer innovative business insurance coverage, which they call insurance on-demand. This means that you have the flexibility of buying trucking coverage for a short period of time, even just a day. It is also called pay-per-day coverage. You only pay for the coverage when you are on the road.
This is perfect for part-time truckers or trucking businesses that may not haul every day of the month. Buying trucking coverage for a few days when you need it will help you save a lot of money since you don’t pay for the coverage when you are not on the road.
InsurePro also offers one of the best digital experiences. You can get quotes and buy the policy directly on their website, which only takes about 10-15 minutes. After buying the policy, you can manage your policy online using their dashboard with many useful features.
Progressive: Best Overall and the only online fast quotes
Progressive is widely considered as one of the top commercial trucking insurance providers in the industry today. They wrote the most insurance policies in the United States in 2020. Progressive is an owner-operator, motor carrier, and private carrier specialist. For nearly 40 years, the insurance has provided truckers with coverage.
Unlike some other providers, Progressive offers specific dump truck insurance plans that contain main liability insurance as well as physical damage coverage. Progressive also collaborates closely with motor carriers to complete state and federal financial responsibility filings on their behalf. They also have a strong claims department for huge trucks.
|– Top commercial vehicle insurer in the U.S.|
– Available in all 50 states
– Offers free state and federal insurance filings
– Variety of discounts
|– Will need to work with an agent to buy the policies|
– Allowable fleet size is limited
– Travel radius may apply
Simply Business: Best for comparing several quotes
Simply Business is an online insurance broker, with a web-based insurance platform that provides the finest, simplest, and most economical solution for businesses to acquire and manage their business insurance plans online in one place.
Despite the fact that Simply Business is an online agency (rather than an individual insurance company), this platform assists commercial truck drivers in purchasing insurance for their vehicles in only minutes online. They deal with small and medium-sized enterprises to provide cost-effective insurance coverage. You will also be assigned a dedicated and knowledgeable agent to help you with any questions that you may have. They deliver the services 100% through phone and emails.
|– Compare several quotes |
– Dedicated insurance advisor
– Coverage available for bad credit/bad driving record
|– If you like some particular carrier that they don’t work with, you are out of luck.|
– Pricing may take longer, in some cases
Learn more at the best commercial truck insurance brokers
Travelers: Best for a wide range of coverages
Travelers Insurance is one of the major car insurance firms in the United States, with offices in 43 states. It has an A rating from the Better Business Bureau (BBB) and an A++ AM Best rating for financial strength, indicating that it works with consumers to address concerns on a regular basis and has a superior capacity to pay out claims.
It offers insurance plans to the general public from a well-known, long-standing carrier with demonstrated financial soundness, allowing for continually reducing deductibles over time.
Travelers is another leader in offering commercial truck insurance, including dump truck operators and owners. However big or small your dump truck business is, whatever coverages you may need from dump truck commercial truck insurance, trucking general liability insurance, bobtail truck insurance, or workers comp insurance for truckers, you can count on Travelers providing the coverages for your business.
|– Lots of coverage options for dump truck insurance business |
– Specialized packages help you meet your industry standards.
– One of the largest insurance providers in the nation.
– Easy online claims management gets your drivers back on the road faster.
|– Travelers lacks full online transparency and requires you to talk to an agent to get a quote or more details.|
– Customer satisfaction ratings are below average.
– The website experience is not ideal
Learn more at where to get commercial insurance truck quotes
Sentry: Best for individual dump truck owner-operator
Sentry has been delivering reliable commercial insurance since 1904. Though they are on the smaller side of commercial truck insurance, they provide coverage in all 50 states through their network of 65 trucking-specific agents.
They can insure major corporations, transportation fleets, or even a single vehicle. Because they are a small business, they provide personal attention and service that is difficult to find these days.
According to the NAIC, Sentry has an A+ AM Best rating in 2021 and had an above-average number of consumer complaints in 2020. Sentry is a carrier that concentrates on single-truck clients since that is where they excel.
There are no online quotes available, therefore you’ll have to contact or find a local agent to find out more.
|– Flexible coverage options|
– Available in all 50 states
– Specializes in coverage for owner-operators and personal use liability
|– Limited online information|
– Need to work with a local agent
– Smaller company
The Hartford: Best for high-risk drivers
The Hartford is one of the oldest insurance businesses in the United States. It began operations as a fire insurance company in 1810. Today, it is a Fortune 500 firm that provides insurance to over one million businesses in all 50 states for single vehicles and fleets alike, but it particularly excels when it comes to risk mitigation for commercial fleets.
You may get general liability, property, workers compensation, umbrella, and excess liability coverage for your commercial trucks from The Hartford.
|– Fleet-specific programs, devices, and discounts|
– Available in all 50 states
– Many complimentary coverages
– Special Risk Engineering services for fleets
|– No online quotes|
– Limited options for single-vehicle customers
– High rates for younger drivers
Commercialinsurance.net: Best for comparing quotes through knowledgeable agents
Commercialinsurance.net is another insurance broker specializing in serving small businesses with annual revenue of less than $100M. Trucking is one of their main focused industries.
The difference of commercialinsurance.net is that they partner with an intensive network of agents across the country who represent more than 50 trucking insurance companies. Regardless how unique and different your trucking business is, you can trust that commercialinsurance.net will find and connect you with an agent who is most knowledgeable about your trucking business specifics to find you the best coverage at the most affordable prices. These agents will compete for your business, so you will get the best deal out of their competition.
If you are comfortable with working with an agent to find the best coverage for your dump truck at the most affordable prices, you may want to work with commercialinsurance.net
What is dump truck insurance?
Insurance for dump trucks is a sort of speciality commercial vehicle insurance created for businesses who use these big vehicles to move diverse commodities, such as gravel, dirt, sand, and so on. Dump truck insurance is the commercial truck insurance for dump trucks.
Whether you are an owner-operator of one single dump truck or a motor carrier operating a fleet of dump truck, you will need to have dump truck insurance. It is legally required in all 50 states and it protects your dump truck business when you are involved in an accident.
Who needs dump truck insurance?
In practice, this includes:
- Owner-operators who own their own truck
- Independent dump truck drivers who are contracted to operate other people’s trucks.
- Businesses having one or more dump trucks in their fleets
Basically, if you own or operate a dump truck, you must have dump truck insurance or commercial truck insurance specifically for your dump truck.
What does dump truck insurance cover?
Dump trucks are classified as “heavy commercial vehicles,” and driving one requires trucking general liability insurance in addition to typical commercial truck insurance. A typical dump truck insurance policy will contain these coverages:
Primary trucking liability
This coverage protects against physical harm and property damage of any third party that is involved in an accident that you are at fault. This coverage is required by laws in all 50 states. If you are driving a truck or operating a trucking business, you must have this coverage. It is also the most expensive, easily accounting for 80%-90% of total dump truck insurance cost.
Motor trucking general liability insurance
This covers property damage if your truck and your drivers damage the grounds of your customer(s). It also covers if your customers are injured in your business’s premises. Learn more at the best trucking general liability insurance companies.
Non-trucking liability insurance
You want to obtain non-trucking insurance in case of an accident when owners/operators are driving their trucks during non-work hours. Learn more at the best non-trucking liability insurance companies.
This is also called bobtail insurance. However, there is some subtle difference. Bobtail insurance only covers you when you drive your truck without a trailer attached to it. Learn more at the best bobtail insurance companies.
These coverages are more necessary for owner operators than drivers working for trucking companies. Learn more at the best owner operator truck insurance companies.
Trucking physical damage insurance
This coverage will pay to repair and replace your truck when it is damaged. It is not required by laws in any states. However, it protects the most essential asset of your livelihood, you should seriously consider it. If you’re leasing your vehicle, this coverage is often required to cover any damage incurred to the truck. Trucking physical damage insurance is usually priced at a percentage of the truck’s value, usually between 1-5%. Learn more at the best trucking physical damage insurance companies.
There are two levels of coverages:
Collision coverage pays for the cost to repair or replace your dump truck if you crash into another vehicle or property. This is the more essential coverage of the two.
Comprehensive insurance extends the trucking physical damage coverage to include other non-collision incidents such as storm or weather related events.
Fire and theft coverage
As the name implies, it covers damages and/or replacement costs in case of theft or damage by fire.
Motor truck cargo coverage:
You want to consider motor truck cargo coverage to cover any damage or loss to the cargo you’re hauling—especially if the cargo is valuable. This is usually required by shippers or brokers before signing the contract. The price of this coverage depends on the cargo types that you are hauling.
Environmental insurance coverage
If you haul something that could be a possible pollutant, this coverage will cover losses, restoration, and clean-up. This coverage has become increasingly popular in the past years, especially if you are hauling for environmentally conscious and friendly companies.
Garage keepers insurance
If you are storing or parking any customer’s vehicles on your lot, you’ll need this coverage. It covers any damages happened to the customers’ vehicles while being stored at your garage. There are nuances that you may want to learn more if you consider this coverage. Learn more at the best garage keepers insurance companies.
You should also be aware that garage keepers insurance is different from garage liability insurance. Learn more at the best garage liability insurance companies.
How much does dump truck insurance cost?
The GVW of all dump truck classes, together with the weight and kind of cargo hauled, automatically places them in a higher risk category. As a result, dump truck insurance is likely to be more expensive. A commercial truck insurance policy for a dump truck can cost as little as $2,400 per vehicle per year and as much as $7,200.
In general, if a trucking firm has been in operation for two years or more, has a solid loss history, high safety ratings, and experienced drivers, they will be able to acquire the most competitive insurance cost. On the other hand, if you are a new trucking company, have losses, or inexperienced drivers, you will have to pay a higher cost. Learn more at the best commercial truck insurance companies for new drivers.
Another factor to consider is whether you’re insuring a single truck or a whole fleet of trucks. If you have numerous trucks to cover, you may receive a decrease in your rate on a per vehicle basis, so you’ll pay less than if you insured the trucks individually.
Regardless, when looking for your dump truck insurance cost, be sure to shop around, get quotes from several companies, compare, and select the best and the cheapest one for you.
Learn more at how much dump truck insurance costs
How to find cheap dump truck insurance?
Dump truck insurance is expensive, but there are several ways you can save money.
- Hire drivers with clean experienced records. New drivers to the trucking industry will have to pay a lot more than an experienced one with good driving record.
- Require driving logs
- Enrolling in a safe-driving program (apps, or other devices to monitor driving)
- Provide continual training and safety monitoring for your drivers
- Shop around and compare for the best rates
- Maintain and service your dump trucks regularly
Learn more at the cheapest commercial truck insurance companies
Learn more about dump truck insurance in different states in the country:
Dump truck insurance in Texas
Dump trucks in Texas often haul things like dirt, sand, and gravel. Texas requires heavy duty commercial trucks weighing more than 10,001 pounds to carry primary liability insurance of at least $500,000. This is assuming you never cross state lines, because FMCSA requires $750,000 in liability coverage.
Most dump truck companies in Texas pay between $5,000 and $20,000 a year for insurance.
Learn more at the best dump truck insurance companies in Texas
Dump truck insurance in Florida
If your work vehicle has a hydraulic lift and an open back, Florida considers it a dump truck. Dump trucks are used to haul things like sand, gravel, asphalt, coal, and other commodities.
There are varying limits, depending on the weight of the vehicle:
- 26,000 pounds to 35,000 pounds: $50,000 in primary liability
- 35,000 pounds to 44,000 pounds: $100,000 in primary liability
- Over 44,000 pounds: $300,000 in primary liability insurance
It should be noted that these limits are quite low, and if your dump truck is in an accident, the potential for huge medical bills and property damage can easily max out a policy with these limits.
Learn more at the best dump truck insurance in Florida
Dump truck insurance in California
If you don’t cross state lines and your truck is over 10,000 pounds (as most dump trucks are) you’ll need to get a CA Intrastate ID number and be insured for the following:
- Less than 10,000 pounds: $300,000 CSL
- Over 10,000 pounds: $750,000 CSL
If you cross state lines, you’ll need to comply with FMSCA regulations. Anyone involved in an accident with a dump truck can suffer severe injuries, so consider higher levels of insurance.
Best dump truck insurance in all 50 states and Washington DC
Dump truck insurance is a type of commercial truck insurance, that is the reason why we sometimes see another similar term, commercial dump truck insurance, being used. As we know, commercial truck insurance requirements vary by state and different companies operate in different states. If you are interested in finding the best dump truck insurance companies in your particular state, we haven’t done enough research to figure out that level of specifics for all 50 states, except Florida and California. However, we have developed the list of best commercial truck insurance in all 50 states and Washington DC below for your consideration. Click on the link embedded in the name of the state will take you to the best commercial truck insurance companies we recommend in that state:
Dump truck insurance provides drivers with peace of mind when transporting cargo on America’s roads. Finding the correct provider and coverage, on the other hand, may be a difficult and frustrating endeavour. We made the post to save you time and money when looking for the best dump truck insurance.