Transporting hazardous materials is important work that poses unique risks for the people and businesses that do it. Even the most careful hazmat truckers get into accidents, and unexpected things occur. One of the best ways to manage these incidents is to have adequate, not just required, hazmat truck insurance coverage.
Hazmat truck coverage helps protect trucking companies, drivers, customers, and more. Having comprehensive and sufficient hazardous materials insurance can help you limit risk and prevent losses.
In this article, we will reveal the top 6 hazardous materials insurance providers and explain what you need to know to get adequate hazmat protection for your truck, business, and people you encounter.
- 6 best hazmat truck insurance companies
- What is hazmat truck insurance?
- Is hazmat insurance a required coverage?
- Who needs hazardous materials truck insurance?
- Why do I need hazmat truck insurance?
- What coverages are usually included in a hazmat truck insurance policy?
- How much does hazmat truck insurance cost?
6 best hazmat truck insurance companies
Comparing to other truck insurance coverages, hazmat insurance may be a bit more difficult to find. We have done the research and recommend the best 6 providers below:
- Progressive: Best for discounted coverage
- Colonial Insurance Services: Best for hazmat truck insurance expertise
- World Insurance: Best for insurance from an experienced provider
- NITIC: Best for affordable hazmat truck coverage
- Tivly: Best for comparing quotes from multiple providers
- Simply Business: Best for the right hazmat truck coverage at the right price
Progressive: Best for discounted coverage
Progressive may seem like a less than serious company because of its ongoing series of commercials featuring Flo. You might feel concerned about trusting it for coverage as serious as hazmat truck insurance.
The truth: It’s a very serious insurance company offering vehicle coverage for more than 80 years. It’s the number one commercial vehicle insurer in the United States. Progressive is known for its flexibility, great rates, and top-tier service.
Progressive is often associated with discounts, which could help you save on costly hazmat truck insurance. Some popular ones include:
- Paying your premium in full annually rather than monthly or quarterly
- Bundling your insurance
- Having a safe driving record
- Avoiding making claims
- Allowing Progressive to track your driving in real-time
- Agreeing to autopay.
Progressive also specializes in heavy truck and hazmat claims. All its adjusters are in-house and will take care of repairs and guide you through the process from beginning to end. The company has a vast network of approved repair shops that give its customers priority status.
Progressive makes it easy to get a quote online or coverage through a licensed insurance representative. Because of the complexity of this insurance, you’ll likely have to complete your policy purchase after a phone call with a Progressive representative.
Colonial Insurance Services: Best for hazmat truck insurance expertise
Colonial is a leading provider of hazmat truck insurance. They are a commercial truck broker specializing in hazmat coverage. The experts at the firm understand the safety concerns of companies that transport hazardous materials and waste. It has developed the expertise and infrastructure to offer superior insurance products and services that meet and exceed the safety-sensitive requirements of the industry.
Colonial is known for its:
- Relationships and market clout that allow it to secure the most competitive policy terms
- Ability to help with Department of Transportation compliance
- Custom analysis of SMS/CSA scores and recommendations on how to lower them
- MVR and Pre-Employment Screening Reports (PSP)
- Discounts on truck dash camera systems
- 24/7 online access to certificates of insurance
- Safety engineers who help prevent incidents and claims
- Timely policy changes.
Finally, when it comes time to renew your hazmat truck insurance, you can expect Colonial to work with you to secure the most competitive terms available at that time.
World Insurance: Best for insurance from an experienced provider
The team at World Insurance has decades of commercial trucking insurance experience. They’re available to advise you on the right hazmat truck coverages, so you can keep yourself and your assets safe. Many of their team members have worked as truckers, so you can feel confident knowing they’ll understand you and recommend coverage that meets your needs.
NITIC: Best for affordable hazmat truck coverage
National Independent Truckers Insurance Company (NITIC) was launched in 2001 to offer affordable truck insurance to independent owner-operators and small trucking fleets.
NITIC is currently licensed to provide insurance in 48 states. They have a team of licensed insurance agents specializing in trucking insurance, including hazmat coverage.
NITIC is organized as a Risk Retention Group. That means its policyholders are also its owners.
It makes it possible for NITIC to build a stable market for coverage and rates, implement effective loss control and risk management practices, and offer lower premiums than most other insurers.
NITIC maintains a secure rating of B+ (Good) from A.M. Best, the insurance rating company. It’s lower than many other insurers, but still reflects a solid financial position.
Tivly: Best for comparing quotes from multiple providers
The best way to save money on costly hazmat truck insurance is to get quotes from several insurers. The easiest way to do that is through Tivly.
Tivly is a cutting-edge insurance provider. The firm has developed its state-of-the-art platform based on proprietary algorithms to ensure it can connect hazmat truckers with the customized coverage they need at a reasonable price. The platform usually makes it quick and easy to connect you with 2-3 agents who have decades of experience and expertise in the cargo that you focus on. This would help you get customized quotes from several providers and allow you to compare coverage and premium prices from highly reputable insurers through their agents.
With coverage as complex as hazmat insurance, you may have to apply for coverage online and get your quotes after a conversation with the agents they connect you with.
Tivly is committed to streamlining the insurance buying process. When you work with the insurer, they’ll tailor insurance policies to the unique needs of your business and:
- Provide maximum coverage
- Save you money
- Reduce liability risks.
You owe it to yourself to check out Tivly for your hazmat truck coverage.
Simply Business: Best for the right hazmat truck coverage at the right price
Simply Business is more than a company name. It’s how the organization approaches small business insurance. The company takes pride in making insurance for truckers and others clear, simple, and affordable.
The firm was founded in 2005 and is headquartered in Boston and London. It’s an online insurance brokerage that specializes in protecting small businesses.
No matter the size or scope of your trucking operation, Simply Business is committed to helping you find the right coverage at the right price for your operation. With Simply Business, all you have to do is input information online about your business, and it will present you with quotes from top insurance providers. This allows you to compare costs and coverages and select the best insurance for your business, all in a single place. Much like the other insurance aggregators and brokers on this list, you’ll likely have to complete your insurance purchase after a conversation with a Simply Business rep.
What is hazmat truck insurance?
Hazmat trucking insurance is a type of commercial vehicle coverage. It protects you from the risks that come with operating a commercial trucking business, as well as the unique threats associated with hauling dangerous materials.
Is hazmat insurance required?
State and federal governments require hazmat truck coverage to control risk and keep people safe. However, you shouldn’t necessarily limit your coverage to required types and limits. Insuring your cargo, trucks, drivers, and more can help protect you if something goes wrong when hauling dangerous things.
Depending on the type of hazardous materials hauled, hazmat trucks are required by law to at least carry liability coverage of $1,000,000-$5,000,000 per accident.
Who needs hazardous materials truck insurance?
There are countless types of hazardous materials, including things that are flammable, poisonous, or explosive. In addition, anything that presents any threat or danger is considered hazardous. Knowing what substances and materials are classified as hazardous will help you determine if you need the coverage.
Hazardous materials come in several classes, according to the United States Department of Transportation. The classes are:
- Flammable liquids
- Flammable solids
- Oxidizing substances or organic peroxides
- Radioactive materials
- Toxic and infectious substances
- Any other dangerous goods.
If you think you may need hazmat truck coverage, connect with one of the providers on my list. They can advise you on whether you need coverage and, if you do, how much you should get.
Why do I need hazmat truck insurance?
Hazmat truck insurance covers costs related to things like:
- site clean up
- loading and unloading incidents
- in-transit accidents
- contamination and pollution clean up
- medical payments
- personal injury claims
- lost income because your truck is out of commission.
Trucking companies usually consider umbrella, or excess liability, coverage on top of trucking primary liability policies. It provides an added layer of protection should something catastrophic happen.
What coverages are usually included in a hazmat truck insurance policy?
A typical policy contains these coverages:
- Pollution liability. Covers cleanup expenses resulting from an accident.
- Collision and comprehensive. Covers your tractor and trailer against collision or from upset, overturn, fire, theft, vandalism, and other losses.
- Hazmat haulers’ general liability. Provides liability coverage for non-trucking-related claims, such as delivery errors.
- Loading and unloading. Covers cargo or materials while being loaded or unloaded.
- Medical payments and personal injury. Pays medical and other expenses for the driver and passengers injured in an accident.
- Downtime. Pays lost income resulting from a covered loss.
- Loan or lease gap. Covers the difference between the value of a vehicle that’s a total loss and the amount owed on a loan or lease.
- Truck rental reimbursement. Pays to rent a replacement truck and trailer while your’s is being repaired after an accident.
- Excess liability. Provides an additional layer of liability protection above standard policy limits.
Many truckers also get a combined deductible, which allows you to pay a single deductible if a loss involves physical damage to the truck and the cargo you’re hauling.
How much does hazmat truck insurance cost?
Hazardous materials are the most heavily regulated type of cargo because of the danger involved in transporting these types of materials. Because of the regulatory requirements and high level of risk, hazmat truck insurance is usually much more expensive than other types of commercial trucking protection. Hazmat truckers can generally absorb the costs of hazmat coverage because they get paid more to transport dangerous cargo.
It’s hard to provide a benchmark premium price for hazmat truck insurance because it is based on many factors, including the types of hazardous materials hauled; size, age, and value of the fleet; distance and locations driven; insurer; and other factors.
It’s a smart idea to get quotes from a few of the providers on the list below to ensure you get the right coverage for you at a fair price.
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