5 Best Hot Shot Trucking Insurance Companies for 2023

Thang Truong
Thang Truong
Updated on:

If you own a business that engages in hot shot trucking, you need to be sure you are covered by the right insurance policy. Hotshot truckers are heroes when brokers and shippers need to have small loads that have to be delivered fast. The drivers specialize in this kind of work and often ship items like construction materials, agricultural equipment, and heavy machinery from one location to the next.

Hotshot trucking insurance is essential since hauling these items – and fast – can carry a lot of risks. With this type of trucking insurance on hand, you are protected from third-party liability claims regarding physical damage and bodily injury that you cause or sustain to your body and vehicle.

In this article, we’ll share the best hot shot trucking insurance companies and what each of them brings to the table.

The 5 best hot shot trucking insurance companies

Looking for the best hotshot trucking company for your business can be overwhelming since there are so many options in the market. After intensive research, here are our recommendations for the top 5 providers that can help you start your search more effectively.

  • Progressive: Best Overall as the leader in commercial truck insurance
  • Simply Business: Best for comparing several quotes
  • biBERK: Best for affordable hot shot trucking insurance
  • The Hartford: Best with its 200+ years of experience in insuring small businesses
  • Commercialinsurance.net: Best for working with knowledgeable agents
  • InsurePro: Best for short term or pay-per-day coverage

Progressive: Best Overall as the leader in commercial truck insurance

The next option for hot shot trucking insurance is Progressive. This company also provides quotes online to make the process a cinch. But what sets it apart from other hotshot trucking insurance providers is that the company has a wide selection of insurance options, and you can get them all from a single place.

There’s lots of information on the website about commercial truck insurance, of which hotshot is a part. In addition, Progressive is known for excellent financial stability and is a nationwide company that most people have heard of. It’s a trusted company, making it a good option for many hotshot truckers.

On the other hand, getting a quote from Progressive can be hit or miss. When we tried, the page hung up and never moved forward. However, you can speak with an agent to get through the process. In addition, those who need hotshot insurance and other insurance will easily find options that meet their needs.

Learn more at where to get commercial truck insurance quotes

Simply Business: Best for comparing several quotes

Simply Business is modern, but it’s also an experienced broker that helps you get business insurance of all types. This broker does provide coverage for hot shot trucking through their commercial auto policies. When you go to the site to get a quote, you can designate your business as hotshot trucking. 

To get a quote for hotshot insurance, all you need to do is fill out a few pages of information about your business. Once you do, you’ll see several quotes so you can choose the least expensive one that offers the coverage you need. The process takes only five to 10 minutes in many cases.

After receiving a quote, you can work with an agent to purchase a policy or do it entirely online. Then, any time you need to manage the policy, you can do those tasks online, too. This includes renewing a policy, filing a claim, downloading a certificate of insurance, and more. 

In many cases, Simply Business will provide immediate quotes. However, sometimes additional information is required. When we tried to get a quote, we were asked to contact them to verify a few details of your hot shot trucking business. This is normal since trucking business is complicated with a lot of nuances. It is worth a phone. call to discuss your quote option with them since you can still compare several quotes with their agent in the phone. That will save you a lot of time going around to many trucking insurance companies trying to get a quote.

Learn more about the top commercial truck insurance brokers

biBERK: Best for affordable hot shot trucking insurance

biBERK is a subsidiary of Berkshire Hathaway group, the parent of Geico, so it is safe to assume that they know how to run a low-cost vehicle insurance company. biBERK is the Berkshire Hathaway’s effort to offer commercial truck insurance, including hot shot trucking insurance, with its direct to customers business model. Similar to Geico, they offer hot shot trucking insurance directly to their customers, bypassing agents and brokers. As a result, they are able to reduce costs and pass savings to its customers. In fact, biBERK claims that they are able to save their customers at least 20% on hot shot trucking insurance premiums.

biBERK is also one of a few companies offering an easy and fast online quotes. It shouldn’t take you more than 10 minutes to get a quote online with biBERK. If you are happy with the quote, you can proceed to buy the policy and manage the entire policy online as well.

The Hartford: Best with its 200+ years of insuring small businesses

Third on our list is The Hartford, a reputable company that has been in the insurance world for many decades. In fact, they have been insuring small businesses for more than 200 years and have counted more than 1 million small business customers. This gives them knowledge and experience that you may not find from other insurance providers. In addition, their commercial auto insurance includes hotshot coverage.

The website for the company also lists other insurance that might be useful, such as general liability, property coverage, workers’ compensation insurance, and umbrella coverage. It also presents solutions for specialized and commercial truck businesses, like dealers plates coverage, newly acquired property, and cyber security coverage.

Some forms of insurance from The Hartford are available with online quotes. However, the page on hotshot insurance recommends speaking on the phone with an agent. As such, the process may take longer than a typical online quote, and you will need to talk with a human to complete the process.

Commercialinsurance.net: Best for working with knowledgeable agents

Last is commercialinsurance.net, a popular small business insurance broker in the country. Commercialinsurance.net is known for their intensive agent network that they partner with. These agents represent 50+ trucking insurance companies and are very knowledgeable about trucking business and trucking coverages.

After you fill out information into a form, their algorithm will match you with the agents in their network who is most knowledgeable about the specifics of your hot shot trucking business. This means the process may take longer than expected if you need immediate coverage for hot shot trucking. However, you want to get some expertise advice to get the best coverage at the most affordable prices, you may want to work with them.

InsurePro: Best for short term or pay-per-day 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.

This is perfect for part-time truckers or newer hot shot 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 don’t have business.

InsurePro also offer 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.

What is hot shot trucking business?

When a cargo broker or shipper needs to ship a relatively small load quickly, they usually call up the services of hot shot trucking businesses. Hot shot trucking refers to commercial truck services that deliver relatively small loads in a time sensitive manner. These loads are usually project-critical and need to be delivered quickly and timely.

Hot shot trucking business can be lucrative since it usually pays higher rates for time-sensitive deliveries.

Hot shot truckers usually drive super-duty pickups with trailers, rather than the usual heavy-duty semi trucks in common trucking businesses. As a result, hot shot trucking insurance is usually cheaper than semi truck insurance. And that’s one of the reasons why hot shot trucking usually attracts new truckers.

It is actually advisable that new drivers should start their trucking business with hot shot trucking. After a couple of years, their commercial truck driver license will become mature, which will help them get a more affordable rates if they want to transition into the usual heavy-duty semi trucking. New drivers can either become an owner-operator and operate their hot shot trucking business under their own MC number or lease on with another company. Leasing on with another company can significantly reduce their hot shot trucking insurance costs.

What is hot shot truck insurance?

You are required by laws to have hot shot truck insurance to operate your hot shot trucking business. Hot shot truck insurance a type of commercial truck insurance. It includes coverages that are common in a commercial truck policy and those that are specific to hot shot trucking business.

What does hot shot truck insurance cover?

Any business that does hot shot trucking must have primary liability coverage as the base of the policy. Based on the FMCSA (Federal Motor Carrier Safety Administration) information, a minimum of $750,000 is needed in liability coverage. However, other coverage options are added to create a hotshot policy that meets your needs. Below are a few coverages that can be added to a hot shot truck insurance policy:

  • While not always required by the shipper or broker, it is recommended that you have coverage for physical damage to your pickup and trailer. This will cover if your truck and/or trailer are damaged.
  • Non-trucking liability, or also called bobtail insurance: This cover you when you drive your pickup trucks without a trailer and/or a load on your truck. Learn more at the best bobtail insurance companies.
  • Trucking general liability insurance: This coverage protects you when there are third-party bodily injuries or property damages at your hot shot trucking locations. Learn more at the best trucking general liability insurance companies.
  • Workers comp insurance for truckers: Trucking drivers are in a high risk profession. Truckers workers comp insurance will cover them if they are injured or become ill at work. It pays for medical expenses, lost wages, rehabilitation, disability benefits, and death benefits. Learn more at the best workers comp insurance for truckers.

How much does hot shot trucking insurance cost on average?

As mentioned above, hot shot trucking policies are more affordable than usual commercial truck insurance. However, it can range in price depending on where you are located, how large your business is, and how much hot shot trucking makes up for your business activities. On average, hot shot trucking insurance costs $14,000 a year. Many companies can expect to pay between $7,000 and $22,000 a year for this insurance.

If you just start out your hot shot trucking business, your should expect to have $3,000-$4,500 to pay for the down payment of your hot shot truck insurance.

Make sure you shop around with a few companies or work with a broker like Simply Business, commercialinsurance.net, CoverWallet, or Smart Financial to compare several quotes before making your final decision. You can also get a quote online directly from the carriers. However, Progressive and biBERK are the only two carriers offering hot shot trucking insurance quotes online. Getting a quote online on their websites should take just about 10 minutes or less, so it might be worth a try.

Learn more at where to find no down payment commercial truck insurance.

How to find cheap hot shot truck insurance?

Commercial truck insurance is generally expensive. Even hot shot truck insurance is more affordable than other truck insurance, it is still a big expense for any trucking business. Below are a few tips to save money on your hot shot truck insurance policy.

  • Keep your driver records clean. When you start out, your hot shot commercial truck insurance rate is based on your personal driving record. After gaining a few years of trucking experience, your rate will become better if you have a good record of driving.
  • Keep a driving logs
  • Consider enrolling in a safe-driving program (apps, or other devices to monitor driving)
  • Follow the best safety practices
  • Shop around for the best rates
  • Maintain and service your vehicles regularly

Learn more at the cheapest commercial truck insurance companies

Best hot shot trucking insurance companies in 50 states and Washington DC

Hot shot trucking insurance is a type of commercial truck insurance, that is the reason why you sometimes see another similar term, commercial hot shot trucking insurance. 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 hot shot trucking insurance companies in your particular state, we haven’t done enough research to figure out that level of specifics. 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:

AlabamaHawaiiMassachusettsNew MexicoSouth Dakota
AlaskaIdahoMichiganNew YorkTennessee
ArizonaIllinoisMinnesotaNorth CarolinaTexas
ArkansasIndianaMississippiNorth DakotaUtah
DelawareLouisianaNevadaPennsylvaniaWest Virginia
District of Columbia (DC)MaineNew HampshireRhode IslandWisconsin
FloridaMarylandNew JerseySouth CarolinaWyoming

How to start a hot shot trucking business?

Starting a hot shot trucking business involves eight crucial steps.

  • First, get a Driver’s License or Commercial Driver’s License (CDL), depending on the type of hot shot truck you plan to operate.
    • Commercial Driver’s License (CDL) requirements for hot shot trucking depend on the Gross Vehicle Weight Rating (GVWR) of the truck and trailer. If the combined GVWR of the truck and trailer is 26,001 pounds or more and the trailer’s GVWR is over 10,000 pounds, a CDL is required.
    • However, if you’re operating a smaller hot shot rig – a pickup truck pulling a smaller trailer that together have a combined GVWR under 26,001 pounds, and the trailer’s GVWR is under 10,000 pounds – then a CDL is typically not required for your hot shot trucking busniess. It’s important to note that these are federal regulations and some states may have additional or more restrictive rules. Always verify with your state’s Department of Motor Vehicles (DMV) or equivalent agency to make sure you are in compliance.
    • The GVWR of your truck determines if you hot shot trucking business is subject to DOT regulations on hot shot trucking or not.
  • Second, obtain your Medical Card, a requirement for commercial drivers
  • Third, secure hot shot trucking insurance to protect against potential liabilities. Hot shot trucking insurance typically requires several coverage types to fully protect the business and meet federal and state regulations:
    • Primary Liability Insurance: This is mandatory for all truckers, including hot shot truckers, as it covers the cost of damages or injuries to other people in an accident where you’re at fault. The Federal Motor Carrier Safety Administration (FMCSA) requires a minimum coverage of $750,000, but many brokers require $1,000,000.
    • Physical Damage Insurance: This coverage pays for repair or replacement of your truck and trailer if they’re damaged in an accident, whether it’s caused by a collision, fire, theft, or vandalism.
    • Cargo Insurance: This coverage protects the goods you’re transporting in case they get damaged or lost. The amount of cargo insurance needed depends on the type of goods you’re hauling.
    • Non-Trucking Liability Insurance: This coverage applies when you use your truck for non-business purposes. It covers damages and injuries you cause when you’re not under dispatch.
    • Bobtail Insurance: This covers your truck when you’re driving without a trailer or without a load, whether you’re under dispatch or not.
  • Fourth, get your Motor Carrier (MC) Number or Operating Authority for interstate operations.
  • Fifth, register your business with the state to legitimize your operations
  • Sixth, purchase the appropriate equipment, including your hot shot truck and essential gear for hauling. Here is our recommended hot shot trucking starter kit for your consideration.
  • Seventh, find loads through reliable load boards that suit your operations. Finally, the eighth step is to start driving and commence your hot shot trucking venture.

How much does it cost to start a hot shot trucking business?

Starting a hot shot trucking business requires a significant initial investment, though the exact cost can vary widely depending on several factors. The most substantial expense is typically the cost of the truck and trailer, which can run between $10,000 and $40,000 for used equipment, or well over $100,000 for new. Essential equipment, such as tie-downs, tarps, and navigational technology, can add an additional $1,000-$3,000 to the initial setup costs. Insurance is another crucial expenditure, with costs ranging from $6,000 to $12,000 per year, depending on a variety of factors such as driving history, credit score, and the nature of the loads carried. Load boards, which connect drivers with cargo, typically charge a monthly subscription fee ranging from $35 to $150. Finally, various licenses, permits, and registrations can add a few thousand dollars more to the startup costs.

Learn more at our comprehensive guide of hot shot trucking startup cost for your consideration if you are planning to start a hot shot trucking business.

Final thoughts

Hotshot trucking is an excellent form of insurance for truckers in the United States. You can get exceptional coverage and reasonable premiums if you do a bit of searching and compare a few quotes. Plus, in many cases, you can add other forms of needed business insurance to protect yourself on many fronts at once.

Thang Truong

Thang Truong covers small business insurance and small business success at BravoPolicy. He is a licensed P&C insurance agent. Previously, he held product leadership positions at realtor.com, Capital One, NerdWallet, and Mulberry Technology. He holds a MBA degree from UC Berkeley - Haas School of Business.

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