Truckers are exposed to many risks on the road. If you employ independent contractors to drive your trucks, you need occupational accident insurance. This type of insurance covers a driver for any injuries sustained while performing their work. It’s like workers’ compensation insurance, only for drivers not otherwise covered. Here are the five companies we recommend.
- InsureMyRig: Best for online quotes
- Great American Insurance Group: Best Overall
- Zurich: Best for Vocational Retraining
- Owner-Operator Independent Drivers Association: Best for member benefits
- Simply Business: Best for comparing several quotes
InsureMyRig: Best for online quotes
InsureMyRig has been providing commercial trucking insurance since 1934. They insure any size fleet, and they insure both owner-operators and own authorities. You can either get an online quote from InsureMyRig or you can call and speak to an agent. Prices start as low as $30 a month. If you need short-term or temporary insurance (if you just purchased a truck and need to drive it to the carrier to sign the lease) they can provide that as well.
To get an online quote, you’ll provide:
- Name, address, phone, email
- CDL #
- Truck VIN #
- Value of truck
- Years of driving experience
- # Of violations in the last three years
Great American Insurance Group: Best Overall
Great American Insurance Group offers flexible polices to cover a wide range of limits. They also can provide more protection for maladies specific to long-haul truck drivers, such as hernias, cumulative trauma, and more. Plus, an assigned nurse case manager will support you and help get you back on the road as quickly as possible. They have 110 years of experience, and a strong financial strength rating. They are also endorsed by the National Truckers Association.
Most states offer two plans:
- Plan A: $147 a month owner operator plan, per month, per driver, for $1M in coverage
- Plan B: $126 a month, per driver, for a $500,000 policy
Zurich: Best for Vocational Retraining
Zurich provides a broad range of coverage for both independent truckers and owner-operators. They can also make truck payments for injured drivers who are unable to work and are struggling to make the payments and can provide for vocational retraining if an injury prevents you from returning to trucking.
They have a 90% customer retention rate since 2018, so it seems most customers are satisfied with their service.
Owner-Operator Independent Drivers Association: Best for member benefits
The Owner-Operator Independent Drivers Association represents the issues of independent drivers and other truckers on all issues. They were founded in 1973 and all of their officers either are truckers or were truckers.
As long as you are a member in good standing (i.e., up to date on dues) can obtain a $500,000 occupational accident insurance policy for $130.50 a month. There is no coinsurance and no deductible, plus it pays up to $10,000 for covered medical expenses for a non-occupational accident.
Membership in the OOIDA is $45 a year. They lobby politicians and lawmakers to make things safer for truckers.
Simply Business: Best for comparing several quotes
Simply Business is an online insurance broker. They cover many different types of businesses and partner with several leading business insurance companies such as Travelers, CNA, Hiscox, biBERK, Markel, etc. One of their industry focus is trucking businesses. The main advantage of working with Simply Business is that they are able to help you get several quotes from their partners so that you can compare to choose the best one and the cheapest one.
Simply Business is known for its excellent customer service. While they are not included in the JD Power ranking since they are not an insurer, they earn an average rating of 4.1 from 1,811 reviews and ratings on Trustpilot. 71% of their customers rated their service quality as “excellent”.
What is occupational accident insurance for truckers?
Since many truckers are independent contractors, they’re not covered under workers’ compensation insurance. Most state laws don’t require companies to provide workers comp insurance for independent contractors. Instead of workers comp insurance, companies that hire independent contractors can provide occupational accident insurance. It is similar to workers comp insurance, but a bit less comprehensive and it is not required by state laws.
Occupational accident insurance provides medical coverage in the event a trucker is in an accident. It also provides disability benefits including lost wages, survivor benefits, and death benefits for spouses. Some policies provide vocational training, just in case a trucker cannot return to truck driving due to an injury or illness. Some policies also provide truck payment support if truckers are injured and can’t work for some period.
Since truckers are independent contractors, unlike workers comp insurance, occupational accident insurance is not required in any state. Some leasing companies require their drivers to purchase their own occupational accident insurance, or a driver can purchase it independently if he owns his own rig. Learn more why occupational accident insurance is very popular among the trucking businesses.
Truckers can purchase workers comp insurance for themselves as an independent contractor if they choose to. It will be more expensive than occupational accident coverage, but it is also more comprehensive. If you are interested, learn more at the best workers comp insurance for independent contractors.
Why is occupational accident insurance for truckers important?
In 2022, the words “supply chain issues” have plagued many consumers, who struggle to find toilet paper, cat food, avocados, or any of the other things we take for granted. Truckers are responsible for moving 80% of the nation’s cargo—without truckers, the grocery shelves would be empty.
Truckers have a fatal workplace injury rate about seven times higher than any other occupation. They also suffer non-fatal injuries and illnesses at a higher rate than average. Truckers who can’t work might struggle to support their families or make payments on their trucks. Also, since the average age of a truck driver is 50, they are more vulnerable to injury than other segments of the population.
It is extremely critical that all trucker have occupational accident insurance to protect themselves.
What does occupational accident insurance for truckers cover?
Occupational accident insurance covers most of the same things that workers’ compensation insurance does, such as:
- Medical expenses
- Lost wages
- Death benefits
- Disability insurance
If you run a trucking company, offering occupational accident insurance can benefit you in a few different ways. Truckers may be more likely to contract with you since they know they are protected. Truckers will be less likely to sue you if their medical payments and other needs are taken care of. This could save you a great deal of money in the long run.
Is there anything occupational accident insurance doesn’t cover?
Depending on the policy, certain injuries or diseases may not be covered. Most of them will not cover the following:
- Suicide or suicide attempts
- Any accident incurred while the driver was under the influence of drugs or alcohol
- Any accident that occurs in the commission of a crime
- Anything that can already be claimed under a workers’ compensation policy
Check with your company’s policy because there are some differences in what some companies will cover. Some may cover hemorrhoids or repetitive stress injuries, and some don’t.
How much does occupational accident insurance for truckers cost?
The good news is that occupational accident insurance for truckers is quite affordable. The cost is largely dependent on the coverage limits of the policy, ranging from $125-$150 a month.
|Occupational accident insurance coverage limits||Occupational accident insurance costs|
|$500,000 coverage limit||$127/month|
|$1,000,000 coverage limit||$147/month|
What other truck insurance coverages a trucker might need?
To operate a truck, a trucker will need the following insurance coverages:
- Trucking primary liability coverage: This is required by all state laws. It covers injuries to other people and damage to the property of others that occurs because of an accident when you’re found to be at fault. Learn more at the commercial truck insurance: cost and coverage
- Physical damage insurance covers damage to your truck — or losses related to it — no matter who’s at fault. Physical damage insurance comes in two parts. Learn more at the best trucking physical damage insurance companies.
- Collision coverage pays for damage to vehicles that’s caused by an accident.
- Comprehensive coverage covers non-collision related damage from things like vandalism or fires. It also protects you if your truck is stolen.
- Cargo Insurance pays for damage done to cargo while you’re hauling it. Learn more at the best motor truck cargo insurance companies.
- Non trucking liability, covers injuries to others or damage to the property of others caused by your vehicle when you’re driving for personal reasons or not hauling cargo. Learn more at the best non-trucking liability insurance companies.
- General liability, which covers injuries that happen to visitors to your business property (for instance, your office or garage) related to things likes slips and falls. It also covers damage you cause to other people’s property while conducting business, but not while driving your truck. For instance, you knock over someone’s computer while loading your truck at their business location. Learn more at the best trucking general liability insurance companies.
Truck drivers assume huge risks when they head out to deliver goods to the nation’s grocery stores and retail stores. Occupational accident insurance gives truckers some protection against accidents or injuries, so they can get back on the road.
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