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Best Providers of Trucker Insurance for 2022

As a trucker, you need to have insurance that protects you. Insurance is designed to protect you in the event of an accident. However, insurance works a little differently for truckers. Rules are different for owner-operators and those who work for others. 

How to find the best trucker insurance companies

Today, it’s relatively simple to find an insurance quote online. Individual companies and aggregators provide online quotes with just a few clicks of the mouse. An aggregator, like CoverWallet or Simply Business, will take some simple information from you and then look for quotes from several providers that they work with. These would help you compare several quotes to choose the cheapest one for you conveniently.

Often, an aggregator is the least expensive way to purchase the insurance coverages you need or want. This is because they can compare various quotes from different companies for the same coverages. 

When you ask for trucker insurance quotes, make sure you compare equal coverages. That will give you a more accurate picture of what to expect. Other options include getting online quotes from individual companies like Progressive or calling a local agent.

The best insurance companies for trucker insurance

Whether you’re a for-hire over-the-road driver or you are an owner-operator, you need insurance that will cover you for any unforeseen mishap on the road. Some insurance companies specialize in trucker insurance. Here is a list of some of the top companies offering trucker insurance.

  • Progresive
  • CoverWallet
  • Sentry
  • The Hartford
  • State Farm

Our list includes individual companies and an aggregator. Of these companies, Progressive and Sentry are our top picks. Progressive makes the list because they have a range of products for truckers. Sentry is best for individual owner-operators.

When purchasing trucker insurance, one thing to be aware of is that not all companies cover all 50 states. You want to make sure the company you choose covers your home state as well as anywhere you travel. Compare companies based on the coverage rather than price.  

Trucker insurance requirements

Trucker insurance has some specific requirements. The Federal Motor Carrier Safety Administration (FMCSA) requires all truckers have insurance coverage. Specifically, they require that trucker insurance be a minimum of a personal liability policy with $750,000 minimum coverage. 

The minimum may be $750,000 coverage, but many shipping companies require that truckers carry a minimum of $1,000,000 or they refuse to work with the trucker. Trucker insurance for those who transport hazardous materials requires a $5,000,000 coverage minimum. 

The government requires personal liability insurance, but they don’t require anything else. It’s wise to purchase more than the minimum coverages to protect yourself. Liability insurance takes care of other people so you might want additional coverages beyond your personal liability insurance. 

Is a personal auto policy good enough for trucker insurance?

A personal automotive policy is not the same as a trucker insurance policy. A trucker needs to have an individual policy as well as trucker insurance. The policies are two different kinds of policies. 

A trucker’s insurance policy is a commercial policy. A personal auto policy is for private autos. Individual policies don’t cover commercial vehicles. 

So, if you want to drive your rig, you’ll need a personal liability policy under a commercial truck policy to meet the minimum requirements for trucker insurance. That policy won’t cover you, though. It will only take care of damages to someone else’s vehicle or property or their injuries. 

What other insurance does a trucker need?

To be fully covered and protected, a trucker also needs other insurance. You can get by with just a personal liability policy, but if that’s the only coverage you have, you risk losing your livelihood in the event of an accident. Let’s look at add-ons to trucker insurance that you will likely find beneficial. 

Cargo insurance

The goods you haul are covered by cargo insurance. The FMCSA doesn’t require cargo insurance, but you should invest in it if you are a for-hire trucker. Most shippers expect truckers to have cargo insurance. The usual limit for cargo insurance is $100,000. Your cargo will determine the limits you actually need. Learn more at the best motor truck cargo insurance companies.

Bobtail insurance:

You may still need bobtail insurance if you are an owner-operator and already have primary trucking liability insurance. Because primary trucking liability insurance doesn’t cover you if you drive your truck without a trailer attached to it. Bobtail insurance covers you in this case. After dropping a load and the trailer at the warehouse, you drive your truck with no trailer attached to it back to the garage and get into an accident. Without bobtail insurance coverage, you will have to pay everything out of your pocket. Learn more at the best bobtail insurance companies. Many people also confused bobtail insurance with non-trucking liability insurance. They are similar but have some different nuances. Learn more at the best non-trucking liability insurance companies.

Trucking physical damage insurance:

As a trucker, you want to ensure everyone is protected, but you want to protect yourself. If you finance your truck, you will be required to have physical damage insurance to protect the interests of the finance company should anything happen to you on the road. A trucker who owns their own truck will find this trucker insurance an intelligent investment. Learn more at the best trucking physical damage insurance companies.

Workers comp insurance for truckers

If you hire truckers as full-time employees, you will need to provide them with workers comp insurance. It is required by laws in all states, except Texas. If you hire truckers as independent contractors, you may not need to provide them with workers compensation insurance since it isn’t required of you. However, you should consider it. Truckers have one of the most high-risk job. Without workers comp insurance, if truckers get injured or become ill while doing their work, they have to cover for themselves out of their pockets. If they get upset, they can sue you as well. Learn more at the best workers comp insurance for truckers.

Occupational accident insurance for truckers

If you hire truckers as independent contractors, instead of workers comp insurance, you can provide them with occupational accident insurance. This is a less comprehensive form of workers comp insurance. It is designed primarily as a workers comp insurance replacement and very popular in the trucking industry. It is usually half the cost of workers comp insurance. Learn more at the best occupational accident insurance for brokers.

If you are an individual owner operator, you can choose to buy either workers comp insurance or occupational accident insurance to protect yourself.

How much is the average trucker insurance cost per month?

Your average trucker insurance cost per month depends upon insurance company policies and state regulations. Every insurance company has their own underwriting engine and offers different quotes. The amount of coverage and the kind of policies you have also affect your insurance costs. A typical trucker insurance policy costs between $500 and $2,100 per month.

The average trucker insurance cost per month depends on the coverage types.

CoveragesMonthly average semi truck insurance cost
Primary trucking liability$500-$1,500 a month
Non-trucking liability$25-$50 a month
Occupational accident insurance$140-210 a month
Workers comp insurance$200-450 a month
Physical damage coverageVaries, depending on the value of the semi-truck, usually $100-$300 a month
Motor truck cargo insuranceVaries, depending on the cargo type, usually $50-$150 a month

These are just the averages. Be sure to shop around with a few companies or with a broker like CoverWallet or Simple Business to compare several quotes to find the cheapest one for you.

Conclusion

Trucker insurance has personal liability insurance for its base. Then you build upon that base to have a comprehensive policy. The best way to find the policy you need is to shop online. 

Shopping online allows you to look at multiple policies from multiple agents or brokers from the comfort of your own home. A broker will shop numerous policies at once with a single input of data. Often, this is the easiest way to get the best rates. 

You have to have trucker insurance to be able to operate your truck. You are required to have a minimum of $750,000 of personal liability insurance. However, it’s a good idea to add to the liability policy to ensure you are well protected. 

It’s important to choose insurance that will cover you both in the state you are dispatched from and the states you travel to. Not all insurance companies cover all 50 states. You’ll want to consider cargo, bobtail, and physical damage insurance. These coverages will help protect you if you are involved in an accident while you’re out on the road. 

Trucker insurance isn’t the same as personal automobile insurance. You should choose a company specializing in trucker insurance to help guarantee you get the best coverage for your situation.

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