Truck drivers often get injured on the job. In fact, truckers have one of the highest work-related injuries. Some of the most common injuries for truckers include:
- Accident related injuries
- Injuries from making roadside truck repairs
- Strains resulting from loading and unloading freight
- Injuries from slipping and falling when getting into or leaving a truck.
If you employ truck drivers, you could be responsible for paying healthcare and other expenses related to on the job injuries.
The good news: Workers’ compensation insurance will pay for them and more. If you have it, youre truck drivers and other employees will not be able to sue you if they’re injured or become ill for work related reasons.
In this article we’ll reveal the top 5 workers’ comp insurers for trucking companies and explain everything you need to know to secure coverage for your trucking company.
- 5 top workers compensation insurance companies for truckers
- Do all truckers need workers’ comp coverage?
- Do owner operators need workers’ comp?
- What does trucker workers compensation insurance cover?
- What are the workers’ compensation classification codes for truckers?
- How much does trucker workers compensation insurance cost?
- How can I reduce my trucker workers’ comp premiums?
- How to find cheap trucker workers compensation insurance
- How to file workers’ comp claims
5 top workers compensation insurance companies for truckers
Here are our 5 best workers comp insurance companies for truckers for different reasons:
- CoverWallet: Best for business owners looking to compare quotes quickly and easily
- biBerk: Best for low cost workers’ compensation coverage
- Cerity: Best for stand alone workers’ comp coverage for truckers
- Next: Ideal for trucking company owners who prefer to buy insurance online
- Pie: Best for getting a quick quote online
CoverWallet: Best for truckers looking to compare workers comp quotes quickly and easily
CoverWallet is a next-generation, yet highly-experienced, insurance provider. The company has developed its own state-of-the-art platform, using algorithms generated by the people who work for it, to ensure it’s able to supply small businesses with the workers comp coverage they need at the best possible price. The platform makes it fast and simple to get quotes from several providers, allowing restaurant owners to compare quotes on a single screen.
More good news: You only have to answer the questions about your trucking operation — and provide the information required — to generate quick and accurate quotes. You don’t have to waste time inputting things that don’t impact your premium cost. The entire process should take less than ten minutes from beginning to end. If your situation isn’t complicated, it could take less than five.
You can rest assured knowing that CoverWallet is a part of Aon, a well-known company that provides advice to businesses on things like risk, health, and retirement.
Once you get your quote, it’s easy to purchase a policy online or through an agent. When you get your workers’ comp coverage through CoverWallet, it’s simple to manage your policies online, including doing things like downloading a certificate of insurance, filing a claim, renewing your policy, and more.
In addition to all this, you can get other types of coverage through CoverWallet, so you can secure and manage all your small business insurance through a single provider.
biBerk: Best for low-cost trucker workers’ compensation coverage
biBERK is Berkshire Hathaway’s low-cost workers’ comp insurance provider. Even though you’re saving money on your trucker’s coverage with biBerk, you can rest assured knowing you are still getting quality protection for your drivers. biBERK is able to lower workers’ comp insurance costs by approximately 20 percent because it insures small businesses directly, without the added costs of having to work through a middleman or insurance broker.
Cerity: Best for stand-alone workers’ comp coverage for truckers
Cerity makes our list of top workers’ compensation providers because it specializes in the coverage. It currently does not offer a Business Owners Policy or other types of insurance. It’s a relatively low cost provider, yet delivers a high level of service. Policies start as low as $25 per month and the company has fewer fees than most insurers. Cerity makes it fast and easy to get a quote online.
Cerity isn’t low cost because it cuts corners. It actually uses artificial intelligence to up its efficiency. However, everything at Cerity isn’t technology based. When you require help, you will have access to a team of licensed policy and claims experts. You can rest assured knowing Cerity has been in business for more than a century and is rated highly by its clients.
Next: Ideal for trucking company owners who prefer to buy insurance online
Next is changing how businesses purchase food liability insurance and other coverage.
Their operation is focused on delivering the ultimate online insurance experience. Because of this, you’re able to purchase a policy, file a claim, or get a certificate of insurance any place, any time, 365 days a year. Even though Next is an online insurer, you can get expert help over the phone when you need it. The firm is also known for being able to make most claims decisions within 48 hours.
Even though Next is a relatively new and innovative company, you can rest assured knowing it has an excellent rating from A.M. Best, an insurance company rating agency. All the company’s policies are backed by MunichRe, an established insurance company and reinsurer. More than 10,000 business owners have turned to Next for their insurance needs. The firm has earned a solid 4.7 customer rating.
Pie: Best for truckers who want to get a quick quote online
Why is this insurance company named Pie? Because it makes getting workers comp insurance as easy as pie. They believe shopping for workers’ comp coverage and other business insurance should be as simple and accessible as buying other things online.
Pie has developed their own online insurance experience — from getting a quote to making a claim — from the ground up. The complete quoting process can take as little as three minutes and buying a policy takes just a few more.
Pie offers workers’ comp insurance to small businesses direct and it also partners with local, regional, and national insurers to also provide coverage through them. Their unique way of doing business, and the machine learning model they use to underwrite workers’ comp policies, makes it possible for small businesses to save up to 30 percent on coverage when compared with more traditional, old-school insurers.
Pie is what is known as an insuretech company. However, even though they have a novel way of doing business, you can rest assured knowing the insurance they offer is underwritten by Sirius Group, which has earned solid industry rankings. Pie also has very good customer service ratings and hundreds of positive online reviews.
Do all truckers need workers’ comp coverage?
Owning and running a operation with more than one drivers without providing workers’ compensation insurance coverage is illegal in all states except Texas. Visit your state’s workers’ compensation agency or bureau website to learn about your requirements for coverage.
If you don’t have coverage when it’s required, it could result in severe penalties, ranging from significant fines to stop work orders all the way up to prison terms.
Regardless of the state government requirement to secure coverage, having workers’ compensation insurance is always a smart business move. It protects trucking business owners from potentially costly employee lawsuits and settlements. As an added benefit, businesses can usually deduct their workers’ compensation premiums from their federal taxes.
Do trucker owner operators need workers’ comp?
If you own and operate your own truck, under your own authority, with no employees, then in most states its likely you don’t need to have a workers comp policy.
If you are an owner operator that leases onto a motor carrier then you may want to look into occupational accident insurance for truckers. Some motor carriers will require you to secure this coverage, others will provide it for you.
Even if workers’ comp isn’t required for owner operators, it may still be a good idea to get it. Think about it: Could you afford to pay for medical costs and an extended leave from work to recover out of pocket? For most independent truckers, the answer is NO, which is why they get coverage.
What does trucker workers compensation insurance cover?
Worker’s comp helps cover:
- Accidents and injuries: Workers’ compensation pays medical costs if an employee gets injured on the job
- Illness: If a worker is exposed to harmful chemicals or allergens while driving or in the garage that cause an illness, their medical care is covered by workers’ comp
- Lost wages: A work-related injury or illness often forces truckers to take time off. Workers’ comp helps replace the lost wages of injured or sick employees while they’re recovering
- Ongoing care: If a workplace injury or illness requires an employee to get ongoing care, such as physical therapy, workers’ compensation will pay for the treatment
- Funeral costs: If an employee passes away because of a work-related incident, workers’ comp pays funeral costs up to a certain limit
- Repetitive injury: If a worker is injured because of ongoing repetitive job related strain, such as carpal tunnel syndrome, workers’ comp will pay for therapy
- Disability benefits: If an injury is so severe an employee never returns to work, or doesn’t for a long time, workers’ comp will pay medical costs and some lost wages over the long term.
What doesn’t workers compensation insurance cover?
Workers’ compensation insurance does not cover things like:
- Injuries to independent contractors, clients, or customers
- Employees who are intoxicated or high when they’re injured
- Wages for temporary employees while recovering from a work-related injury
- OSHA fines
- Injuries that occur after an employee has left work
- Vandalism or intentional injuries.
How is workers compensation insurance different than general liability insurance?
Workers comp only covers people who work for you. If a client, customer, or random person is injured at your workplace or job site, general liability insurance will cover it. General liability covers bodily injury and damage caused by you or an employee to someone else’s property.
What are the workers’ compensation classification codes for truckers?
A big part of the rate you will pay for workers’ compensation insurance is how your operation is classified based on workers comp codes. The insurance companies use the following class codes. Make sure you are classified correctly so you don’t pay too much for your coverage or get too little protection.
- 7219 – Local and Long Haul Truckers Workers Comp. This is a catchall for most types of truckers.
- 7228 – Local / Short Haul Trucking Workers Comp. If you haul goods for other people and travel less than 200 miles per run, this could be the best code for you. It could end up saving you money if you qualify. Dump trucks and towing operations typically fall under this code.
- 7229 – Long Haul Trucking Workers Comp. If you haul goods for other people and usually travel more than 200 miles from your garage location, this is most likely the right code for you. Your workers’ comp will cost you more, but you’ll have adequate protection for your drivers.
- 7230 – Trucking: Package or Parcel / Delivery Drivers Workers Comp. This class covers most operations that deliver packages from retail operations, real world and online, directly to consumers.
- 7231 – Mail Delivery and Couriers Workers Comp. This is another category that may be applicable for package delivery services.
These are the most common workers comp trucker codes. Make sure you do not get misclassified when getting quotes.
How much does trucker workers compensation insurance cost?
Workers comp premiums are mostly a function of the number of drivers you employ and how much you pay them. Workers compensation for most truck drivers will usually range from 8 to 15 percent of their salary.
According to Glassdoor, the average truck driver salary in 2021 is $58,000. The cost of workers comp insurance per truck driver would therefore range from approximately $4,600 to $8,600 per year.
The factors that lead to this large disparity include:
- Whether or not truckers load and unload freight — or never come into contact with it
- Your truck drivers haul hazardous materials
- State where your trucks are garaged
- Operation class code
- Company claims history
- Area your business operates in (local or long haul)
- Years of experience
- Insurer providing quote.
The one way to know how much you’ll have to pay for workers’ comp coverage is to get several quotes from different providers and compare them. It’s the only way you’ll know your getting the coverage you need at a fair price.
How can I reduce my trucker workers’ comp premiums?
Start by conducting a review of your operation, looking for ways to improve safety so truckers are less likely to get injured on the job.
Do things like requiring drivers to wear protective, non-slip footwear while a driver is behind the wheel and unloading cargo. Wearing the proper shoes will also help prevent stress injuries. Also, keep trucks in good working order to prevent breakdowns necessitating roadside repairs. Incentivize drivers to use safe driving practices. All these thing could help lower workers’ comp premiums.
Talk with your insurance agent or company rep about other things you can do to mitigate your risks. The lowest cost way to save on your insurance is to prevent injuries in the first place.
Finally, get quotes from several insurers and compare them to ensure your getting the right coverage at the best possible price.
How to find cheap trucker workers compensation insurance
In most states, except for Ohio, Wyoming, Washington and North Dakota which require that businesses purchase workers’ comp through a state fund, businesses are able to choose their own workers’ comp insurance provider. You owe it to yourself to compare coverage and costs from several insurers. They have different ways of calculating premium costs and you will likely find a range of prices. You can select one that offers you the coverage you need at the best possible cost.
How to file workers’ comp claims
You should be able to find everything you need to file claims on the workers’ comp page of your insurance company’s website or state fund’s site. If a claim is rejected by an insurer, it can usually be appealed through a state’s workers’ compensation agency or department.