Commercial Truck Insurance Transfers Risk

Commercial Truck Insurance RatesPost Date August 15, 2012 – Commercial truck insurance has been identified as a vitally important requirement which contributes to the success of any trucking company.  Although this type of insurance coverage may take a very large slice of a company’s monthly cash flow, it’s vital a business like a commercial trucking company has the ability to transfer risk.  For this reason, it is important for us to consider the factors that affect the price of this particular type insurance policy.

Commercial Truck Insurance is vital to transferring business risk

Before anything else, let us identify the types of  commercial vehicles which need to purchase commercial truck insurance. This particular motor vehicle insurance is specifically underwritten to cover heavy weighted motor vehicles such as Tractors, Straight Trucks as well as light pickup trucks, cars, vans, and SUVs.  One of the most significant factors commercial truck insurance companies consider when rating different types of commercial truck insurance coverage is the driving history of the vehicle’s operator or owner.  This includes previous accident history. Whether the driver is at fault or not, insurers use this factor as to predict the probability that a driver might again be subjected to another at fault or not at fault accident.  The more accidents or incidents a driver has experienced, the higher the premiums to be paid by a trucking company.  Another factor which greatly affects the rates paid for insurance coverage is traffic violations.  Common sense will tell you the greater the number of violations any driver has – the higher the premiums can be.

The driver’s years of driving experience and his/hers age also  dictates commercial truck insurance rates. Drivers who are younger are believed to be much prone to accidents while operating a truck. The older more experienced driver will find their rates are more reasonable if not just cheaper.  We can’t forget about the truck’s value and condition.   When it comes to insuring the value of a commercial vehicle;  age and the truck’s condition is very important.

Last but not least is cargo. When a commercial trucking company moves the property of others, the company must take financial responsibility for it’s value.  This coverage is referred to as Inland Marine or  cargo coverage.  This type of commercial truck insurance is calculated by it’s risks for theft and its  mileage it’s to be moved.


Michael E. Dortch
President &  Managing Agent
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Commercial Truck Insurance

Why do you need commercial truck insurance?
Personal auto insurance policies only apply to vehicles intended for personal uses. As for vehicles used commercially, you will be required to have a commercial insurance coverage. can offer you three types of commercial truck insurance, namely: Private Carrier Insurance, Motor Carrier Insurance, and Owner Operator Insurance.

Private Carrier Insurance
This type of commercial truck insurance caters to businesses or companies that use their own trucks to haul goods. The coverage may include Liability Insurance, Physical Damage (Collision and Comprehensive), and Medical Payments.

Motor Carrier Insurance
This particular insurance is applicable for a truck-for-hire business. Mandatory coverage for trucks engaged in for-hire services is the Liability Insurance that must include Bodily Injury and Property Damage. Coverage may also include Physical Damage (Collision and Comprehensive), Medical Payments, Uninsured Motorist, and Motor Truck Cargo which will provide cover for the truck’s cargo.

Owner Operator Insurance
This type suits to independent truck owner-operator providing services to a motor carrier. Mandatory is the Liability Insurance consist of Bodily Injury and Property Damage. Other coverage that you may need are the Non-Trucking Liability, Physical Damage (Collision and Comprehensive), and Motor Cargo Insurance.

commercial truck insurance

What vehicles can be insured under commercial truck insurance? can offer commercial truck insurance to the following vehicles:

• Dump trucks
• Pickup trucks
• Garbage trucks
• Tank trucks
• Flatbed trucks
• Box trucks
• Hauler trucks
• Trailer trucks
• Semi-trailer trucks
• And many more…

For your particular commercial truck insurance needs, you may call toll free number, 800-807-0762.