Below are some of the more frequent questions we receive as an agency. If you have a specific question please do not hesitate to give us a call or email.
Trucking FAQs
Think of your trucking insurance premium on a risk meter. The more potential risk an insurance carrier views the higher the premium. Here are the major factors when a carrier determines your rate:
- Your Drivers History:Â A clean driving record in any case will help you secure a much lower rate v.s a driving record which has a history of accidents, violations, and more.
- Business Timeline:Â How long you’ve been in business is a huge factor to determining the premium price. In most cases, businesses with over 2 years will receive a much lower premium than businesses that have less than 2 years.
- Cargo:Â What you haul in your truck and how heavy it is being hauled will impact the risk level which will change the premium.
- Location + Operating Radius:Â The longer the operating distance the higher the premium will usually be. Longer distance means more risk because a driver has an increased risk of accidents, falling asleep behind the wheel, loosing focus on the road, and changing weather conditions throughout different areas.
- Vehicle Type:Â Â The heavier the truck, the more the premium will increase. Heavy truck means more risk in event of an accident.
Commercial truck insurance rates are high because insurance companies know that there’s a higher risk of injury and accidents.  Why have the rates risen in the past decade? US Commercial truck insurance rates have risen dramatically over the past few years due to the numerous cases of accidents caused by commercial trucks due to inattentive driving as well as a decreased supply of drivers.
All insurers charge different rates for new trucking companies and owner-operators. You are legally allowed to start a trucking company without a CDL, but if you plan on driving the truck, it is a requirement to have a CDL. Premiums are generally higher when it is not owned by an individual who drives.
Doing your research upfront, taking good care of your truck, and looking for the least expensive coverage available are three ways to save money on trucking insurance.
- Keep your driving record extra clean to get better rates on your auto insurance policy.
- Look into other cheaper options outside of traditional captive insurance agencies. We are an independent insurance agency which means we can quote from a variety of insurance carriers.
Other factors in premium include what you’re hauling, driving radius, time in business, # of trucks, type of trucks, tickets/accidents, the driver(s) history and experience.
Typically, a trucking company will be insured for these lines of coverage: Auto Liability, General Liability, Physical Damage, Motor Cargo Coverage, Comprehensive/Collision Insurance. Contact us at 331-240-1101 for more information about protecting your trucking firms assets.
A claim will affect your premium differently based on the covered riders and the severity of loss. On average, 3 years.
Typically filings are done the same day or within 24 business hours.
Commercial Auto Liability is focused exclusively on the risks of owning a truck, while general liability policies focus on protecting a company from risks that could impact the business in any manner. Commercial Auto liability typically covers property damage and bodily injury to drivers, passengers in your car, pedestrians, and others.
General liability protection covers bodily injury to anyone who could sue your company: customers and other guests (walking through the lobby), contractors, and vendors doing work for you.
It typically takes 24-48 hours to get a quote and be covered. Once you decide which plan is best for your trucking needs, we can help you through the application process.
Even if you have been driving for years, opening your own business is a different ball game in insurance carriers eyes. Your CDL experience will impact your rate, but the time in business will also be a big factor, which means if you are a recently new business, your rates will be similar to other new businesses.
We would be happy to assist you with these questions. You can call us at 331-240-1101, or fill out the contact form and we’ll get back with you right away. Additionally, you can visit our claim center page for more information.
Yes, a cancellation can be done at anytime before the renewal period. What happens if I paid in advance? If you paid your premium in advance and cancel before the end of term, then insurance companies will refund the remaining balance. If you decide you want to get insured again, you will have to purchase new coverage.
Your commercial trucking insurance rate is impacted by your personal driving record if you are an owner-operator with a CDL. A professional driver’s license means that any accidents or violations on the road will also affect how much it costs to insure your company’s vehicles
Certificates (COIs) FAQs
Yes, you can add additional insureds to your General Liability policy. This is often required by clients or business partners to extend your policy’s coverage to them for claims arising out of your business operations.
While certificate holders are allowed to access policy information, and (in most cases) are informed of any changes, only an Additional Insured endorsement makes it so that the insurance actually applies to you. This becomes important when your business is sued for a contractor’s mistakes.
Claims FAQs
To file a claim, contact your insurance provider as soon as possible. Provide all necessary details about the incident, including date, time, location, and any involved parties. Your provider will guide you through the process and handle the claim investigation.
This comprehensive overview should help you understand the importance of General Liability Insurance and how it can protect your business. If you have any further questions, feel free to reach out to us.
This is not an easy answer. Different insurance companies will have different formulas on determining your insurance premium; one of which can be claim frequency and severity. It is our recommendation to discuss your specific claim with our claims manager to see if turning in a claim makes sense.  However, all possible liability claims need to be turned in; as the insurance company needs to be put on notice.
An adjuster is a representative of the insurance company that helps settle a claim. They are not employed by us. We do not settle claims as this is done by the adjuster. However, we will assist in making sure a covered claim is paid fairly and promptly.
Hired & Non-Owned Auto FAQs
A personal auto policy typically does not cover business use of your vehicle. HNOA provides the necessary liability coverage for business-related driving of non-owned vehicles, filling the gap left by personal auto policies.
Yes, HNOA provides liability coverage when you use your personal vehicle for business tasks. However, it does not cover physical damage to your vehicle.
Yes, HNOA can often be added as an endorsement to an existing commercial auto or general liability policy, providing an additional layer of protection.
Yes, even occasional use of non-owned vehicles for business purposes can expose your business to significant risks. HNOA provides essential coverage for these scenarios.
HNOA does not cover physical damage to the hired or non-owned vehicle itself. For protection against damage to the vehicle, you would need comprehensive and collision coverage.