hot shot trucking insurance

Hot shot Trucking Insurance: 8 Useful Info You Must Know

The term Hot shot Trucking Insurance used to refer to insurance coverage for heavy super-duty pickups that expedite the hauling of freights. They are different compared to standard rig drilling. For instance, a company that needs to accelerate the delivery of its equipment can use hot shot truckers. Hotshot trucks are for expedited emergencies or shipment carrier that require less than an hour.To protect the risk of this sort of sophisticate shipments, trucking expediters are involved in hot shot insurance.


However, over the last few years, it has become a very demanding and competitive business, necessitating the need to understand the insurance requirement. Hotshot truck businesses must have hotshot trucking insurance.

#1. Coverages Available for Hot shot Truckers

There are several insurance coverages for hotshot trucks in local state for potential clients. Here is detailed information about some of the coverages available offered by different insurance carriers:

Cargo Coverage

In case of fire, theft, or collision, this coverage will be helpful, especially if the hotshot load is damaged. The goods can suffer damages that need to be covered.

Auto liability

This coverage comes in two insurance options: property damage liability and bodily injury liability. The auto coverage ensures it covers you if you are at fault and legal expenses need to be covered. Property damage insurance will cover replacements and repair of the other driver’s car while the bodily injury liability will cover the cost of the other driver’s medical bills.

Medical Insurance payment

This kind of coverage ensures that in case of an accident, you need to cover medical costs. However, this kind of coverage will include the costs.

Physical Damage

It comes in two options: comprehensive and collision coverage. Collision coverage has been designed to protect your trailer and truck when involved in an accident or a crash. The complete option covers damages due to fire, theft, and any other costs which are not collision.

Earned freight

This coverage will help you when you cannot deliver loads due to accidents.


This will help in paying for downtime costs in case your truck is damaged in an accident.

Lease/Loan Gap

Whenever your car is totalled, and you owe more on your loan higher than the value of the vehicle, this coverage will come in handy.

Family Emergency Expenses

If you are injured when you are away from home, this coverage will mile pay up to $2,500 for expenses incurred for family travel.

#2. Limits and Deductibles

According to many shippers and the recommendation of the commercial auto policy, the legal limit for cargo insurance starting from $100,000. However, when hauling cargo whose value is higher than $100,000, you should get additional coverage. Restrictions on other coverages are based solely on other insurers and the blankets. Deductibles are different. The higher the deductibles are, the lower the premium rates. Please go through the respective terms before find your desired well chosen policy.

Also Read : What Is Commercial Truck Insurance

#3. Hot Shot Trucking Insurance Requirements

Hot Shot Trucking insurance

Hot Shot Insurance requirements vary depending on different factors, brokers, shippers, truck driver, and states. But here are some standard requirements:

  • Physical damage coverage for your truck and trailer
  • Cargo coverage to protect commodities being hauled.
  • Permanent Trailer Identification for the trailer and International Registration Plan for the truck
  • A commercial Driver’s License (CDL)
  • BOC-3 and MCS-150 for beginners

#4. Cost Modifiers

Hotshot truck insurance costs vary depending on different factors. Some of these factors are:

  • The kind of coverage
  • Deductibles your truck has
  • Nature of your business/industry
  • Class of truck driven

On average, cargo insurance policy costs as low as $5,000 each year. However, this figure differs based on the kind of business you run. Each business requires a unique type of coverage.

Also Read: Dollar A Day Insurance

#5.How To lower cost of hot shot specialty trucking insurance

If you want to lower the cost of the coverage, you must start work that you have a Commercial Driving License (CDL). Especially CDL with experience will ensure you pay less on your cargo insurance policy.

However, the best way to lower cost is to ensure you have different agents to discuss claims so that you can come up with the lowest price. Also, explore the option of getting a discount to reduce your cost.

#6. Cost of different required coverages

Different coverages have different costs depending on the kind of prices they cover. An earned freight cover is cheaper than an auto liability coverage.

Business Liability

load broker and shipper will need $1,000,000 of debt before they can release a load

Cargo coverage

will require $100,000 cargo limit. However, this may differ depending on the load broker and shipper

Physical damage coverage

it does not have a specific amount, because most of the insurers will assess the kind of haul damage caused and determine how much is needed.

The best way to lower hot shot truck premiums, the cost is to get three quotes from different agents. This is because finding the best quote on your own turns out to be a complicated task. With three quotes, agent for an insurance company will be pitching to compete for you to procure their services

#7. Hot shot Truck insurance sample quote 

Fleet size:…………………………………………………..3 trucks


Equipment Value (truck and trailer)………….$89,000

Commodities hauled………………………………….Perishable goods

The number of claims in the past five yea….One

Down payment………………………………………………….$5,000

Pay Plan……………………………………………………..15 instalments each @ $1,600

#8. Hot shot companies to lease on with

You can lease with any of the following hot shot companies:

  • Cheetah hotshot company
  • ACME Truck Line Hotshot Company
  • Houston Hotshot Trucking Company
  • JF Express Fr8, Marysville-Ohio
  • Spectrum Brand Hotshot Trucking Company
  • Hazel’s Hotshot Company- Houston, TX


What kind of insurance should I procure for the hotshot trucking business?

– There are different insurance coverage. The choice job will depend on the nature of your business and different requirement by shippers and freight brokers.There are different EMI option like monthly payment,quarterly etc.

Do I need hot shot truck insurance?

-Yes, it is a must, because it is illegal in many states to expedited freight without insurance.

How much does it cost for hotshot insurance coverage?

-There is no definite price for hot shot truck insurance because different coverage cost differently.

What are the requirements?

– Some of the commonest requirements are Physical damage coverage for your truck and trailer, Cargo coverage to protect commodities being hauled.

Do I need to have a Commercial Driving License to offer hotshot services?

– Yes, it is a necessity.

How can I lower the cost of my hotshot insurance?

– The best way to lower cost is to ensure you have different agents to discuss claims so that you can come up with the lowest price. Also, explore the option of getting a discount to reduce your cost.

 In the insurance, is the driver covered in case of an accident or collision?

– Yes, the driver/rig crew is covered in the course of accidents or collisions.

Do I need hotshot coverage?

Based on the coverage option above, you cannot afford to miss having one of these coverages. Most of the time paying for damage costs due to accidents, thefts, and vandalism would be difficult if one does not have insurance. 

You also need insurance for your shippers and brokers. Finally, it is illegal to expedite hot shot freight without insurance in many states.

Wrap Up

If you are a hotshot truck owner, whenever you are on freight, your commodity is deemed to face risks. Some of the risks could be accidents, collision, theft, and vandalism, or even one’s fault. It is therefore essential for you to ensure you get the best hotshot insurance for your truck and trailer.

In getting insurance service, ensure you get three agents. This will help ensure that you get the right and affordable insurance company for you.


Leave a Comment

Your email address will not be published. Required fields are marked *