Tractor Trailer Insurance – Top 5 Absolute Prejudices To Know

Truck owners need to find the best tractor trailer insurance for their business. It is, however, essential to understand that finding the best coverage is too easy. It is also worth noting that cheaper cover does not equate best. Choose value over price. Always ensure you get three quotes to ensure you get the best coverage for the trailer business

Insurance covers are an essential aspect of the freight business. The freight business has some uncertainties such as accidents, theft, vandalism, or even floods. Therefore, the insurance coverage will help settle some of the expenses due to these uncertainties.

Determinants of Commercial Tractor Trailer Insurance

Before we go into the details of how much trailer coverage costs, let us focus on some of the factors that determine its value. The price determined by the coverage you choose. Another factor is risk assessment; this is how much you expense the insurer.

The risk assessment is determined by:

  • List item
  • List Radius of operation
  • The worth of your trucks
  • The kind of freight hauled
  • Experience on CDL
  • The credit rating
  • Payment plan
  • The structure of the policy chosen

Type of Coverages Available

Once you have understood the factor that determines the price, the next part is to understand the options available for you. Coverages are in two categories: Own Authority and Leased Owner Operator

Coverages under Owner Authority are Primary Liability, Cargo, General Liability, and Physical Damage.

Primary Liability This coverage covers third party property damage and any physical injury that results due to truck accidents. It is necessary for drivers with authority and motor carriers.

Physical Damage  It covers damages to the commercial truck/ semi truck that are caused by natural disasters, collision, theft, and vandalism. Owner-operators need this kind of insurance.

General Liability  It covers third party damage on property and any bodily harm. Drivers with authority must ensure they have this insurance.

Coverages under leased owner-operator are: 18 wheeler insurance and non-trucking liability insurance

Bobtail insurance

This coverage covers third party damage when using your commercial truck for business purposes but not hauling loads. It is essential for drivers under a lease. Some of the instance that constitute are:

 An accident that happens on your way to picking a load.   An accident that occurs after dropping a load on your way to pick another.   Or an accident on the way home after making a delivery. 

Non-trucking liability insurance

It covers third party damages when you are using the truck for non-business purposes.  Drivers under a lease need this insurance.

Cost of different coverages

Tractor Trailer Insurance cost

There is an outline of the average Tractor Trailer Insurance cost of the different coverages discussed above:

Coverage                                                            Average Expense

Primary Liability……………………………………………. $5,000-12,000

Physical Damage……………………………………………$1,000-3,000

Bobtail Insurance …………………………………………..$350-600

General Liability …………………………………………….$500-800

Cargo Insurance …………………………………………….$400-1,200

Way to lower the Expense

Paying less in terms of insurance premium will save you money will ensuring that your driver and the truck are insured from damages and injury respectively. You can explore any of these available options to lower the premium of the insurance:


When discussing the budget of the insurance with the agent, ask if they offer any discounts. You will be surprised to find out that the insurance company will provide you with a discount for your clean driving record.

Higher Deductibles

If you want to lower the premium, you should request the insurer to give you higher deductibles. However, be very cautious, because it cost higher out of pocket expense whenever there is an accident. Make this your last resort.

Ask for fewer instalment

This means rather than paying monthly; you choose to pay the yearly instalment. This is not an ideal option for many truckers, because it translates to spending a considerable amount at one payment.

Get several options

Do not just choose the first insurance company that comes your way. There are multiple options available in terms of companies available in the market. This will help you lower the budget by choosing the cheapest option available.

Companies that you can lease coverage from

Progressive commercial – for owner-operators looking for some discount

Lancer insurance for long haul truckers looking for convenience

Hub International – if you want 24/7 roadside assistance

AP Intego – for motor carrier looking for pay-as-you-go insurance

Cover Wallet – if you get declined by other insurers, go to cover wallet.


1. What trucking insurance do I need?

The kind of commercial truck insurance available for you will depend on whether you are an own authority or leased authority operator

2. How much does it cost for tractor-trailer insurance?

Different insurers have different rates, and the cost relies on the kind of coverage obtained.

3. Is there an insurance option for lease owners?

Yes, there are two options, here is one and non-trucking liability insurance

4. The insurer covers me if I get involved in an accident on my way home after delivery?

Yes, under thisl insurance option, the driver is covered in case of an accident on their way back from a delivery

5. Is it possible to lower the price of insurance?

There are several options available, i.e. discounts, fewer installments, and getting three quotes.

6. Can I get commercial truck insurance quote online?

No, the agent needs to understand your business better before recommending the best option for your business.

After reading through the whole review, you are probably asking yourself the question; Is coverage necessary? Is trailer interchange possible? This ensures your business remains running even in the event of accidents or natural calamities.

There are so many insurance companies dedicated to ensuring that your freight business is protected and insured from accidents and collisions. Ensure that your tractor-trailer is insured from the reputed service provider.

Bottom Line

When looking for the best insurance for your tractor business, focus on the value from the coverage rather than the cost of the coverages. Work with agents available to ensure that you get value in the coverage option you choose. Whether you are an own authority operator or lease operator, there are enough options available for you.

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