Slash Your Stress with Trucking Insurance Compliance Made Easy
The Components of Trucking Insurance
Trucking insurance is not just a single policy but a combination of several types of coverage designed to protect different aspects of your operations. These typically include:
- **Liability Insurance**: This is mandatory and covers damages caused by your truck to other people or property. The Federal Motor Carrier Safety Administration (FMCSA) requires a minimum of $750,000 in liability coverage for trucks operating across state lines1.
- **Cargo Insurance**: This covers the goods being transported against theft, loss, or damage. The amount of cargo insurance needed can vary depending on the type and value of the goods.
- **Physical Damage Coverage**: This includes collision and comprehensive insurance, which covers damage to your own trucks from accidents, theft, or natural disasters.
- **Bobtail Insurance**: Also known as non-trucking liability insurance, this covers your truck when it's being driven without a trailer, typically during personal use.