How Much Is Commercial Trucking Insurance?

Commercial trucking insurance protects truck drivers and business owners in all areas of the trucking business.
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How Much Is Commercial Trucking Insurance?

Written by Brian Greenberg

Last updated: November 25th, 2022

Reviewed by Rebecca Thrift

The policies are designed to cover everything and everyone involved in trucking operations.

How Much Does Commercial Trucking Insurance Cost?

Commercial trucking insurance can range anywhere from around $9,000 to $30,000 per vehicle per year for owner-operators of semi-trucks. This depends on a variety of factors, but a key one is the types of coverage needed for a specific business, vehicle, and driver.

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What Are the Different Types of Commercial Truck Insurance Available?

The primary types of commercial truck insurance include commercial truck liability, physical damage coverage, and uninsured motorists coverage. Some insurance plans may or may not cover your trailer. Non-trucking liability (NTL) insurance covers truck drivers when using their trucks for personal (nonbusiness) reasons.

Here are some examples of pricing ranges for the most common types of commercial trucking coverage:

What Are the Different Types of Commercial Truck Insurance Available?

Type of CoverageCost
Primary Auto/Public Liability$5,000–$7,000
Cargo Insurance$400–$1,800
Non-Trucking Liability$400+
Occupational Accident$1,600–$2,200
Physical Damage$1,000–$3,000
Pollution/Hazmat$2,500+
Truckers General Liability$500–$600
Workers' Compensation$3,000–$5,000

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What Factors into the Cost of a Commercial Trucking Policy?

Many factors contribute to the exact costs of a commercial trucking policy and range from the specific vehicle type to what’s required by federal law.

More specifically, costs can depend on:

  • Your location and driving radius
  • Vehicle type and weight
  • Whether you lease or own your trucks and other equipment
  • Business type
  • Goods carried
  • Your driving history
  • Trucking business experience
  • Minimum required coverage limits set by the Federal Motor Carrier Safety
  • Administration (FMCSA)
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Do Certain Industries Affect the Cost of a Commercial Truck Insurance Policy?

Yes. For instance, freight drivers carrying customer cargo need commercial auto liability and cargo insurance to cover potential loss or damage to another’s property.

Additionally, some types of trucks are not necessarily covered by typical public liability insurance and therefore require a more specific type of liability policy.

Generally, the types of trucks commercial insurance covers include semi tractor-trailers, 18-wheelers, box trucks, car hauler trailers, dry vans, dump trucks, flatbed trucks, intermodal, pickup trucks, tank trucks, tow trucks, and tractors.

However, truck types from various industries that may need more specific policies include:

  • Cement trucks
  • Food trucks
  • Buses
  • Hearses
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Can Truck Insurance Be Combined with Other Types of Business Insurance?

Yes. Truck insurance can be combined with other types of business insurance that include:

Can Truck Insurance Be Combined with Other Types of Business Insurance?

TypeCovers
Commercial Auto LiabilityBodily injury and damage to others' property
Non-Trucking LiabilityTrucks being driven with or without a trailer and when they're not carrying cargo
Occupational Accident InsuranceAccidental death or dismemberment of a vehicle/equipment operator
Bobtail InsuranceTrucks when driven for personal use and/or when driven without a trailer after dropping off a load of cargo
Personal ItemsPersonal items damaged during an accident
Workers' CompensationWage replacement and medical expenses to employees experiencing work-related injury or illness
Business Interruption InsuranceLosses related to having to suspend operations due to driver injury, accident, or other cause

Key Takeaways About the Cost of Commercial Truck Insurance

For any commercial truck driver, a primary goal in choosing coverage should be to obtain affordable coverage for every area of your business, taking coverage costs into consideration alongside the value of your vehicles and equipment. With so many factors at play such as the size of your business and number of vehicles to insure, regulations, driver histories, and even your industry niche, we know obtaining the right amount of coverage can feel like a daunting task. A licensed agent can help guide you through the process of shopping for and purchasing policies to ensure your policy includes all the coverage you need.

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