It’s impossible to give a definitive answer to the question, “how much is semi truck insurance?” The reason for this is commercial truck insurance costs vary widely and depend on several different factors. As I’m sure you’re aware, all trucking businesses have their own unique risks.
On average, it may cost $3,000 to $5,000 per year if you lease onto a motor carrier. However, if you operate under your own authority it may cost you around $9,000 to $12,000 per year. Unfortunately, if you’re a new authority you could be paying close to $16,000 per year.
As of recently, truck insurance has been steadily increasing due to a high number of accidents, claims, and DOT violations. In this article, we’ll discuss the average cost of semi truck insurance, as well as ways you can save.
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