Semi-Truck Insurance

Need semi-truck insurance for your company? Let our trucking industry experts help.

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Semi-Truck Insurance

Semi-trucks have unique risks and need special insurance coverage. The main threats they face out there on the road are theft and collision.

Numerous reports have indicated that theft has become a growing problem across the nation. With the help of technology, cargo heists are becoming more professional. As a result, trucking companies are losing hundreds of thousands of dollars.

Here at InsuranceHub Leavitt Agency, our semi-truck insurance is meant to provide your trucking business with the support it needs. With our team of trained experts, we aim to mitigate the everyday risks that exist in the trucking industry.

What’s considered a semi-truck?

A semi-truck has an enclosed cab and trailer which are conjoined by a fifth-wheel hitch. These trucks are used to haul goods long distances.

Other names for a semi-truck are a tractor-trailer, big rig, 18-wheeler, and semitrailer.

Around 71% of our nation’s freight is transported by semi-trucks.

Do you need a CDL to drive a semi-truck?

Yes, you’ll need your CDL to operate a semi in most cases. The average weight of an empty semi-truck is around 35,000 pounds.

What type of insurance do semi-trucks need?

Every semi-truck business is unique; therefore, the type of coverage you need can vary from business to business.

The following are some of the coverages you may need for your semi-trucks:

Auto Liability

Non-Trucking Insurance

Truckers General Liability

Workers Compensation

Occupational Accident

Collision & Comprehensive Coverage

Pollution/Hazmat

Cargo Insurance

Employer Practices Liability

Group Benefits

How much does semi-truck insurance cost?

We anonymously averaged 200 trucking policies from around the United States for 2021.  The average cost from this small sample was right around $17,500 per truck per year.  The typical down payment varied from 10% all the way to 25%. Keep in mind many of these were new venture and many included primary auto liability, physical damage and general liability.

The cost of semi-truck insurance varies greatly from company to company. First things first, an insurer will need to know the ins and outs of your business. The riskier you are to insure, the higher your rates will be.

So, here are some of the various factors insurers will take into consideration when working your quote:
minimum insurance coverages for a small business insurancehub
  • The year, make, and model of your semi-trucks
  • Your location
  • Your hauling radius
  • How many employees you have
  • The age and experience of your drivers
  • How long you’ve been in business

 

  • Accidents
  • Claims history
  • Speeding tickets
  • DUIs
  • Credit (depending on state)