All of our insurance carriers offer coverage that meets state and federal regulations.
Whatever trucking needs you have, Archer Kemp is here to help.
Commercial Trucking Insurance
Commercial trucking companies need a variety of insurance coverage to protect their business against different risks and liabilities. Understanding the different coverage options can help you choose the right insurance policy that suits your needs. Here are some of the common types of commercial trucking insurance coverage and understanding these different types of coverages will help you choose the right insurance policy that provides comprehensive protection for your commercial trucking operations.
Liability Insurance
Liability insurance is the most basic and essential coverage for commercial trucking.
It provides your company financial protection against bodily injury and property damage claims in the event of an at-fault accident.
Physical Damage Insurance
Physical damage insurance covers the repair or replacement costs of your commercial truck and / or trailer in case of an accident, theft, or vandalism.
Cargo Insurance
Cargo insurance provides coverage for the goods and materials you are transporting. It protects against damage, loss, or theft of the cargo while in transit.
General Liability Insurance
General Liability insurance otherwise known as “slip and fall” coverage helps protect you from miscellaneous non-auto related accidents.
Non-Trucking Liability Insurance
Non-trucking liability insurance, also known as bobtail insurance, covers your truck when it is being used for non-business purposes, such as personal use or commuting.
Specialty Trucking Insurance
Specialty trucking services include, but are not limited to: Haz-Mat, Oil Field Services, High-Value Loads, Military Contracts, Farm Equipment, Extra Heavy and Oversized Load Hauling.
Bonds
Whether it’s a freight broker bond, a motor carrier bond, or a custom bond tailored to your specific needs, Archer Kemp has the expertise to secure the right bond for your business.
Occupational Accident Insurance
Occupational Accident Insurance is crucial for protecting owner-operators and employees in the event of a work-related accident. This coverage is essential for mitigating the financial impact of medical expenses, lost wages, and disability benefits.
Business Interruption Insurance
Business Interruption Coverage is a lifeline for trucking companies facing unexpected downtime due to covered perils, such as natural disasters, fires, or major equipment failure. This type of insurance is designed to compensate for lost income and help cover operating expenses.
Factors that Affect Commercial Trucking Insurance Rates
Several factors influence the cost of commercial trucking insurance. Insurance companies consider these factors when determining your insurance rates. Understanding these factors can help you manage your insurance costs effectively. By understanding these factors, you can take steps to minimize your insurance costs. Maintaining a clean driving record, investing in driver training programs, and implementing safety measures can help demonstrate your commitment to safety and potentially reduce your insurance rates.
Factor 1: Driving Record
Your driving record plays a significant role in determining your insurance rates. Drivers with a clean driving record and no history of accidents or DOT violations are considered lower risk and may qualify for lower insurance premiums.
Factor 2: Experience
Insurance companies also consider your experience as a commercial truck driver. Experienced drivers with a proven track record are seen as less likely to be involved in accidents and are therefore eligible for lower insurance rates.
Factor 3: Type of Cargo
The type of cargo you transport can impact your insurance rates. Hauling hazardous materials or high-value goods may increase your premiums since they pose a higher financial risk to the insurance company in the event of a claim.
Factor 4: Vehicle Type
The type of commercial truck you operate also affects your insurance rates. Factors such as the age, make, model, and condition of the vehicle can impact the cost of insurance.
Factor 5: Coverage Limits
The coverage limits you choose for your insurance policy will also influence the cost. Higher coverage limits typically result in higher premiums.