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Home » Owner Operator with US DOT Insurance

Owner Operator with US DOT Insurance

As an owner operator, purchasing the right US DOT insurance is important for your trucking business. At Trucking Insurance Service, we specialize in providing comprehensive insurance solutions to meet the US Department of Transportation (DOT) requirements.

Our experienced agents understand the ins-and-outs of commercial truck insurance and are ready to help you save money.

Owner operators are the backbone of the trucking industry. More than 350,000 owner-operators keep America’s economy moving day and night.

If you were leased-on to another motor carrier before, they maintained your insurance coverage. But now, as an owner operator with your own DOT number, learning what insurance coverage you need is more important than ever.

Vintage classic auto hauler trucks covered by dot insurance of different colors parked in row on asphalt road against green trees

What Coverage Do I Need For My Authority

Insurance protects your business and your truck when the unimaginable happens. Finding the right comprehensive coverage for your trucking company is essential.

To comply with DOT regulations and operate legally, owner operators should consider the following truck insurance coverage:

  1. Auto Liability Insurance (required): This is the backbone of your DOT insurance. The Federal Motor Carrier Safety Administration (FMCSA) requires a minimum of $750,000 in coverage for most interstate trucking operations. However, many owner operators purchase $1,000,000 in coverage to meet broker requirements.
  2. Cargo Insurance: While not mandated by the DOT, cargo insurance is often required by shippers and brokers. It protects the freight you’re hauling in case of damage or loss. Most truckers opt for $100,000 cargo insurance.
  3. Physical Damage Coverage: This protects your truck in case of accidents, theft, or other damages. While not required by the DOT, it’s essential for protecting your investment.

Trucking Insurance Services insures thousands of trucks on the road. Call our agents to discuss your coverage needs at 855-281-2924.

 

Additional Coverage You Might Need

Depending on your specific operations, you may need additional insurance to fully protect your business:

  1. General Liability Insurance: This covers non-driving related incidents, such as injuries occurring during loading or unloading.
  2. Trailer Interchange Coverage: If you use trailers owned by other companies, this coverage protects you in case of damage to those trailers.
  3. Physical Damage Coverage: This coverage repairs or replaces your equipment if it’s damaged in a collision or non-collision incidents such as theft, fire, vandalism, flood, and more.
  4. Reefer Breakdown Coverage: Essential for those hauling temperature-sensitive goods.
  5. Uninsured/Underinsured Motorist Coverage: Protects you if you’re in an accident with a driver who has insufficient or no insurance.

At Trucking Insurance Services, we’ll work with you to create a customized insurance package that meets DOT requirements and provides comprehensive protection for your unique needs.

 

Frequently Asked Questions

Owner operator truck insurance doesn’t need to be complicated. And it doesn’t need to break the bank. Our licensed insurance agents are experts in finding affordable and high-quality coverage. Ready to find coverage? Send us your information.

Do I need insurance before getting a USDOT number?

No, you don’t need insurance before obtaining a USDOT number. However, you will need appropriate insurance coverage before you can be granted operating authority (MC number) by the FMCSA. Our experienced agents can guide you through this process, ensuring you have the right coverage in place when you’re ready to start operations.

What are my payment options?

We understand that insurance is a significant expense for owner operators. That’s why we offer flexible payment options to suit your budget:

  1. Monthly Payments: Spread your premium over 12 months with no finance fees.
  2. Quarterly Payments: Pay your premium in four installments throughout the year.
  3. Annual Payment: Save money by paying your entire premium upfront. Some offer discounts as great as 15%!

Our team will work with you to find the payment plan that best fits your financial situation.

Can I get DOT truck insurance if I own a new trucking company with no experience?

Yes! Truck insurance rates are determined by numerous factors with experience being an important one. However, we have relationships with several insurance companies that write no-experience truck insurance.

How quickly can I get DOT insurance coverage?

While underwriting and quoting can take 24 to 48 hours, we leverage our relationships with underwriters to prioritize your company. We also have companies that offer instant coverage. Our insurance agents operate on your timeline.

What’s an MCS-90 endorsement and do I need it?

The MCS-90 is proof of financial responsibility issued to the FMCSA by your insurance company. Interstate truckers need an MCS90 to activate your authority. Intrastate truckers usually do not need an MCS90.

 


Ready to get started with your DOT insurance? Call us at 855-281-2924 or fill out our online form for a free quote. At Trucking Insurance Services, we’re more than just an insurance agency – we’re your partners in business, dedicated to keeping your wheels rolling and your motor carrier number active.