Semi-Truck Insurance

[MaroonNWhite]

I currently have a client who started a trucking company not too long ago, and they are now looking to add trucks and drivers to their fleet. The catch is these drivers are all owner-operators.

How should I set up the policy for the insured?

Should each owner-operator have their own policy because they own their own trucks?
The company is providing them the authority, should the trucks be covered under the authority providing company's policy?

Any suggestions on coverages ie. General Liability, Auto Liability Limits, and an Umbrella policy?

I appreciate any and all help with this one. All of the trucking policies I currently have are one man shows.

 

[marindependent]

MaroonNWhite - what type of trucking do they do? How many states? How far?

 

[MaroonNWhite]

marindependent - they run general freight in the lower 48. Unlimited radius.

 

[hesse]

Northland I have seen be competitive against great west.

 

[MaroonNWhite]

Northland I have seen be competitive against great west.

Thanks for the good information.

Does anyone have any advice on how the carrier should set up their coverage with multiple trucks. They do not own the second truck, but the driver is running under the carriers authority. Who should carry the coverage for the driver? The truck owner or the carrier?

 

[hesse]

I would strongly suggest you talk to an underwriter but the truck owner needs to insure the truck generally when your under different authority they provide the liability. then the truck owner needs to carry dead head coverage.

 

[MaroonNWhite]

I would strongly suggest you talk to an underwriter but the truck owner needs to insure the truck generally when your under different authority they provide the liability. then the truck owner needs to carry dead head coverage.

I appreciate the help. I spoke with a couple of underwriters today. Some of them basically told me to "figure it out" while others confirmed what you have said.

 

[Haley]

Hi Maroon,

You should take a look at your clients lease agreement with the owner operators that they are hiring. Generally, your client will provide the primary liability and cargo insurance, while the owner operators that are leased on to your clients company, will pay physical damage and bobtail/NTL insurance.

Sorry some underwriters blew you off. Usually they are great resources for these situations when you are in unfamiliar territory.

Did you ever get this squared away?

 

[MaroonNWhite]

Hi Maroon, You should take a look at your clients lease agreement with the owner operators that they are hiring. Generally, your client will provide the primary liability and cargo insurance, while the owner operators that are leased on to your clients company, will pay physical damage and bobtail/NTL insurance. Sorry some underwriters blew you off. Usually they are great resources for these situations when you are in unfamiliar territory. Did you ever get this squared away?

Thanks Haley!

I was able to get this particular client taken care of. However, I am running more and more quotes for trucking companies, and many different questions keep coming up.

 

[keepontruckin]

honestly if you don't specialize in this you should refer your client to an agency that does. you're putting his business at risk while you figure it out. what you asked is as 101 as it gets, i would have told you the same thing if i was an underwriter and you asked me that question...."you're kidding right?"