Understanding Trucking Insurance Requirements

Trucking insurance is essential to the transportation industry, providing financial protection against the risks associated with operating commercial trucks. Understanding the specific insurance requirements for trucking can be a complex process, but it’s crucial for compliance and protection in this sector.

Trucking Insurance Basics 

Trucking insurance encompasses various types of coverage to address the unique needs of the trucking industry. These policies may help cover liabilities for cargo damage, accidents, injuries and other unforeseen events on the road. Given the potential for significant financial loss in case of an incident, having the right insurance is a critical business decision.

FMCSA Requirements

The Federal Motor Carrier Safety Administration (FMCSA) is a federal agency that is part of the Department of Transportation (DOT). Its primary mission is to prevent commercial motor vehicle-related fatalities and injuries. The FMCSA regulates and provides safety oversight of commercial motor vehicles (CMVs), such as trucks and buses, to enhance road safety in the United States.

The FMCSA sets national insurance standards for commercial vehicles to ensure that there are adequate resources to cover the costs of crashes or other incidents. The minimum insurance requirements depend on the type of freight transported and the vehicle’s weight.

Tennessee Trucking Insurance Requirements

In Tennessee, trucking companies must adhere to federal and state insurance guidelines. The state mandates specific coverage levels based on the vehicle’s use and weight, and the type of goods transported, including commercial auto liability insurance coverage.

Key Insurance Types for Truckers

Depending on your company’s needs, your agent may recommend purchasing the following trucking insurance policies:

• Commercial auto liability may help cover damage or injuries to others if the trucker is at fault in an accident up to the policy’s dollar limits.
• Cargo insurance may help cover the cargo’s loss or damage.
• Physical damage coverage, including comprehensive and collision insurance, may help cover the repair or replacement of the truck if it’s damaged in a covered accident or other incident.
• Bobtail insurance may help cover the truck when operated without a trailer.

Contact Us

For comprehensive insights and assistance with your trucking insurance requirements, contact Allee Agency Inc. today. Our experts can help you navigate the complexities of trucking insurance and provide a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.