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report bad driving

Reporting A Semi Truck Driver

report bad driving
Have you ever witnessed truck drivers driving unsafely and wondered if there was anything you could do to stop them? Well, you can report their unsafe driving to relevant authorities so they can address the issue before it’s too late.

Unsafe truck drivers put all road users at risk of severe injuries or death from fatal accidents. The Federal Motor Carrier Safety Administration (FMCSA) and other state bodies provide several avenues to report such dangerous truck drivers and minimize these risks.

Learn how to report a semi-truck driver effectively below and help promote road safety.

Why You Should Report Unsafe Driving

Truck accidents have become increasingly common across the U.S. as their numbers continue to increase annually. In 2021, for instance, there were over half a million (523,796) truck accidents, up from 415,444 incidents the previous year.

FMCSA, in one of their truck crash causation studies, cites driver-related errors as the top cause of most truck accidents.

By reporting unsafe truck drivers, you alert the relevant authorities to conduct an investigation and address the issue before the dangerous truck driver causes an accident and injures people. Reporting unsafe truck drivers ensures our roads stay safe for everyone.

truck accident

Unsafe Truck Driving Practices

A reckless driver violates road regulations willfully, disregarding their safety and the safety of other drivers. Such erratic behavior almost always leads to fatal accidents that cause catastrophic injuries. Some dangerous truck driving behaviors you should take note of and report include the following:

Illegal Passing

Large trucks limit on-road visibility for other drivers due to their large size. Because of this, transportation rules in most states prohibit professional drivers from passing on a curve, hill, and on the right.

Illegal passing happens when semi-truck drivers violate these regulations, limiting visibility for other drivers who require clear sight lines to avoid accidents. This unsafe driving behavior often leads to a semi-truck running other vehicles off the road.

Speeding

Some truck drivers drive too fast when trying to meet their demanding pick-up and drop-off schedules. Statistics from the Federal Highway Administration (FHA) reveal that speeding truckers often cause serious accidents that lead to fatalities because of increased forceful impact during a collision.

Failing to Yield

Most trucks don’t have the right of way. If you observe a semi-truck driver failing to yield to other drivers, report them as they’re likely to cause dangerous head-on and T-bone collisions.

Swerving

In most cases, swerving is a sign of an underlying problem that might affect the driver’s ability to control their vehicle, leading to a truck crash. The driver might be distracted, under the influence, or experiencing a medical emergency. It’s best to report such cases as emergencies (more on how to do this below).

speeding truck

Following Too Closely

Trucks require long distances and time to stop. Semi-truck drivers who follow other vehicles too closely can cause rear-end collisions, especially during heavy traffic and bad weather.

Camping in the Left Lane

Most states ban slow vehicles from using left lanes as their default driving lane on interstate or multi-lane highways. The left lanes are mostly for passing. Camping in the left lane, therefore, is a safety violation.

It’s an unsafe driving practice that forces vehicles to pass large trucks on the right side, where there are massive blind spots. This increases the chances of accidents occurring.

Where to Make a Report

If a truck driver’s unsafe behavior behind the wheel puts other road users in immediate danger, call 911 and report an emergency. Life-threatening driving behavior, such as swerving, counts as an emergency. The police will intercept the truck before an accident occurs.

For non-emergency cases, there are a few options for reporting an unsafe driver’s conduct, depending on your location and circumstances. Some of these include:

File a Complaint With the FMCSA

Reporting safety violations to the FMCSA is a highly effective method for maintaining road safety. The FMCSA investigates each complaint, penalizes the involved parties, and records them in the national consumer complaint database.

These complaints become a permanent part of a trucking company’s driving record, prompting companies to take necessary measures to ensure safe driving and avoid reputational damage or severe penalties.

Contact FMCSA by calling 1-888-DOT-SAFT (1-888-368-7238) or fill out their consumer safety violation complaint form if you’ve witnessed unsafe driving behaviors on an interstate highway.

highway patrol

Contact the Highway Patrol

To report unsafe truck drivers on intrastate roads, file a complaint with the state’s Department of Transportation, highway patrol office, or the Public Utilities Commission. These agencies oversee the safety of roads within each state and can respond quickly to prevent truck crashes.

Provide relevant information to support your complaint, including any distinguishing characteristics of the unsafe driver and vehicle, as explained below.

Report Them to Their Employer

Most trucking companies provide a phone number you can call to report any commercial vehicle driver operating their trucks unsafely. You’ll almost always find this number on the conspicuous ‘How’s my driving’ sticker at the back of many commercial trucks.

You can also email the safety director of a trucking company explaining the unsafe driving practice along with other relevant details. A responsible trucking company will appreciate your report and evaluate the truck driver to see whether they’re fit to remain behind the wheel.

What Information To Report

Your report about an unsafe driver should include specific information relevant authorities can use to conduct an investigation, such as:

  • The location where you witnessed the road safety violations. Specify whether the road is intra- or inter-state, its name or number, plus any cross streets, mile markers, road signs, intersections, and exits relevant authorities can use to pinpoint the location.
  • A detailed description of the truck and the driver – providing any stand-out characteristics, like vehicle make and color, helps a lot
  • Identifying information about the trucking company, such as the company name and logo
  • License plate number plus the Department of Transportation (DOT) number
  • The time and date of your observation
  • An explanation of the unsafe behavior

call 911

How Do You Report a Trucking Company Anonymously?

Reporting a trucking company that encourages unsafe driving among its employees is similar to reporting an individual truck driver. You use the same channels and follow the same procedures we’ve discussed.

The only difference is – you’ll have to specify why you think the trucking company allows or supports unsafe driving practices as opposed to it being an individual trucker’s poor driving habit. Have you seen most of the company’s trucks speeding past your home repeatedly despite being driven by different drivers?

Some people fear harassment or retaliation by the trucking company and might not want to go to court or actively participate in any investigations. In this case, you can make an anonymous complaint, although it might be harder to investigate.

You have every right to withhold your name and other personal details when calling in a complaint. You can also omit your personal info when filling out a complaint form and use the ‘anonymous’ tag where your name is mandatory.

Avoid providing false identification info, as this counts as a crime. Sending a letter providing the necessary details only to the relevant authority also helps to hide your identity.

Final Thoughts

When you notice an unsafe truck driver, keep yourself safe first. Drive away from the dangerous driver, and avoid tailgating, speeding up, or engaging in unsafe driving behaviors while trying to collect information to make your complaint.

You can also report unsafe driving by a trucker to a truck accident lawyer, if you or your loved ones get injured in a truck accident. The right truck accident lawyer will help you get maximum compensation for medical bills, lost wages, and all other damages sustained.

We’ve prepared several guides to help you understand how to handle a truck accident and find the most competent truck accident lawyers afterward. Check out our blog to learn more about this.

semi truck owner (1)

How To Be A Successful Semi Truck Owner Operator

semi truck owner (1)

Running your own trucking business may be a dream. However, there’s a lot that goes into being a successful semi truck owner-operator, and it’s essential that you know all the different elements involved in managing a business.

Follow this guide to learn some of the most important tactics and responsibilities that owner-operators should show.
What is an Owner-Operator?
An owner-operator is an individual who owns and operates their own trucking business.

Instead of working as an employee for a trucking company, an owner-operator owns the truck they drive and may either work independently or lease their services to carriers or logistics companies.

A successful owner-operator is responsible for managing their truck, handling maintenance costs, fuel expenses, insurance, and other overheads associated with running a trucking business.

Owner-operators can choose their routes and schedules and sometimes negotiate their compensation rates.

Tips to Becoming a Successful Owner-Operator

If you own a semi-truck, then establishing a successful owner-operator business is undoubtedly appealing. Here are a few essential tips for truck owner-operators to keep in mind.

Ensure You Have Enough Experience

Gaining experience is crucial before transitioning into an owner-operator role within the trucking industry.

Working as a truck driver provides invaluable knowledge about the nuances of the job, from managing different cargo types to understanding diverse routes and handling various situations on the road.

Acquiring hands-on experience also familiarizes individuals with different equipment, truck maintenance, industry regulations, and the administrative aspects of the business. You’ll probably also need to hold and use your commercial driver’s license for some time to help you get better rates on truck financing and commercial insurance.

Create a Business Plan

Crafting a comprehensive business plan is essential to the success of any owner-operator business.

This plan should outline your business goals in detail. This might involve expanding a fleet, specializing in certain cargo types, or targeting specific geographic areas.

It’s crucial also to perform thorough market research, identify your target audience, study your competitors, and pinpoint your unique selling propositions. Within your business plan, include a detailed financial strategy.

business plan

Assess Your Finances

Understanding your costs is an essential step in starting any kind of business. As you’ll be running your own truck and operating your own business, all costs involved are your responsibility.

Your financial evaluation should cover startup costs, including the purchase or lease of a truck, insurance, permits, and licenses. Understanding ongoing expenses such as fuel, maintenance, repairs, and taxes is also crucial.

Distinguishing between fixed costs (insurance, truck payments) and variable costs (fuel, maintenance) is essential for gaining a clear picture of the financial health of your business.

You’ll need to realistically understand your finances and know how to track them in order to run a successful owner-operator business.

Understand Freight Cycles

A comprehensive understanding of freight cycles for commercial motor vehicles is vital for your operational success.

Study seasonal trends and industry cycles to help anticipate busy and slow periods in freight demand.

You’ll want to diversify your client base or adapt your services during slower periods to maintain consistent income. During peak seasons, you can develop strategies to capitalize on increased demand by efficiently planning routes and securing higher-paying contracts.

Know How to Generate Revenue

Owner-operators can make money in the trucking industry in a couple of different ways.

Explore different types of commercial trucking opportunities such as load boards, freight brokers, direct contracts with shippers, or participation in dedicated freight programs offered by larger companies. Building a solid network within the industry is also crucial for securing repeat business and referrals.

credit score

Have a Maintenance Reserve

Being a small business owner can be expensive – especially when you have to maintain a commercial truck.

Make sure that you allocate funds for truck maintenance and unexpected repairs. By setting aside a portion of earnings into a designated maintenance reserve, unexpected breakdowns, and repairs can be managed without causing financial strain or disrupting business operations.

Regularly scheduled preventive maintenance helps avoid costly breakdowns and extends the lifespan of your equipment, ensuring continued smooth operations.

Protect Your Credit

Maintaining strong credit is a vital element of your owner-operator career.

Ask other owner-operators, and they’ll tell you that good credit is so much more than just a way to help your cash flow; it’s a way to manage your business.

Timely bill payments, responsible debt management, and regular monitoring of credit reports help you achieve a good credit score. A good credit score opens up better financing options, lower interest rates on loans, and increased credibility when negotiating contracts or leases.

Create Your Own Schedule

The flexibility of being an owner-operator means you can create personalized schedules that maximize productivity.

Effective route planning, workload balancing, and rest period management are essential for running a trucking operation.

deals

Negotiate Your Own Deals

Developing strong negotiation skills is essential for owner-operators to secure the rates, terms, and contracts they want.

Understanding market rates, industry standards, and the value of services helps you confidently manage negotiations. Building strong relationships while negotiating fosters mutually beneficial agreements that prioritize long-term partnerships and profitability.

This is essential for a successful owner-operator business.

Final Thoughts

If you own and operate your commercial truck, you must have solid business management skills and trucking abilities. Follow the tips above, and you’ll be in an excellent position to manage a successful business.

If you want to purchase a semi-truck, you’ll need to gain the right financing. Get in touch with us at Mission Financial Services to make acquiring financing an easy process.

light commercial

Insurance For Light Commercial Vehicles

light commercial 

Finding the right commercial auto policy can be challenging, especially if you’re a small business owner. But we are here to help. Depending on the type of your business vehicle and commercial use, you may need one of two types of commercial auto policies – light or heavy commercial auto insurance policy. 

 Light commercial vehicle insurance covers business vehicles that transport lightweight commercial goods and have a gross vehicle weight of 3.5 metric tons or less. On the other hand, heavy commercial vehicle auto insurance covers larger commercial vehicles with a gross weight of over 3.5 tons.

 This guide explains everything you need to know about insurance for light commercial vehicles to help you get the right coverage for your business needs.

What is Commercial Vehicle Insurance for Business? 

 Commercial vehicle insurance for business is a must-have coverage for companies that use vehicles for business purposes. It offers coverage for various usage and situations not covered by your regular personal auto insurance policies.

 With a commercial auto policy, you get comprehensive insurance coverages and higher liability limits to protect your business assets adequately based on their value, frequency of use, and other factors. Your business assets may include all company vehicles and employees.

 Commercial auto insurance policy also protects your business from financial losses due to lawsuits you may face after an at-fault accident. 

food delivery

When do you need commercial vehicle insurance?

 The law requires you to get commercial vehicle insurance if you move people or goods across state lines. You also need a commercial auto insurance policy in most states if you and your employees use vehicles to perform for-profit work or work-related tasks, like:

  • Delivering food and other products locally
  • Acting as a taxi service
  • Going for client meetings and sales calls
  • Shopping for office supplies
  • Moving small company packages to a shipper, and so on.

 Additionally, you require commercial car insurance if you’ve registered your vehicle as a commercial vehicle or carry a commercial license tag.

What Kind of Vehicles Are Covered by A Light Commercial Auto Insurance Policy?

Commercial vehicle insurance policies generally encompass a wide range of commercial vehicles.

Light commercial insurance specifically caters to minivans, small pick-up trucks, box trucks, and service utility vehicles. It also extends coverage to regular cars used for business purposes.

If you own a light commercial vehicle, you need light commercial vehicle coverage to ensure your insurance suits your vehicle’s intended use.

What does Commercial Vehicle Insurance Cover?

Commercial car insurance offers several coverage options. Some common coverages you may get include: 

roadside assistance

Liability Coverage

Insurance carriers typically offer two main types of liability coverage: bodily injury (which covers injuries to third parties) and property damage (which covers damage to third-party property). 

This coverage also includes funeral expenses and legal fees in case of fatalities or lawsuits resulting from accidents you cause. 

You can purchase bodily injury and property damage coverage separately or combined as a single cover, known as combined single limit (CSL) liability coverage.

Uninsured/Underinsured Motorist 

Uninsured motorist coverage pays for bodily injury you or the occupants of your covered company-owned vehicle sustain in an accident caused by an uninsured driver. This coverage also protects you in a hit-and-run. 

 For situations where the at-fault driver has a car insurance policy, but it’s not enough to cover all damages caused, underinsured motorist coverage comes in handy.

Medical payments

Medical payments coverage pays for your medical expenses and the expenses of your passengers if injured in a covered accident. It doesn’t matter whether you are the at-fault party or not.

Roadside assistance

Roadside assistance covers on-site repairs if your insured vehicle breaks down while on the road. This type of coverage is essential, especially for small business owners just getting started in the trucking industry.

Hired auto

Hired auto liability coverage provides bodily injury and property damage compensation to third parties injured in an accident caused by a vehicle you’ve hired, leased, or borrowed for business use.

insurance policy

How Does Commercial Auto Insurance Work?

Commercial auto insurance works similarly to personal car insurance. In an accident caused by you or your employees, where injuries or property damage occur, the affected parties can seek compensation through a claim or lawsuit.

With appropriate commercial vehicle coverage, your insurance company covers the claim amount up to your policy limit. You only incur out-of-pocket costs if the claim exceeds your policy limit, in which case you cover the excess amount.

Additionally, your insurance company handles the legal expenses for defending you and your employees in the lawsuit, often separately from your policy limit.

Does Personal Auto Insurance Cover Business Use?

 Most personal auto policies don’t cover business use. They only cover vehicles driven for personal use. If you use your private vehicle to perform work duties, you may have to get commercial auto insurance to stay protected.

 A few sole proprietors may find personal auto insurance sufficient for business activities. They can thrive without a commercial auto policy. But this largely depends on the specific situation.

It’s best to always check with your insurance provider and confirm if your small business falls under this category before you purchase your cover. 

insurance broker

How Do I Purchase Commercial Vehicle Insurance? 

To secure cost-effective commercial vehicle insurance, assess your current and future business needs. Research top commercial auto insurers in your state, compare quotes and select one that aligns with your business goals.

Consider factors such as insurer reputation, policy customization features (coverage limits, deductibles, and premiums for businesses like yours), claims handling, customer support quality, and available discounts or resources.

Choose an insurer that ensures compliance with federal and state commercial auto insurance laws while offering tailored coverage. 

Alternatively, consider using a certified independent insurance agent for a streamlined process, as they can quickly identify the best coverage for your small business and guide you through claims processes.

Final Thoughts

Remember, the right commercial auto policy is an investment for your small business. It minimizes unexpected business expenditures, giving you a steady cash flow and the financial stability you need to expand your business operations.

 Adequate commercial vehicle insurance also offers maximum protection against unpredictable events, allowing you to bounce back faster after a setback. Take enough time to research and find the best insurance provider, knowing you are securing your business long-term.

 To learn more about commercial vehicle insurance for small businesses, check out our blog. Also, call us if you need critical additional coverage, like GAP protection add-on coverage. We’re always ready to help.

 

truck leasing

Guide To Commercial Truck Leasing

truck leasing

There are two main ways to acquire a commercial truck: purchasing one or leasing one.

Commercial truck leasing is a convenient solution for getting access to a semi-truck. The upfront costs are lower, and you eliminate many risks associated with owning a truck. However, commercial truck leasing also comes with its downsides.

We’ll explore everything you need to know about this in the guide below.

What is Commercial Truck Leasing?

Commercial truck leasing is when you rent a truck for a specified period instead of purchasing it outright. Leasing commercial vehicles involves a contract between the lessee (the party renting the truck) and the lessor (the owner or leasing company providing the truck).

Under a commercial truck lease, the lessee pays a regular monthly fee for using the truck over a predetermined period. The lease terms could include maintenance responsibilities, mileage limitations, insurance requirements, and potential penalties for excessive wear and tear on the vehicle.

There are various types of truck leasing options available, such as:

  • Full-Service Leasing: This type of lease covers most costs associated with the truck, including maintenance, repairs, insurance, and sometimes even registration fees.
  • Finance Lease: Also known as a capital lease, it’s more like a loan where the lessee assumes most of the responsibilities of ownership, including maintenance and insurance.
  • Operating Lease: A short-term lease where the lessee doesn’t take on the risks of ownership. This type of lease often allows for easier upgrades to newer vehicles.

truck lease agreement

Essential Elements of a Commercial Truck Lease

While you can have different types of agreements for leased trucks, a leased vehicle agreement should include the following elements. Understanding the fine print of these different elements is essential before leasing a commercial vehicle.

Identification of Parties

The lease should clearly identify the lessor (owner or leasing company) and the lessee (the individual or business renting the truck).

Description of the Truck

The agreement should specify the truck’s details, including make, model, year, Vehicle Identification Number (VIN), and any additional features or equipment.

Lease Term

The agreement should state the duration of the lease, such as the start date and end date, or the duration of the lease period in months or years.

Payment Terms

This section outlines the financial aspects, including the amount of monthly lease payments, due dates, additional fees, and penalties for late payments or breaches of the agreement.

Maintenance and Repairs

The lease should define the responsibilities for maintaining and servicing the truck, specifying whether the lessor or lessee is responsible for preventive maintenance, repairs, and insurance coverage.

Usage Restrictions

Details covering how the truck can be used, mileage limits, geographical restrictions, and any prohibited activities should be clearly outlined.

Return Conditions

Conditions for returning the truck at the end of the lease term. This includes requirements for its condition, any excess wear-and-tear charges, and potential charges for exceeding agreed-upon mileage.

truck inspection

Insurance Requirements

Specifications regarding the types and levels of insurance coverage required for the leased truck, including liability, collision, and comprehensive coverage.

Early Termination or Buyout Options

Any provisions regarding early termination of the lease or options for the lessee to purchase the truck at the end of the lease term should be clearly stated.

Comparing Commercial Truck Leasing vs. Purchasing Options

Should you purchase or lease a commercial truck? Each option has its trade-offs.

Leasing offers lower initial costs, predictable monthly expenses, potential tax benefits, and easy upgrades. However, you don’t get ownership equity, and the long-term costs can add up.

On the other hand, buying a truck involves a higher upfront investment, but it gives you ownership of a significant asset, flexibility in your truck’s usage, and potential long-term cost savings.

However, ownership also involves bearing all maintenance costs and facing depreciation impacting resale value.

Choosing between leasing and purchasing should depend on your immediate cash flow, long-term business strategies, and operational requirements.

Owning a vehicle is typically preferred, but many trucking companies don’t have the cash to purchase a new truck. Leasing is also a standard solution for substitute vehicles to keep a fleet running and the business moving.

truck lease pros and cons

Commercial Truck Lease Pros and Cons

As we’ve already mentioned, commercial truck leasing comes with its pros and cons.

Pros

  • Lower initial costs
  • Monthly lease payments are more predictable
  • Lease payments might be tax-deductible as a business expense
  • Some leases include maintenance services
  • Easier access to newer vehicle models at the end of the lease term

Cons

  • Lessees do not gain ownership or equity in the truck.
  • Lease agreements often involve mileage limits and usage constraints
  • The long-term costs of leasing might be greater than ownership

Costs to Consider When Leasing Commercial Trucks

Leasing a commercial vehicle involves various costs. Here’s a breakdown of what you can expect.

Monthly Lease Payments

The main cost is the monthly lease payment, which covers truck use. This payment varies based on the type of lease, truck model, and your lease terms.

Down Payment or Initial Fees

Some leases require a down payment or initial fees upfront. These costs can vary and may include security deposits or the first month’s payment.

Maintenance and Repairs

Depending on the lease agreement, lessees might be responsible for maintenance and repair costs. Some leases include maintenance services, while others require lessees to cover these expenses separately.

costs
Insurance

Lessees are typically required to have insurance coverage for the leased truck. Insurance costs vary based on coverage types, deductibles, and the truck’s value.

Excess Mileage or Usage Fees

Lease agreements often include a maximum mileage limit. If this limit is exceeded, additional fees per mile might apply.

Taxes and Fees

There may be taxes, registration fees, and administrative costs associated with leasing a commercial truck.

Early Termination Fees

Terminating a lease before the agreed-upon term might result in penalties or early termination fees.

Final Thoughts

Leasing a truck might seem like an attractive option, but in the long run, it’s generally best to own a vehicle.

Luckily, it’s possible to access affordable vehicle financing that makes purchasing a commercial truck an easy process. Get in touch with Mission Financial Services to gain the funding for your dream truck.

Hotshot Commercial Truck Insurance

Hotshot Commercial Truck Insurance

hotshot

Many different types of trucking businesses exist – with hotshot trucking being a popular area.

As this is a unique type of trucking, it comes with its specialized insurance requirements. This is why hotshot trucking operators need the right insurance policy that matches their business needs and operations.

If you only offer hotshot trucking services, taking out a regular commercial trucking insurance policy could waste money.

To help you out, here are some of the critical things you need to know about hotshot commercial truck insurance.

What is Hot Shot Trucking?

Hot shot trucking is a trucking and delivery service that involves transporting relatively small, time-sensitive loads. With hot shot trucking, you use smaller trucks, typically one-ton or medium-duty trucks. These are classified as less-than-truckload (LTL) vehicles.

Unlike traditional freight services that use large semi-trucks or tractor-trailers, hot shot trucking utilizes smaller vehicles that can quickly transport goods and cargo to their destination.

Hot shot trucking can cater to various industries, including oil and gas, construction, agriculture, and manufacturing, where the fast delivery of smaller loads is necessary.

The advantage of hot shot trucking is faster delivery times and more personalized service compared to larger freight carriers. This niche transportation service is valuable for its flexibility, speed, and quick response to time-sensitive transport needs.

Who Needs Hotshot Trucking Insurance?

Hotshot trucking insurance is essential for anyone who offers this trucking service.

This insurance is essential for owner-operators running smaller trucks or small trucking companies specializing in rapid delivery. Freelance drivers offering on-demand services may also need a hotshot trucking insurance policy.

Hotshot truckers require specialized insurance coverage to protect against liabilities, cargo damage, and unforeseen incidents on the road.

Getting the right hotshot trucking insurance provides financial protection and peace of mind for the transporter and their clients in the event of accidents or mishaps during transit.

Hot Shot Trucking Coverage

Hotshot trucking insurance refers to commercial trucking insurance that can be applied to specialized hotshot truckers. Coverage can include:

  • Liability Insurance: Covers bodily injury or property damage liabilities arising from accidents while operating the truck.
  • Comprehensive Insurance: Protects against non-collision incidents like theft, vandalism, or natural disasters.
  • Collision Insurance: Covers damages to the truck resulting from collisions.
  • Cargo Insurance: Protects the value of the cargo being transported against damage, loss, or theft during transit.
  • Loading and Unloading Insurance: Covers liabilities during loading or unloading cargo.
  • Towing and Storage Insurance: Covers costs related to towing and storing the truck in case of breakdowns or accidents.
  • Bobtail Coverage Insurance: Covers the truck when operated without a trailer, such as when driving back to the home base.
  • Downtime Insurance: Provides coverage for income lost due to downtime resulting from accidents or covered incidents.
  • Earned Freight Insurance: Covers the income lost if the cargo can’t be delivered due to a covered incident.
  • Equipment Coverage: Protects additional equipment used for transportation, such as trailers, chains, and tarps.
  • Debris Removal Insurance: Covers costs associated with the removal of debris resulting from covered incidents.
  • Broadened Pollution Insurance: Covers liabilities for environmental damage caused by hazardous material spills during transit.
  • Loss Mitigation Insurance: Covers expenses incurred to prevent further damage or loss after an incident occurs.
  • Medical Payments Insurance: Covers medical expenses for injuries sustained by the driver or passengers in the truck.
  • Family Emergency Expenses Insurance: Provides coverage for emergency expenses incurred by the driver’s family due to a covered incident.
  • GAP Coverage: This covers the difference between the truck’s actual cash value and the amount still owed on a lease or loan in the event of a total loss.
  • Umbrella Insurance: Provides additional liability coverage beyond the limits of primary insurance policies.

Cost of Hotshot Trucking Insurance

The cost of hotshot trucking insurance policies varies based on a range of factors.

Most importantly, your premiums depend on what types of coverage you have. The more comprehensive coverage your policy offers, the more expensive your insurance will be.

The following factors can also affect how much your insurance policy costs:

  • Type of equipment being covered
  • Coverage limits
  • Driving history
  • Cargo
  • Location
  • Deductibles

The bottom line is the more you need to be covered, the more expensive your policy will be.

Lowering the Cost of Hotshot Insurance

Want to get the best deal on hotshot trucking insurance? It’s possible to lower the cost of your premiums by:

  • Comparing quotes to see which company offers the best deal
  • Increase deductibles to lower your monthly premiums
  • Get only essential cover to reduce how much you pay

If you want to purchase hotshot insurance on a budget, only cover the essentials. This could add risks over the long run, but it will decrease your monthly premiums.

find insurance

How to Find Hot Shot Insurance Cover

Contact insurance companies specializing in commercial trucking or freight transportation and ask if they offer any specialized hotshot insurance options. Request quotes tailored to your specific needs and the nature of your hot-shot trucking business.

Comparing multiple quotes and understanding the details of coverage options will help you choose the most suitable insurance broker for your operations.

Final Thoughts

The right commercial truck insurance policy is essential for the smooth operation of any trucking business. Make sure you compare quotes and understand exactly what coverage options you have. Choosing the right policy can make a significant impact on your business.

If you’re in the hotshot trucking business, you must acquire the right vehicle. At Mission Financial Services, we make it easy for owner-operators to access the financing they need to purchase a commercial truck. Get in touch with us to see how easy the application process is.

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