Freight transportation is one of the most crucial activities for the U.S. economy. However, according to the American Trucking Association (ATA), there’s a shortage of around 60,000 drivers. This scarcity has opened opportunities for those seeking independence and wanting to start their own trucking business.
While the industry appears promising, finding an insurance company willing to cover new drivers can be a challenge. This is due to the various types of required insurance and the high cost of premiums.
Essential Truck Coverages
- Liability Insurance:
Mandatory by law, this coverage protects against third-party damages, both property and personal, in case of an accident. - Cargo Insurance:
Protects the transported goods. The carrier is responsible for the cargo until delivery, making this coverage essential. - Physical Damage Insurance:
Covers damage to the truck in the event of a collision or other incidents. It includes:- Collision Coverage: Damage from crashes.
- Comprehensive Coverage: Damage caused by vandalism, theft, or natural disasters.
- Non-Trucking Liability Insurance:
Protects the driver when using the truck for non-commercial purposes. - Workers’ Compensation Insurance:
Required if the contractor hires additional personnel.
How Much Does Truck Insurance Cost for New Drivers?
Premiums are usually higher for inexperienced drivers due to the perceived risk by insurers. Factors such as the driver’s age, the type of cargo transported, driving history, and chosen coverage limits directly affect the cost of insurance.
What many drivers in Florida don’t know is that they can insure their truck at competitive prices with 51³Ô¹ÏºÚÁÏÍø. You only need to provide the following documents:
- CDL Certification
- Driving History
- Truck and Cargo Details
Our specialists will find the most affordable insurance tailored to your business needs.
Secure Your Truck and Hit the Road
If you’re ready to start your business and need the right support, contact us. At 51³Ô¹ÏºÚÁÏÍø, our agents will help you find the best truck insurance so you can begin your business with peace of mind and security.
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