As an owner operator, you know how important it is to protect both your business and livelihood. Having the right owner operator truck insurance is vital whether you are working under your own authority, or under a permanent lease to a motor carrier.
Operating Under Your Own Authority
You will need to carry your own commercial truck insurance coverages if operating under your own authority. The Insurance Store offers a wide selection of truck insurance coverages for owner operators including:
- Truck Liability insurance – This includes Bodily Injury Liability insurance and Property Damage coverage.
- Physical Damage – Coverage for damage to your truck caused by collision, theft and other hazards.
- Motor Truck Cargo insurance – Can pay for damages to the cargo that you’re hauling in case of fire, theft, or an accident.
Permanent Lease to a Motor Carrier
The lease agreement you have with your motor carrier typically determines the insurance coverages required by you as an independent driver. While motor carriers often provide primary liability coverage to drivers working on their behalf, being an owner operator you may need to purchase other truck insurance coverages, including:
- Physical Damage coverage – If your truck is involved in an accident or stolen, this covers the cost of fixing or replacing it. Just like comp and collision on your car.
- Motor Truck Cargo – Coverage for the load your hauling – whether lost or damaged.
- Non-Trucking Liability insurance – For when you’re not under dispatch.
How to Get Owner Operator Insurance
The Insurance Store works with owner operators to help them find the best truck insurance coverages. With access to many different markets that cater to the trucking niche, we help owner operators secure the best truck insurance options for the right price. Our team will walk you through the process and help you to make the right choices to customize your owner operator insurance policy in order to meet your needs.