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How to Get the Best Rates on Trucking Insurance in Texas

When it is about getting the best rates for your truck insurance needs, you have several choices to choose from. That is why it is essential to know which factors impact the insurance rate and techniques to choose the ones that fit your driving needs the best.  

It doesn’t end here; to get the best rates, you must be aware of the requirements and costs of truck insurance in Texas. 

If it’s the first time you’re looking for the best insurance rates, we have you covered here. The article includes everything you need to know about getting the best insurance rates. 

Truck Insurance Requirements in Texas

Whether you’re a new venture, a local trucker, or long haul, you are required to have liability insurance. The amount of insurance depends on the type of truck you have and where you drive it. If you don’t travel across the state lines and have a truck that is not more than 26,000 pounds, you may be able to get away with lower liability limits.

However, insurance requirements go into more detail for the drivers who cross the Texas border into other states. 

First of all, all drivers must meet the FMCSA insurance requirements that the federal government has laid out for them. The federal liability from the government limits is $1,000,000 or $750,000.  In the real world, nearly all contracts require the higher $1,000,000 limit at minimum.

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Moreover, Texas requires your insurance agent to submit certain filings. The insurance company is responsible for taking responsibility for these filings. They should show the Texas government that your insurer fulfills all the DOT truck insurance requirements

The common insurance forms include:

  • The BMC 91 or BMC 91X
  • Form H, Form E, Form MCS 90

Truck Insurance Cost in Texas

For example, we averaged a sampling of trucking accounts running under their own authority, based in Texas, with under 10 power units, from 2019 through 2021.  The average insurance cost for a commercial truck in Texas has increased to a whopping $1,257 per month.  A cost estimation depends on truck drivers with insurance requirements for physical damage, cargo, and liability. Trucking companies with common routes, a long history of safe driving, strong driver retention and strict safety measures in place can get rates that are much lower.

In general, there are many variables that impact the cost of truck insurance.  The common ones are;

How to Get the Best Rates on Trucking Insurance in Texas

Compare Quotes from Multiple Insurance Companies

Each insurer or insurance company uses identical details to determine the amount to charge the trucker. That means each insurer weighs the details differently. 

For instance, if one company looks at your driving history and radius to offer a high premium, the other may see the same things but offer a cheaper premium. 

This is what makes getting in touch with multiple companies crucial to compare the quotes and choose the best deal.  Find an agent that has multiple options and don’t be afraid to ask your agent which companies they will be getting quotes from.  

Get the Coverages

You need some important coverage to make sure you get the right rig.  It is better to tailor your policy with a professional to cover unique risk factors at the best price.  Make sure your policy has; 

  • Cargo Insurance 
  • Liability Insurance (Auto Liability, General Liability, Pollution Liability)
  • Physical Damage Insurance

You should also talk to your agent about these coverage options:

  • Workers Compensation or Occupational Accident
  • EPLI (Employment Practices Liability Insurance)

Look for Discounts

In conclusion, big truck insurers offer discount deals to make the policies more lucrative and attractive to buyers.  They may have discounts for loyal customers, safe driving, or safety protocols.  Ask your insurance agent which discount policy you can qualify for to get the best rates. 

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