The Department of Motor Vehicles (DMV) in every state requires both personal and commercial vehicles to obtain truck tags for license plates on an annual basis. The amount that drivers must pay for these truck tags depends on several factors, including age and type of the vehicle. Just as drivers of personal vehicles must prove they have minimum liability insurance, the same is true of commercial truckers. You will need to demonstrate that you have primary liability coverage to drive a commercial truck as required by the Federal Motor Carrier Safety Administration (FMCSA).
It can be hard to figure out what kind of truck insurance coverage you need. Different types of trucking businesses need different types of insurance to make sure they’re protected from the various risks they face. Here’s a handy checklist that details a few different types of businesses and the insurance that’s important for them.
Whether you are in the market for dump truck insurance, tow truck insurance, box truck insurance or any other type of insurance for a commercial vehicle, you need to know how to get truck insurance quotes and then compare them. This will help you make a decision about which insurance you purchase. We’ve got some tips and guidelines for evaluating quotes.
Primary liability insurance for truckers is a type of policy they must carry under the mandates of the Federal Motor Carrier Safety Administration (FMCSA). It is the minimum insurance requirement that you must obtain when you operate or own a single commercial truck or a fleet of trucks. It provides you and other motorists with a basic level of financial protection in the event of a truck accident.
One of the first decisions you face as a new owner-operator is whether to operate under your own authority or lease onto a motor carrier. While each option has its advantages and disadvantages, the majority of new truckers opt for the latter. The biggest benefit of doing so is that the motor carrier finds loads for you to transport instead of you having to do it yourself. The company you lease from may also pay for fuel, insurance, maintenance, and repairs.
Every business has a budget, and it’s wise to be frugal when it comes to various expenses, including insurance. If your business has a dump truck, you need the right insurance for that vehicle. And there are some key ways to save money when purchasing that insurance. Here are some simple ways to maintain great dump truck insurance coverage while still keeping an eye on the bottom line.
According to the Federal Motor Carrier Safety Administration (FMCSA), commercial trucking companies must obtain an interstate operating authority number if they meet certain criteria. The interstate operating authority number, also known as an MC number, is in addition to the requirement of obtaining a Department of Transportation (DOT) number.
These criteria include businesses that:
- Transport people paying a monetary fee or another form of compensation while engaged in interstate commerce. This fee can either be a direct or indirect form of payment.
- Transport commodities regulated by the federal government and owned by another party in exchange for a direct or implied payment while completing the act of interstate commerce.
Do you own a repo business? If not, are you thinking of starting one? A repo business can be quite lucrative. However, this line of work comes with a lot of risks. Every time you go on a job, you are at risk. There is the risk of driving and towing the vehicles safely. Also, there is the risk of angry vehicle owners damaging your tow truck. In Los Angeles, a man jumped onto a moving tow truck and smashed the window with a crowbar as his vehicle was being repossessed. Incidents like these show just how important it is to have good insurance coverage. As a tow truck operator, you will need different insurance coverage than other drivers. Here is a breakdown of what is recommended.
If you tow disabled vehicles, then you need specialized tow truck insurance. Just having regular truck insurance is not enough. However, rates for tow truck insurance can be expensive. In fact, many insurance carriers have raised their rates as towing vehicles can be risky. There is a lot of liability that comes with towing disabled vehicles. As a result of the rising rates, you’re probably looking for a way to find cheap tow truck insurance. Luckily, we have some tips to help you save money.
If you use a dump truck to haul sand, dirt, asphalt, gravel or rock, then you need specialized dump truck insurance. Dump trucks are classified as heavy-duty commercial vehicles. They include transfer dump trucks, tandem dump trucks, and side dump trucks.
Dump trucks are typically constructed to be used on construction sites or off-road at stone quarries and similar sites. Because of their use in roadwork zones and construction sites, dump trucks are more likely than other commercial trucks to be involved in over-turn and back-up accidents. Because of this fact, dump trucks can be costly to insure. If you are looking for cheap dump truck insurance, you have come to the right place. Here is a guide to finding affordable insurance for dump trucks.