Hotshot trucking isn’t a nickname for fancy driving. This term refers to trucks that haul freight with a super heavy-duty pickup truck rather than the standard big rigs that you see on the interstate.
These types of operations allow cargo transport to be expedited. A power company might use a hotshot operation when power equipment is needed as soon as possible to avoid a shutdown.
Hotshot trucking is a competitive job. If you specialize in this type of cargo transport, it is important to understand the insurance requirements. You will need a special kind of insurance called hot shot insurance.
Here are some of the coverages that are common with hotshot trucking insurance:
Auto Liability
Liability insurance is very important for hotshot truckers. It can help you if you’re at fault in an accident and it can cover your legal expenses if the injured driver sues. Bodily injury liability can cover the costs of the other driver’s medical bills, lost wags, and pain and suffering. Property damage liability can help cover the repairs or replacement of the other driver’s car.
Cargo Coverage
Cargo insurance is also really important. It can help you if your load is damaged due to a covered loss. Things like fire, theft, and collision can be covered.
Physical Damage (Collision and Comprehensive)
Physical damage insurance consists of collision and comprehensive coverage. Collision coverage protects your truck and trailer if you’re in an accident or collide with something. Comprehensive can help you cover losses not caused by a collision, such as fire, vandalism, theft, and other damages.
Downtime
This coverage can help pay for downtime in the event that your truck is damaged in an accident.
Earned Freight
If you cannot deliver a load due to an accident or another covered incident, this coverage can help.
Medical Payments
If you are injured in an accident and require medical treatment, this insurance coverage can help pay for your medical costs.
Lease or Loan Gap
This insurance can help you if your vehicle is totaled and you owe more on your loan than the vehicle is worth.
The bottom line is that you really need to make sure that you have the right hotshot truck insurance coverages to protect your business. Having the right insurance – and enough insurance – is a big deal.
How Can I Get The Best Rate For Hotshot Trucking Insurance?
To get the best rate for hotshot trucking insurance, you really need to compare rates. Finding the best hotshot trucking insurance policy is not an easy task — if you are doing it on your own. There are a lot of factors to take into consideration. Policy coverages, discounts, and prices vary significantly from insurer to insurer.
Fortunately, there is no need for you to call around to different insurance companies to compare hotshot trucking insurance rates. Simply fill out this form whenever it is convenient for you 24/7. We’ll find the best policies for your needs and help you compare coverages. You can also give us a call to get in touch with our team.