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Learning About Car Insurance

Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.


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Learning About Car Insurance

Buying Trucker Insurance As An Owner/Operator Driver

by June Peterson

Setting out on your own as an owner/operator trucker is probably the end goal of a lot of truck drivers because it allows you to make the most money and determine when you want to work. However, transitioning to being an owner/operator trucker means you will become responsible for getting your own business insurance, which is unfamiliar ground for a lot of truckers.

When you work as a driver for a trucking company, insurance is not something you have to be responsible for. Take a look at some of the most common questions about trucker insurance and what is necessary. 

How much will insurance cost as an owner/operator? 

Your insurance costs can be hard to pin down because there can be so many variables involved, such as what type of semi you have, what you typically haul, and what your driving record looks like overall. According to Fit Small Business, owner/operators with authority can pay anywhere from $8,000 and $12,500 per year for trucker insurance. If you have a leased semi, your insurance costs will be substantially lower, typically between $1,500 to $2,000 per year. The reason for the extreme difference in costs is a leased semi will come with some coverage already from the motor carrier. 

What is bobtail insurance and do you need it as an owner/operator?

Occasionally, when you are shopping for trucker insurance, you may come across an insurance product that is unfamiliar, and bobtail insurance is one of those coverages. Bobtail insurance is coverage that will protect you when you are between carrying loads. Just as a semi without a trailer is called a bobtail, this insurance gets its name from the same idea. You are not technically doing business between loads, so not all trucker insurance will cover you if something happens in between loads. Bobtail insurance fills in the gaps. 

Should you get cargo insurance with your policy?

Cargo insurance is not a requirement in most states, but it is really important insurance to have even though a lot of owner/operators don't buy it. Most companies that send out loads will have some kind of coverage for the cargo being shipped, but not all of them. If something happens to what you are carrying, such as theft, vandalism, or destruction, cargo insurance will pay for the loss of the product, so your client does not expect you to hand over money to cover the loss.