Truck Insurance in Los Angeles - how much is it?

Los Angeles businesses that deal with transportation daily know that it can get tough on the road, making the trucks’ safety from loss and physical damage essential. However, when accidents happen, you need to fix things immediately to ensure happy clients and a thriving business. To battle these challenges, you’ll need to ensure you have adequate commercial truck insurance.

Having truck insurance policies covering all possible liabilities is ideal, whether you’re running a small number or massive fleet of trucks. Buying truck insurance with complete coverage ensures the longevity and success of your trucking business. 

Here are the different commercial truck insurance coverage options, how much they cost, and where to get the best deals on insurance policies and other insurance services to help you get the best trucking insurance program for your business’s success.

Truck Insurance Coverages in Los Angeles, CA

Whether you’re an owner-operator or own a fleet of trucks, here are the different types of commercial trucking insurance options you may want to consider: 

  • General Liability

General liability insurance provides monetary protection against bodily injuries or property damage sustained while on your business’s premises, or when someone uses your products and services. 

  • Commercial Auto Insurance 

Commercial auto insurance is recommended for truck owners since it covers any vehicles used for business, providing sufficient coverage that personal auto policies don’t. 

  • Motor Truck Cargo Insurance

This insurance policy provides coverage on the freight or commodities and liabilities related to cargo. Out of all the truck insurance, commercial motor cargo insurance is an excellent choice for contractual truckers. It protects you against losses from physical damage, fire, collisions, strikings, and other perils.

  • Non-trucking Liability (Bobtail Coverage) 

Non-trucking Liability offers limited insurance for an owner-operator that’s permanently leased to an (Interstate Commerce Commission of Motor Carrier) ICC regulated carrier. It provides liability protection when the worker isn’t on dispatch trucking or pulling a loaded trailer. 

  • Dump Truck Insurance

Dump truck insurance is a branch of commercial trucking insurance dedicated to dumping trucks since they’re larger than regular vehicles that are more prone to experiencing accidents. 

  • Semi-truck Insurance

Semi-truck insurance or owner-operator insurance is a liability coverage covering expenses for injuries or damages caused to third parties when the operator is at fault. You can add other policies like life insurance or privacy policy, depending on your trucking job. 

  • Workers’ Compensation Insurance 

Workers’ compensation insurance is designed to protect truck drivers and operators if accidents or injuries happen while doing trucking work. Most states require this policy on all kinds of businesses. 

  • Business Owners Policy (BOP)

A business owners’ policy (BOP) is an insurance package policy consisting of multiple insurance coverage, from trucking policies to commercial auto insurance. 

How Much Does Truck Insurance Cost In Los Angeles?

Although several factors affect the total rate for trucking California policies, the average cost is around $14,000 per year in Los Angeles. That’s because most premiums range from $12,000 to $16,000. However, not every insurance company is the same, so ensure you ask for a truck insurance quote to get the best deals and protection for your trucking business and employees. 

When shopping for an insurance plan for your trucking company and drovers, ensure the insurance agency is regulated by the National Association of Insurance Commissioners (NAIC). That’s because insurers regulated by the NAIC are legally operating companies that offer well-chosen policies, lessening the impact of unforeseen perils and accidents in the trucking world – saving you money, your drivers, and your business.