Log Truck Insurance: What You Need to Know
The logging truck industry is one of the most dangerous freight-hauling jobs in the transportation industry. If you’re in the logging industry, whether you drive your own truck or lease it out to other companies, you know how dynamic the industry is.
With its dependence on favorable weather and terrain and high maintenance costs on trucks and equipment, the logging industry, despite being one of the oldest thriving industries in the US, is also one of the most challenging ones regarding security and insurance coverage.
Let’s say your truck gets into an accident and sustains damage. The cost of this damage could be very high as the average truck accident cost is $148,279. You could avoid paying much for damages with the right logging truck insurance.
So what is log truck insurance coverage? Log truck insurance provides crucial liability and damage coverage for log haulers who have to navigate many risks daily, from winding roads to highways across the country.
In this article, we will talk about:
- What is log truck insurance?
- How to choose among logging truck insurance companies
- How much is log truck insurance
- How to get cheap log truck insurance
- Why is log truck insurance more expensive
- What it covers
- And more
What Is Log Truck Insurance?
Log hauling liability insurance helps log haulers by covering the damages that might be incurred while loading and transporting millions of tons of logs across the country, tricky terrain, highways, and to sawmills.
Just like you would insure your property for protection against disaster and damage or get medical insurance to help with costs incurred if you have an accident, log truck insurance is a type of freight insurance that does the same for the logging industry, with some key differences.
The difference is that the logging industry, like other heavy transport industries, involves higher accident risks. Incidentally, the heavy material transport industry, of which log hauling is a part, has always been at increased risk for fatal injuries.
Read more: The Guide to Workers Comp for Trucking Companies
Do You Need Log Truck Insurance?
Logging truck insurance is absolutely critical for the hauling industry. Here are some of the biggest risks associated with log trucking, which are important factors in understanding log hauling insurance.
Weight and Size of Logs
Logs can be between 20 to 100 feet long, weighing over a ton each, sometimes. Not only does this make loading them onto trucks a laborious task, but it also results in log trucks being some of the heaviest freight vehicles to run on roads, going up to 80,000 pounds per truck, as stipulated by federal highways, and nearly 100,000 pounds on state highways.
Higher Risk of Truck Tipping
The increased weight of the log trucks significantly increases the risks of truck tipping. This creates a potential risk of accidents, which could be hazardous for the driver and any vehicle colliding, not to mention damage to the logs loaded on the truck.
Unpredictable Weather and Terrain
Not only are log-hauling trucks extremely heavy, but they also navigate rough terrain to get logs from the forests to sawing mills. In addition, as a log hauler, you’re always on the road, sometimes even in unfavorable, rough weather. The unpredictability of weather and terrain only makes the journey more difficult and adds to the risk of accidents caused by bad weather and uneven terrain.
Log Truck Accidents Cause More Damage
In comparison to the damage caused by a collision with a bus, van, or passenger car, the damage caused due to a collision with a log truck can cause serious damage, both to life as well as the colliding vehicle. The likelihood of death or serious, complicated injuries to both parties is significantly higher in the case of log truck accidents.
What Does Log Truck Insurance Cover?
Log truck insurance carriers usually offer the following log truck insurance policies:
- Primary Auto Liability: This policy covers bodily injuries and property damages caused by log truck accidents.
- Physical Damage Coverage: The policy covers damages caused by fire, theft, vandalism, and natural disasters.
- Motor Truck Cargo: Covers the truck driver and the trucking company from financial losses caused by cargo damages.
- Rental Reimbursement: Covers the costs incurred by the rental company if the truck is destroyed.
As mentioned above, log truck collisions can be far more damaging than other kinds of accidents, making it extremely important to focus on the lives of those inside the truck and those who might suffer because of the collision.
Unlike insurance for your car or other passenger vehicles, the liabilities caused by physical damage, in the case of log trucks, are just about limited to fire or chemicals, making it more important to focus on the liabilities of others while writing a logging truck insurance policy.
Policies also cover many possible damage scenarios that could occur in the unfortunate event of a logging truck accident, such as:
- The truck tipping over and colliding with another vehicle
- Logs rolling out and smashing vehicles in the process
- Fatal injuries
Read more: 18-Wheeler Insurance Guide
Why Choose East Insurance Group?
Safe driving is one of the ways to prevent accidents, but since you can’t control other drivers on the road, you need additional help from commercial log truck insurance companies.
With East Insurance Group, you get the best logging truck insurance and insurance quote crafted according to your specific business needs in no time.
Log Truck Insurance Requirements
Log truck insurance requirements vary from state to state. In Florida, log truck drivers must carry the minimum insurance level depending on the cargo type. For example, the minimum requirement for log truck insurance in Florida is $750,000 for primary liability insurance.
Why Is Log Truck Insurance More Expensive?
Log truck insurance is more expensive because the risk of fatalities is bigger due to the heaviness of logs. Furthermore, other passengers in the vehicle are more likely to suffer severe injuries.
Read more: The Complete Guide to Tow Truck Insurance
How Much Does Insurance Cost for a Log Truck?
Whether you are a leased owner-operator or an owner, your log truck insurance quote will vary for you.
For owner-operators who get their vehicle on a lease, the average annual expenditure on insurance can be between $8,000 and $15,000 a year.
This is comparable to the average cost of commercial truck insurance.
Several factors have an impact on the cost of log truck insurance, including:
- Driving record
- Having a written safety plan
- The type of wood you are hauling
- Number of years in business
- The age and value of your truck
Read more: The Ultimate Guide to Business Insurance
How to Reduce Log Truck Insurance Costs?
Insurance is definitely one of the highest fixed costs that log truckers have to incur, irrespective of whether they’re leasing or not.
However, with a careful comparison of quotes and some precautions, you can turn this into a great opportunity to save money.
First of all, make sure you do your homework when it comes to truck insurance companies since their rates are constantly changing. The next thing to do is to ensure your truck is in top condition and all regulations and records are maintained. An out-of-service violation immediately increases how much you spend on your truck insurance.
Pay the full amount for the log truck insurance in one go since this means saving anywhere between 5-10% on your policy cost. Also, make sure you get all the discounts you are entitled to, such as having a deer guard or a written safety program.
Lastly, like any other policy, you can also lower your premium for log truck insurance by maintaining and raising your credit with your insurance provider.
At the end of the day, you want to make sure you get yourself a log truck insurance policy that gets you the most protection against damages and liabilities, and that too, from a reliable insurance company that understands the tricky bits associated with log truck insurance.
Read also: Commercial Truck Insurance
What is a Logging Truck Called?
A logging truck is also called a timber lorry. This large truck is used to carry logs. Some logging trucks have integrated flatbeds, while others have more discrete tractor units.
Confused about log truck insurance, or need some help getting a quote for your business? Call us or fill out a quote request form and get all the information you need fast and for free!
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