Commercial Truck Insurance

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Why Use EAST INSURANCE GROUP for Commercial Trucking Insurance?

Competitive rates

If you're looking for fair rates and great coverage, we can help you get several quotes from reliable companies.

Options to fit your needs

There are multiple commercial trucking insurance options that work with independent representatives, brokers, and consultants across the United States.

We make it easy

We take care of all the legwork behind the scenes, so you can focus on your business without worry.

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Types of Semi Truck Insurance

As trucking continues to be a growing industry, professional truck drivers keep driving more and more. With all those miles, it’s important to secure truck drivers and choose the right truck driver insurance for your business.

The right insurance for your company will mostly depend on the type of trucks you own and how they are used. For example, a tractor-trailer has higher minimum liability insurance requirements compared to a truck used for local deliveries only. Here are a few main types of truck driver coverages you can choose from:

General Liability Insurance

Covers the damage done to others and their property. Usually required by the law.

General Liability Insurance

A minimum of $750,000 is required.
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Physical Damage Coverage

Covers the truck and trailer in case of theft, fire, and other accidents.

Physical Damage Coverage

Between $2 and $3 per month for every thousand dollars in truck value.
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Non-Trucking Liability

Covers property damage or injury caused by a driver on personal time.

Non-Trucking Liability

Usually between $28 and $55 per month.
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Bobtail Insurance

Covers your commerical truck if your not pulling a trailer.

Bobtail Insurance

The average cost is between $30 and $40 per month.
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Motor Truck Cargo Insurance

Covers your cargo in case it gets damaged or stolen.

Cargo Insurance

Federal minimums usually require at least $750,000 in coverage.
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Vehicles We Cover

Vehicles We Cover

Trucking Coverage

Trucking Coverage

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How Much Does Commercial Truck Insurance Cost?

With the number of truckers drivers at an all-time high, insurance rates have also climbed. The average cost for commercial insurance for semi-trucks ranges from $600 to $1000 per month for the range of transportation truckers. 

But some states will be significantly more expensive.

Commercial truck insurance quotes depend on various factors, such as:

  • Operating radius
  • Driving history
  • Vehicle type
  • Cargo
  • Coverage requirements
  • USDOT authority

For Example

Truck insurance in Los Angeles may cost approximately $1,166 per month.

Here at East Insurance Group, we consider several factors to help you lower your insurance rates.

How Much Does Commercial Truck Insurance Cost?

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Trucks or Heavy Goods Vehicles (HGV) are a vital part of many businesses today. Transporting all kinds of goods is crucial for business, but driving a truck can be a dangerous activity. Whether you are an owner-operator or you own a growing fleet of trucks, you should consider the best ways of protecting their assets, and that includes getting HGV insurance.


Costs of your semi-truck insurance, i.e., owner-operator truck insurance, can vary widely. The cost of primary liability coverage can range from $5,000 to $7,000, while general liability costs can vary between $500-600.

For Example

A truck insurance in Los Angeles may cost approximately $14,000 per year.

Here, we have a number of factors to consider while understanding the costs and limits of each type of insurance and how best to lower the rates of insurance while still being able to gain maximum benefits in case of damages or liabilities. 

Commercial Truck Insurance Benefits

Commercial Insurance for Any Vehicle

Commercial truck insurance will accept any type of truck for any amount of coverage, from passenger vehicles to cargo vans to semi-trucks. 

No Limit to Number of Vehicles

Under the commercial truck policy, there are no limitations to the number of vehicles you can insure as there are with the personal auto policy. 

Medical Payments

This coverage will pay for reasonable medical and funeral expenses to the business, employees, and passengers in your truck, no matter who is at fault. 

Uninsured/Underinsured Motorist Limits

With commercial semi-truck insurance, the company will offer much higher limits on uninsured/underinsured coverage. 

Hired Auto Liability

This policy endorsement will extend your liability coverage to a truck you rent or lease. 

Hired Auto Physical Damage

Similar to hired auto liability, this coverage provides coverage for physical damage to a truck you rent or lease on behalf of the company. 

Stated Value versus Actual Cash Value

Many companies will allow the policyholder to insure the truck based on “stated value” rather than “actual cash value,” which can save premium dollars if the company can purchase vehicles for much less than the market value.

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Truck Driver Insurance

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While there are several types of semi-truck insurance coverages, what you need as a new business owner will depend on your status as an owner-operator for the business. Suppose you are an owner-operator with a permanent lease to a motor carrier for your trucks. In that case, some aspects of your commercial truck insurance will be covered by the motor carrier, reducing your costs for driver’s insurance.


On the other hand, if you are an owner-operator under your own authority, you will have to take care of all liabilities for insuring your trucks and your drivers. This is relatively more expensive.


The insurance plan you choose for your business will have a number of provisions covered. Understanding what is covered, what isn’t, how frequently you make payments, and other truck insurance requirements can help you choose the best plan.

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What Influences the Cost of Truck Insurance?

Commercial truck insurance quotes depend on factors, such as: Driving history, operating radius, vehicle type, cargo, coverage requirements, and USDOT authority.

What is The Average Commercial Truck Insurance Cost?

The average cost is between $3,000 and $5,000 per year for owner-operators that lease a motor carrier. The average cost is between $9,000 and 12,000 per truck for owner-operators. 

How to Lower Truck Insurance Rates?

You can lower your insurance rates with a better driving history, buy a bundled package, pay yearly, pay a higher deductible, and compare various companies. 

Where is the Cheapest Truck Insurance in the US?

When looking for affordable truck insurance policies, one of the best ways to find one is to look into truck insurance rates by state. Out of the 50 states, the following have the cheapest business truck insurance:

  • Mississippi
  • Wyoming
  • Massachusetts
  • Iowa
  • Arizona

If you have any further questions check our FAQ section where you can find additional useful information.

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What Influences the Cost of Truck Insurance?

For owner-operators with a permanent lease with a motor carrier, the average truck insurance cost is between $3,000 to $5,000 per year. For owner-operators with their own authority, the cost of semi-truck insurance can be much higher — around $9,000 to 12,000 per truck per year.

Prices of semi-truck insurance have risen steadily over the years, with the cost ranging between $12,000 and $18,000 currently for new authorities. The cost for insurance can depend on a range of factors, other than the owner-operator status too. Here are the factors that can influence your search for cheap truck insurance the most:

  • The cost of your truck
  • What type of goods are being hauled
  • The driver’s age and their experience with a commercial driver’s license
  • Distance being driven
  • Your credit history
  • Your payment plan — whether yearly, monthly, or per policy period


Every truck insurance company rates each of these factors differently, offering different truck insurance quotes and packages. Once you understand what type of insurance you need and what coverages it includes, it helps to compare prices from different policy plans and then make your decision.

Average Commercial Truck Insurance Cost

Average truck insurance costs can vary quite a bit. For example, the cost of primary liability coverage can range from $5,000 to $7,000. Since all businesses require it by law, motor carriers cover this liability. However, under your own authority as an owner-operator, you have to make sure you purchase this coverage in your plan. Additionally, general liability costs can vary between $500-600.

Physical damage or basic truck coverage costs range from $1,000-$3,000, including both collision and comprehensive insurance. Occupational accident coverages cost business owners $1,600-$2,200, whereas the cargo insurance really varies according to what type of cargo is being hauled. Bobtail insurance, i.e., insurance for damages when not hauling any cargo and on personal business, costs about $350-$400.

In addition to the above-recommended insurance coverages, here are some other liabilities you may want to consider for your business:

Trailer Interchange Insurance:

Required when you are hauling someone else’s trailer full of goods, and the company that owns the trailer does not have insurance to cover their goods.

Umbrella Insurance:

Costing about $500-$700, umbrella insurance covers any gaps that may have occurred in your policy.

Uninsured/Underinsured Motorist:

The least expensive yet very useful type of coverage, it covers damages caused to you when you are involved in an accident without your fault and the other person is not insured enough to cover your expenses.

Hazmat Insurance:

If you are hauling hazardous materials such as chemicals, fertilizers, or fuels, then you will need this type of insurance.

Livestock Cargo Insurance:

As the name suggests, when hauling live animals (horse hauling), in the event of injury, death, or escape, this insurance will be useful to you.

Calculate your commercial truck costs with our truck financing calculator.

How to Lower Truck Insurance Rates?

Finding cheap truck insurance isn’t impossible, but you need to know a thing or two to get it. As we mentioned before, trucking insurance companies offer quotes that depend on many different factors. However, there are a few ways you can lower the rates of your 18 wheeler insurance.

  • Better Driving History
    Trucking insurance companies generally want to work with drivers who don’t cost them much money. They will offer cheaper truck insurance rates to businesses whose drivers have clean driving records.


  • Bundle Package
    To lower the costs of your semi-truck insurance, it is always a better practice to bundle together all your liabilities in one heavy truck insurance package rather than buy them separately.


  • Paying Yearly
    Trucking companies that pay their insurance in a lump sum once a year, as opposed to paying monthly, reduce their premium overall by almost 10%-20%. With the high cost of semi-truck insurance policies, however, this figure can vary.
  • For example, a truck insurance quote that costs $11,300 annually may seem too much. However, if you break it into monthly payments, you get an average semi truck insurance cost of $942 per month.


  • Compare Truck Insurance Rates
    To find the best or the cheapest truck insurance you need to shop for policy packages from different trucking insurance companies and compare the premiums, deductibles, and coverages in each. Companies rate different factors on which your insurance depends differently and therefore offer their policy packages at different prices.


  • Consider Higher Deductibles
    In order to keep your premiums low, you might want to consider higher deductibles and lower limits.

Where is the Cheapest Truck Insurance in the US?

When looking for affordable truck insurance policies, one of the best ways to find one is to look into truck insurance rates by state. Out of the 50 states, the following have the cheapest commercial truck insurance:

  • Idaho
  • Mississippi
  • Wyoming
  • Iowa
  • Nebraska


However, the insurance rates in these states can change depending on whether you don’t have your U.S. Department of Transportation Administrations (USDOT) filling. For example, Oklahoma isn’t the most affordable state for trucking insurance, but it is a great state to own a commercial trucking business due to reasonable rules and regulations, but also, low gas prices. Truck insurance in Maryland is also one of the most expensive in the U.S..

As you can see, there are several ways you can keep your truck insurance low.

East Insurance Group offers competitive rates for your trucking insurance needs, so what are you waiting for? Just drop us a line or give us a call, and we’ll set you up with just the insurance plan you need!

Black man truck driver in the cab of his commercial truck.

Commercial Truck Insurance FAQs

Who is Insured Under a Commercial Truck Insurance Policy?

Business owners purchase commercial truck insurance, which covers expenses for drivers named in the policy. That includes the passengers and individuals who were harmed in a trucking accident. Almost any truck can be covered under a trucking insurance policy, but different insurance providers may cover certain types of trucks.

After I Start a Policy, How Long Does It Take to Get My Flings Issued?

Once the insurance company receives a demand letter, they will assign an adjuster to handle it. The adjuster reviews claims and decides whether the carrier should pay them. Usually, under the terms of the insurance policy, the adjuster must complete an initial review and send a response within 30 days.

Does Truck Insurance Cover Personal Use?

Truck insurance can cover the cost of damages if the vehicle is used for personal activities besides its primary business use.

Does My Truck Insurance Cover My Trailer?

Sometimes, your commercial truck insurance will cover your trailer but not its contents. If your trailer isn’t covered, you will need to buy an insurance policy that is specific to your trailer. 

What Information Do You Need to Buy Commercial Truck Insurance?

Here is some information you will need when purchasing a commercial truck policy:

Personal information:

  • Name, address, and phone number
  • Social security number
  • Driver’s license info

Business information:

  • Business name
  • The business tax ID
  • Business address
  • The states you will drive in
  • The type of cargo you will haul

Vehicle information

  • Year/make/model
  • Purchase price/value
  • Vehicle identification number
Calculate your commercial truck costs with our truck financing calculator.