For a single truck, commercial trucking insurance premiums in Georgia range from $12,406 to $17,705 for liability, cargo, and physical damage coverage. Rates can vary depending on what you are hauling, your driving history, quality of insurance coverage, and how long you have been in business.
There are a lot of insurance companies out there and many different coverages to consider. To get the best rates on commercial trucking insurance, motor carriers need multiple quotes.
According to the FMCSA, the most popular commercial trucking insurance companies in Georgia are:
- Daily Underwriters Of America
- Great West
- National Indemnity
Save yourself time and paperwork by letting CNS Insurance quote you from multiple insurance providers and show you the best rates for your fleet.
Commercial Trucking Insurance Requirements in Georgia
The FMCSA and the state of Georgia have specific insurance requirements for commercial motor carriers. While some coverages are mandatory, like primary liability, others like physical damage truck insurance and bobtail coverage are frequently included for complete coverage.
Commercial motor vehicles governed by the FMCSA or DOT include:
- Intrastate hauling
- Construction trucks
- Logging trucks
- Cement trailers
- Garbage, dump trucks
- School buses
- Public transportation vehicles
- Towing and storage trucks
- Residential and business movers
- Vans for the elderly or disabled
- And more
Georgia state law wants local or intrastate motor carriers to have at least $100,000 per person and $300,000 per accident of liability insurance. You must get an intrastate only USDOT Number if you do not cross state lines and your truck is over 10,000 gross vehicle weight (GVW).
To note, in Georgia, insurance coverage must allow personal injury victims to join the motor carrier and its liability insurer in a separate suit against the truck operator’s insurance company. The underlying policy must comply with state insurance requirements protecting the public from injury caused by the motor carrier’s negligence. Personal injury victims may be entitled to compensation for lost income, medical costs, pain and suffering, and other expenses related to the crash.
Trucking insurance policies in Georgia follow FMCSA requirements that:
- interstate trucks hauling freight have $750,000 in liability coverage
- trucks hauling oil products have $1,000,000 in liability insurance
- trucks handling hazardous materials (Hazmat) to have at least $5,000,000 in coverage
- trucks hauling household goods must have at least $300,000 in coverage
- vehicles carrying 12+ passengers must have $500,000 or more of insurance
Many carriers add umbrella policies providing several million dollars of additional coverage. This can include:
Non-trucking (Bobtail) Liability: All time spent in a truck is not billable, but it is insurable. When you use your truck for non-business purposes, you need insurance coverage.
Non-Trucking Liability offers liability coverage for property damage or bodily injury to a third party when trucks are being used for non-business purposes.
Cargo Insurance: In addition to covering your vehicles, it is just as important to protect the cargo that you are hauling, whether it is yours or a clients’ cargo.
Truck Cargo coverage insures the contents of the trailer, temperature-control machinery, and other appliances or accessories that keep cargo secure. Coverage is custom and calculated based on the type of commodities hauled and the requirements of the shipper.
Physical Damage Insurance: Any time you drive, you are exposed to risk. Your truck could be damaged in an accident or from another disaster. It could be stolen or vandalized. Any of these issues could put your truck out of commission and compromise your business.
Physical damage insurance coverage is not required on your truck unless your vehicle is leased. If physical damage coverage is optional, it does offer 24-hour collision coverage for damages to your tractor or trailer.
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