How Does Trucking Insurance Work?

How Does Trucking Insurance Work?

No matter if you’re a small business owner in the Stratford, Texas area who uses a few trucks for work or the owner-operator of a large trucking fleet in the Amarillo, Texas market, it’s likely in your best interest to consider commercial truck insurance. There are many different types of insurance packages available, with varying kinds of coverage geared toward various businesses.  

Commercial Trucking Insurance Statistics  

Statistics from 2016 demonstrate how beneficial commercial truck insurance can be. According to, that year, insurers collected $100 in commercial auto insurance policy premiums but paid out $110.40. This marked the sixth consecutive year in which underwriting losses outpaced profits. 

Additionally, there are thousands of serious injuries involving trucks across the United States each year. Although you never think that an accident could happen to you or one of your drivers, an accident could occur at any time. In 2016, nearly 4,500 large trucks or buses were involved in fatal crashes, according to the Federal Motor Carrier Safety Administration. Furthermore, there were almost 120,000 injury-related truck or bus accidents that year as well.  

Types Of Commercial Trucking Coverage  

When it comes to choosing a trucking insurance policy in the Amarillo market, there are numerous different options from which to choose. Below, you’ll find a few of the more standard coverage options and factors. Talk with your insurance agency to find a coverage option that better suits your line of business.  

Primary coverage

This is a policy that blends comprehensive insurance and collision coverage. Collision coverage is beneficial because it will only protect your vehicle, but it will cover the costs of any other vehicles damaged in an accident in which your driver was at fault. This insurance coverage is similar to a basic automobile coverage policy for your car 

Non-trucking coverage

These policies exist to protect your Texas drivers when they are not carrying a load. An excellent example of non-trucking coverage is bobtail insurance, which protects trucks after drivers have delivered their load and traveling without cargo. Bobtail insurance can also protect your drivers when they use a truck for personal use. Companies should also consider occupational accident insurance in case of accidental death or dismemberment.  

When choosing trucking coverage, you’ll want to take a look at the insurance premiums on the package you choose. You will likely pay premiums for the duration of the life of the policy. The cost of the premium will depend on a few factors, although it’s a near certainty that they will be higher if your driver has a bad record.  

Lastly, your company will also need to consider the deductible on your policy. Your deductible and premium go hand-in-hand, in that your premium partly depends on the deductible you choose. The riskier you are to the insurance company, the higher the cost of your deductible.   

What Factors Determine An Insurance Policy?  

When it comes to commercial trucking policies, insurers will evaluate a few criteria, including:  

Driving History 

Operating Radius  

Vehicle Type 

Cargo Load  

United States Department of Transportation Authority  

The type of coverage you need 

If you’re in need of help with your commercial trucking policy, Broken Spoke Insurance is here to help. We can help you find the best policy for your trucking business.  Contact us today and get a quote. 


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Phone: (806) 396-2031
Address: 319 N Main St.

Who We Are

Broken Spoke Insurance is Amarillo, TX's trusted commercial insurance company. We are an independent insurance agency that represents numerous insurance companies to best fit your needs.