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2021 Midwest Road, Suite 300 Oak Brook, IL 60523
Auto Liability
Note:
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This is required by FMCSA
Trucking companies have a legal obligation to acquire Auto Liability or Truck Liability Insurance. This insurance safeguards the motor carrier against any legal liability that may arise from owning, maintaining, and using insured vehicles. The minimum coverage limit required by state and federal regulations (BMC-91 or BMC-91X) is $750,000 combined single limit. However, we strongly advise our clients to consider obtaining $1 million in coverage, as it is a standard requirement from freight brokerages and shippers. Opting for higher coverage provides better protection to the motor carrier, especially considering that a single accident can result in claims that far exceed the aforementioned limits.
For motor carriers transporting certain hazardous cargo, the FMCSA BMC-91/91X mandates a minimum of $5 million in auto liability coverage. It is also recommended and prudent for all motor carriers to explore the option of purchasing excess or umbrella policies to effectively address their risks.
Moreover, depending on the nature of your operation, there are various other types of insurance to consider. If your company does not actually own the vehicles or has them titled under its name, it may be necessary to acquire HNO (Hired & Non-Owned) coverage. This type of coverage also extends protection to employees who use personal vehicles for company purposes.
PinPointing main features
Understanding the significance of robust insurance coverage in the trucking industry, it is vital for companies to prioritize appropriate protection. Let's delve into four essential aspects to consider.
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Mandatory Liability Insurances
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Higher Coverage Recommendation
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Hazardous Cargo Requirement
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Additional Coverage Options
Another crucial coverage options to think about are Trailer Interchange Liability Insurance and Non-Owned Trailer Coverage. This is particularly relevant if your company is involved in hauling trailers that are not owned by your business.
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Fast
QuotationComplete the required information & get your policy fast.
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Tailor-made policies
Customized to meet your unique needs and requirements.
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Superior
claim serviceSupport in processing your claims.
Talk to our insurance experts
Feel free to reach out to our team of insurance experts if you have any questions or need assistance in finalizing your plans. We're here to help! Our dedicated staff is always delighted to speak with you, provide guidance, and offer support.
