Hot Shot Trucking Insurance

If you own a medium-duty or one-ton truck to haul cargo or freight, the types of jobs that you perform are known as hot shots. The loads of freight are smaller than what would be hauled by a full sized rig and the hauling distance is usually shorter.

Commercial insurance for hot shot trucking

With no shortage of loads that need to be hauled, hot shot trucking can be a lucrative business. Factor in that your startup costs are lower than that of purchasing, maintaining, and insuring a rig, and becoming a hot shot driver starts to make a lot of sense.

Insurance requirements for hot shot drivers vary by state, but generally you’ll need the following types of coverage:

  • Commercial liability - This type of coverage protects you in the event of an accident that you’re found at fault for where either injury or property damage occurred.
  • Cargo insurance - Covers the merchandise that you’re hauling in the event of loss or damage. Check with your shippers to see what limits of coverage you need to work with them.
  • Physical damage - This isn’t required, but it’s a good idea to protect your investment. This covers any damage to your truck or equipment attached to it in case of an accident.

How to save money on a hot shot insurance policy

There’s a wide spread in the cost of hot shot insurance policies. This is because there’s a lot of variation in the types of truck that drivers use, the type of cargo they transport, and the radius that they operate. For a liability based hot shot insurance policy, you can expect to pay $6,000 a year or more.

It’s possible to lower your insurance rate by maintaining good driving behavior and keeping a clean driving record, paying your policy premium in full every year, and choosing a policy with a higher deductible. To get a hot shot trucking insurance policy that’s right for your business, call us at ###### or get a quote online.

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