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Call us today to get complete Minnesota trucking for hire coverage as fast as possible 855-826-0321. Reliable and affordable all inclusive policies. Call us for you best rates for your for commercial truck insurance. Count on us for delivering unparalleled customer service to meet your load hauling needs.
MOST REQUESTED COVERAGE’S
Auto Liability, Motor Truck Cargo Coverage, Commercial General Liability, Medical Payments, Uninsured Motorist, Underinsured Motorist
Personal Injury Protection (PIP), Owned Auto, Non-Owned Auto, Hired Auto, Collision Coverage, Comprehensive Coverage and Trailer Interchange
Minnesota Commercial Truck Insurance and Requirements
Commercial truck insurance is a specialized type of insurance that covers losses related to trucks used for business purposes. Commercial trucks are those that are used for transporting goods for commerce, including the transportation of materials, equipment, and supplies. In Minnesota, companies that own, lease, or rent commercial trucks must obtain the necessary coverage to be in compliance with state laws. Learn your options and types of coverage available, what is required by law, common exclusions or limitations, and tips for finding the best coverage for your needs.
Types of Coverage
The types of coverage available for commercial trucks in Minnesota include:
• Liability: Liability coverage covers bodily injury, property damage, and legal fees if you are at fault in an accident. It also pays for the cost of repairing or replacing any damaged property associated with the accident.
• Collision: Collision coverage pays for repairs to your commercial truck if it is damaged in an accident. It also pays for any rental cars you may need while your truck is being repaired.
• Comprehensive: Comprehensive coverage pays for damages to your commercial truck not caused by an accident, such as fire, vandalism, severe weather, or theft.
• Uninsured/Underinsured Motorists: This coverage pays for medical costs and other damages if you’re involved in an accident with someone who doesn’t have enough insurance or any coverage at all.
• Cargo Coverage: Cargo coverage pays for any losses related to the cargo you are transporting in your truck if it is damaged or lost due to an accident or other covered event.
In Minnesota, all commercial trucks must have liability coverage with a minimum of $500,000 per occurrence, plus an additional $1 million in bodily injury protection, and $50,000 in property damage protection. In addition, collision, comprehensive, cargo coverage, and uninsured/underinsured motorist coverage is highly recommended.
Exclusions and Limitations
Commercial truck insurance policies usually have some exclusions and limitations that are important to be aware of before purchasing a policy. Some common exclusions include:
• Damages resulting from the use of alcohol or drugs while operating a commercial truck;
• Losses due to driver negligence;
• Mechanical issues or wear and tear;
• Damage to personal property stored in the truck; and
• Damage to items shipped as part of interstate commerce.
Finding The Right Coverage
When choosing the right commercial truck insurance policy for your business needs you should consider a few key factors:
• The type and value of the cargo being transported;
• The number of miles driven each year;
• Your company’s history of claims;
• Your company’s total risk exposure;
• Your deductible amount; and
• The cost of the policy.
Additionally, you should compare policies from multiple providers to make sure you get the best coverage at the lowest price. Even though you may need certain types of coverage due to state laws or regulations, you should review these policies to make sure that they cover all of your operations and unique needs and do not have too many exclusions or limitations.
Below are the classifications of commercial big rig trucking policies.
• Symbol 1 – Any auto, don’t have to schedule them. Covers any auto as long
as the insured is using it. (This is rare nowadays especially for Big Rig Trucks))
• Symbol 2 – Any owned auto. Covers only autos that the insured owns.
Includes autos you acquire ownership of after the policy begins.
• Symbol 3 – Owned private passengers autos only. Covers private passenger
autos. Includes autos you acquire after the policy begins.
• Symbol 4 – Owned autos other than private passenger autos only. Covers only
those autos you own that are not private passenger and for liability for trailers
you don’t own while attached to power units you own. Includes those autos
not of the private passenger type you acquire after the policy begins.
• Symbol 5 – Owned autos. Subject to No Fault State.
• Symbol 6 – Owned autos. Subject to Compulsory Uninsured Motorist Law.
Form you attach when the state requires and insured can not reject uninsured
motorist coverage. It includes autos you acquire during the policy period after
the policy begins.
• Symbol 7 – Specifically described autos. Covers only described autos.
Coverage follows power unit. Non owned trailers have liability with this form. (Most common for Big Rig, Box Trucks and other For-Hire operations)
• Symbol 8 – Hired Auto Only. Covers auto you lease, hire, rent or borrow.
This does not include any auto you lease, hire, rent or borrow from any of your
employees, partners or members, etc.
• Symbol 9 – Non-Owned Autos Only – Coverage auto you do not own, lease,
hire, rent or borrow that are used in connection with your business. Includes
auto owned by your employees, partners, members, etc.
We can easily insure the following Minnesota business types. >Click here to get your free Minnesota Big Rig Truck Insurance Quote<
CEMENT CONTRACTING – COAL HAULING – CONSTRUCTION – COURIER SERVICE – COURTESY PASSENGER TRANSPORT – DEBRIS REMOVAL – DEMOLITION – DIRT, SAND & GRAVEL – ELECTRICIANS – EXPEDITERS – FARMING – FIREWOOD HAULING – BULK FLORIST Refrigerated DELIVERY – FOR-HIRE TRUCKING – FROZEN FOODS TRANSPORT – FURNITURE DELIVERY – GARBAGE COLLECTION – HAZARDOUS MATERIALS HAULING – HOTEL SHUTTLES – HOTSHOT TRANSPORT – ICE CREAM VENDOR – IMPOUND LOT – INTERIOR DECORATING – INDEPENDENT TRUCKING – LANDSCAPING – LEASED-ON BIG RIG TRUCKING – LINEN SUPPLY – LOGGING – LONG-HAUL TRUCKING – MOTORCYCLE DEALERSHIP – OWNER-OPERATOR – PIANO MOVING – PLUMBING – ROCK QUARRY HAULING – RECYCLING SERVICES – REFRIGERATED GOODS TRANSPORT – RETAIL FOOD MARKET – ROOFING – SHOPPING MALL DELIVERIES – SNOW PLOWING – TOW OPERATION – TREE SERVICE – WIDE LOAD HAULER – WRECKER SERVICES and much more.
Commercial truck insurance is an important investment for companies that own, lease, or rent commercial trucks in Minnesota. The state requires specific types of coverage with certain minimum amounts, but additional coverage may be needed based upon your operations. Finding the best policy for your company involves researching providers and reading through the various policies closely to determine which one is right for you. Ultimately, having enough coverage can mean the difference between protecting your business or feeling the financial burden of unexpected damages or liabilities.