From Fur Babies to Fire Hydrants: Your Home Insurance Premiums

When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.

Understanding Your Truck Insurance Options As an Independent Operator

Insurance Blog

As a professional truck driver, you are aware you need truck insurance. This insurance falls under the commercial category of many insurance agencies. Depending on your truck driving status, you may fall under different insurance plans and coverages. For example, someone who is an independent operator may have different options than a driver who is an employee of a specific company. If you are an independent operator, here are some of the options available to you for your commercial truck insurance. If you are carrying heavier loads of cargo, you may also want to consider coverages that deal with cargo and any potential damages that may occur to it.

Under Permanent Lease

Under a permanent lease means you are the operator of a truck that is under lease from the company you are contracting with. You are still an independent contractor and not considered an employee of the company. The status of under permanent lease refers to who the owner of the truck is and who is liable for damages or for other issues with the truck that lead to repairs. As an independent contractor contracting with a company, you will need liability insurance, damage coverage, and trailer interchange coverage. 

Owner Authority

Owner authority refers to an independent contractor who not only operates the truck, they also own the truck. This changes the types of coverage only slightly. You will need motor cargo coverage. This will cover any cargo you are carrying for the contract. You will also need coverage for any physical damage and property damage as well. You may also need to consider general liability coverage depending on the coverage stated in your contract. 

Long-Haul Owner Operators

Long-haul truck drivers can either be independent owner operators or independent as an operator only. Either way, there are some commercial truck insurance options you will need to consider. One of the considerations is national coverage or mileage radius coverage. Depending on your contract terms, you may need to have this type of insurance on top of your normal liability and damage coverage options. 

If you have specific questions regarding your truck insurance, contact the commercial insurance provider of your choice. They will connect you with an enrollment specialist. The enrollment specialist will discuss your current status as a driver. This will help them determine what kind of insurance you need and which options are available to you under that insurance category. 


5 August 2022