When running a trucking business, insurance is one of the most critical expenses to consider. Whether you’re an owner-operator or manage a fleet, understanding the average cost of truck insurance helps you budget effectively and ensure compliance with legal and safety requirements. At DiamondBack Insurance, we provide instant online quotes, instant online binding, and an instant online insurance proposal to make the process seamless.
Factors Affecting Truck Insurance Costs
The cost of truck insurance varies based on several factors, including:
- Type of Truck & Usage – Heavy-duty trucks and long-haul routes typically have higher insurance costs due to increased risk.
- Coverage Type – Basic liability insurance is more affordable than full coverage, which includes collision, cargo, and general liability protection.
- Driving History – Safe drivers with a clean record pay less for truck insurance compared to those with accidents or violations.
- Location – Insurance rates fluctuate based on the region, with urban areas often having higher premiums.
- Experience – New trucking businesses tend to pay more compared to established companies with proven safety records.
Average Cost of Truck Insurance
On average, truck insurance costs range between $8,000 and $14,000 per year per truck for owner-operators with their own authority. However, the price can vary significantly based on the factors mentioned above. For fleet owners, the cost per truck may be lower due to bulk policy discounts.
Breakdown of Common Truck Insurance Costs
- Primary Liability Insurance: $5,000 – $7,000 per year
- Physical Damage Coverage: $2,000 – $4,000 per year
- Cargo Insurance: $400 – $2,000 per year
- General Liability Insurance: $500 – $1,500 per year
Get an Instant Online Quote
Understanding the cost of truck insurance is essential, but finding affordable coverage doesn’t have to be complicated. At DiamondBack Insurance, we offer instant online quotes and instant online binding, so you can secure the coverage you need without the hassle.
For an Instant Trucking Insurance Quote, visit: https://diamondbackins.com/trucking-insurance-instant-online-quote/
