What Every Fleet Owner Should Know About Trucking Insurance Requirements
Running a fleet means endless tasks: managing drivers, maintaining trucks, and keeping customers happy. But one critical area often overlooked is trucking insurance. It’s not just a legal must-have; it’s vital for a successful business.
Navigating federal and state insurance rules can be tough. Ignore them, and you face huge fines or even losing your operating authority. Think of trucking insurance as your business’s safety net. One accident without enough coverage can lead to financial disaster, costing far more than a good policy. That’s why understanding and updating your coverage is so important.
At Insurance Company Cincinnati Ohio, we simplify these requirements for fleet owners. We ensure your business is compliant, protected, and ready for growth.
Federal Trucking Insurance Requirements (FMCSA)
The Federal Motor Carrier Safety Administration (FMCSA) sets minimum trucking insurance rules for most companies operating across state lines. The main one is public liability insurance. This covers bodily injury, property damage, and environmental cleanup from accidents.
The required amount depends on what you haul:
- General freight: Typically a minimum of $750,000.
- Hazardous materials: Can be up to $5,000,000, depending on the material.
You must file proof of this coverage with the FMCSA (usually Form BMC-91 or MCS-90) to get and keep your operating authority
Key Trucking Insurance Requirements You Need to Know
Trucking insurance compliance is essential for meeting federal and state requirements. These regulations ensure that trucking companies can cover damages, injuries, or accidents caused during operations. For fleet owners, maintaining compliance means securing the right types of trucking insurance, including liability coverage, at or above the required minimum limits. Failing to meet these requirements can put public safety at risk and lead to costly financial penalties for your business. Stay compliant and protect your fleet with the proper trucking insurance coverage.
State-Specific Trucking Insurance Rules
Federal rules are just the start. Many states have their own trucking insurance requirements, especially for carriers operating only within that state. These can include:
- Cargo insurance
- Uninsured/underinsured motorist coverage Specific state filings
Some states might even demand higher liability limits or special policy endorsements. It’s crucial to work with an expert trucking insurance partner, like Insurance Company Cincinnati Ohio. We understand both federal and state laws, ensuring you’re compliant everywhere your trucks operate. This helps you avoid costly fines and legal issues from missed state-specific rules.