Why Insurance for Dump Trucks is Important? Find the Answer Here!

You might wonder why insurance for dump trucks is highly important, and also how much do their cost? Well, learn all about dump truck insurances here typestrucks.com.

Insurance for dump trucks is highly important to consider for business owners or independent truckers. Approximately, there are over 28,000 companies that provide dump truck services, and in 2022, that number will increase by 2.1%. Dump truck services are increasingly in demand as mining and construction operations expand.

Why Insurance for Dump Trucks is Important? Find the Answer Here!

insurance for dump trucks
insurance for dump trucks

A dump truck business can be successful and offer the chance to live a good life. Commercial truck insurance is necessary to operate a dump truck or a fleet of dump trucks. Every state in the US has regulations requiring insurance for dump trucks. The good news you won’t find any difficulties in finding commercial insurance for dump trucks.

What is Dump Truck Insurance and Who Needs Them?

If you own a dump truck business and haven’t register them for an insurance, better you’ll do it now! Dump truck insurance is a particular type of commercial vehicle insurance designed for companies who utilize these large vehicles to transport a variety of commodities, such as gravel, soil, sand, and other materials. The commercial truck insurance for dump trucks is known as dump truck insurance.

Dump truck insurance is required regardless of whether you are an owner-operator of a single dump truck or a motor carrier running a fleet of dump trucks. It provides protection for your dump truck business in the event of an accident and is legally needed in all 50 states. Nowadays, it’s not hard to find commercial insurance for dump trucks.

How Much Does a Dump Truck Insurance Cost?

How Much Does a Dump Truck Insurance Cost?
How Much Does a Dump Truck Insurance Cost?

All dump truck classes are automatically classified as being in a higher risk category based on their GVW as well as the weight and type of cargo they are hauling. Dump truck insurance is therefore probably going to cost higher. Dump truck commercial truck insurance policies can range in price from $2,400 per vehicle per year to $7,200.

A trucking company will typically be able to obtain the most affordable insurance rates if it has been in business for two years or longer, has a stable loss history, excellent safety ratings, and experienced drivers. On the other side, you will have to pay more if your trucking firm is new, you’ve had losses, or your drivers are unskilled.

Many companies actually offer insurance policy dump trucks with various options. Before registering for an insurance policy, it’s always better to check the maximum limits allowed in your state. For example, if you live in Texas, you might want to look for information about max amount of insurance coverage for dump trucks texas that we are going to provide you next.

Dump Truck Insurance Regulations in Several States

As we’ve mentioned before, each State have their own regulation when it comes to insurance for trucks. Here we’ll provide you with information about dump truck insurance limits in Texas, California, and Florida. Read more about them below!

Dump Truck Insurance Limits in Texas

Dump Truck Insurance Limits in Texas
Dump Truck Insurance Limits in Texas

In Texas, dump trucks frequently transport materials including gravel, sand, and dirt. Texas specifies that large commercial vehicles with a gross weight of more than 10,000 pounds have primary liability insurance coverage of at least $500,000. Because FMCSA mandates $750,000 in liability coverage. However, this max amount of insurance coverage for dump trucks texas only applies if you never cross state lines. In Texas, the majority of dump truck businesses spend between $5,000 and $20,000 annually on insurance.

One of the best insurance company to use for dump trucks in Texas is Progressive. In fact, most dump truck owners or users use Progressive’s offers to insure their dump trucks. Progressive’s area of expertise including owner-operators, motor carriers, and private carriers. Truckers in Texas have been covered by the insurance for almost 40 years.

Progressive, in contrast to some other carriers, offers specialized dump truck insurance plans that include both primary liability insurance and physical damage coverage. Additionally, Progressive works closely with motor carriers to complete their federal and state financial responsibility filings. Also, they have a capable claims department for large vehicles.

Dump Truck Insurance Limits in Florida

Dump Truck Insurance Limits in Florida
Dump Truck Insurance Limits in Florida

Florida classifies your business vehicle as a dump truck if it has an open rear, a hydraulic lift, and both. Sand, gravel, asphalt, coal, and other materials are all carried by dump trucks. Depending on how much the vehicle weighs, there are different restrictions:

  • between 26,000 and 35,000 pounds: a principal liability of $50,000
  • between 35,000 and 44,000 pounds: a $100,000 first obligation
  • $300,000 in primary liability insurance for shipments above 44,000 pounds.

However, please be aware that these limitations are relatively low. in the event of an accident involving your dump truck, the possibility of significant property damage and medical costs might easily exceed a policy with these limits. One of the most popular insurance companies in Florida that offer the best choice for dump truck policy is biBERK.

The company is a part of The Berkshire Hathaway who specializes on providing insurance for small businesses, including insurance for trucks. BiBerk has gained an AM Best rating of A++ for their insurance service. The insurers bring to the table more than 75 years of insurance expertise. BiBERK has the financial security it needs to cover any insurance claims it might process because Berkshire Hathaway is backing it.

Dump Truck Insurance Limits in California

Dump Truck Insurance Limits in California
Dump Truck Insurance Limits in California

Obviously, California have different limits regulation for dump truck insurance. In California, you must obtain a CA Intrastate ID number and be covered by the following insurance policies if you don’t cross state boundaries and your truck weighs more than 10,000 pounds (as most dump trucks do). The details are as following:

  • 10,000 kg. or less: $300,000 CSL
  • 10,000 pounds or more: $750,000 CSL

You must also abide by FMSCA rules if you cross state borders. Always consider the possibility of getting higher levels of insurance because anyone hurt in a crash with a dump truck could sustain serious injuries. For high-risk drivers like you, The Hartford is the best choice for you. The company is among the oldest insurance company in the States. It started of as a fire insurance provider in 1810. Currently a Fortune 500 company, it offers insurance to over a million businesses in all 50 states for both single vehicles and fleets, but it excels in risk management for commercial fleets in particular.

The Hartford offers commercial truck owners general liability, property, workers’ compensation, umbrella, and excess liability insurance. However, the company does have some downside to consider. They don’t provide quotes for insurance for dump trucks online. Their rates for younger drivers are also among the most expensive one. While they have broad selections of insurance for truck drivers, they only have limited options for single-vehicle drivers.

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