how much does commercial truck insurance cost in california

What Does Commercial Truck Insurance Cost?

Commercial truck insurance is an indispensable type of coverage for businesses offering trucking services. This insurance coverage protects owner operator truckers, small and large fleet truckers, as well as businesses with trucks. Whether you are a for hire trucker or hauling your own goods, commercial truck insurance protects against claims of injuries and / or damages to third parties.

The cost of commercial truck insurance varies greatly depending on several factors. To address this question better, we will look at our truck policies sold through the years and divide them into the following two groups:

For-Hire Trucker Insurance Policies

These policies covers truckers who haul goods and cargo such as produce, grocery items, electronics, garments and all general freight that is hauled on a for-hire basis. Specialty policies for truckers hauling specific items such as rail and shipping containers, logging, automobiles, large equipment, and other specialty goods.

Not For-Hire Truck Insurance Policies

These are policies written for companies that have trucks but haul their own goods. Business such as furniture, or mattress stores and other retailers that own large vehicles to transport their own goods.

How are prices calculated

Our rates for commercial truck insurance are determined by the insurance company that we place you with. Insurance companies normally use several factors to calculate the rate of your premium. Each of these factors can significantly influence the overall cost of your truck insurance coverage. What you are hauling, where you are hauling to, driving records, age of equipment, and accident histories all factor into the overall price of a policy.

With this in mind, your rate may vary greatly depending on these factors. If you are unsure of what to expect, please give us a call to speak to our licensed professionals or start a custom quote online.

With that said, here are some rating factors that most insurers use to calculate the cost of commercial truck insurance.

USDOT Authority

Your USDOT operating history has a bearing on the cost you have to pay for truck insurance. Any previous violations could lead to higher rates.

Motor Vehicle Record, and Accident History

The driving record of the drivers, along with the driver and your company accident history is a big factor in your final rate.

Type of Vehicle

An extra heavy tractor /  trailer combination is likely to cause more damage in case of an accident compared to a light bobtail truck. For this reason, the extra heavy tractor / trailer will attract higher insurance premiums.

Radius of Operation

We issue policies with the following radius options 100 miles (local radius), 300 (intermediate radius), 500 miles (also intermediate), and unlimited (long haul radius). Each radius of operation has a different price structure. The longer the radius the higher the rates.

Type of Cargo

The type of cargo in transit has an influence on the insurance rates. Your insurer will look at the potential damage the cargo will cause in case of an accident. For instance, heavy industrial equipment will cause more harm than fresh farm produce in case of an accident. Thus, the former will attract higher premiums.

Contractual Obligations

The different companies you haul for might have different limit requirements which will cause the price to vary. It is very important to know what the requirements are for the companies that you want to work for. This will help keep your price stable throughout the year.

Can I get cheap commercial truck insurance?

Commercial truck insurance is likely the highest ongoing cost of business, BUT it is also the most important part of maintaining the business, and protecting the drivers and owners. The best priced insurance is one that is a combination of a good price for the coverage you need, first-rate customer service and a highly rated insurance company that understands your business.

When shopping for truck insurance, here are a few important points to consider:

Adjust your coverage

The more coverage you obtain, the more protection you get. However, buying more coverage means you have to pay more. Lowering your physical damage limit, raising your deductibles are easy ways to lower your cost of insurance. With this in mind, you should find the right balance by adjusting your coverage to save on the total cost.


Monthly, and yearly payment plans

The yearly total cost of commercial truck insurance might seem expensive at first glance and difficult to manage. However, you shouldn’t allow these figures to shock you. Break the total cost into monthly payments. This way, the cost will be less intimidating and much easier for you to budget. GW Truck Insurance offers a number of payment plans including:

  • A down payment with a 9 pay plan
  • A down payment with a 10 pay plan
  • A down payment with a 12 pay plan (so there is no down payment in the following years)
  • Credit card payment options
  • Full year in advance options

Contact us for help

We have been writing truck insurance to the California Trucker for over 25 years, this gives us the experience and contacts to offer you commercial truck insurance options at competitive rates with highly rated insurance companies. Our truck insurance policies are tailored to provide you the desired coverage, and at the same time, save you on costs.

Call today or click the get a quote link. We will be glad to review your insurance needs and work to get you the best coverage and the most competitive pricing.

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