Owner Operator Insurance

As an owner operator, you enjoy the freedom of the open road and running your own business.

But to protect that business – and your financial future – you need the right insurance.

The Federal Motor Carrier Safety Administration (FMCSA) and the Florida Office of Insurance Regulation regulate the minimum coverage for truck operators. Meeting these requirements is not optional.

But most drivers find that they need more than the minimum to cover all of their risks. We help owner operators comply with regulations and protect their business with comprehensive insurance packages.

Anyone who owns and operates a commercial vehicle needs owner operator truck insurance, whether they're driving under their own Authority or leased to a motor carrier.

Do you operate as an independent carrier? You need the full spectrum of insurance to meet both state and federal requirements:

• Liability
• Cargo insurance
• Physical damage

If you're leased to a larger motor carrier, the carrier should provide primary liability, but you will still need:

• Non-trucking liability
• Bobtail
• Occupational accident
• Other coverages

Still not sure whether you need owner-operator insurance in Florida? We can help. Call us at 702-888-3852 to speak to one of our experienced agents.

Truck drivers or businesses operating independently in Florida can choose from a variety of insurance packages.

Some coverages are required by law, and others provide added peace of mind.

Standard packages will include the essential coverages you need:

• Primary liability insurance: Primary liability is required by FMCSA and covers you while you're under dispatch or transporting freight. It covers bodily injury, property damage and, in many cases, legal defense.
• General liability: Many owner operators purchase general liability to cover business operations when they aren't behind the wheel. This coverage includes premises liability, mistaken delivery, loading/unloading and advertising injury.
• Motor cargo insurance: This essential coverage protects cargo being hauled if it's stolen or damaged in a fire or collision.
• Physical damage: Provides collision and comprehensive coverage. Collision covers repairs if your truck is damaged while in motion, regardless of who was at fault for the accident. Comprehensive covers damage caused by theft, vandalism, fire, weather events or animal strikes.

Additional coverage options are available to bridge the gap in your insurance policies. These aren't required by law, but they give you peace of mind.

These coverages include:

• Uninsured/underinsured motorist protection: Covers financial or medical losses from accidents involving motorists who have no insurance or not enough coverage.
• Medical payments coverage: Pays for medical expenses and funeral costs in truck accidents.
• Trailer interchange: If you frequently pull trailers that belong to different carriers, you need insurance to cover against damage and repairs. Let's say that a multi-car pileup on I-95 damages a non-owned trailer that's in your care. Trailer interchange insurance will cover damage to any non-owned trailer while it's in your custody and control. If you operate under a Trailer Interchange Agreement, this coverage will be required.
• Bobtail: Protects your truck any time you are driving it without a trailer attached, regardless of whether you are on business or running a personal errand. But it will only protect your truck if there is no trailer attached.

If you're leased to a motor carrier, your insurance package should include:

• Non-trucking liability insurance: Covers third-party property damage and bodily injury if you're in an accident while using your truck for personal, non-business use (running personal errands, attending family events, etc.).
• Physical damage: Provides collision and comprehensive coverage for your truck. If you're in an accident, this coverage will kick in to cover repairs to your vehicle regardless of who is at fault.
• Cargo coverage: Covers any cargo you're hauling against damage or loss.

Many Florida carriers have their own specific requirements in their lease agreements. Know the terms of your agreement, and our agents will ensure you get the coverage you need.

Leased owner operators can also benefit from the additional coverages recommended above.

The cost of owner-operator insurance in Florida will depend on several factors, including one of the most important ones: whether they're operating under their own authority or leased to a motor carrier.

Other factors that will impact your insurance costs include:

• Operating Radius: Local drivers within a 100-mile radius often have lower rates than long-haul, interstate drivers.
• Cargo Type: Do you haul hazardous materials or valuable items? The riskier the cargo, the higher the premium cost.
• Driving History: Years of experience and your driving record are typically the biggest factors in your liability premium.
• Equipment Value: Newer trucks with more advanced safety features may qualify for discounts.

Need help with finding the right owner operator insurance package in Florida? Our experienced agents will build a custom plan to ensure your insurance covers all risks so that you can drive forward with confidence.

Meeting state and federal requirements is essential, but most owner operators need more than just the minimum. We'll build a balanced policy that protects your business without adding coverage you don't need.