What Is It?
Minnesota commercial trucking insurance can help safeguard commercial vehicles from a variety of hazards, including motor liability claims, bodily damage claims, and cargo claims.
Who's It For?
- For Hire Dump Trucks
- Long Haul Truckers
- Produce Haulers
- General Freight Haulers
- Amazon Freight Haulers
- Intermodal Carriers
What Is Offered?
- Auto Liability Coverage
- Physical Damage Coverage
- Unidentified Trailer Coverage
- Motor Truck Cargo Coverage
- Truckers General Liability Coverage
Commercial Truck Insurance In Minnesota
What is Minnesota Commercial Truck Insurance?
Minnesota commercial truck insurance is a form of insurance designed to cover commercial trucking businesses and their operations in Minnesota. It is designed to provide coverage for the losses that the trucking business may face due to damage to its vehicles or third party claims from those involved in an accident with the business’s truck. Minnesota commercial truck insurance covers things such as liability, property damage, medical payments, collision and comprehensive, as well as towing and labor costs. It can also help protect the business in the event of an accident with an uninsured motorist. By purchasing Minnesota commercial truck insurance, businesses can rest assured that their assets and financial resources are protected.
Who Needs Minnesota Commercial Truck Insurance?
Minnesota commercial truck insurance is necessary for any business that owns and operates trucks in the state. This includes trucking companies that use the roads to transport goods across the state, as well as those who drive trucks for local delivery or pickup of goods. Additionally, companies who own trucks for in-state use, such as construction companies and manufacturers, also need Minnesota commercial truck insurance to protect their vehicles and cargo in the event of an accident. Having adequate insurance is a necessary safety measure to ensure a successful business.
How Much Does Minnesota Commercial Truck Insurance Cost
Minnesota trucking companies must be aware of the many variables that affect their commercial truck insurance rates. Size and type of truck, driver’s history, and the type of business are all elements to consider. Generally, prices range from $500 to $1,500 a month. To make sure you have the best coverage for the most economical cost, comparison shop policies and rates from various insurers.
Did You Know?
- Minnesota is one of only a handful of states that require bodily injury and property damage liability, personal injury protection, and uninsured/underinsured motorist coverage.
- In 2019, Minnesota enforced stricter driving laws for hands-free driving and keeping slow drivers out of the left lane on their freeways.
- An estimated 9.9% of drivers in Minnesota were uninsured in 2019, according to the insurance Information Institute. Consider uninsured motorist coverage to protect yourself if the other driver can’t pay.
Source: Progressive.com
How Do I Get Minnesota Commercial Truck Insurance?
For commercial truck insurance in Minnesota, Coast Transport Insurance Service is the best place to start. You should also get in touch with the Minnesota Department of Commerce, which offers resources regarding insurance coverage. Additionally, consulting with a lawyer or tax consultant is beneficial in understanding all the insurance needs. Furthermore, reviewing the rules and regulations of the state will guarantee you are correctly insured and adhere to any relevant laws.
Factors That Affect Minnesota Commercial Truck Insurance?
There are several factors that can affect the cost of commercial truck insurance in Minnesota, including the driver’s experience level, the value of the truck, and the company’s safety record. Additionally, the type of truck (flatbed, tanker, refrigerated) and its usage (personal vs. commercial) can also impact insurance costs. In Minnesota, the number of accidents the truck has been involved in, the frequency of its use, and the number of miles it drives are all factors that insurance companies take into account. Additionally, Minnesota is a “no-fault” state which can influence premiums. Lastly, insurance rates can be affected by discounts and incentive programs offered by some companies, as well as a company’s experience level in dealing with commercial truck insurance.
Common Minnesota Commercial Truck Insurance Coverages?
Minnesota Commercial Truck Insurance is a type of insurance specifically tailored to the unique needs of commercial truck owners operating in the state of Minnesota. It offers protection against a variety of potential risks and losses, including liability, property damage, collision, medical payments, and more. Minnesota Commercial Truck Insurance is typically purchased from an insurance agent or broker, who can help customize a policy that best fits the needs of a business or truck owner.
Additionally, businesses in the state are required by law to maintain a minimum level of insurance coverage for their commercial trucks, so it’s important to know the exact requirements and find an insurance policy that meets those requirements. With Minnesota Commercial Truck Insurance, business owners can protect their trucks, drivers, cargo, and business against costly risks.
Minnesota Commercial Truck Insurance Filings
Having an Minnesota commercial truck insurance and being legal are two different things. You want to make sure your trucking company is following the rules and regulations of the Minnesota Department of Transportation (MnDOT) and Federal Motor Carrier Safety Administration (FMCSA). The MnDOT and FMCSA both require insurance filings and/or endorsements on your truck insurance policy. We can make sure you get the correct insurance coverages to stay in compliance with MnDOT and the federal government regulations.
- ICC
- MCS90
- Form E
- Form H