Bobtail Insurance 101: Everything You Need to Know

Bobtail insurance is not just essential but unavoidable for truck drivers and trucking companies. Let’s face it – accidents happen!

According to the Federal Motor Carrier Safety Administration (FMCSA), bobtail trucks caused 248 fatalities and over 2,500 accidents in the recent year- amounting to 5% of all truck crashes.

Such statistics sadly aren’t unusual because driving a bobtail truck is no easy feat. Without a trailer, most of the truck’s weight sits on the front wheels which have been designed more for steering than stopping power – making it harder to brake and turn corners quickly without skidding. What’s worse? It takes longer to come to a full stop compared with when you’re hauling cargo! This can be especially tricky in emergency situations where every second counts.

If you want to protect yourself on the road, getting insurance coverage for your bobtail truck is a must. In this blog, we are exploring everything you need to know before getting your Bobtail Insurance policy.

Bobtail Insurance Coverage

Bobtail insurance protects truck drivers when they are driving without a trailer or cargo. It can help safeguard truckers if an accident happens under the following circumstances:

• You are on your way to pick up a new load
• You are returning after your last drop-off
• You are in between picking up a cargo and dropping off another

This insurance policy, however, doesn’t cover damages and injuries that may occur while the drivers are hauling a trailer or cargo. It would help if you got other types of commercial auto insurance for such coverage.

Average Cost of Bobtail Insurance

For an average cost of $360 to $600 annually, you can get up to 1 million dollars in bobtail insurance coverage. This cost, however, differs from business to business and can be affected by a wide range of factors, such as:

Your bobtail insurance might take a hit if you have filed multiple insurance claims in the past years. Insurance companies think that if you’ve filed before, chances are higher that you’ll do so again – leaving them with more expensive costs.

Are you rolling with a classic old-timer or the newest model on the lot? Your truck’s value is key regarding how much you pay for insurance. The more expensive your set of wheels is -or if they are super outdated –the higher premiums will be. Plus, having several trucks in tow increases potential risks and costs overall.

• Driving Experience and Records

Drive safely if you want to decrease your insurance premiums. If you are highly experienced in driving trucks and have a clean driving record, chances are your premium will be a lot lower. However, anyone with a reckless history and little to no driving experience has to pay higher.

If truck accidents are more common or a particular region is densely populated, it may mean higher premiums! Your insurer could request your business’s Zip code to assess operating risks in that area. From there, they’ll use local statistics when deciding how much you pay for bobtail insurance.

The right policy limit is vital to avoid being caught up in a sticky situation. Your insurer offers you coverage up to an agreed-upon amount, which means they’ll pay out that much and no more should something happen. The problem? For example, doubling your liability costs from 1 million dollars can double what you pay monthly! Higher limits mean higher premiums – so it’s important to stay savvy when deciding on your perfect balance between cost and protection.

Best Bobtail Insurance Companies in 2023

With so many insurance companies offering bobtail coverage, it can be difficult to determine which ones are the best. In this article, we will explore the top bobtail insurance companies for 2023 and what sets them apart from the competition.

Progressive Insurance

Progressive is the largest commercial insurer in the United States and has insured more than 1.9 million commercial vehicles.

This year, Progressive provided commercial auto insurance with a median rate of $160/month for businesses and contractors. The average monthly cost was around $200 — an affordable option to keep your business on the road!

Why Progressive?

• Offers policies in all 50 states
• Has coverage available for box trucks, tow trucks, tractor-trailers, dump trucks, cement trucks, garbage trucks, delivery trucks, and ice-cream trucks, among a large variety of vehicles
• Provides online quotes
• Offers flexible coverage and payment options
• Expert support for commercial truck customers
• Provides discounts for multiple reasons. For instance – good business experience, CDL certification, paying in full, bundling coverage, etc.
• Unique benefits like customized coverages, competitive rates, and exceptional claims service

Read more about Progressive Insurance>>

State Farm Insurance

State Farm has provided folks with quality insurance since 1922 and offers many attractive discounts like multi-policy savings and rewards for safe drivers. The only issue about this company is their prices – which might be higher than most companies even with all their discounts.

Why State Farm?

• Available in all 50 states
• A++ (Superior) financial strength ratio via AM Best (the highest possible)
• More than 19,000 agents all over America
• Well-known for remarkable customer service
• Offers liability, collision, comprehensive, personal injury protection (PIP), medical payments, and uninsured/underinsured motorist coverage

Read more about State Farm Insurance>>

Renegade Insurance

Renegade Insurance offers an unbeatable combination of specialized service, speed, and certificate capabilities at prices that are music to customers’ ears.

Why Renegade?

• Over 20 markets in every state
• 24-hour claims and customer service
• Mobile app for iPhone and Android
• DOT and compliance audit assistance
• Competitive rates
• Tons of options such as auto-liability coverage, motor-truck coverage, physical damage, non-trucking liability

Read more about Renegade Insurance>>

Sentry Insurance

With over a century of experience, Sentry has earned their reputation as one of the top commercial truck insurance carriers. Offering coverage across all 50 states and with 65 agencies specializing in this type of policy makes them an ideal choice for owner-operators seeking peace of mind.

Why Sentry?

• Option to track and monitor claims online
• Received A+ ratings from AM Best
• Flexible and customizable coverages
• Experienced claims staff
• Available in all 50 states

The Hartford

Since its creation over 200 years ago, Hartford has been a driving force in the insurance industry. Its headquarters in Connecticut provide tailored coverage to fleet owners and owner-operators nationwide – from driver liability protection to total-vehicle range so truckers can get back on the road with peace of mind.

Why Hartford?

• A+ ratings from top credit rating companies A.M. and S&P
• Available in all 50 states
• Offers complimentary coverages
• Special risk engineering services for fleets
• Fleet management programs
• Multiple discount options

Read more about The Hartford>>

Cheap Bobtail Insurance Coverage

Finding cheap bobtail insurance can be challenging, but here are some tips to help you:

• Compare multiple policies and companies

Shop around to find and compare rates between several companies. Also, look out for any discounts the companies provide and figure out all the offers you are eligible for. Don’t finalize the first quote you receive.

• Improve your driving record

Better drivers are less likely to file claims, so insurance companies view them as less risky. Ensure you keep as spotless of a record as possible to take advantage of lower insurance premiums.

• Purchase your policies annually

Consider annual payments to save a few bucks on your insurance premiums. Those who have gone this route can often lock in savings of up to 20%, proving that sometimes the long game pays off!

• Bundle policies if you can

Most insurance companies provide impressive discounts if you purchase multiple policies with them. Why not bundle and save some bucks?

A higher deductible can lower your premium, but you’ll pay more out of pocket if you make a claim.

Conclusion

Understanding bobtail insurance is essential for commercial truck drivers who want to protect their business and livelihood. By knowing the basics of bobtail insurance, including what it covers and how much it costs, you can make informed decisions when selecting coverage that meets your needs. Remember to shop around, compare quotes, and to find the best truck insurance companies for your unique policy. With the right bobtail insurance coverage, you can drive confidently, knowing you are protected.

Get started with your bobtail insurance coverage with the best agents in your area.

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