Motor Carrier Insurance: Cost, Liability & Quotes

The trucking industry is dynamic. Some companies transport only their own goods, while others also take projects from different clients.

If you’re entering the trucking business, knowing the right commercial motor carrier insurance is critical. Here’s a complete guide to coverage, cost, and how to compare quotes.

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What is Motor Carrier Insurance?

Motor carrier insurance protects carriers engaged in private, for-hire, or combined operations, both intrastate and interstate. Introduced by the Insurance Services Office (ISO) in 1993, it’s a must-have policy for any trucking business.

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Motor Carrier Cargo Insurance

Cargo insurance protects your customers’ goods. Typical coverage includes:

• Earned freight charges coverage
• Debris removal
• Reloading expenses
• Loading and unloading coverage

This ensures your business is protected against cargo loss or damage.

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Motor Carrier vs Trucker Insurance

Policy Type	Coverage	Notes
Motor Carrier Insurance	Private, for-hire, or combined carriers	Covers all types of carrier operations
Trucker Insurance	For-hire only	Limited coverage, not for private carriers

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Motor Carrier Liability Insurance

1. Commercial Auto Liability Insurance

Covers damages if your vehicle causes an accident injuring others. Does not cover your vehicle.

2. General Liability Insurance

Protects against customer property damage or bodily injury caused by your business.

3. Auto Physical Damage Policy

Covers damage to your vehicles, with two types:

• Collision Insurance: Covers collisions with vehicles or objects.
• Comprehensive Insurance: Covers non-collision damage, like natural events.

Trailer interchange policies aren’t needed if you use only owned trailers; these are covered under your physical damage policy.

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Vehicles Covered by Motor Carrier Insurance

Each vehicle is assigned a numerical symbol for clarity:

Symbol	Vehicle Type	Notes
61	Any auto	All vehicles under policy
62	Owned auto	Includes trailers or attachments
63	Owned passenger autos	Buses, trolleys, light rails
64	Owned commercial autos	Trucks, tractors, trailers
65	Autos with no-fault coverage	State-mandated coverage
66	Autos with uninsured motorist coverage	Required by state law
67	Specifically described autos	Named in policy declaration
68	Hired autos	Lease, rent, or borrow (except passenger)
69	Trailers in possession	Not owned, liability via interchange
70	Trailers in possession of others	Owned trailers used by others

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Compare Motor Carrier Insurance Quotes Online

Get the best rates from leading U.S. insurers with just a liabilitymotorinsurance Compare costs, coverages, and save money.

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FMCSA Minimum Insurance Requirements

The Federal Motor Carrier Safety Administration (FMCSA) requires carriers to have minimum insurance based on operations:

Carrier Type	Form	Insurance Required	Minimum Coverage
Freight Forwarder	BMC-91/BMC-91X	BIPD insurance	$300K–$5M (hazardous)
Household Goods/Freight	BMC-34/BMC-83	Cargo insurance	$5K per vehicle
Freight Broker	BMC-84/BMC-85	Surety bond	$75K coverage
Hazmat Permit Carrier	MCS-90	Liability policy (via endorsement)	Policy limits by law

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Motor Carrier Insurance Cost

Average monthly costs:

• $1M General Liability: $145.83
• $5M General Liability: $186.78
• Comprehensive Auto: $125
• Collision Insurance: $71.16
• Third-party Fire & Theft: $45

Costs vary by vehicle type, coverage, and provider.

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Best Motor Carrier Insurance Companies

Company	Avg. Cost	Pros	Cons
CoverWallet	$84/mo	Best online quotes, easy policy management	Doesn’t underwrite insurance
Nationwide	$135/mo	Optional coverages, liability & physical damage	No hazmat environmental insurance
Progressive	$100/mo	Discounts & trailer interchange	Only for short-haul or owned operators
The Hartford	$154/mo	Covers employees, comprehensive auto damage	Claims resolution may be slow

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FAQ

1. What is motor carrier insurance?
   “Coverage for trucks, private carriers, and for-hire vehicles. Protects cargo, vehicles, and liability.”
2. How much does it cost?
   “Costs range from $45 to $186/month depending on coverage, vehicles, and provider.”
3. Which vehicles are covered?
   “All trucks, buses, trailers, and leased autos depending on policy symbols.”
4. Can I compare quotes online?
   “Yes, LiabilityMotorInsurance lets you compare top U.S. carriers instantly.”