Hotshot Truck Insurance
At NITIC, our goal is to offer the best hotshot truck insurance products and services to you in a hassle-free manner. We understand the needs of a wide variety of drivers who drive Hotshot vehicles, and we are fully committed to providing you with professional insurance coverage that meets your needs.
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Who Needs Hotshot Trucking Insurance?
People who use pickup trucks to transport less-than-loads within a short window, typically to individual clients, need hotshot insurance. It makes no difference if they also have a large vehicle that they employ for interstate or intrastate transportation. Hotshot trucking is an entirely separate category which is why it can typically require a customized hotshot truck insurance plan.
Three different truck types are employed in hotshot trucking:
Hotshot Truck Insurance Coverages You Need
This safeguards your hotshot truck against physical loss from fire, theft, and vandalism.
Why Choose NITIC
The National Independent Truckers Insurance Company, RRG is a well-known multi-line commercial truck insurer. Because NITIC is one of the largest and most well-known insurance companies in the United States, with an AM Best Rating (B+) and a Financial Rating of B++, it is aware of the hazards that carriers face in the modern insurance market.
Hotshot truck insurance is a type of commercial insurance policy which is designed for truckers and businesses who haul cargo using a truck and trailer. If you are into this business, you require hotshot insurance coverage to protect it from several potential risks on the road.
- The restrictions your company has can cause prices to fluctuate. Depending on your shipper, the larger the limit is preferable since many shippers would be pleased to know that you can transport mounds of cargo.
- Your credit rating can also affect the cost of the insurance policy.
- The type of truck you operate.
- Damage to stationary objects and other vehicles during a collision
- Covers the expenses of repairs.
- The medical costs associated with accident-related injuries are covered by insurance.
- It also includes compensation for lost earnings for those hurt in auto accidents.
- It provides coverage for your vehicle or trailer in the event of a fire, robbery, damage, or other physical losses other than accidents.
Your cargo insurance requirement depends on various aspects. If you want adequate coverage for your vehicle then before setting its limit, consider factoring in the following:
- Type of truck: Heavy duty truck and old model trucks which needs regular maintenance and repair require a high level of coverage.
- Freight and cargo: The limit of insurance coverage should cover the amount and value of freight you carry.
- Moving hours: Trucks that transport shipments at the night are exposed to more risks than in daylight. So you need to set the coverage limit keeping that in mind.
There are multiple factors that affect the rate of hotshot trucking insurance. This means the cost of this truck insurance varies from trucker to trucker. The following are some of the major influencing factors that decide the rate of hotshot truck insurance:
- The value of trucks and trailers.
- What sort of cargo do you haul?
- The deductibles you have chosen.
- The limit of coverage.
- The radius of your business.
- The experience and driving record of the trucker.
For dually trucks, you need specialized trucking insurance namely hotshot insurance to protect it against various unexpected risks. This insurance is ideal for small trucks that transport goods under a speedy timeline. It covers the cargo, the vehicle used to transport it, and the trailer.
Hotshot truck insurance covers you against the following risks:
- Protect your truck and trailer in the event of a collision.
- Pays for the damages done to other vehicles or property.
- Pays for the truck repair costs after an accident.
- This policy covers the medical expenses arising out of an accident.
- Covers for the damages or loss of cargo after theft, collision, fire, etc.
- Reimburse for the cost of repairing or replacing the truck or trailer after an accident.