Owner Operator Insurance

NITIC specializes in providing the most affordable owner-operator truck insurance in the US. We understand the uniqueness of every trucking business and its associated risks. We offer suitable and custom-made best trucking insurance coverage that meets your needs without straining your wallets.

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Broad coverage and premium protection for your trucks
Whether you are an owner-operator working on your own authorization or under a lease to a motor carrier, you need a unique type of coverage that protects your daily operations from potential mishaps. Owner-operator truck insurance covers you from all the possibilities that can impair your trucks and further damage your business.

What is owner-operator truck insurance?

Owner operator truck insurance protects your trucking business and its operations from all potential risks. Due to their large size, trucks can cause massive damage and grave injuries on the road. You need to add a complete layer of protection to your trucks in the form of owner-operator truck insurance from such risks to carry out your business without hiccups.

Who needs owner-operator insurance?

All the above need a certain amount of coverage to protect their business and truckers. For example, owner-operators who are working/driving on their own authority require independent owner-operator insurance for trucking. In this case, they require independent owner-operator insurance to cover the medical cost and other property-related damages resulting from an accident.

What is the cost of owner-operator truck insurance?

There are several factors that impact the cost of truck insurance and it is difficult to give the exact figure without analyzing them. These aspects are:

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What are other owner-operator coverages you need?

The type of coverage that you need falls depends on the two categories i.e.
If you are working under a motor carrier then you will need the following coverages:
Now, if you are working as an owner-operator for your own business then you need specific types of truck insurance such as:

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FAQs

A single lawsuit or a severe accident can certainly put your business and its operations on long hold. If trucking is the sole source of your income then such risks can impact your livelihood and financial state. Also, you need to carry minimum coverages are prerequisite in the eyes of the law. To protect your business and money from all potential risks and operate legally on the road, you need the right owner-operator truck insurance coverage.
In most cases, the past driving records of truckers, traffic violations, location, and history of accidents affect the owner-operator insurance coverage. Also, the kind of coverage highly depends on your insurance needs. However, you can expect the following coverages if you take owner-operator truck insurance:
  • Non-trucking liability or liability coverage
  • Physical damage
  • Medical costs
  • Passenger accident
  • On-the-job accidents
  • Property damage
  • Loss of life/physical disability
Yes, as an owner-operator you can lower the cost of your truck insurance by the following methods:
  • Stay in your business for longer.
  • Keep your driving records clean.
  • Hire experienced truckers with good past driving records.
  • Opt for a higher deductible.
  • Use newer trucks as the older model’s insurance costs are mostly higher.
Yes, to operate lawfully on the road you are required to carry commercial truck insurance with you even if you are leased to a carrier. Depending on the deal and terms with your carrier, we recommended you always review your lease agreement before signing it.