The Best Hotshot Trucking Insurance Companies in 2022

Last updated: 03 January, 2022

Hot Shot Trucking Insurance Companies

Trucking insurance is vital for commercial businesses to keep the huge financial losses at bay. Florida Highway Safety and Motor Vehicles (FLHSMV) reported 339,905 vehicle crashes in 2020 with further injury and fatality counts of 211,804 and 3,286, respectively. At such high traffic crash rates, imagine the risk your business has.

FLHSMV states that proof of liability insurance is mandatory to register a vehicle with four or more wheels. However, finding the right insurance for your vehicle can be quite challenging, especially if you do not have basic knowledge regarding the general overalls. Therefore, here’s a brief guide that you can use as a first step towards learning about trucking insurance.

Hot Shot Trucking Insurance Companies: Coverages

Hotshot trucking insurance comes with coverages such as:

Liability for trucking insurance

Any damage caused by your truck becomes your responsibility. As required by law, driving without a minimum level of insurance is an offense that will subject you to heavy penalties. The liability coverage takes care of:

  • Physical damage to third-party’s properties
  • Third-party bodily injury

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hot shot trucking insurance companies

Cargo for trucking 

The trucking insurance comes with protection for the goods you’re carrying. While the coverage isn’t legally mandatory, some shipping companies may require you to add cargo coverage to your trucking policy.

Non-trucking liability 

When your truck gets into an accident while you’re using your business truck for personal works like going to the grocery store, this coverage pays for the damage. This coverage is for you if:

  • Your motor carrier asks you to obtain the insurance in the lease.
  • You use your truck for non-business purposes

Physical damage trucking insurance coverage 

Physical damage coverage serves your financial interest. Furthermore, the coverage protects you financially by compensating you for damage to your truck caused by fire, flood, theft, and insured perils.

Talk to your insurance agent or insurer for specific coverages attached to a policy. Moreover, do not forget to ask about the additional coverages via endorsements and riders. This is because, endorsements help you add, reduce or modify coverages that a standard policy offers.

Drag Your Trucking Insurance Rates Down

Trucking insurance can be pretty costly in Florida. However, there are a few tips to lower your trucking premiums.

  • Get quotes from multiple insurers
  • Gather information for some time before you purchase
  • Ask for a multi-year policy to cap your premium for certain years
  • Raise your deductibles to save on periodical premium costs
  • Use one insurer for multiple policies to further get bundling discounts.
  • A written plan for maintenance could save you a significant amount of money.

These are some simple ways to lower the premiums. There are many situation-specific discounts you can opt for to save money. Meanwhile, take the first step towards securing your truck and your business by getting a quote from the most trusted insurers in Florida.

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What is hotshot insurance? 

Hotshot insurance is for trucking companies that specialize in accelerated cargo transfer. The terms “expediter’s insurance” and “hot shot insurance” are interchangeable. For many truckers, hauling accelerated loads and hot shot freight is a dream job. 


Is Hot Shot Trucking profitable? 

Hotshot trucking can be a lucrative business if done correctly. You have the option of becoming an owner-operator — that is, owning and operating a hotshot business under your own MC number — or leasing with another firm. 


Is there a demand for hotshot drivers? 

With so many advantages, demand for these services is increasing across the country. Hotshot services are another potential alternative if you need loads carried. Hotshot services are comprised of drivers that utilize their own pickup vehicles rather than a traditional large rig. 

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