How Much Will Hotshot Truck Insurance Cost In 2022?

Last updated: January, 2022

Hotshot Truck Insurance Cost

Hotshot Trucking Insurance can be really inexpensive if you know how to find the best trucking insurance company. Many insurance providers have variable rates. Hence, you must know where to find the best fit for your trucking insurance. If you are an owner-operator looking for the right trucking insurance, we are here to assist you from the beginning

Why Hotshot Truck Insurance?

According to the Kentucky Transportation Center at the University of Kentucky, there were around 9,819 accidents involving trucks. Reportedly, the primary cause of truck accidents was the driver’s inattention. Hence, if you want to avoid such incidents and have a carefree trucking business, trucking insurance is necessary. In many states of the US, getting trucking insurance is mandatory. A driver cannot operate any vehicle unless he/she acquires insurance. If you fail to do so, the state may revoke your driving license. In some cases, you may need to pay penalties. 

hotshot truck insurance cost

Average Hotshot Truck Insurance Cost

The average cost of trucking insurance is $11,429. Most insurance premiums range from $6,573 to $13,993. This cost estimation mostly depends on the truckers with one truck operation who need insurance for liability coverage, cargo insurance, and physical damage coverage. There are numerous factors that affect the cost of truck insurance. Some of the variables are driver’s age, location, driving radius, credit record, and driving history. However, the biggest factor that determines your insurance rate is the type of coverage you choose. You must always be careful while choosing your coverage. Make sure you are not paying for things you do not require. 

 Even if you cannot change the nature of business, but you can change the coverage options and save tons. So, it is a good idea to shop around and search for the best insurance provider before landing on one. Always compare quotes before buying your insurance. It is ideal to compare at least three quotes either online or with the help of your insurance agent. 

Tips to Choose the Right Trucking Insurance 

Truck insurance tends to be on the expensive side but if you follow the basic tips, you can get a good amount off your insurance policy. 

Here are few tips that can lower your insurance rate and help you get the best trucking insurance: 

  • Get a good knowledge of the limits in each of your coverage 
  • Review your policy time and again 
  • Explore your payment options 
  • Hike up your deductibles to pay lesser premiums 
  • Maintain a good driving record 
  • Seek discounts and offers

Moreover, read our other blog, Cheap Pickup Trucks to Insure which provides you the information about the coverage that will help you cover different perils. Also, if you are searching for a local insurance agent lookup here to get the information to find out the best one.

Lastly, get yourself covered from cyber liability insurance that covers you from cybercrime. Also, do you feel in advancing knowledge from e and o insurance for insurance agents to deal with errors and omissions? You can do that from e and o insurance here online. Further, if you feel like you can also be the one, check on an independent insurance agent near you online to save time.


How much does a hotshot trucker make a year? 

You operate for yourself as a business. A well-run hotshot trucker in a decent location for frequent cargoes might earn between $60,000 and $120,000 in gross earnings per year, probably more. The majority of a hotshot’s expenses—fuel, maintenance, insurance, permits and taxes, tolls, and so on—amount to around half of his overall revenue. 

What insurance does a hotshot need? 

After a collision, the FMCSA requires $750,000 in liability insurance coverage to cover others’ personal injury, physical damage/property damage insurance, and environmental repair. 

How much do trucks cost to insure? 

If you own and operate the vehicle, you could anticipate to spend between $9000 and $15,000 per year, including all insurance components, assuming you have a decent driving record. 

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