Insurance Requirements for Owner Operators Lawrence, Indiana
JDW Truckers Insurance can answer your questions regarding Insurance Requirements for Owner Operators Lawrence, Indiana. We work with the top commercial truck insurance companies and will help you find affordable owner operators truck insurance.
We have a large network of commercial truck insurance companies Lawrence, Indiana with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Lawrence, Indiana in place you will be insured by a financially stable commercial truck insurance company. This is important for many reasons. Contact JDW Truckers Insurance and our agents will review the reasons owner operators should choose their insurance company wisely. Not all owner operator truck insurance policy are created equally.
We will help you customize your owner operators trucking insurance policy to suit your needs and fit your budget.
From one application we can shop & compare commercial truck insurance rates for the top-rated commercial truck insurance companies for you. We will help you find the required commercial truck insurance coverages at affordable rates.
Here are some of the top 10 commercial truck insurance companies which offer commercial truck insurance quotes.
We know trucking and the commercial trucking insurance requirements
- Knight
- Trisura
- Berkley Prime
- Falls Lake
- Progressive
- Travelers
- Seneca
- Great Lakes
- Allied World
- Allianz
- Ace Hazmat
- ACE Fleet
- United Specialty
- Hudson Fleet
- Markel
- Chubb
- Tokio Marine
- National General
- Lexington
- AIG
- Great American
- ACE / Westchester
- NICO
- National Casualty / Nationwide
- Scottsdale Brokerage
- IAT
- Crum Forster
- Canal
- Northland
- USLI
- James River
- IFG – Burlington
- Penn-America
- Century
- Hallmark
- Carolina Casualty
- Protective
Auto Liability Insurance
- Your auto liability or primary liability will be the major cost for your trucking insurance policy. Although the FMCAS can only require $750,000 in most cases shippers will require $1,000,000 in primary liability insurance coverage before they will allow you to pick up loads.
- Primary liability insurance covers damages to third parties for bodily injury and physical damage to others property in the event of an accident.
Medical Pay
- In most cases this is a low cost add on to your primary liability insurance to cover medical expenses.
PIP – Personal Injury Protection
- Some states require this coverage and, in many cases, can reduce the need for Medical Pay.
- Personal injury protection (PIP), also known as no-fault insurance, covers medical expenses and lost wages of you and your passengers if you’re injured in an accident. PIP coverage protects you regardless of who is at fault.
Uninsured Motorist
- If you’re hit by a driver with no insurance…
- Uninsured motorist bodily injury (UMBI) may pay medical bills for both you and your passengers.
- Uninsured motorist property damage (UMPD) may pay for damage to your vehicle.
Underinsured Motorist
- If you’re hit by a driver with not enough insurance…
- Underinsured motorist bodily injury (UIMBI) may pay medical bills for both you and your passengers
- Underinsured motorist property damage (UIMPD) may pay for damage to your vehicle
Motor Truck Cargo
- MTC or Cargo insurance provides insurance on the freight or commodity hauled by a for-hire trucker. It covers your liability for cargo that is lost or damaged due to causes like fire, collision or striking of a load.
- If your load is accidentally dumped on a roadway or waterway, some cargo forms offer Removal Expenses coverage pays for removing debris or extracting pollutants caused by the debris. And can also pay for costs related to preventing further loss to damaged cargo through Sue and Labor Coverage and legal expenses in the defense or settlement of claims. Another option is Earned Freight Coverage to cover freight charges the customer loses because of an undelivered load.
- Cargo insurance deductibles can be set at $1,000, $2,500, $5,000 or even higher if you are self-insured.
- Cargo coverage limits are normally set at $100,00 but some shippers may have higher requirements depending on the cargo you are hauling.
- Cargo policies can have exclusions stating what cargo it will or will not cover.
Trucking Physical Damage Insurance (PD)
- Physical damage insurance coverages are designed to pay for losses to your equipment and damages to others equipment. (Others equipment must be listed on your policy).
- If you own or lease equipment. You may be required to have PD by bank or leasing company to carry a set amount of physical damage insurance and name them as a Loss Payee.
- PD can also cover damage to others equipment you are in possession of if the coverage is listed on your policy. An example would be non-owned trailer insurance coverage.
- Deductibles for physical damage range from $1,000 to $5,000.
- Required deductibles. If you have a loan on your equipment or it is leased. They bank or leasing company may have a minimum deductible you can have on your physical damage policy.
Excess Liability Insurance
- Excess liability can sometimes be called umbrella insurance.
- The excess liability policy sits on top of your primary liability policy.
- For example, if you have $1,000,000 in primary lability coverage and you have a claim which exceeds the policy limit of $1,000,000. In most cases that is all the insurance carriers will try to pay out for a claim.
- Excess policy coverage starts at $1,000,000 and go up.
- So, let’s say you say you purchased a $1,000,000 excess policy. Now if you have a claim that is $1,500,000. Your primary would pay the first $1,000,000 and your excess would pay the remaining.
General Liability Insurance for Truckers
- General liability insurance for truckers should not be confused with primary liability for truckers.
- Similar to primary liability. General liability offers coverages to pay for physical damage to other and/or bodily injury to others. BUT there is a difference between the two.
- For example, if you are loading or unloading and you cause injury to someone or their property this is when the general liability policy would respond.
- The actions of a driver while representing the insured and on the premises of others, such as loading docks and truck stops
- General Liability is normally offered $1,000,00 per occurrence and $2,000,00 aggregate. What does this mean?
- It the insurance company will pay up to $1,000,000 for any one claim and no more than $2,000,000 per year for the total of all claims.
- General liability can be required by shippers and other companies such as the UIIA and flatbed operations.
- If there is any chance you might be involved in loading or unloading. General Liability is relatively inexpensive and is an advised coverage.
Non-Owned Trailer Insurance vs Trailer Interchange (TI)
- Both are insurance coverages are designed to cover damage to others trailers.
- Deductibles for either can range from $1,000 to $5,000.
- Coverage limits for either can range from $25,000 and up depending on the requirements of the company and/or shipper freight you are hauling for.
The difference between Non-Owned Trailer coverage and Trail Interchange coverage
- Non-owned trailer insurance covers physical damage to the trailer only when attached to a truck. And no written agreement is place.
- Trailer Interchange requires a written trailer interchange agreement to be in place. It can provide protection when you have care, custody and control of one, or many, trailers. Whether the trailer is attached to your truck or not.
Lawrence is a city in Marion County, Indiana, United States. It is one of four “excluded cities” in Marion County. The city is home to Fort Benjamin Harrison within Fort Harrison State Park. The population was 49,370 at the 2020 census. The city is on the northeast side of Indianapolis.
The municipality was platted in 1849 under the name “Lanesville”, but other names were tried because there was already another Lanesville in Indiana. The name “Jamestown”, in honor of the town’s founder James White, was used for a while, but in 1866 the Marion County Commissioners approved the name “Lawrence”, which is also the name of the township in which it is located. The name was in honor of Captain James Lawrence, naval hero of the War of 1812. In 1929 the citizens of Lawrence voted to become an independent town, where they first established the town marshal, as well as other parts of government.
In 1969, Indianapolis and Marion County adopted a unified government structure known as Unigov. Lawrence is one of four “excluded cities” and therefore retains its own municipal government. Its citizens vote not only for the mayor and council of Lawrence, but also for the mayor of Indianapolis and representatives on the Indianapolis City-County Council.
Lawrence is located in northeastern Marion County at 39°51′46″N 85°59′39″W / 39.86278°N 85.99417°W (39.862739, −85.994264). It is bordered to the east by Hancock County, including the town of McCordsville. Downtown Indianapolis is 9 miles (14 km) to the southwest. U.S. Route 36 (Pendleton Pike) runs through the city, leading northeast 22 miles (35 km) to Pendleton. US 36 intersects Interstate 465, the Indianapolis beltway, at that highway’s Exit 42 at the southwest corner of Lawrence. Exit 40 on I-465, with East 56th Street and North Shadeland Avenue, is along the western border of Lawrence.
According to the U.S. Census Bureau, Lawrence has a total area of 20.25 square miles (52.45 km), of which 0.10 square miles (0.26 km), or 0.48%, are water. Fall Creek, a southwest-flowing tributary of the White River flows through the northwest part of the city, and in places forms the city’s northwest boundary. Fort Harrison State Park is in the northwest part of the city as well.
The climate in this area is characterized by hot, humid summers and generally mild to cold winters. According to the Köppen Climate Classification system, Lawrence has a humid continental climate with hot summers and year around precipitation, abbreviated “Dfa” on climate maps.
At the 2010 United States Census, there were 46,001 people, 17,864 households, and 11,949 families in the city. The population density was 2,285.2 inhabitants per square mile (882.3/km). There were 19,515 housing units at an average density of 969.4 per square mile (374.3/km). The racial makeup of the city was 63.2% White, 25.8% African American, 0.4% Native American, 1.4% Asian, 0.1% Pacific Islander, 5.7% from other races, and 3.5% from two or more races. Hispanic or Latino of any race were 11.2%.
Of the 17,864 households 38.7% had children under the age of 18 living with them, 44.2% were married couples living together, 17.5% had a female householder with no husband present, 5.3% had a male householder with no wife present, and 33.1% were non-families. 27.6% of households were one person and 8% were one person aged 65 or older. The average household size was 2.56 and the average family size was 3.12.
The median age was 34.2 years. 28.2% of residents were under the age of 18; 8.1% were between the ages of 18 and 24; 29.3% were from 25 to 44; 24.9% were from 45 to 64; and 9.6% were 65 or older. The gender makeup of the city was 47.5% male and 52.5% female.
The median household income was $54,254 in Lawrence compared to the state median of $48,393. Roughly 31% of Lawrence residents have a bachelor’s degree compared to 22.7% of all Indiana residents.
At the 2000 United States Census, there were 38,915 people, 14,853 households, and 10,337 families in the city. The population density was 1,937.8 inhabitants per square mile (748.2/km). There were 16,292 housing units at an average density of 811.3 per square mile (313.2/km). The racial makeup of the city was 78.58% White, 15.51% African American, 0.30% Native American, 1.80% Asian, 0.08% Pacific Islander, 1.86% from other races, and 1.87% from two or more races. Hispanic or Latino of any race were 4.73%.
Of the 14,853 households 39.8% had children under the age of 18 living with them, 52.1% were married couples living together, 13.0% had a female householder with no husband present, and 30.4% were non-families. 24.8% of households were one person and 5.9% were one person aged 65 or older. The average household size was 2.60 and the average family size was 3.13.
The population was diversified at 29.9% under the age of 18, 7.7% from 18 to 24, 36.2% from 25 to 44, 18.0% from 45 to 64, and 8.2% 65 or older. The median age was 32 years. For every 100 females, there were 95.2 males. For every 100 females age 18 and over, there were 91.3 males.
The median household income was $47,838 and the median family income was $56,609. Males had a median income of $38,924 versus $30,406 for females. The per capita income for the city was $22,543. About 4.8% of families and 6.7% of the population were below the poverty line, including 8.2% of those under age 18 and 5.1% of those age 65 or over.
The Lawrence Township school district is the ninth largest and one of the fastest growing districts in the state. It operates four Early Learning Centers, eleven elementary magnet schools (grades 1–6), two middle schools (grades 7–8), two high schools (Lawrence Central and Lawrence North), a center for innovation and technology, and an alternative setting high school. In the 2018–2019 academic year there were 16,035 students with a high school graduation rate of 92.7%. Lawrence Township schools offer high ability programs, Advanced Placement (AP and ACP), International Baccalaureate Program, vocational and career education programs, and bilingual programs. The district holds 45 state championships and 5 national titles in various inter-curricular competitions. Those titles include championships in basketball (Lawrence North – 2006) and marching band (Lawrence Central -1998, 2001 and 2004). The diversity makeup of the district is .05% American Indian, 23.5% White, 45.3% Black, 6.9% Multiracial, 1.1% Asian, .05% Pacific Islander, and 23.1% Hispanic, as of the 2017–18 school year. Lawrence also has a public library, a branch of the Indianapolis Public Library.
Small Fleet Commercial Truck Insurance
Small fleet truck insurance encompasses a large portion commercial truck insurance policies that are written for truckers. You need an agent that understands these markets.
We will explain your options in detail. We answer your questions. How many trucks can I grow to? Can I add and remove trucks? How fast can I swap trucks? Can I have owner operators leased on? How fast can I get a COI?
Small fleet truck insurance pricing starts at 3 trucks. We work with 20 plus commercial truck insurance companies to help you find the best commercial truck insurance rates. Our carriers have high AM Best Ratings.
GET SMALL FLEET TRUCK INSURANCE QUOTES HERE
UIIA Insurance
No matter if you are a seasoned trucking operation hauling UIIA intermodal or you are looking to expand the cargo you are hauling. We have markets to help you either way.
Does your policy have the CA 2317 endorsement? What chassis pools are your working with? If you work with an EP that in not on the UIIA EP list. How is this handled? For example, Direct Chassis. Does your trailer interchange offer the same coverage as non-owned trailer coverage? Do you have the correct blanket AI and WOS endorsements? Do I need workers compensation? Can I work ports and rails? Is there a radius limit? You do not want to buy a commercial truck insurance policy only to find out it will not offer the correct UIIA coverages. Your agent should have a network of commercial truck insurance companies who offer the correct UIIA endorsements on your policy?
New Authority Truck Insurance Quotes
Shopping for the Best Trucking Insurance for New Authority can be task that never seems to end. You get phone call after phone call. And in many cases each agent you speak with may have a different story concerning what type of coverages you need and what is a good price. Chances are most new authorities shop for the best price. You want the least expensive but buying based upon price only could cost you more money in the long run. What if you buy insurance for your new authority based upon price only? Then find out shortly after you have paid your deposit and your policy is in place. The agent who sold you this policy did not tell you the restrictions your commercial truck insurance company has in place. They may not offer coverage for certain types of cargo or may restrict your growth. There are many pitfalls for buying just based upon price. It is good to shop and compare quotes, but do it based upon price and the know the restrictions that maybe enforced by the carrier. Not knowing these restrictions could get your policy cancelled. Or you may have to cancel the policy yourself to get insurance coverage with another carrier. Either way this could put you back to ground zero and cost you money. Talk with an agent at JDW Truckers Insurance who will help you shop for the best price with the correct coverages.
