Insurance Requirements for Owner Operators Madison, Alabama
JDW Truckers Insurance can answer your questions regarding Insurance Requirements for Owner Operators Madison, Alabama. 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 Madison, Alabama with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Madison, Alabama 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.
Madison is a city located primarily in Madison County, near the northern border of the U.S. state of Alabama. Madison extends west into neighboring Limestone County. The city is included in the Huntsville Metropolitan Area, the second-largest in the state, and is also included in the merged Huntsville-Decatur Combined Statistical Area. As of the 2020 census, the population of the city was 56,933, an increase over the 42,938 from the 2010 census. Madison is bordered by Huntsville on nearly all sides with some small unincorporated lands within and around Madison in Madison and Limestone counties.
Madison was mostly a small city for many years, with its population being around 400-500 for much of its history until the Redstone Arsenal was established to the southeast, which attracted many people to the area for jobs. This rapidly increased the city’s population and stimulated economic growth. Many of Madison’s residents work in Research Park or the Redstone Arsenal. Madison has been one of the fastest-growing cities in Alabama, as well as one of the wealthiest in the state. In 2021 census estimates, Madison was the 9th largest city in Alabama and the second largest city in North Alabama trailing only nearby Huntsville.
The area was occupied historically by the Koasati (also known as Coushatta), a Muskogean-speaking people. Before them were thousands of years of indigenous cultures.
Madison’s first European-American resident was John Cartwright, who settled in the area in 1818. The city was originally known as “Madison Station”, as it developed in the 1850s around a stop of the Memphis & Charleston Railroad. Textile mills were built in the area in the late 19th century for processing and manufacture of cotton products.
Madison was the site of a battle in the American Civil War. On May 17, 1864, Col. Josiah Patterson’s 5th Alabama Cavalry, supported by Col. James H. Stuart’s cavalry battalion and a section of horse artillery, drove Col. Adam G. Gorgas’s 13th Illinois Infantry Regiment from the city. Patterson’s men captured the 13th Illinois Regiment’s wagon train, taking 66 prisoners. They also burned Union supplies and tore up the railroad tracks before retreating. Portions of the 5th Ohio Cavalry, the 59th Indiana Infantry, and the 5th Iowa Infantry were sent in pursuit from Huntsville. They skirmished with Patterson’s rear guard that evening at Fletcher’s Ferry on the Tennessee River south of Madison.
The town was incorporated in 1869. From 1880 to 1950, rural Madison had a population of some 400-500 residents.
In the World War II and postwar period, military and NASA operations were moved to Huntsville, stimulating an increase in population in the region. Subsidized highways stimulated suburbanization, attracting residents to outlying areas where new homes were built. By 1980, Madison’s population was 4,057. In the late 20th century, Madison’s population increased rapidly as it developed as a suburb of Huntsville. In 1986, Madison voters overwhelmingly voted to remain independent by not merging with Huntsville. By 2010 its population had grown to 42,938, and over the following ten years it grew to a population of 56,933.
According to the U.S. Census Bureau, the city has a total area of 30.5 square miles (79.0 km), of which 30.3 square miles (78.6 km) are land and 0.1 square miles (0.3 km), or 0.43%, are water.
Madison is located at 34°42′54″N 86°44′23″W / 34.71500°N 86.73972°W (34.715065, -86.739644), primarily within Madison County, while extending west into Limestone County. Downtown Huntsville is 11 miles (18 km) east of the center of Madison, although Huntsville also borders Madison to the south and west. Athens is 17 miles (27 km) to the northwest, and Decatur is 16 miles (26 km) to the southwest, across the Tennessee River.
As of the 2020 United States census, there were 56,933 people, 18,825 households, and 13,540 families residing in the city.
As of the US Census of 2010, 42,938 people were residing in the city, an increase of 44.6% from the 29,329 residing there in 2000. The population consisted of 16,111 households and 11,770 families. The average household size was 2.65, while the average family size was 3.16. 30.8% of the population was age 19 or younger, 61.0% was 20–64, and 8.2% was 65 or older. The median age was 37.0 years. The population was 49.3% male and 50.7% female.
The racial makeup of the city was 74.0% White, 14.6% Black or African American, 0.5% Native American, 7.0% Asian, 0.1% Pacific Islander, 1.3% from other races, and 2.6% from two or more races. 4.6% of the population were Hispanic or Latino of any race.
According to the Madison Chamber of Commerce, Madison was the fastest-growing city in Alabama as of 2010.
The median income for a household in the city was $92,136, and the median income for a family was $111,217. The per capita income for the city was $41,490. About 3.9% of families and 4.9% of the population were below the poverty line, including 5.9% of those under age 18 and 3.4% of those age 65 or over.
Madison’s largest employer is Intergraph, a computer software company. It is a subsidiary of Hexagon, a Swedish software company that bought Intergraph in 2008 and invested in the city and area to improve it. Currently, they are working on a streetlight maintenance program for Madison. Thousands of Madison residents commute to jobs at Cummings Research Park and Redstone Arsenal in nearby Huntsville, about 12 miles away. The high-tech and academic positions in the area have attracted numerous highly educated, professional residents.
The Madison City School System, formed in 1998, serves over 10,000 students from the city of Madison and town of Triana. It has consistently been rated as one of the best school systems in the state. The current superintendent is Dr. Ed Nichols. Nationally, it ranks in the top 5 best school systems.
As of 2012, the school system has seven elementary schools serving grades K-5 (Columbia Elementary School, Heritage Elementary School, Horizon Elementary School, Madison Elementary School, Mill Creek Elementary School, Rainbow Elementary School, and Midtown Elementary School), two middle schools serving grades 6-8 (Discovery Middle School, Liberty Middle School), and two high schools serving grades 9-12 (Bob Jones High School and James Clemens High School). There was formerly an additional elementary school, West Madison Elementary; however, it is permanently closed and planned to be adapted as a pre-K center. Madison Elementary, built about 1936, is the oldest school in the system.
In 2019, Madison residents approved a voluntary property tax increase in order to fund school growth and expansion. These funds were used to build Midtown Elementary School (completed in 2020) and were also used to construct Journey Middle School, opening for the 2023-2024 school year.
The Madison Record and the Madison County Record have been newspapers for the city since 1967. The Madison Weekly News was another local newspaper.
Madison is served by Interstate 565, US 72 (University Drive), and Madison Boulevard (Alabama State Route 20, and Alt. US 72) and Gillespie Road, as main routes for east–west traffic. Slaughter Road, Hughes Road, Wall Triana Highway, and County Line Road serve as main north–south roads in the city.
The Norfolk Southern railway has the main line and a spur running through Madison. The Port of Huntsville, an intermodal center that includes Huntsville International Airport and a rail cargo center, is located just south of the city.
The Rocket City Trash Pandas (formerly Mobile BayBears) is a Double A Southern League affiliate of the Los Angeles Angels that moved from Mobile, Alabama to Madison. The team was to begin play in Madison at Toyota Field beginning in April 2020, but coronavirus concerns delayed the team’s debut until May 11, 2021.
The City of Madison has several greenways and parks within city limits.
Madison is working with the nearby cities of Huntsville and Decatur to create a 70-mile bicycling and walking trail.
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.
