Insurance Requirements for Owner Operators Wayne, Pennsylvania
JDW Truckers Insurance can answer your questions regarding Insurance Requirements for Owner Operators Wayne, Pennsylvania. 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 Wayne, Pennsylvania with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Wayne, Pennsylvania 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.
Wayne is an unincorporated community centered in Delaware County, Pennsylvania, United States, on the Main Line, a series of highly affluent Philadelphia suburbs located along the railroad tracks of the Pennsylvania Railroad and one of the wealthiest areas in the nation. While the center of Wayne is in Radnor Township, Wayne extends into both Tredyffrin Township in Chester County and Upper Merion Township in Montgomery County. The center of Wayne was designated the Downtown Wayne Historic District in 2012. Considering the large area served by the Wayne post office, the community may extend slightly into Easttown Township, Chester County, as well.
The center of the Wayne business district is the intersection of Lancaster Avenue and Wayne Avenue, its main street. The historic Wayne station is located one block north of this intersection. The Wayne business district also includes a post office, a cinema, a hotel, a library, the new Radnor Middle School, and several banks, stores, restaurants, cafes, bars and other commercial establishments. Other institutions and attractions in Wayne include the Wayne Hotel, Chanticleer Garden, and the Valley Forge Military Academy and College.
As of the 2020 U.S. Census, there is a Wayne census-designated place, entirely in Radnor Township.
Wayne’s development began when a railroad stop called Cleaver’s Landing was established. It was renamed Wayne Station after General Anthony Wayne. Parcels in the area totaling 293 acres (1.19 km) were bought by banker J.H. Askin, where he built a mansion named “Louella” after his daughters Louisa and Ella. “Louella” was described as an 80-room stone building with a large porch overlooking manicured lawn. His and surrounding land were bought in 1880 by banker A.J. Drexel and newspaper editor G.W. Childs, to form a larger development they called Wayne Estate. More homes and a hotel were then built. In a brochure from 1887 about their development they noted they had provided Wayne with “water, light and drainage — the three great conveniences of a large city — by the most approved modern methods.” They described Wayne Estate as follows:
The Chanticleer Garden, Downtown Wayne Historic District, North Wayne Historic District, Pennsylvania Railroad Station at Wayne, South Wayne Historic District and Wayne Hotel are all located on the National Register of Historic Places.
Wayne is located on the Main Line (the Paoli/Thorndale Line on SEPTA Regional Rail). The central business district of Wayne is located at the intersection of Lancaster and Wayne Avenues in Radnor Township, Delaware County, Pennsylvania. The area served by the Wayne ZIP code (19087) is large and encompasses areas both in Radnor Township, Delaware County and in the neighboring adjacent municipalities of Upper Merion in Montgomery County and Tredyffrin in Chester County, including the communities of Radnor, Strafford, St. Davids, and Chesterbrook.
St. Davids station, Wayne station, and Strafford station on the Paoli/Thorndale SEPTA Line are in Wayne.
Since, prior to 2020 Wayne is neither an incorporated area nor a census-designated place, all the data was for the ZIP code 19087. As of the census of 2010, there were 32,225 people and 12,754 households residing in the community. The median age was 40.8. The racial makeup of the community was 85.5% White, 7.9% Asian and 5.3% African American, while 3.7% of the population was Hispanic or Latino of any race. The median income for a household in the community was $118,801, and 5.1% of the population was below the poverty line.
Teleflex, Kenexa, and DLL Group (U.S.) are based in Wayne.
Pupils in the Radnor Township portion of Wayne attend schools in Radnor Township School District, while pupils in the Tredyffrin portion attend schools in Tredyffrin/Easttown School District. Those in the northeastern portion of the community in Upper Merion Township attend the Upper Merion Area School District.
Students in Radnor Township attend Radnor High School. Students in Tredyffrin Township attend Conestoga High School. Students in Upper Merion Township attend Upper Merion Area High School.
The St. Katharine of Siena School is a Catholic K-8 grade school located in downtown Wayne operated by the Archdiocese of Philadelphia. Catholic students who live in Radnor Township as well as other towns in the Delaware Valley may choose to attend Archbishop John Carroll High School, located in the nearby community of Radnor.
Many private schools are also located nearby including the Quaker-affiliated Shipley School in Bryn Mawr, all-boys Haverford School in Haverford and all-girls Agnes Irwin School in Rosemont, all located east of Wayne. Another private school, Episcopal Academy, opened in 2008 to the south in Newtown Square.
The Valley Forge Military Academy and College is also located in Wayne.
Nearby post-secondary institutions include Villanova University, Cabrini University and Eastern University. Valley Forge Military Academy is also a junior college.
The Philadelphia Union of Major League Soccer opened its own private school called YSC Academy on September 3, 2013. The Wayne-based academy is designed for student-athletes the club aims to groom for professional soccer. The initial 32 pupils already had experience playing for one of the Union’s academy and Juniors teams.
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.
