Owner Operator Insurance Requirements Lehigh Acres, Florida
JDW Truckers Insurance can answer your questions regarding Owner Operator Insurance Requirements Lehigh Acres, Florida. 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 Lehigh Acres, Florida with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Lehigh Acres, Florida 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.
Lehigh Acres is an unincorporated area and Municipal District in Lee County, Florida, United States. As of the 2020 Census the population was 135,272. Lehigh Acres is part of the Cape Coral-Fort Myers, Florida Metropolitan Statistical Area. Lehigh Acres is also one of the fastest growing communities in the State of Florida as well as the United States.
A large portion of the community is served by the Lehigh Acres Municipal Services Improvement District, a special-purpose district created by the Florida Legislature which covers areas in Lee and neighboring Hendry County.
Lehigh Acres is located in eastern Lee County at 26°36′30″N 81°38′21″W / 26.60833°N 81.63917°W (26.608333, -81.639167). It is bordered to the north by Alva, to the northwest by Buckingham, and to the southwest by Gateway, all unincorporated. It is bordered on the west by the city of Fort Myers, the Lee county seat, and extends east to the Hendry County line.
Florida State Road 82 forms the southern border of the community; the highway leads west 15 miles (24 km) to the center of Fort Myers and southeast 20 miles (32 km) to Immokalee.
According to the United States Census Bureau, the Lehigh Acres CDP has a total area of 94.2 square miles (243.9 km), of which 92.7 square miles (240.0 km) are land and 1.5 square miles (3.9 km), or 1.61%, are water.
Lehigh Acres was developed in the mid-1950s by Chicago businessman Lee Ratner. Seeking a tax shelter, Ratner had sold his pest control business and faced the possibility of losing most of his earnings to the high capital gains tax of that era. Ratner heard that cattle was a good investment for people in his predicament, and he bought 18,000 acres (73 km) of land in eastern Lee County and named it the Lucky Lee Ranch. After ranching for a while, and despite having no prior development experience, Ratner joined with Gerald H. Gould, a Florida advertising executive, Manuel Riskin, a Chicago CPA, and Edward Shapiro, a former Chicagoan who was in the real estate business in California, and began land sales at Lehigh Acres.
Gerald Gould was the president of the corporation that developed Lehigh Acres, which began in 1954. He remained as president until the company was sold in 1972.
Since the days of the Lucky Lee Ranch, the boundaries of Lehigh Acres have stretched to cover 61,000 acres (250 km), including the runways of the former Buckingham Army Airfield, a major Army Air Forces training base that was closed at the end of World War II. The pasture land where Ratner’s cattle roamed and the since broken up runways where military flight crews trained has been divided into some 152,000 0.25-acre (1,000 m) and 0.5-acre (2,000 m) lots for housing, along over 1,400 miles (2,300 km) of roads. Strips of land along major thoroughfares, such as Homestead Road and Lee Boulevard, were set aside for commerce. In 1997, nearly 90% of Lehigh Acres’ lots remained vacant.
In 1992, Lee County, with the cooperation of a new developer, declared Lehigh Acres to be blighted, and authorized its Community Redevelopment Agency to take steps towards improving infrastructure and planning elements neglected by the original developer. It is estimated that nearly $11 million would be needed to repave the development’s roads.
A surge in housing prices led to a boom in Lehigh Acres new-housing construction from 2003 to 2007, peaking at more than 7,500 new homes constructed in 2006. The number of homes built during this period exceeded the total number of homes constructed during the preceding 50 years.
But as in much of the United States, the real-estate boom of the 2000s went bust. The median house price in the Fort Myers area peaked in late 2005 at $322,300. Three years later, it had plummeted to $106,900. A reliance on construction jobs no longer available pushed the unemployment rate in the area of Lehigh Acres and Fort Myers to 14% by the summer of 2009. Property values reached a low in 2008 of $106,900. By late 2014, property values averaged $169,200.
