Owner Operator Insurance Requirements Olive Branch, Mississippi
JDW Truckers Insurance can answer your questions regarding Owner Operator Insurance Requirements Olive Branch, Mississippi. 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 Olive Branch, Mississippi with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Olive Branch, Mississippi 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.
Olive Branch is a city in DeSoto County, Mississippi, United States. As of the 2020 census, the population is 39,711. Olive Branch is part of the Memphis Metropolitan Statistical Area, a region that consists of three counties in southwest Tennessee, five counties in northwest Mississippi, and two counties in eastern Arkansas. Olive Branch was the fastest growing city in the United States, with a growth rate of 838% as of 2010 in a thirty year time frame. Along with other rapidly growing places in DeSoto County, Olive Branch attributes most of its growth and development to the exodus of large numbers of families from central Memphis.
The first permanent Anglo settlers in the area were Stephen Flinn and his wife’s brother-in-law, Milton Blocker. On April 13, 1836, they purchased 1,280 acres (520 ha) of land – known as Sections 34 and 35 – in newly created DeSoto County from Chickasaw chief Lush-Pun-Tubby for $1,600. Flinn conveyed the land to Blocker for $6,400 in 1840. A small community initially known as “Cowpens” sprang up in the early 1840s. The name was changed to “Watson’s Crossroads” in 1842. In 1846, when a post office was established, the name was changed again to “Olive Branch”. Frances Wilson Blocker, a descendant of one of the community’s founders, suggested the name as a way to symbolize the biblical story of a dove bringing a branch to Noah. With the exception of a few skirmishes occurring in an area southwest of the community, Olive Branch escaped much of the destruction and violence during the Civil War.
Olive Branch was incorporated as a town on May 1, 1874. Ben Wesson was elected as the first mayor. At the first census conducted after incorporation in 1880, the population was 73. Kansas City, Memphis & Birmingham built a railroad line through Olive Branch in 1885, connecting the town to Memphis and Birmingham. The town was officially designated a village on March 6, 1888.
At the turn of the 20th century, nearly 200 people lived in Olive Branch. In the ensuing years, several modern amenities were introduced in the village, including the first cotton gin (1910), a public water system (1922), and electrical service (1927). T.H. Norvell’s cheese plant (at the side of present-day BancorpSouth) opened in 1929, becoming the first major industry in Olive Branch. A public sewer system was built, and local streets were paved c. 1940. The village experienced modest growth during the next few decades, rising from 441 in the 1940 census, to 534 in 1950, and 642 in 1960. Growth accelerated in the 1960s, and by 1970 the population had more than doubled to 1,513. In 1971, a site located a few miles from downtown Olive Branch was chosen as the home of Holiday Inn University and Conference Center. Simultaneous with construction of the university, Holiday Inn began work on a 3,000-acre (1,200 ha) industrial park. This was followed by the opening of Olive Branch Airport in January 1973. With a runway length of 6,000 feet (1,800 m), it is currently one of Mississippi’s five most active airports for landings and takeoffs. U.S. Highway 78 was built through Olive Branch in 1974. Such developments and infrastructure improvements brought an influx of jobs, industries, and people to DeSoto County and Olive Branch.
The 1990s were a period of explosive growth in the city; 3,567 people lived in Olive Branch at the 1990 census. In 1996, a land annexation to the west doubled the city’s total land area. By 2000, the population had risen to 21,054, a 490 percent increase over the 1990 figure.
Olive Branch is located in northeastern DeSoto County, at the junction of U.S. Route 78, and State Highways 302 (known locally as Goodman Road) and 305 (Germantown Road/Cockrum Street). Via US 78 it is 22 miles (35 km) northwest to the center of Memphis.
The city’s northern border is the Mississippi/Tennessee state line. The Memphis city limits touch the western portion of Olive Branch’s northern border. The city of Southaven, Mississippi, borders Olive Branch on the west, and unincorporated areas border the city to the east and south.
According to the United States Census Bureau, the city of Olive Branch has a total area of 36.9 square miles (95.6 km), of which 36.7 square miles (95.0 km) is land and 0.2 square miles (0.5 km), or 0.56%, is water.
As of the 2020 United States Census, there were 39,711 people, 13,252 households, and 9,645 families residing in the city.
As of the census of 2010, there were 33,484 people. The racial makeup of the city was 70.2% White, 23.8% African American, 0.5% Native American, 1.6% Asian, and Hispanic or Latino people were 4.2% of the population. The median income for a household in the city was $68,287, and the median income for a family was $75,107.
Many locally owned, small businesses have been operating in Olive Branch for several decades. Examples are Old Style Barbecue and Olive Branch Printing. Several regional businesses, such as Bancorpsouth and Holiday Inn, are also located in the area. In 2003 Memphis lost its only permanent indoor ice rink with the closure of the troubled Mall of Memphis. A new rink opened in Olive Branch in August 2011.
Olive Branch is served by the DeSoto County School District.
Private schools include:
Highway 78, which turns into Lamar Avenue after crossing the border in Memphis, Mississippi Highway 302 (MS-302/Goodman Road), and Mississippi Highway 305 (Cockrum Road, Germantown Road) are the main thoroughfares in the Olive Branch area.
A railroad line to Birmingham from Memphis runs through Olive Branch. It is used by BNSF.
Olive Branch is served by Olive Branch Airport. The closest airport with commercial air service is Memphis International Airport, which is about 30 minutes by car from Olive Branch.
