Owner Operator Insurance Requirements Short Pump, Virginia
JDW Truckers Insurance can answer your questions regarding Owner Operator Insurance Requirements Short Pump, Virginia. 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 Short Pump, Virginia with high AM Best Rating so when JDW Truckers Insurance helps you get your owner operators truck insurance in Short Pump, Virginia 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.
Short Pump is a census-designated place (CDP) in Henrico County, Virginia, United States. It is a suburb of Richmond, Virginia. The population was 30,626 at the 2020 census.
The original village of Short Pump was located at the intersection of Three Chopt Road (formerly known as Three Notched Trail), Richmond Turnpike and Pouncey Tract Road. The area first centered around a local tavern that was expanded by Col. Robert H. Saunders beginning in 1814. According to local legend, it was named for the short handled pump that was located beneath the porch of the tavern, though there is some debate over the name’s origin. This area was on the principal route between Richmond and Charlottesville, as well as other towns in the Blue Ridge Mountains. Thomas Jefferson, the Earl Cornwallis, the Marquis de Lafayette, General Peter Muhlenberg, Stonewall Jackson and Ulric Dahlgren all visited this area.
The crossroads was officially named Short Pump by 1853, according to a Henrico County map found in the Virginia Historical Society.
It has now become part of Richmond’s Far West End. In 2003, developers opened Short Pump Town Center, an 1,200,000-square-foot (110,000 m) open air shopping mall. Other shopping and living spaces include West Broad Village.
Short Pump is noted for its shopping centers, restaurants, skating rink, and bowling alley. The area is an edge city of Richmond.
Short Pump began as a local tavern stop situated at a strategic crossroads in the early nineteenth century. Purchased around 1814 by Col. Saunders, the tavern profited from the local coal industry, westward movement in the state, and the extension of roads in the period after the Revolutionary War. Along with the food, drink, and lodgings that taverns typically provided for visitors, this tavern served as a post-office, voting precinct, and local market during its roughly 35 years in business. It also briefly housed a school for young white men and a resident doctor. While a gathering spot for white locals and travelers, the tavern relied on enslaved labor and hosted occasional slave auctions.
The tavern eventually declined in the latter half of the nineteenth century, but the name stuck to the area. By the early twentieth century, the tavern was all but gone, and other buildings and businesses rose up to take its place. As automobiles replaced horses as the primary means of transportation, filling stations and garages popped up in the area. At the same time, those living in Short Pump increasingly saw themselves as a suburb of Richmond and worked to better their community through the building of new structures—like the Short Pump High School.
By the 1990s and 2000s, Short Pump transformed from a rural crossroads to an edge-city, a concentration of development on the outskirts of traditional urban areas. The Short Pump Town Center, a mega-mall, proved key to this transformation.
According to the United States Census Bureau, the CDP has a total area of 9.1 square miles (23.5 km), of which 9.0 square miles (23.2 km) is land and 0.12 square miles (0.3 km), or 1.33%, is water. Short Pump is bordered to the west by Goochland County, to the north by the Wyndham CDP, to the east by the Innsbrook CDP, and to the south by non-CDP land and by Tuckahoe.
At the 2010 census, there were 24,729 people, 9,217 households and 6,483 families residing in the CDP. The population density was 76.7 per square mile (29.6/km). There were 77 housing units at an average density of 32.5/sq mi (12.5/km). The racial makeup of the CDP was 75.0% White, 5.70% African-American, 15.9% Asian, and 3.2% Hispanic or Latino.
There were 9,217 households, of which 31.9% had children under the age of 18 living with them, 60.3% were married couples living together, 10.1% had a female householder with no husband present, and 36.2% were non-families. 26.1% of all households were made up of individuals, and 8.7% had someone living alone who was 65 years of age or older. The average household size was 2.64 and the average family size was 3.30.
26.9% of the population were under the age of 18, 6.0% from 18 to 24, 33.5% from 25 to 44, 18.1% from 45 to 64, and 15.4% who were 65 years of age or older.
The median household income was $105,300 and the median family income was $117,995. The per capita income for the CDP was $46,047. 4.1% of the population lived below the poverty line.
The boundaries of the Short Pump CDP start on the west at the Goochland County/Henrico County line, then proceed east on Kain Road to Pouncey Tract Road (Virginia State Route 271); north on Pouncey Tract Road to Shady Grove Road; east, then north, on Shady Grove Road to Nuckols Road; southeast and south on Nuckols Road to Interstate 295; southwest on I-295 to Interstate 64; southeast on I-64 to Cox Road; southwest on Cox Road to Three Chopt Road where Cox Road becomes Church Road; southwest, then west, on Church Road to Lauderdale Drive; southwest on Lauderdale Drive to Causeway Drive; northwest on Causeway Drive to its crossing of Wilde Lake; southwest through the center of Wilde Lake to its outlet, Harding Branch; westward down Harding Branch to its outlet at Tuckahoe Creek, which is the Goochland/Henrico County line; then north on the county line back to Kain Road.
