Dump Truck Insurance

Whether you’re an independent dump truck owner or a company with an entire fleet used for hauling materials across state lines, a company is an investment that you want to protect. Just as you get car insurance for your personal vehicle, insurance for your home, and insurance for your business, you will want to look into insurance for your dump truck and any other construction equipment you own. Read ahead to learn what exactly Dump Truck Insurance is, and the details you should be aware of.

What Is Dump Truck Insurance?

Dump Truck Insurance is specialty insurance that does exactly what it sounds like: covers dump trucks and companies that use dump trucks for their daily business. Dump trucks are highly specialized vehicles that are classified as heavy-duty commercial vehicles due to their design and size. They are also usually designated for construction or off-road sites, and are more susceptible to back-up accidents and overturns than other commercial trucks due to the type of work they are used for.

Because of this, dump trucks require highly specific insurance that will protect owners and operators from these added risks. The specifics of a dump truck can raise interesting challenges for insuring businesses that use these vehicles daily.

Most states require that companies that use dump trucks register these trucks with the state and maintain a level of liability coverage for their equipment. The level of liability will vary state-to-state. To register your truck, you will be required to file a Form E certifying that your or your company’s liability insurance complies with your state’s liability and financial responsibility laws.

If you do business across state lines, you will be required to file a BMC-91X, or a federal liability filing. To complete your federal liability filing, you will need to register your truck with the Federal Motor Carrier Safety Administration, obtain a Motor Carrier Number, then have your insurance company file your policy with the FMCSA. The Federal Motor Carrier Safety Administration requires minimum primary liability coverage of $750,000 for nearly all dump truck operators.

Number of Axles Average Cost
Single Axle Dump Truck $3300
Tandem Axle Dump Truck $4500
Triple Axle Dump Truck $6750

What Does Commercial Dump Truck Insurance Cover?

Dump Truck Insurance policies vary greatly and will depend on your exact needs. That said, these policies usually include most of these types of coverage:

  • Primary Liability, which covers damages to property and injuries to people when you are at-fault in an accident. Most dump truck operators carry a minimum of $1,000,000 in primary liability insurance for their dump trucks, but depending on the size of your company or quarry, you may be required to carry more
  • Physical Damage, which covers the truck and trailer in the event of an accident, theft, fire, flood, vandalism, or an overturn
  • Personal Injury Protection, which covers medical payments and other expenses for drivers and passengers who are damaged during an accident, regardless of who is at fault in the accident
  • Off-Season Comprehensive Insurance, which covers your vehicle while stored during off-season
  • Motor Truck Cargo Insurance, which covers the cargo you haul
  • Loan or Lease Gap, which will cover any depreciation gaps on financed equipment. Due to the type of work they are used in, dump trucks often depreciate faster than other vehicles. This gap insurance will assure that if your dump truck is declared a total loss, you will not be left to cover the remainder of your loan or lease
  • Rental Reimbursement, which covers the cost of a rental truck in the case of your dump truck, is put out of commission by an accident. With Rental Reimbursement coverage, you’re free to ret a replacement truck and trailer to continue working, because your insurance company will reimburse you for most of the rental cost
  • Downtime Coverage, which will protect you against income loss due to downtime from a covered loss. Downtime Coverage can help you keep up on your truck payment and other bills when your vehicle is rendered inoperable. Usually, policies that include Downtime Coverage will cap out at $100 per day, for up to 35 days

There are also Non-Trucking Insurance policies, which cover you if you are involved in an accident while driving during non-work hours. This is designed for independent owner/operators driving trucks for contract jobs.

Depending on the size of your company, the number of vehicles, the amount of coverage, and the distance that your company covers, you will likely pay between $4,000 and $14,000 per year per truck for insurance. The cost per year can also vary depending on the type of product you haul, the credit history of you or your business, the driving records of you or your drivers, and the length of time you have been in business.

How Can Businesses Get Quotes For Dump Truck Insurance?

No matter the type of insurance you shop for, it’s good to shop around. Using the Fontana Trucking Insurance website, you can compare prices and get quotes from multiple insurance companies and decide what plan is best for you. It is also good to call around to companies that offer Dump Truck Insurance and speak to insurance specialists in person.

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