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Interstate transportation companies are required to follow Federal and State governmental laws by carrying specific limits of coverage for bodily injury, property damage, and environmental restoration on their trucking insurance policy. Depending on the type of trucking business you have, the amount of public liability insurance required will vary.

The FMCSA requires trucks that are under 10,000 pounds GVW to carry at least $300,000 of public liability coverage. The most common amount is for trucks weighing more than 10,000 GVW with public liability coverage of $750,000. Hazardous materials being transported cause the liability coverage to increase to $1,000,000.

The company’s base state may also have specific insurance requirements that need to be followed, even if the company does not do interstate transports. It is a wise idea to contact an insurance agent that knows the laws in regards to trucking insurance coverage before you purchase a policy. Then you can ensure that you have the types and amounts of coverage that are required.

Besides the coverage required by the FMCSA, the company’s home state will also have regulations in regards to trucking insurance. It is smart to contact an insurance agent that has experience with the trucking insurance options and requirements.

A filing with the FMCSA will be made by the insurance provider, not agent, after the company has purchased an insurance policy. Within 20 days an insurance filing must be made for authority with the FMCSA on trucks that are being leased or owned.

Companies should be sure that they are meeting the requirements of the FMCSA, their home state, and the companies they are transporting for. This will help them to not get any fines or tickets or be at unnecessary financial risk.

Contact an insurance broker with any questions or concerns. Brokers have experience determining the type and amount of trucking insurance coverage that transportation companies need.