Get an online quote for trucking insurance in Oregon Wisconsin. Covering auto liability truck insurance for small to big sizes. The law in Wisconsin makes it mandatory for truck drivers to acquire a liability insurance policy. The amount of freight you carry, what the size of the truck is, and whether the truck travels across state lines or within a certain state decides the amount that needs to be paid.
The minimum requirements for some intrastate drivers are:
- For general freight- $750,000
- For oil transport- $1,000,000
- For hazmat cargo-$5,000,000
- For household goods- $3,000,000
Interstate truck drivers need to adhere to Wisconsin laws and the DOT truck insurance requirements as stipulated by the FMCSA.
Types of Truck Insurance Coverage in Wisconsin
- Primary Liability: Made mandatory by the state and federal agencies, coverage of this type protects you from any damage or injuries that may be caused to other people if your truck meets with an accident.
- Comprehensive Physical Damage and Collision Coverage: This type of insurance covers your truck and the trailer. This coverage compensates for any damage or replacement that your truck may need arising from any collision, act of mischief, flood, hail, theft, fire, earthquake, windstorm, or any act of vandalism.
- Motor Truck Cargo Coverage: This type of coverage is a protection for the transporter for his liability when any damage is caused to the freight he’s transporting or if there’s any loss to it. This kind of a policy is acquired on the basis of maximum load limit per vehicle.
- General Liability: This coverage comes to your protection in case there’s any injury or damage to property caused within your premises while using any product or service used offered by you, or if there’s any breach of contract. There are many lines of coverage on offer like artisans’ contract, electrical work, plumbing, contractual liability, and contractors’ liability.
- Non-Trucking Liability/Bobtail Coverage: If you are an owner-operator permanently under lease with an ICC regulated carrier, this sort of coverage provides limited liability protection when you aren’t on dispatch or when you aren’t pulling a trailer with a load.
Why You Should Engage an Independent Insurance Agent
There are many insurance requirements that you need to meet as per Wisconsin laws. Therefore, it’s wise to engage an independent insurance agent. An independent insurance agent has the knowledge to help you locate an insurance program that suits your specific needs and fits within your budget. Such an agent will guide you on staying prepared for any emergency and staying compliant.
If you have an insurance agent customizing an insurance program suited to your needs, you save time and money since instead of hunting for a better insurance deal, you can focus on raising profits. Being experts in the trucking industry, we at Minnesota Tow Truck Insurance help you access multiple truck insurance programs catered to meet the specific needs you have including-
- Dry van
- Dump Trucks
Why You Need Wisconsin Trucking Insurance
Not only is insuring your trucks and drivers a legal requirement, you are also protected financially, if God forbid, something unfortunate occurs. Do keep in mind the following figures:
- $91,000 is the average cost incurred for all large truck crashes
- $200,000 is the average cost incurred for crashes with injuries and this figure only rises if the accident is particularly severe
- $1,000,000 is the average potential cost you might need to bear if the crash causes any fatalities
Insurance coverage protects you from such humongous costs that you shall need to bear in case of anything untoward occurring. Insuring with us at Minnesota Tow Truck Insurance therefore protects you from financial ruin.
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Types of Insurance Covered
- Tow truck insurance
- Auto liability
- Bobtail insurance
- Cargo insurance
- Dump truck insurance
- Dry van insurance
- Trailer interchange insurance