Commercial Truck Insurance California
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California continues to stay economically one of the most booming states in the USA and there you can find a huge need for transportation services. The state has a large population and hereby the traffic system is a rather tough one. Residing truck business owners will assure that their businesses will not survive without truck insurance, as accidents are more common in California than in any other state. People may face up to 200000 car accidents per year. Every new truck business owner should be ready for that. Besides, you will get fined without insurance. So, if you want to have a safe trucking business in California, your need your trucks to get insured and be away from additional penalties. We suggest you rely that part on us, as we are specialized in this industry and our 23+ years of experience gives us the privilege to offer you reliable and required solutions. Have a look at the best coverages that we offer to our customers living in California.
California Commercial Truck Insurance Requirements
California imposes stringent insurance requirements and laws on operators and drivers of commercial trucks.
Depending on the type of freight being transported, California has different insurance requirements for commercial trucks. Depending on the cargo, any commercial truck driver who travels entirely within the state of California in a vehicle weighing more than 10,000 gross vehicle weight (GVW) is required to carry an intrastate identification number in addition to liability insurance.
In order to operate in the state, you must have liability insurance that is between $300,000 and $5 million in value, according to the most recent information on the DMV website.
You must have this coverage before submitting an application for a permit, and you must have your Certificate of Insurance on hand. You can also self-insure, but to do so you must run a fleet of no more than 25 vehicles and fulfill a number of financial requirements.
You need the following liability insurance if your truck has a total gross vehicle weight of 10,000 pounds or more and you solely operate in the state of California:
- $300.000 for transporting domestic products
- $750.000 for transporting General Freight
- $5 million for transporting Hazmat
- $ 1 million for transporting Oil
You will be required more extensive insurance if you intend to transport items over state boundaries. Depending on your particular scenario, an insurance broker can assist you in choosing the sort of insurance coverage that will best suit your needs.
What Are the Penalties for Not Having Insurance?
Each state has its strict regulations regarding driving. Driving without insurance, no matter what vehicle it is is prohibited in California under California Vehicle Code Section 16029 and penalties are inevitable. For the first time, the driver will be fined $100 no more than $200, plus the penalty assessments. For the upcoming convictions within three years, the fine will be up to $500 and not less than $200, plus the penalties. Moreover, if the court finds a need for it, they will impound the truck and require the driver to pay the fees. Those numbers, combined with the penalty assessments may cost up to 1000 dollars.
This can start when the police officer asks you for evidence of financial responsibility. This is the proof of liability insurance and as mentioned above, it is an important document to have. If you cannot show proof, you will receive a ticket to pay a fine on the next day or appear in court. Having commercial truck insurance will protect you from these kinds of anxieties and keep you out of stressful situations. You had better consider our truck insurance options to avoid penalties from the court.
How Much Does Trucking Insurance Cost in California?
In California, commercial truck insurance cost typically ranges between $12,000–17,000.
These price estimations are calculated on truckers that operate one truck and require liability, cargo, and physical damage insurance. A few elements that will significantly affect your overall insurance costs are:
Drivers with many years of experience in the trucking industry will enjoy lower prices in their insurance coverage. As you are an expert in driving, you will make fewer mistakes, causing accidents or violations. In this way, drivers’ experience impacts the insurance cost. Paying attention to this factor, having experienced drivers in your trucking company will reduce the cost of trucking insurance.
Radius of the Haul
The common argument is between long vs short-haul trucks and which one is better to choose for the trucking business. The pros and cons occur here, however, the length of the haul impacts the truck insurance cost. In comparison to long-haul trucks, short-haul trucks are designed for short distances of less than 150 miles. These trucks are considered less profitable, however, they have less impact on truck insurance costs and are considered the best choice for many business owners.
The class of the cargo or freight is measured by some factors like liability, density, handling, and capacity to stow. Based on these features, the cargo gets its class starting from 50 up to 500. There are 18 classes and if your cargo has Class 50, you will pay the lowest cost for insurance. It means that the truck is easy to ship.
The accidents or violations that happened during the drivers’ experience, will have an impact on insurance costs. The more accidents the driver has, the more expensive the costs will be. The risk of more accidents is high in this situation, which is why insurance costs are higher.
The Truck Type
The truck type and condition on this occasion also play their role. The heavier and more powerful the truck is, the more money it will cost to insure. The same happens regarding the new trucks. The reason is that new trucks are more expensive to repair or replace than older trucks.
You have no influence over how long you have been in operation, but you do have power over the insurance provider you pick. Contact us to receive your personalized quote online or call us if you need a more detailed explanation of the different costs related to insurance.
California Truck Insurance with Royalty Truck Insurance
You’ll need a solid foundation for an insurance strategy that protects your firm’s interests, including coverage for truck accidents and policies that cover larger liability issues. Our truck insurance coverage covers your liability for property damage and injuries caused by incidents involving your company’s owned and operated trucks. Furthermore, our general liability products cover damages resulting from services or products provided by your firm, as well as activities on corporate grounds and other risks.
Options for Workers’ Compensation, Real Estate, and Bonds
Commercial vehicles are not all the same, and their applications vary greatly across industries. Moving companies, passenger vehicle services, freight transporters, industrial organizations, and other industries all have specific insurance requirements to protect their trucks, commodities, property, and other assets. As a result, we offer hazardous materials and pollution liability insurance. In addition, we provide the following asset protection essentials:
- General liability policy for businesses
- Property insurance for businesses
- Bonds made to order and performance bonds
- Policy coverage for dump trucks
- Coverage for workers’ compensation and workplace accidents and injuries
- Roadside support on a commercial basis
If your workers’ compensation insurance has a gap, we have options that can help you limit potential losses, stay compliant with applicable regulations, and provide you piece of mind.
Safeguarding Your Valuable Cargo
You’re putting yourself at risk for financial losses if you move freight for clients. The most typical sorts of claims are lost or damaged freight, which you must replace or reimburse your customers for. Because our firm’s fiduciary status and reputation are dependent on your capacity to make things right, incorporating our motor freight truck products into your overall insurance strategy is a wise decision. Our professionals can assist you in determining the appropriate coverage levels and alternatives to fit your company’s requirements. Your risk management approach should be fine-tuned to provide you with the highest level of protection while also assisting in the long-term development of your company. We offer exceptional insurance packages for your organization, ranging from general liability and accident coverage to customized solutions.
Physical Damage Insurance
Physical damage insurance is not required by the law, unlike liability insurance. Although, it doesn’t mean that it is less important even in California where the traffic is rather complicated. Steinberg Injury Lawyers claims that there are nearly 113 fatal truck crashes per year and 3000 truck accidents result in injuries. These numbers are high and you should pay serious attention to physical damage insurance. We aim to make sure that you and your trucks are protected. Physical damage insurance consists of two parts. Those are:
- Collision - This includes the truck damages, caused by colliding with other vehicles or objects,
- Comprehensive - This includes coverage for truck vandalism, fire, and theft.
Insure You Trucking Business With Royalty Truck Insurance
Our insurance is suitable not only for standard truck owners or trucking business owners. We also target people and business owners that own different types of trucks such as tow trucks, semi trucks, dump trucks, and so on. We care about your trucking business’s safety and want to help your business grow in California, without breaking a law. Having these goals set, we would like you to count on us for unique, powerful custom-tailored solutions to safeguard your business from losses caused by accidents, injuries, property damage, lost cargo, regulatory challenges, and other dangers.