Commercial Truck Insurance in New Jersey
Searching for a commercial truck insurance quote in New Jersey? Located in New Jersey, NITIC has a full office of professional commercial insurance brokers that solely work with commercial and transportation insurance. The ever-changing needs of the federal government, freight brokers, and private freight carriers are well known to our crew. You receive the finest value at NITIC for the money you paid for your vehicle insurance.
Get the commercial insurance coverage you need for your truck in New Jersey
Driving a truck without insurance is like having no roof over your head. You need sufficient commercial truck insurance to keep your commercial trucks secure both on and off the road and to maintain continuous operation in New Jersey. You must first assess your company’s demands in order to obtain the best possible coverage package. Speak with one of our insurance specialists, and we’ll assist you in choosing the finest plan.
Why do you require Commercial Truck Insurance in New Jersey?
Commercial vehicle insurance offers a number of advantages. It not only safeguards your business but also maintains the integrity of your company’s brand. In New Jersey, having commercial truck insurance has a number of advantages, including the following:
- Covers the third-party costs (bodily injury and property damage).
- Covers all of your property damage and personal injuries.
- Defends against any legal action brought by accident victims
- Pay all medical costs.
- Covers any freight damage while transporting cargo.
What happens if I don't carry commercial truck insurance in New Jersey?
In New Jersey, it is mandatory for all commercial vehicles to carry auto liability insurance. Failing to have commercial liability insurance exposes your business to potential legal and financial hazards.
All to often, trucking accidents occur on our local New Jersey roads. Accidents could lead to costly lawsuits or settlements, requiring you to cover damages to the other vehicle, property, or person. Additionally, you may be responsible for expenses such as lost wages and medical costs.
Driving without commercial truck insurance in New Jersey not only poses the risk of penalties but may also result in higher premiums for new policies.
What do we offer?
You won’t look back after entrusting us with your commercial truck insurance requirements. Across the entire country, you’ll find commercial truck drivers that trust NITIC with their insurance coverage needs. We offer specialized coverage for all kinds of trucks and round-the-clock customer service to assist our customers in getting their claims settled as quickly as possible.
We don’t do pointless pitching. We guarantee that if you trust us with your needs, you will come to our door again for more services in the future.
Who needs commercial truck insurance?
If you operate a business in New Jersey and use trucks for business-related activities, it is essential to have commercial truck insurance in NJ. The following is a brief list encompassing individuals who require trucking insurance in NJ:
- Those transporting goods or people for compensation.
- Individuals conducting services using a vehicle.
- Those necessitating higher liability limits due to the nature of their work.
- Individuals hauling tools, equipment, or towing a trailer for business purposes.
- Those with employees operating vehicles for business-related activities.
Areas we cover in New Jersey
We provide coverage for all New Jersey cities, including the following when it comes to commercial truck insurance:
- Newark
- Jersey City
- Trenton
- Atlantic City
- Princeton
- Clifton
- Morristown
- Cape May
- Cherry Hill
- Montclair
- Bayonne
- Bloomfield
- and surrounding towns and cities.
Customers in these New Jersey cities can choose from a variety of discounts. Simply give us a call to obtain the best protection for your company.
Commercial Truck Insurance Coverage in New Jersey
The trucking industry is full of potential dangers. Risks can arise at any time, including theft, collisions, cargo loss, bodily injuries, etc. You need sufficient commercial truck insurance in New Jersey to safeguard your trucking business from such accidents. This coverage maintains your company’s activities unaffected while providing excellent financial assistance.
The following coverages are required if you use a commercial truck to move merchandise in New Jersey.
Get in contact with us to learn more about any of the aforementioned coverages, and we’ll let you know how much it will cost to have it tailored to your company.
How Much Does Commercial Truck Insurance Cost in New Jersey?
While each driver’s situation is unique, the average commercial truck insurance premium in New Jersey is around $14,000 – $15,000 per year. In New Jersey, we see a range of premiums from $12,000 to $16,000 per year.
To find out how much you can expect to pay for your commercial truck insurance in New Jersey, contact our team today for a quick and easy quote.
Read more on New Jersey commercial truck insurance costs here!
Example New Jersey Commercial Truck Insurance Cost Estimate
The below scenario assumes a clean driving record. Your personal driving history will affect your New Jersey insurance cost and premium. See below for a more thorough list of factors that can influence your truck insurance premium.
|
Limit of Liability
|
$300,000
|
$500,000
|
$750,000
|
$1,000,000
|
|---|---|---|---|---|
|
Tractor Trailer
|
|
|
$12,200
|
$14,800
|
|
Dump Truck
|
|
|
$12,200
|
$14,800
|
|
Box Truck
|
|
|
$12,200
|
$13,800
|
What factors influence my truck insurance premium cost?
Several factors can influence your commercial truck insurance premium, impacting the cost of coverage. Understanding these factors can help you manage your insurance costs effectively:
Driving Record: Your driving history, including accidents, traffic violations, and claims history, can significantly impact your insurance premium. A clean driving record demonstrates lower risk and may result in lower premiums.
Vehicle Details: The type, age, and value of your commercial trucks will affect your insurance premium. Newer vehicles with advanced safety features may qualify for discounts, while older vehicles may incur higher premiums.
Cargo and Operations: The type of cargo you transport and the routes you operate can impact your insurance premium. Hauling hazardous materials or operating in high-risk areas may result in higher premiums due to increased exposure to potential losses.
Coverage Limits: The amount of coverage you choose for liability, cargo, and physical damage will affect your premium. Higher coverage limits typically result in higher premiums but provide greater protection against financial losses.
Deductibles: The deductible amount you select for your insurance policy will impact your premium. A higher deductible means you’ll pay more out of pocket in the event of a claim but may result in lower premiums.
Driver Experience: The experience and age of the drivers covered under your policy can influence your premium. Experienced drivers with clean records may qualify for lower rates, while younger or less experienced drivers may incur higher premiums.
Safety Measures: Implementing safety measures such as driver training programs, vehicle tracking systems, and safety technologies can help lower your insurance premium by reducing the likelihood of accidents and claims.
Bobtail and Non-Trucking Liability Insurance in New Jersey
Bobtail Insurance
Bobtail insurance is a specialized form of coverage tailored for owner-operators who drive their commercial trucks without a trailer, often referred to as “bobtailing.” This insurance provides protection during the times when you’re off-duty or not hauling a load for your motor carrier. It becomes particularly relevant when you’re driving the truck for personal use or for purposes unrelated to your contracted carrier. The essence of bobtail insurance lies in filling the gaps left by primary liability coverage. While your motor carrier’s insurance typically covers you when you’re on duty, bobtail insurance steps in to protect you during off-duty hours or when the truck is not in active service for your carrier. It serves as a safety net, ensuring that you have coverage even during those non-operational periods, offering peace of mind for owner-operators.
Non-Trucking Liability Insurance
Non-Trucking Liability insurance is another crucial element in the insurance portfolio for owner-operators. This coverage addresses situations when you’re using your commercial truck for non-business, personal purposes. It kicks in when you’re off the clock and not engaged in any work-related activities for your motor carrier.
In essence, non-trucking liability insurance provides protection during your personal use of the truck, covering bodily injury and property damage liabilities. It’s designed to bridge the gap between the coverage provided by your motor carrier and your personal insurance when you’re not actively working. Whether you’re running personal errands or simply enjoying time off, non-trucking liability ensures that you have the necessary protection in place.
Understanding the nuances of both bobtail insurance and non-trucking liability is essential for owner-operators, as it ensures comprehensive coverage for various aspects of their trucking journey. These specialized insurance options contribute to a well-rounded risk management strategy, providing financial protection and peace of mind, both on and off the road.
What types of trucks do we provide coverage in New Jersey?
When it comes to the sorts of trucks to insure for your company, we in New Jersey have the requisite experience. The many truck types for which we offer coverage are listed below:
- Box trucks
- Dump trucks
- Hotshots
- Tow trucks
- Semi-trucks
- Private Carrier
- Owner Operator
New Jersey Truck Insurance Filings
Securing authority to operate as a carrier is a significant milestone, but ensuring compliance with necessary insurance filings is equally critical. The National Independent Truckers Insurance Company (NITIC) stands as a valuable partner to assist you with essential insurance filings once you’ve been granted authority.
At NITIC, we go beyond insurance coverage by offering a comprehensive suite of services to support your success as a carrier. Trust us to navigate the complexities of insurance filings, allowing you to focus on what you do best—moving your business forward. Contact NITIC today for personalized assistance with ICC, MCS90, Form E, and Form H filings after obtaining authority.
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