Hotshot Truck Insurance

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Hotshot Coverages at a Reasonably Low Price!

Hotshot truck insurance is designed for trucking companies specializing in rapid freight transfer. As one of the nation's leading commercial truck insurance companies with hundreds of 5-star Google reviews and an A+ rating with the BBB, the NITIC team leverages decades of experience to provide competitive insurance quotes to our clients across the country.

Many truckers in the hotshot trucking business prefer to haul hotshot freight and accelerated loads. The incentive is better rates and higher income per mile, even if it may be challenging to get loads, and those that do get booked typically demand the truck driver to work hard to make the deadline.

Who Needs Hotshot Trucking Insurance?

People who use pickup trucks to transport less-than-loads within a short window, typically to individual clients, need hotshot insurance. It makes no difference if they also have a large vehicle that they employ for interstate or intrastate transportation. Hotshot trucking is an entirely separate category which is why it can typically require a customized hotshot truck insurance plan.

Three different truck types are employed in hotshot trucking:

• Category 3 - 10,001–14,000 pounds
• Category 4 - 14,001–16,000 pounds
• Category 5 - 16,001–19,500 pounds

Hotshot Truck Insurance Coverages You Need

Hotshot truckers require the following coverages for a well-designed hotshot truck insurance policy:

Comprehensive: This safeguards your hotshot truck against physical loss from fire, theft, and vandalism.

Collision: Collision liability in hotshot business insurance shields your equipment against damage in the case of a rollover or collision with stationary objects or other moving vehicles. Ramps, tarps, and binders are covered under your insurance to safeguard your priceless equipment from vandalism, theft, fire, accident, and other harm.

Combined Deductibles: Hotshot pickup truck insurance policy enables hotshot truckers to pay just one deductible in the case that a loss involves both cargo loss and damage to the vehicle and trailer. Commodities are covered while being loaded or emptied during loading and unloading.

Debris Removal: Debris removal covers reasonable and necessary charges to remove debris after an occurrence resulting in the Hotshot truck's wreckage.

Understanding MCS-90 and BMC-91 Requirements

Two key components of hotshot truck insurance are the MCS-90 and BMC-91 forms.

MCS-90 Requirements: The Motor Carrier Act of 1980 introduced the MCS-90 endorsement, required by the FMCSA for motor carriers engaged in interstate commerce. It serves as proof of liability insurance coverage for bodily injury, property damage, and environmental restoration. It provides broad protection for members of the public who may be injured or incur property damage as a result of the carrier's operations.

BMC-91 Requirements: The BMC-91 form is required for motor carriers engaged in interstate transportation of property or passengers. It serves as proof of cargo insurance coverage, providing coverage for loss or damage to cargo while in transit, including theft, damage from accidents, and other covered perils.

MCS-90 vs BMC-91: The MCS-90 endorsement focuses on liability coverage (bodily injury, property damage, environmental restoration), while the BMC-91 form pertains specifically to cargo insurance coverage for loss or damage to transported goods.

CDL vs Non-CDL Hot Shot Insurance

CDL Hot Shot Insurance: CDL drivers often require higher liability insurance limits to comply with federal and state regulations. CDL drivers must comply with FMCSA regulations, including maintaining adequate insurance coverage and filing proof of insurance (Form MCS-90). They may need additional cargo insurance to cover the goods they transport, especially if hauling valuable or high-risk cargo.

Non-CDL Hot Shot Insurance: For hot shot truckers operating without a CDL, insurance requirements may differ based on the type of vehicle and the scope of operations. Non-CDL drivers may have lower liability insurance limits compared to CDL drivers, as their vehicles are typically smaller and carry lighter loads. However, state-specific requirements vary and may include minimum insurance coverage limits.

Why Choose NITIC for Your Hotshot Insurance Needs?

The National Independent Truckers Insurance Company, RRG (NITIC) is a well-known multi-line commercial truck insurer. Because NITIC is one of the largest and most well-known insurance companies in the United States, with an AM Best Rating (B+) and a Financial Rating of B++, it is aware of the hazards that carriers face in the modern insurance market. The professional expertise and attention to the customer's needs that have always defined NITIC's strategy for insurance solutions serve as the cornerstone of the company's services to assist customers in effectively managing their cost of risk.

Hotshot Insurance FAQs

What is hot shot trucking insurance?
Hot shot trucking insurance is a specialized type of commercial truck insurance designed for owner-operators and small businesses that transport expedited loads using medium-duty trucks and trailers. It typically includes liability coverage, physical damage protection, cargo insurance, and other essential coverages to protect against accidents, damages, and financial loss.

Who needs hot shot trucking insurance?
Anyone operating a non-CDL or CDL hot shot trucking business needs insurance, including: independent owner-operators; for-hire carriers transporting expedited loads; small business trucking companies using pickup trucks with gooseneck or flatbed trailers; drivers hauling freight under a contract.

What does hot shot insurance cover?
A hot shot insurance policy can include: Primary Liability Insurance; Physical Damage Coverage; Motor Truck Cargo Insurance; Non-Trucking Liability (Bobtail Insurance); and General Liability Insurance.

How much does hot shot trucking insurance cost?
On average, hot shot insurance costs between $7,000 and $15,000 per year, but rates vary depending on your risk profile, driving experience and history, type of truck and trailer, coverage limits and deductibles, operating radius, and types of cargo transported.

Do I need a CDL for hot shot trucking insurance?
Not always. If your truck and trailer have a combined GVWR of 26,000 pounds or less, you may not need a Commercial Driver's License (CDL). However, insurance requirements will still apply based on state and federal regulations.

Why choose NITIC for hot shot trucking insurance?
Over 30 years of experience in trucking insurance; hundreds of 5-star Google reviews and an A+ rating with the BBB; competitive rates and fast claims processing; coverage available in 48 states.