Private Carrier Insurance

Get the best coverage for your private carrier insurance needs!

Best coverage options for your trucking business at an affordable price.

If you are a trucking company that transports commodities that belong to you, then you are a private carrier. As a private carrier, you need insurance to protect your trucks, employees, and cargo.

For over 30 years we've been providing the best private carrier insurance options at affordable prices to individual and fleet truckers across the country. We look forward to providing maximum protection to your business with cost-effective insurance solutions.

What is private carrier insurance?

Private carrier insurance is a type of commercial truck insurance that covers companies that use their own trucks to transport their own goods. Unlike for-hire carriers, private carriers do not transport goods for other businesses or individuals. If you own a trucking business that transports your own products and inventory, you are a private carrier and need a private carrier insurance policy.

Private Carrier Insurance Coverages

Liability Coverage: Liability coverage for private carriers protects you from financial loss if you cause an accident that results in bodily injury or property damage to a third party. This coverage is divided into two components:

• Bodily Injury: Covers medical expenses, lost wages, and legal fees if someone is injured in an accident you caused.
• Property Damage: Covers repair or replacement costs if you damage someone else's property in an accident.

Physical Damage Coverage: Physical damage coverage protects your truck against damage caused by an accident or other covered event. It includes two main components:

• Collision Coverage: Pays for damage to your truck caused by a collision with another vehicle or object.
• Comprehensive Coverage: Pays for damage to your truck caused by events other than a collision, such as fire, theft, vandalism, or natural disasters.

Medical Payment Coverage: Medical payment coverage pays for medical expenses for you and your passengers in the event of an accident, regardless of who is at fault. This coverage is especially important if you have employees who drive your trucks.

Benefits of Private Carrier Insurance

Smooth continuation of operations: The right private carrier insurance allows your business operations to continue smoothly even after an accident or incident. Without insurance, a single accident could result in significant financial strain and operational disruption.

Protects your reputation: Proper insurance coverage demonstrates to clients, partners, and employees that you take your responsibilities seriously. It helps maintain your business reputation and credibility.

Minimize financial strain: Insurance coverage helps absorb the financial impact of accidents, liability claims, and property damage, protecting your business's bottom line.

Recover from loss: In the event of a major accident or loss, insurance helps your business recover faster by covering repair or replacement costs for your trucks and equipment.

Entire truck coverage: Comprehensive private carrier insurance ensures that every aspect of your trucking operation is covered, from liability to physical damage to cargo protection.

FMCSA Insurance Filings for Private Carriers

If you are a private carrier that transports goods across state lines, you are required to file proof of insurance with the Federal Motor Carrier Safety Administration (FMCSA). The FMCSA requires private carriers to maintain minimum levels of liability insurance, depending on the type of goods they transport. NITIC can assist you with all necessary federal insurance filings to ensure your business remains compliant with FMCSA regulations.

Motor Carrier vs. Motor Private Carrier

Understanding the difference between a motor carrier and a motor private carrier is essential for getting the right insurance:

Motor Carriers (also known as common carriers or for-hire carriers) transport goods that belong to other businesses or individuals. They are required to maintain liability insurance and, in some cases, cargo insurance. Motor carriers that haul hazardous materials require special permits and additional insurance coverage.

Motor Private Carriers transport goods that belong to their own company or employer. They require specialized trucking insurance to protect against liability claims, property damage, and other risks associated with operating commercial trucks. Private carriers generally have different regulatory requirements than for-hire carriers.

Private Carrier Insurance FAQs

What is the difference between a private carrier and a for-hire carrier?
A private carrier transports goods that belong to their own company — they are not paid to transport goods for other businesses. A for-hire carrier (common carrier) is paid to transport goods owned by others and must comply with stricter federal regulations regarding insurance coverage.

Do private carriers need FMCSA insurance filings?
Yes, if you transport goods across state lines, you are required to file proof of insurance with the FMCSA. The minimum insurance requirements vary depending on the type of goods transported and the weight of your vehicles.

What does private carrier insurance cost?
The cost of private carrier insurance varies depending on the size of your fleet, types of trucks, operating radius, cargo type, and driving history of your drivers. Contact NITIC at 800-726-8376 for a customized quote.

Can private carriers haul hazardous materials?
Yes, but hauling hazardous materials requires special permits and additional insurance coverage. Motor carriers transporting hazardous materials must comply with FMCSA regulations regarding HazMat endorsements, placarding, and insurance requirements.