Are you a Motor Carrier seeking an insurance estimate? The most effective approach to economize is by comparing quotes.
Complete our straightforward form and we will provide you with three representatives to vie for your insurance policy.
The procedure will streamline that manual. Prior to starting, it’s crucial to determine the coverages you require. The FMCSA requires the submission of appropriate insurance forms and the acquisition of commercial truck insurance by the applicant before the Federal Motor Carrier Safety Administration (FMCSA) will issue the motor carrier authority.
Public Liability
Insurance provides coverage for incidents in which you or your driver are at fault, leading to harm to someone else or their property. The only insurance mandated by the FMCSA is commercial auto liability insurance, unless you transport household belongings.
Specifically, this table provides an overview. The merchandise it transports determines the level of liability coverage required for a motor carrier.
| Type of Operation | Minimum Limits |
| For-Hire Interstate General Freight Carrier | $750,000 |
| For-Hire & Private Carriers of Oil | $1,000,000 |
| For Hire & Private Carriers of Other Hazardous Materials | $5,000,000 |
These limits, as concluded by a recent study conducted by the FMCSA, are excessively low. Anticipate a rise in these minimums in the coming years.
Cargo Insurance
Moving companies and other motor carriers that transport household goods must obtain cargo insurance with a minimum coverage of $5,000 and $10,000 per incident and per vehicle.
If, of course, you don’t want to transport household goods, there are a few brokers and shippers who do business with a motor carrier that doesn’t have cargo insurance. Nonetheless, if you do want to get cargo insurance, there are a few brokers and shippers who do business with a motor carrier that doesn’t have insurance.
Physical Damage, General Liability, Etc.
Motor carrier authority does not require physical damage insurance and general liability insurance, but it is highly likely that they will be required.
For further details, the comprehensive details of motor carrier insurance prerequisites are outlined on the website of the FMCSA.
How to File Your Insurance with the FMCSA
The FMCSA requires all documents provided by the insurance company. In order to prevent fraudulent activities, it is not necessary for you to complete these documents. The FMCSA requires several insurance forms, such as the BMC-91, the BOC-3, and the MCS-90, before granting you a new MC number.
In the following step, you will need to move there in order to be able to complete the process. You will be required to file the necessary forms and provide your company’s insurance contact details. It is important to file your application with FMCSA first. Although it is your responsibility to submit the forms and provide the necessary information to obtain your company’s insurance.
Where to Get Insurance
To ensure your business is fully protected, you can obtain the most competitive price by comparing multiple commercial insurance companies simultaneously. Our tool will connect you with three agents who will compete to secure insurance for your new business. If you have any additional questions, the agents can provide tailored advice based on your specific business needs.