Small fleet truck insurance: what coverage a two to ten truck fleet actually needs

The coverage stack for a small fleet

Your state and your customers may also require workers compensation or occupational accident coverage for drivers. Bring that up when you quote so nothing gets missed at the dock.

Hauling for different customers changes your limits

When you haul for one broker you only have to satisfy one insurance requirement. When you haul for five, you have to satisfy the strictest one, because every load confirmation carries its own minimums.

• Match your cargo limit to the highest requirement in your contracts, not the average
• Expect requests to be named as additional insured on general liability
• Some contracts ask for primary and non-contributory wording, so read what you sign
• You will be asked for certificates of insurance constantly, so you need them fast

Certificates are available around the clock through our portal once you are bound, so a dispatcher asking for a COI at 6 in the morning does not cost you the load.

If your fleet runs flatbeds or open deck

Open deck is a securement business. The freight rides in the weather, in view, and held down by your chains and straps, so underwriters price it differently than a dry van fleet.

• Cargo limits need to cover steel, lumber, machinery and building materials at real replacement value
• Tarping is where driver injuries happen, so confirm how injury exposure is handled
• Oversize and permit loads need to be disclosed, not discovered at claim time
• Chains, straps, tarps and binders are equipment, and you should know whether they are covered

A three truck flatbed fleet hauling for several customers is a very quotable operation when the submission shows open deck experience. See our flatbed page for the underwriting detail.

What changes between one truck and three

Pricing moves to a per unit basis

Most of your premium is driven by power units, drivers and radius. Adding a third truck is not triple the paperwork, but it does mean your loss history starts to matter more than your story.

Driver standards get real

Carriers will look at years of experience, MVRs and age for every driver you hire. A hiring standard on paper helps your renewal more than most owners expect.

Units come on and off mid-term

You will add and drop trucks and trailers during the policy year. Know how your carrier handles mid-term additions and whether you get a pro rata credit when a unit goes off.

Loss runs become your resume

Three years of clean loss runs is the cheapest thing you own at renewal. Ask for them from your current carrier before you shop.

What we need to quote a small fleet

• USDOT number and current truck count
• Commodities hauled and the typical maximum load value
• Radius of operation or the states you run
• Tractor and trailer list with years, makes and current values
• Driver list with license numbers, dates of birth and years of experience
• Three years of loss runs

Small fleet insurance questions