Looking for insurance for hotshot trucking? Get up to 3 quotes and save!

Whether you are starting a new hot shot operation or shopping your renewal, we make it easy for hot shot truckers to find the best deal by bringing up to 3 truck insurance agents to compete for your business.

Comparing quotes from different hot shot trucking insurance companies could save you thousands. Our service is fast, free, and effective. Shopping for truck insurance doesn’t have to be tough – we make it simple!

How Much Does Hot Shot Truck Insurance Cost?

The average price for hotshot insurance is $11,284 per year. The average Hotshot Insurance monthly cost is $940 per month. Insurance policies for hotshot truckers usually range from $9,000 – $14,000 per year.

This is based on 1-truck and trailer and being new in the business. There are many factors that drive the premium, so the amount that you pay will be different. It pays to shop around since quotes can vary from one another by thousands!

The cost of hot shot trucking insurance depends on several factors including:

• The value of your truck and trailer
• Your CDL experience
• What you are hauling
• Your deductible and limits
• Which coverages you need
• It also depends on your insurance agent and which companies they are appointed with.

The best thing you can do to find the cheapest hot shot trucking insurance is to speak to multiple agents and then choose the one who offers the coverage you need to protect your livelihood at the best price.

What is Hot Shot Trucking Insurance?

Hot shot insurance, sometimes referred to as expediter’s insurance, covers the unique risks when pickup trucks and smaller trucks (Class 3, 4, and 5) are used to haul expedited loads instead of Class 8 semi trucks. A policy will cover your truck, trailer, and cargo.

Hot shot haulers mostly use heavy-duty pickup trucks, or a dually. Popular models include:

• Chevy Silverado 3500
• Super Duty Fords
• Ram
• GMC one-ton pickup trucks

These trucks aren’t cheap and take a beating, so proper physical damage insurance coverage is a must. A big component of what you pay for pickup truck insurance is

What Kind of Hot Shot Hauling Insurance Coverages do You Need?

The main coverages you need are Liability Insurance, Physical Damage Insurance for your truck and trailer, and of course Cargo Insurance to cover the loads you will haul.

You’ll also want to consider Truckers General Liability and other specialized endorsements based on your operation.

Read on for more info about these commercial truck insurance coverages.

Hotshot Truck Insurance Requirements

At a minimum, you need to meet federal and state liability limits. Unforeseen perils are everywhere, so you’ll need the proper specialty trucking insurance to cover you and to show the load brokers and shippers that you can meet their hotshot insurance requirements.

Insurance Coverage Requirements

• Liability Insurance: The FMCSA requires $750,000 in liability coverage to cover others’ bodily injury, physical damage and property damage insurance  after an accident.
  • Some load brokers and shippers require $1,000,000.
• Cargo Insurance: A minimum of $5,000 in cargo insurance is required, but that is an outdated limit. Shippers will want to see at least $100,000.
• Physical Damage Coverage: Covers your truck and trailer.
  • Not required if your equipment is paid off, but a must for financial protection.
  • Consider a higher deductible to reduce your premium.
• Collision Insurance and Comprehensive Insurance:
  • Collision Insurance: Covers damages from accidents involving other vehicles or objects.
  • Comprehensive Insurance: Covers non-collision damages such as theft, fire, or natural disasters.
• Additional Coverages to consider:
  • General liability medical insurance payments.
  • Pollution coverage – covers environmental restoration from hazardous spills.
  • Debris removal.
  • Hot shot car hauler insurance for those hauling vehicles.

Other Requirements

• DOT# and MC#: Needed if you cross state lines or depending on your truck’s GVW. Here’s how to apply for a USDOT.
• Other Requirements:
  • IRP (International Registration Plan) registration for your truck.
  • PTI (Permanent Trailer Identification) for your trailer.
  • Make sure MCS-150 and BOC-3 filings are up-to-date, if required.

CDL vs Non CDL Hotshot Insurance Requirements

Hotshot trucking requirements differ based on whether or not you have a CDL. CDL drivers face stricter regulations, including FMCSA compliance, specific logbooks, and weight limits.

Non-CDL hotshot drivers have fewer restrictions, but are limited in the weight and types of loads they can haul. This impacts both insurance needs and operating costs, so understanding them and weighing them is an important business consideration.

• Commercial Driver’s License: Required for hot shot loads above 10,000 pounds.
• Non CDL hotshot insurance: Available for those with a non CDL setup hauling smaller loads. Non cdl hotshot insurance costs are still comparable in price to cdl hotshot policies.

The Best Hotshot Truck Truck Insurance Companies

The best insurance company for hotshot trucking is the one that:

• Properly covers you at the best price.
• Allows you to haul the loads that match your business plan.
• Offers cheap hot shot insurance and special endorsements if needed.

The top hot shot insurance companies by market share are:

• Progressive
• GEICO
• Berkshire
• National Indemnity

Did you know that there are over 10 more companies that write policies for hotshots?

Getting quotes from different companies remains the best way to find the most affordable hot shot insurance policy.

We can help with that! We’ve done the legwork and can help get you quotes from a broad spectrum of hot shot insurance carriers.

Top 3 Hot Shot Cargo Insurance Considerations

1. Coverage Amount: Most choice jobs will require at least $100,000 in coverage. Make sure your cargo limit matches your hot shot freight.
2. Flexibility: Find insurance that can be temporarily changed to match the loads you haul. You want the ability to quickly get the right cargo endorsements and limits for high-paying loads. Some companies now offer load insurance on a load by load basis.
3. Multiple LTL Loads: If you are hauling multiple less-than-load (LTL) loads with multiple Bills of Lading (BOL):
   • Each load should be insured for up to $100,000.
   • Make sure your policy is designed to handle this, with flexibility to bump up coverage on a trip-by-trip basis.

Bottom line: Find an insurance agency that understands hot shot trucking and has a flexible hot shot insurance program before you buy hotshot insurance.

Hotshot Trailer Insurance Coverage

Always make sure your trailer is accurately valued on your policy. These are expensive and are commonly damage. You’ll want to make sure your insurance will quickly make you whole if anything happens to your trailer.

Hot shot truckers use various trailers to increase their hauling flexibility and expand their number of potential clients. The trailers need to be properly insured too because of their high replacement cost. Common hotshot trailer types:

• 20 to 40-foot gooseneck trailers
• Deckover trailers
• Lowboy trailers (allow for significantly larger commercial hot shot freight)
• Car trailers and wedge trailers

Checklist to Review your Hotshot Insurance Quote

• Make sure your quote accurately reflects your proper radius of operation and what you will be hauling.
  • This protects you from having your claim denied if the insurance company argues that you were never covered for your particular operation.
• Double-check the deductibles and limits to ensure you are covering your potential business liabilities.
• Discounts are available for those who qualify, such as having strong cash reserves or using certain safety equipment. Make sure to ask for discounts.
• Load accuracy – your premium can vary significantly based on the type of cargo hauled and its associated risks. Each commodity is therefore underwritten and priced differently by insurance companies. Are you loads accurately described in your policy?

The goal: Find the best complete coverage at a great rate.

The solution: Use our service to bring you different quotes from different insurance providers before you purchase hotshot insurance. This way you can make a true comparison.

Insurance for a Startup Hot Shot Business

If you have a pickup truck and can manage tight delivery time windows, hot shot trucking can be lucrative. Hot shot truckers can make over $200k per year! The more you control your expenses, the more you take home.

• Most hot shot deliveries are local, but some are nationwide. Staying close to home is usually desirable.
• Common cargo includes heavy equipment, construction materials, machinery, and hot shot car hauling.
• Hotshotting in oilfields (Texas, Oklahoma) is also popular when oil prices and demand are high.

Commercial hot shot insurance is one of the foundations of your business. It protects you from catastrophic loss and gets you in the game on the load boards. Cheap hot shot insurance options are available, but make sure you don’t sacrifice coverage that could impact your business’s survival.

• One way to save money: Pay the premium in full instead of monthly payments.
  • Paying in full could save you 10-20%.
  • Example: Drop a $7,000/year policy to $5,600/year by paying in a lump sum.
• Tip for Startups: Consider paying monthly until you are sure of your cash flow. With determination and hustle, you can succeed—but there is nothing wrong with hedging your bets.

We can help you keep one of your biggest expenses in check: hotshot insurance. We can help you compare different options to find the cheapest hot shot insurance that fits your needs.

Get 3 Quotes for Your Hot Shot Insurance – FAST!

Hot shot truck drivers play a vital role in hauling less-than-truckload (LTL) freight and freight that needs to be expedited.

With hot shot insurance costs ranging from $9,000-$14,000, it pays to shop around. Not every truck insurance company welcomes hot shots, making it tough to find the right ones.

Thankfully, we’ve done the hard work and have agencies licensed in your state ready to compete for your hot shot policy. Start online or give us a call!

Don’t hunt down 3 agents. Let them come to you!