Table of Contents
- Essential Components of Commercial Truck Insurance in Florida
- Commercial Auto Liability (AL)
- Personal Injury Protection (PIP)
- Motor Truck Cargo (MTC)
- Workers’ Compensation Insurance
- How Much Does Commercial Truck Insurance Cost in Florida?
- What to Do After Purchasing a Commercial Truck Insurance Policy
- Windshield Replacement Coverage: The Florida Windshield Law
- Get a Free Commercial Truck Insurance Quote
If you’re looking for commercial truck insurance for your transportation company in Florida, you’ve come to the right place. This guide covers all the essential aspects of truck insurance, from legal requirements to key considerations, helping you make an informed decision to protect your business.
As a business owner in Florida, you understand the importance of being prepared for any situation—hurricanes, tornadoes, and road accidents can disrupt operations and impact revenue. Having the right coverage ensures business continuity, protects your assets, and safeguards your team, allowing your company to grow without interruptions.
Now, you might be wondering: What do I need to insure my trucking company in Florida? Which aspects of commercial truck insurance are essential or legally required? Fortunately, we’ve broken down all the critical information you need into clear sections, so by the time you finish reading, you’ll be ready to make an informed decision.
Essential Components of Commercial Truck Insurance in Florida
Both Florida state law and federal regulations require transportation companies to meet minimum insurance standards. These policies protect businesses from common risks and ensure compliance with the law. Below are the essential insurance policies you need to operate a trucking business without issues:
Commercial Auto Liability (AL)
This is a mandatory coverage for all commercial vehicles in Florida. It protects your company in case one of your trucks causes damage to third parties or their property. However, it does not cover damage to your own vehicle, including windshield repairs.
The minimum liability coverage required for intrastate (within Florida) operations depends on the type of cargo:
- Household goods: $300,000
- General freight: $750,000
- Oil transport: $1,000,000
- Passenger transport (1-15 passengers): $1,500,000
- Passenger transport (16+ passengers): $5,000,000
- Hazardous materials: $5,000,000
If you operate interstate (across state lines), you must have at least $750,000 in liability coverage.
Personal Injury Protection (PIP)
This optional add-on to your Commercial Auto Insurance is also known as “no-fault insurance,” as it covers medical expenses for the driver regardless of who caused the accident.
In Florida, businesses that use commercial vehicles in their operations must have PIP coverage, with a minimum requirement of $10,000.
Motor Truck Cargo (MTC)
Also known as Cargo Insurance, MTC, or Inland Marine Insurance, this policy protects the cargo being transported from loss or damage due to fire, collision, or impact.
Given Florida’s warm climate, this coverage is crucial—especially for refrigerated cargo. A minor refrigeration or ventilation failure can ruin perishable goods in hours. With an MTC policy, you won’t have to bear the financial burden of damaged cargo.
Workers’ Compensation Insurance
This coverage provides cash benefits and medical care to employees injured or who become ill due to work-related activities. Employers fully cover this insurance, with no contributions required from employees.
This policy is essential to protect employees and comply with state laws. It also shields businesses from legal action if an employee is injured on the job and decides to file a lawsuit.
In Florida, businesses must have this insurance if they employ four or more workers (full-time or part-time). Without it, your trucking company cannot operate legally and may face significant legal and financial challenges.
How Much Does Commercial Truck Insurance Cost in Florida?
Companies with multiple employees generally pay higher insurance premiums due to increased risk exposure. Each additional employee increases the likelihood of an accident, which could lead to an insurance claim.
Insurance costs vary widely based on the type of vehicles in your fleet and their specific operations. This is why working with a trusted insurance agency like Protecto Solutions is essential. We provide honest advice on the policies that best fit your needs and budget.
What to Do After Purchasing a Commercial Truck Insurance Policy
- Even if a vehicle is out of service, do not cancel your policy unless you have surrendered the truck’s registration.
- Purchase insurance only from companies licensed to operate in Florida. (Protecto Solutions can help you find reliable, state-approved insurers.)
- If you relocate your operations to Florida, ask your insurance agent to transfer your policy to a Florida-licensed company.
Windshield Replacement Coverage: The Florida Windshield Law
Florida has a unique law that benefits commercial vehicle owners—the Florida Windshield Law. Given the high risk of windshield damage during daily operations, this law is a major advantage.
According to Florida Statute 627.7288, insurance companies must cover the full cost of windshield repairs or replacements without requiring a deductible. This law applies only to vehicles with comprehensive coverage (which protects against non-collision-related threats like natural disasters or theft).
However, this law only applies to insurance companies that are admitted (authorized to operate in Florida).
If you want to take advantage of this benefit, consider adding comprehensive coverage to your commercial truck insurance policy. While it may slightly increase your premium, the potential savings and convenience of windshield repairs often outweigh the cost.
Get a Free Commercial Truck Insurance Quote
Understanding Florida’s commercial truck insurance regulations is crucial for running a successful business. Now that you know the key requirements, don’t wait to secure your operations.
Our team at Protecto Solutions is here to help you navigate the insurance process, ensuring that your transportation business runs smoothly and cost-effectively.
Get a free quote today and protect your business with the right commercial truck insurance policy!