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Truck Insurance

If you’re like me, you dread the day each year that your car insurance expires. Even for good drivers with no accidents it’s almost impossible to find great coverage at really competitive rates.

In the world of commercial truck insurance, the difficulties are compounded immensely—not only are you dealing with a much higher price tag and greater specialization, but you’re paying to protect your livelihood, not just your car!

There are tons of truck insurance options available to drivers and fleets and which ones you choose will depend on your employment situation—contractors require different policies than motor carriers, different types of cargo require different coverage, etc.

This article is designed to help you simplify the process while ensuring you’re getting great coverage. We’ll let you know the policies you need, don’t need and help you cut through some of the confusing specialized terms agents may attempt to over-sell you.

Truck Insurance you Need by Law

If you’re an independent truck driver, the only type of insurance you truly need is primary liability to protect against injury and property damage your truck may cause as a result of an accident.

Coverage levels vary between about ,000 and ,000,000, depending on what type of truck you drive and what state you are licensed in—a fuel tanker or hazardous materials hauler, for example, will have higher dollar amount requirements than a semi truck hauling normal commercial goods.

Policies Every Driver Should Consider

Comprehensive coverage, also a form of truck insurance that protects your actual truck, will pay you out even if accidents are your fault, or if your truck is damaged due to theft, vandalism or other external forces.

A Note to the Independent Owner/Operator

If you’re an independent trucker who always operates under contract to other motor carriers, chances are the only policies you need to effectively protect your business and other motorists are comprehensive coverage and bobtail insurance. Bobtail insurance is a less-expensive form of primary liability that covers your truck during the times you are not under contract.

Bobtail insurance can save you some money because it doesn’t charge you for times you’re protected under your motor carrier’s commercial truck insurance policy.

A Note about Specialization and Motor Carriers

The truck insurance industry can get really confusing because it is so specialized, but it doesn’t have to be. While dump truck insurance differs from tow truck insurance that differs from big truck insurance, these names all really refer to primary liability coverages geared toward the application of those specific vehicles—they aren’t separate policies you need to worry about.

Just knowing they exist can be helpful in making sure you aren’t overpaying for coverage amounts based on the capacity you operate your truck.

If you have several trucks operating under your authority or are an actual motor carrier, you will need additional forms of insurance by state law and commercial demand. These include, but aren’t limited to, workers compensation policies, cargo insurance, trailer insurance and primary liability for your business.

Frequently Asked Questions

  1. QUESTION:
    If you file a truck insurance claim and stop paying the premiums, is the claim still valid?
    I filed a commercial insurance claim on my truck that was stolen. The claim is still being processed after 6 weeks. I paid the policy until the end of month and stop paying it. Is the claim still valid, if I stop paying the premiums for it? They offered me a settlement about 2 weeks ago and I did not accept it. They will not return my phone calls and let me know what is going on with the claim. Don't know what to do next?

    • ANSWER:
      I would keep paying. Why ?

      1. Because the truck may be recovered.

      2. The thief may be involved in an accident with YOUR truck.

      3. If it is not recovered, any premiums paid or any credit left on the policy at the time (actually one day after the theft) of the theft will be returned to you.
      4. I would accept their offer. It won't likely get any better by refusing it.

  2. QUESTION:
    What type of license do i need to sell commercial truck insurance?
    Hi. I want to start selling truck insurance for trucks only. What do i need to do first? How much money do i need to start with?.. I live in NJ.

    • ANSWER:
      property & casualty license i think. for commercial purposes. however there could be a personal lines insruance license. not sure. I sold insurance to banks.

      check the link
      www.state.nj.us/dobi/inslic.htm

      I believe its AAIA or something

  3. QUESTION:
    Truck Insurance!?!?!?
    I was told that you can get insurance for vehicles that only last a few days or a week or whatever you want? Is this true at all? And are there any websites that will tell me how much it will approx. cost?

    Thankyou!

    • ANSWER:
      Not true.

      Each state sets the minimum time limit for a policy. Most insurance companies don't want to bother writing a policy for shorter than six months.

      So, if you want to get a six month policy - assuming your state allows it - get your quote, and then cancel the policy after however long you want.

      But keep in mind, they're ALL going to want two months down. AND, if you cancel the policy, most states you'll be charged both a short rate penalty (about a month's premium) AND a cancellation fee (varies from to 0 depending on state). And of course, if your state requires car insurance, as soon as your policy cancels, the DMV gets notified (well, within a couple weeks) and your plates get cancelled.

  4. QUESTION:
    How much is Straight Truck Insurance?
    Well i am planning to start a small moving company and i was trying to figure out how much Insurance will be for the truck itself.

    • ANSWER:
      Depends. You will need full coverage if the truck is not paid for entirely. You also need to cover any and all employees driving the truck and you also need to have coverage for the customers personal property you are moving.

      Based on your driving record and age, you will pay between 0 - 5 per month plus an up front fee to be insured right a way.

  5. QUESTION:
    Is it worth it to buy the extra insurance for a UHaul rental truck?
    That is, even though my car insurance covers rentals, I have a 500 dollar deductible. Does getting the rental truck insurance make it so there is no deductible in case of an accident?

    • ANSWER:
      I know of 4 insurance companies that do not cover U-haul. American Family, Geico, Liberty Mutual, Allstate. You need to check with your agent first. Make sure you tell them if you are going out of state. I had a customer who was told she was covered, then stopped in after she got the truck and told them she was going out of state, and they said she was not covered. I had another customer who did not take the insurance, and was backing into the drive of his destination, and hit a large rock damaging the truck, it cost him almost 0. Even if someone hit you, you are responsible for the truck. But on the other hand, it is an option. I have heard of several dealer who add the insurance without the customers approval. So I am glad to see you asking questions. I had an insurance agent rent from me, and when I asked him about the insurance he said yes so fast it shocked me. He stated that if something did happen it would not ding his auto insurance.

      U-hauls SafeMove insurance covers damage to the truck, the cargo in the truck, and also has medical/life coverage. The SuperSafeMove also includes million in liability coverage.

      I wish you luck in your move and safe driving.

  6. QUESTION:
    Which insurance covers a motorcycle falling out of the back of a truck?
    My ninja 250 fell out of the back of my truck while I was driving. Will my truck insurance cover this??

    • ANSWER:
      No.

      You will need to file under your motorcycle insurance policy.

      If the motorcycle did not have physical damage coverage when it fell out of your truck, then you will have to pay for the damage to the bike out of pocket.

  7. QUESTION:
    how much does a semi truck insurance cost?
    Hi
    I'm thinking to have a truck. I want to know about the costs.
    Please, help me.
    I want to know about cost of a semi truck like insurance and ...
    How much does a truck driver pay for insurance.
    Thank you

    • ANSWER:
      No one can answer your question without knowing a lot more information.

      Semi truck insurance varies greatly depending on age (truck and driver), driving record, make, model, what you will be hauling, where you will be hauling, weight, and several other factors.

      You need to talk to an insurance company that specializes in semi insurance. I recommend OOIDA (Owner Operator Independent Drivers Association). They can answer all of your questions, but no one can give you a quote without knowing specifics about the truck, and your business operations.

      I can tell you that insurance will cost you at least ,700.00 (approximately) a year and UP, depending on all of the other factors involved.

      To learn more about truck insurance and starting a trucking business, see the blog "How to Become an Owner Operator and Make Money in Trucking".

  8. QUESTION:
    In New York State do you have to have vehicle insurance while driving a rented truck?
    OK ill explain this as simple as possible. I rented a truck from a truck rental place and opted out of the insurance. I have vehicle insurance and so does anyone else who was going to be driving the truck. One of my friends was driving the truck and caused damage to the truck. He was not on the rental contract to be driving the truck. He does have his own vehicle insurance. My question is will his insurance company cover the damages? I was under the impression that in NYS, no matter whether or not you should be driving the rental truck your insurance will cover you. Thanks ahead of time.

    • ANSWER:
      No, it won't.

      There are several different ways a policy can be written, and not all policies will carry over onto a rental. And for physical damage to carry over, you must have physical damage on YOUR car, and YOUR car must be off the road - ie, in the shop, and NOT available for use. It would only carry over, if you are the NAMED insured (not a listed driver), and it only carries over to a substitute vehicle that YOU rent.

      HOWEVER. When it DOES carry over, it only carries over to PRIVATE PASSENGER type vehicles. Not trucks. So even if he had coverage, AND his vehicle was off the road due to not running, AND the policy was in his name, AND the policy form allowed carryover for substitute vehicles, it wouldn't carry over to a TRUCK.

      Sorry. His insurance won't cover. Neither will yours, as this is a TRUCK.

  9. QUESTION:
    Truck! Insurances, Can you buy it then after that get an insurance?
    My husband really dying to buy one of the truck. We don't have insuarance YET. When we buy the truck and Drive the truck home without Insurance and no drive plate.

    Is that SAFE? I am so parioard about it. I wonder if anyone does that. I am not do it.

    • ANSWER:
      you know the truck what you want to buy get quotes before buying and most insures will let you print a temp insurance certificate online this will be for about 24-48 hr period untill your proper certificate arrives

  10. QUESTION:
    I wanted to know how to get started up with my own tractor trailer I have the truck no insurance?
    I have a class a cdl with y own tractor trailor but no insurance and no stickers how would I go abgetting my truck rolling this is my first tractor.

    • ANSWER:
      Which stickers are you talking about (Ca, dot, fuel, registration, base plate?). I would contact the O/O companies you might go to work for and talk to them, about the stickers, how/when/how much they pay(RUNAWAY from a company that offers you a "percentage of the load"- those are the cheapskates in the industry) I would seriously evaluate the industry and how much you make as an O/O, verses a "company driver".The companies usually have newer equipment and take care of the maintenance & issues every 90 days(unless there is an out of service write up) I have known several O/O's who went out of business when the fuel shot up to 3.00+ a gallon, even with the fuel perdium.(fuel costs come out of your pocket before you ever see it on your check).
      I forgot to ask how long you had been in the industry, hopefully 3-5 or more years (just to have a good understanding of the industry). The best piece of advice (from the O/O's I have talked to) is to BE SURE you have a book keeper who KNOWS the trucking industry (what can and cannot be a write off). Good luck to you and your company driver !

  11. QUESTION:
    where is good for recovery truck insurance?
    hi can anyone help me .been searching for recovery truck insurance .but not having much luck .anyone send me a link or tell me a site that i can try please many thanks

    • ANSWER:

  12. QUESTION:
    Who provides the best commercial truck insurance?
    I own or am about to own a 24 foot box truck with a lift gate that i plan to deliver freight, office furniture, pharmaceuticals, skids of paper, etc for and am looking to find any suggestions for the best company

    • ANSWER:
      You're not going to have a whole bunch of companies willing to write a retail delivery truck that size. Rather than trying to find a company, you're best off trying to find a local agent, and letting THEM try to find a couple companies.

      Coverage for the truck is going to depend on the gvw, which permits you need, how far you drive, how old the drivers are, etc.

  13. QUESTION:
    Truck Insurance CHeaper then car insurance for a male?
    is truck insurance cheaper then car insurance for males, and why?

    • ANSWER:
      Depends on who insures the vehicle. In most cases, no. A truck will potentially cause more damage when in an accident than a car would.

  14. QUESTION:
    what should i do when the truck insurance doesnt pay for my truck after an accident?
    my truck had an accident but the insurance claim that truck doent have insurance but we pay for that

    • ANSWER:
      Obviously, there's a big communication gap going on here.

      The insurance company says your truck is NOT insured. You say it is. Easy to check - just pull out a copy of your policy, and see if the truck is listed on it.

  15. QUESTION:
    Would insurance on a small pickup truck be more than a small compact car?
    I am thinking about getting a small pickup truck (Toyota Tacoma, Chevy S-10 type truck). Would the insurance on it be higher than a Small car like a Honda Civic or Hundi Access? I am 18 years old so my rates are already high and have a clean record and I live in New York.

    • ANSWER:
      Almost always...

      Trucks have a significantly higher theft rate......

      Also, trucks tend to be in a higher percentage of accidents...probably because truck drivers as a group are more aggressive than small car buyers.

  16. QUESTION:
    How much does it cost for tow truck insurance?
    I live in lake havasu city AZ and I am just a normal guy trying to open a bussiness of my own. but I don tknow much about it.

    • ANSWER:
      Call some insurance agents in your state. Ask for a commercial auto policy for a tow truck. Call some of the big companies, like State Farm, Farmers, Auto Club, ect and get some quotes.

      Good Luck.

  17. QUESTION:
    Who provides the best commercial straight truck insurance for Independent Contractors?
    Looking to get the best rate possible and would like recommendations and suggestions on getting the best rate

    • ANSWER:
      Not enough information. Are you long haul trucking? Bobtail? Deadhead?? Which state are you in? How far do you go?

      Not all companies write in all states. Depending on the type of "independent contracting" you do (trucking? Or are you an electrician?), some companies may or may not be willing to write you.

      Bottom line -you have to buy commercial insurance, through an agent or company licensed to do business in your state. Even Progressive won't sell a commercial policy on line. So go to your local agent for quotes.

  18. QUESTION:
    Do subwoofers in a truck increase insurance rates?
    I was thinking about putting to 12 inch subs in my truck and i was wondering if that would increase my insurance rates

    • ANSWER:

  19. QUESTION:
    Does anyone know how expensive commercial truck insurance is?

    • ANSWER:
      it is expensive as you are driving a commercial vehicle and the liability limits on these coverages are at the lowest, 0,000 and up. The rate is based on where you run (local or long distance), your record, where you are located & run. It is hard to give a price, however, I'd say you can look at over ,000.00 a year or more.

  20. QUESTION:
    Tree damaged truck. How do I keep truck and collect insurance?
    A tree fell on my truck. The damage consists of a cracked windshield and a few dents/scratches on the top of the truck, hood, etc. This vehicle is my commuter, and I only plan on keeping it for another year, although it is quite reliable. If I make an insurance claim they will likely total the vehicle.
    Is it possible to get a claim (even if it totals the vehicle), take the cash, and keep the totaled vehicle?
    Company said "Act of God, file a claim w/ your own insurance."
    Truck is a 1993 Chevrolet S-10 with 160k miles on it. It still runs great and gets 27mpg (not bad for a V-6, much less being 14 years old). So, although the paint is wearing a little thin, what some may see as a "creampuff" makes for a very reliable daily driver.

    • ANSWER:
      should be able to.....and even if they total it and have it hauled to the salvage yard.....they might sell it back to you .

  21. QUESTION:
    How legal is it to repo a truck for not having insurance when I actually DID have insurance?
    My truck was repo'd for not having insurance on it but I actually had insurance and when they discovered this they still made me pay HALF the original repo fee. Is this legal? If not what can I do to report them so that others will be aware of how they treat customers before they do business with them.

    • ANSWER:
      Call the police and report your car stolen.

      End of story.

  22. QUESTION:
    Can I take insurance off of a truck that we are trying to sell?
    We are trying to sell and truck and it is not being driven anywhere. Do we have to keep the insurance on the truck for test drives etc?

    • ANSWER:
      It is a very bad idea to remove the insurance on this vehicle right now. Do not remove the insurance until AFTER the truck is sold.

      Consider this scenario. You have removed the insurance from this truck. Someone is interested in this truck and wants to take it for a test ride. This person crashes the truck into another vehicle. It is the person driving your truck who is at fault. There are injuries. It is your truck so you are responsible for all damages and injuries. Out of your own pocket you would have to pay for all medical expenses for anyone who was injured. This can get very expensive very fast. You would have to pay out of your own pocket to repair or replace the other vehicle. Let's say the other vehicle was a new Cadillac Escolade. This could get very expensive very fast. Your truck was totaled in the accident. Now you no longer have a truck to sell.

      This is why you keep your insurance until after it is sold. Do not remove the insurance until after you sign the title and a bill of sale for the new owner. Make 2 copies of the bill of sale and both you and the new owner sign them. Keep a copy of the signed bill of sale for at least a couple of years.

  23. QUESTION:
    I accidental hit my cousins truck against a something and made a dent in the back will his insurance cover it?
    I was driving my cousins truck and accidentally hit it against a huge garbage can and made a dent on the back of the truck will his insurance cover or repair the damage if they have full coverage?

    If not how much would I have to pay out of my own money to repair it?

    • ANSWER:
      As long as you had permission to use the vehicle and your cousin has collision coverage, the insurance will pay for the damage less his insurance deductible.

  24. QUESTION:
    How long will it take my insurance company to fix my truck?
    I got in an accident today, it was the other persons fault, how long will it take the insurance to fix my truck, it is still drivable, 2000 dodge dakota, the whole rear side is smashed in.

    • ANSWER:
      insurance companys dont fix anything. call your agent to report the accident. usually an adjuster will come and asses the damage and give you a check less the deductible, and repairing the vehicle will be you problem. some companys have agreements with body shops but can not make you take your car there. different company's have different policies so call your agent.

  25. QUESTION:
    how do you become a licensed truck/auto insurance agent fot the state of california?
    i'm interested in becoming an insurance agent/broker for commercial vehicles. How do i get started?

    • ANSWER:
      You go to the California Department of Insurance website, and look for Producer Licensing. That will explain what you have to do to get the license.

      THEN you have to find an insurance company willing to let you sell their insurance. Good luck. They don't appoint "green" agents with no experience. The best way to get experience is to get hired as a CSR at an agency.

  26. QUESTION:
    My truck got totaled, now the insurance wants to give me crap for payout. Can I negotiate?
    I had a 2000 Sierra that was probably the nicest truck in town. I have pictures of how it looked, videos of how it ran, and plenty of people to testify it was a nice ride. The insurance wants to give us crap for payout saying that the truck was average to poor condition. Even after stripping off most of my aftermarket stuff, I still have a few thousand $$ still on the truck. I know they don't cover aftermarket stuff, but if I can't take it off, I should be compensated for it. Can I negotiate with them or do I have to take what they offer me? I've already told them that I don't like what they offered me since my truck wasn't the junk car they are paying me for. Can they turn around and just tell me they won't pay anything since I didn't take the first offer?
    The reason I can't take the rest of the stuff off is because they said I had to replace it with stock stuff which I don't have.
    I understand that the truck depreciated but the appraisal on the truck was ,000 to ,000 from several different sources(including the bank and the local insurance agent). Yet they offered me 00 and still wanted to keep my stuff.
    I'm not saying my truck was in good condition due to my parts and stuff. The truck ran perfect, and had no paint flaws or dents. The motor was new, trans was new, rear end was new, suspension was new. Nothing fancy. Just an older truck with brand new running gear and a nice factory interior. I've checked the market for this type of vehicle, and the value is around 00.

    • ANSWER:
      Of course you can negotiate. Of course they can then withdraw any offer they have made if you can't agree and you are then back to square one.

      They only have an obligation to make you whole by giving you the market value of the vehicle, adjusted for condition. A lot of times after market things added do not increase the value of a vehicle. Any time you attach something to the vehicle, it becomes part of it and therefore the property of the insurance company in the case of a total loss. Sometimes they will give you permission to remove your upgraded stereo for example, and your after market rims, but only if you put the factory things back in the place of what you removed. If you didn't keep those things, it's hardly the fault of the insurance company. If you have new tires, too bad, that is considered routine maintenance and not an upgrade.

      But yes, again, you can refuse the offer. And they may offer more, or force you to put things into arbitration by withdrawing their offer.

      Assuming this was not an at fault accident being covered under your collision, your best source of help will be your agent.

  27. QUESTION:
    If I trade my truck before my insurance claim is settled will I still get a check for damages?
    I was rearended at a stop light by a lady who was driving her brothers car and she had a suspended driving license and felony warrants on hers she is in jail, and their insurance is still trying to get ahold of the owner to see if she had permission to drive the car, but I'm wanting to trade my truck and want to know if I will still receive a check a check for the estimate of damages done to my truck if I trade before this is settled?

    • ANSWER:
      Your best source for the correct answer is your insurance agent - anything else is just a guess

  28. QUESTION:
    Question about unique commercial truck insurance?
    I am a trucker who sometimes "brokers" loads onto a 3rd party truck. This creates a contingent liability exposure for me. Where can I purchase liability for this brokered load exposure? Are there any attorney's our there that know about the "Schramm Decision"?

    • ANSWER:
      Since you don't own the trucks, I would recommend having a hold harmless agreement with the owner operator thus transferring the liability to them. If the owner operator balks you could tell them to have the Excess Coverage for Named Insured endorsement added to their policy which should cover the contractual liability assumed by the owner operator.

      I would also recommend you require your hired drivers to have Bobtail Coverage. This will give them "non-trucking" liability and another layer of protection for you.

      Depending on the form your Trucker's Policy is written on you may have liability coverage already (I would read the Who is an Insured defintions in your policy closely to make this determination). You can add the owner operator onto your policy as an additional insured for the duration of the agreement.

      There are several ways to approach this issue. It depends on your policy form and what you are trying to accomplish.

      I am unfamiliar with the Schramm Decision.

  29. QUESTION:
    Small Business: Is there any reason to keep Old Truck Insurance Documents? Legally?
    Every year we renew our truck insurance and we get another 3 pounds of paperwork. I have many years of back truck insurance documents and it is just taking up SO MUCH SPACE that I'm wondering if I could get rid of it.

    Would it be legally OK to scan in the back years to the computer then dispose of them, only keeping 2 years worth of documents actually on hand?

    • ANSWER:
      You do not need to keep all three pounds. You just need to keep enough to prove that you had insurance, how much it cost you, and what your coverages were.

  30. QUESTION:
    Will homeowners cover a tree falling on my truck if i only had plpd insurance?
    We just had a bad storm and a tree fell on my truck. We only have plpd insurance, will my homeowners cover my truck to be repaired?

    • ANSWER:
      No ! Homeowners will not cover it but your truck insurance may if you have comprehensive coverage on it. for the future know that if a car (or anything else) that can be insured on it's own, then that insurance must be used for such a claim. So that means if you have no comprehensive coverage on your truck, you have no insurance for the tree damage and it doesn't matter who's tree it was either. No comp.= no coverage

  31. QUESTION:
    If I hit a pole with my truck and I go to insurance to get it fixed how much will it go up per year?
    I have a clean record, no accidents, no tickets, nothing that would make my insurance go up. I took drivers ed, would anyone have an idea how much it would go up, the damage to the truck is ,500 and I do have full coverage on it.

    • ANSWER:
      No one here can answer that for sure. Contact your agent.

  32. QUESTION:
    Insurance has written off our truck and did not offer us the actual value, can I bargain with them?
    Insurance gave us the option to scrap it and they pay 14100 (but 10k is still on a lien) and out of that we lose 1000 for the deductible so technically we get 13100. Or we can buy it for 1400 and they pay the lien and we get 1700 back. Either way same amt. However I have discovered a comparable truck is worth16k plus tax, I understand I lose a 1000 for the deductible. Can I bargain with them?

    • ANSWER:
      Find trucks in same condition/age/
      print them off ready to send..
      Never accept first offer,these people are blaggers...argue your side,don't get overheated..after their 3/4th offer if you not got what you want say you will be taking it to court..usually you will get a call from a higher up person and you should get what u want..these companies make a living off soft people who have the attitude of best make do with offer...
      Remember their valuer works for the company..
      If it goes on too long ask for compensation too..state this in court proceeds...
      Esure in uk tried pulling a fast 1 with me.
      Took em to cleaners,cos it was quite obvious what the condition and value of my car was.

  33. QUESTION:
    How do I stop my insurance company from totaling my truck? What are my rights?
    My insurance company is trying to use after market parts on my truck instead of new genuine factory Toyota parts. Can I be forced to accept used after market parts, being told that this request may cause my truck to be totaled.

    • ANSWER:
      The choice is left to the company and it is stated in the policy. They will pay based on available used or aftermarket parts. If you want brand new OEM parts you can pay the difference but the standard policy won't pay for it. Let's say your truck is 5 yrs old then the policy owes you for 5 yr old parts.

      Just to be clear there is a big difference between used and aftermarket. Some folks use the words incorrectly.

      Used=a recycled OEM part off a salvage vehicle. This part is manufactured by the car company.

      Aftermarket=a new part that is not made by the vehicles manufacturer. Some of these parts suck, some are good.

      I have used both aftermarket and used parts on my own and my kid's vehicles. I prefer used OEM parts but have good luck with aftermarket parts, especially bumper covers.

      You should make sure it is clear whether your company plans to use used OEM or new aftermarket parts. The body shop will make sure that any used OEM parts are in good condition before they put them on your truck.

  34. QUESTION:
    who offers the best travel insurance for truck drivers?
    I am going to be crossing between canada and the us a lot this year and I'm looking for insurance to cover any medical expenses that may occur in this time. Both my wife and I are young and very healthy.

    • ANSWER:
      First off are you American or Canadian? Second check to see if your credit card offers some sort of travel medical insurance.

  35. QUESTION:
    Selling my truck and getting money from insurance?
    I recently got into an auto accident in which it was the other drivers fault. Her insurance company agreed to pay a body shop to fix my truck. The problem is I found a buyer who wants my truck as is. Can I get the insurance company to write the check to me and spend it any way i want? Is it possible the could offer me a lower settlement in personal payment?

    • ANSWER:
      There is no requirement that you use the insurance money to repair the vehicle. There is no fraud involved if you do not repair the vehicle.

      The fact is the insurance is paying you the value of your loss. If you want to keep the cash, and sell the truck as is, that is your right. If someone was to break into your house and steal your television, insurance would pay you for the value of the TV. You could then buy the same TV, spend more and get a better one, or keep the money for something else. You are paid for your loss.

      It is the same thing with an auto claim. You are paid for the damage that was done. You can have the car repaired, pay more and have it repainted or modified, or not repair it at all.

      If you have financed the vehicle, the lien holder (bank) may want their collateral repaired, but seeing as you are selling the truck (and paying off any loan) you have the right to the cash.

      Contact the insurance company and tell them to write the check to you.

  36. QUESTION:
    How much does auto insurance cost for small dump truck in ga?
    I am writing a business plan to start a residential preservation company for foreclosed and private properties and I need to know about how much it will cost me per year to have insurance on a small dump truck.

    • ANSWER:
      Call a local insurance agent and ask him.

      You could try online web sites of insurance companies, however, I doubt they will quote you a business rate of a commercial vehicle like a dump truck online.

      So call an agent and ask.

  37. QUESTION:
    Would you buy a new car or truck and not put collision insurance on it?
    Im getting a new truck and I do not want collision insurance on it because it costs me 140$ per month.

    • ANSWER:
      That wouldn't be too smart and if it's financed it wouldn't work as the bank or loan company always requires that you maintain full coverage insurance. When it's financed you have to provide proof of collision insurance before they'll conclude the sale. If you try to drop the collision coverage it's grounds for the finance company to repossess the car. If you can't afford the insurance perhaps you should consider a different vehicle.

  38. QUESTION:
    My truck was broken into, and my insurance just dropped me 3 days prior. What can I do ?
    They stole my in dash dvd player, and broke my ignition trying to steal my truck, 3 days prior to the incident my insurance dropped me. How do I get unscrewed in this situation?

    • ANSWER:
      the items that are not permanently fixed to your vehicle are covered by your homeowners policy. You need to get a police report 1st then when they catch the guy, you can sue him/her.

  39. QUESTION:
    Can I sue the bank's insurance for damages to my truck?
    My truck was stolen and used to haul away a bank's ATM. My truck did not have insurance and was found two days after the robbery. It was found deep in a wooded area stuck in the mud with damages and with the ATM still in the bed of the truck with no money. I had to pay over 0 with towing, impound, and winch fee to get it out of the mud.

    • ANSWER:
      NO.

      The bank did not do anything wrong.

      The bank was not negligent and their negligence did not cause the damage to your truck.

      If the thief is caught - you can sue the thief.

      When you decide not to carry insurance on your vehicle you become "self insured". That means you pay out of pocket for any damage to your vehicle. You made the conscious decision to be personally responsible for the damage to your vehicle. So....now you have to be personally responsible for the damage to your vehicle and pay out of pocket.

  40. QUESTION:
    We just hired a driver, not adding to our 18 wheeler truck's insurance yet, and he got into an accident?
    would our commercial truck insurance cover him? If not, could anyone provide any wisdoms on this issue?

    • ANSWER:
      Most policies have an uninsured driver clause. You have to read your policy. Because he was under your hire when the accident occured, the company is responsible - with or without insurance. If insurance does not cover it, then you will have to pay for your mistake (letting him drive uninsured) - probably a lot of $$ out of pocket.

  41. QUESTION:
    can my insurance pay for my truck to be painted?
    Last night when leaving a bar a fight broke out. Out of anger for someone else a rock was thrown at my truck damaging the top frame and breaking the window. My insurance is paying for the damages and the guy is being charged. However, living in a small town I fear something else will happen to my truck if the guy see me again. Is there anyway my truck and be painted a different color and either billed to him or my insurance?

    • ANSWER:
      No.

      Neither your insurance company or the person that threw the rock owe to paint your entire truck (the same color or another color).

      Besides, all he'd have to do is see you driving it after it was painted and he'd know which one it was. Small Town = easy to do. So that reason for getting a free paint job does not really hold water.

      If you want an entire paint job, you'll have to pay for it yourself.

  42. QUESTION:
    Wells Fargo bought insurance for my truck?
    Wells Fargo never received notification of insurance for my truck and ended up buying coverage for me (as there is an obligation to have full coverage). All I have to do is let them know about my current coverage and the policy they bought will be dropped. The insurance they bought for me, however, is cheaper than the insurance I have bought through the other insurance company. Can I just keep the insurance Wells Fargo bought for me? Is there a penalty for doing so?

    • ANSWER:
      The insurance the bank bought doesn't cover you at all. It covers the bank in that if there is a total loss, the bank is paid the balance then due. It doesn't cover you, or damage you do to others. Get insurance as the loan agreement you signed requires, and be thankful that put on the Vendors Single Interest insurance on and didn't repossess the vehicle instead.

  43. QUESTION:
    had a accident in my works truck, do i have to tell my car insurance people?
    i had a accident in my works truck last december! my car insurance people have somehow found out about it and have added it to my new policy? making it go up by £200, because it was in my works truck and not my fault, and not in my car, can i get them to remove it?

    • ANSWER:
      An accident is an accident. Without telling them they have still picked it up from the database and adjusted what you pay - any other insurer would be able to do this too.
      You are lucky, they could have called it fraud and declined to cover you and put you on the database as an attempted fraudster - they do do that.
      Better I think if you don't make a fuss - people in glass houses........

  44. QUESTION:
    I hit the side of my truck yesterday on a post. Will insurance increase if I pay my deductable?
    Yesterday I hit a post on the side of my truck. I have a 0. deductable will my insurance increase if I report it? Would it be best to pay the full amount to the repair shop? Please advise.

    • ANSWER:
      The accident would count as an At Fault Collision accident. Depending on your policy and if you have "accident forgiveness" or something comparable your rates may or may not be increased. I would speak with your Insurance agent first.

  45. QUESTION:
    I totaled my boyfriends truck, will my insurance cover the cost?
    So yesterday I totaled my boyfriend's truck. I lost control of it on the road after it rained and it hit a curb and rolled over into a ditch. I have insurance with Progressive and I don't have full coverage but I have everything except collision. He only has insurance through Farmers and only has liability. Also I must add that my insurance for my motorcycle because that's the vehicle I have. Will my insurance cover the cost for me totaling his truck? Please help a.s.a.p.

    • ANSWER:
      Ally,
      Different states have different clauses for these coverages. You may live in a comprehensive state or a commonwealth state or a no fault state. These things don't matter as you are asking a simple question, is an accident covered without collision coverage? What happened to you was you had a collision with his truck you did not steal it and if you are not on his policy then one of two questions arise, did you lease his vehicle from him to drive it? If yes then your company would cover IF you have collision coverage in YOUR own policy and if you did NOT lease it then HIS policy kicks in and the truck is not covered. In all situations in all three types of Car coverage states that could ever be questioned neither you nor your boyfriend have full coverage or collision insurance so the answer is NO his truck is not covered. Sorry to bear the bad news. Hope you get full coverage on your motorcycle quick..

  46. QUESTION:
    Shed door blew off in a storm and damaged my truck. Will insurance cover it?.?
    My shed door blew off and landed on my truck and was wondering if it is covered by my insurance.

    • ANSWER:
      If your truck has comprehensive coverage- yes (less your deductible).

      If you do not have comprehensive coverage on your auto policy - no.

      Your homeowners policy will NOT cover your truck. That's because damage to vehicles is specifically excluded.

      However, your homeowners insurance will pay for the damage to the shed - less any applicable deductible/deprecation.

  47. QUESTION:
    I received 12K from my insurance when my truck was crashed, is that taxable?
    If the truck was in my parents name and they gave me the money, is that taxable income?

    • ANSWER:
      If you did not own the truck, any gain from the destruction of the truck does not belong to you. If your parents gifted you money, it is not taxable to you.

      It is not true that insurance money is always tax-free. For example, if the truck was worth ,000 before the crash, and the insurance company paid ,000, then the owner of the truck has a taxable gain of ,000 which is reported on Schedule D.

  48. QUESTION:
    start small moving company in ny using my uhaul truck what insurance do i need?and permits?

    • ANSWER:
      First, you would need to check with U-Haul to see if you can use the truck for that use.

      Insurance you would need collision insurance to protect the truck, liability to protect yourself and cargo insurance.

      For permits you would have to contact local authorities

  49. QUESTION:
    A truck driver ran a stop sign and my car hit his trailer. Will his insurance cover my impound fees?
    The car is totaled and was impounded. I don't know if I should take the car out now or leave it in there. But either way I shouldn't have to pay a cent since it was legally his fault, right? I asked my insurance agent and they said I need to wait until the truck driver's insurance adjuster has examined the car. I'm just so anxious since the lot said they might put a lean against my house if I don't pay. Am I doing the right thing?.

    • ANSWER:
      You can pay the towing and impound fees out of your own pocket, and then pay to have the car towed to your house where it becomes a yard ornament that the city wouldn't want there, and the insurance company will drag their feet on settling with you. Or, you can leave it where it is, where it is getting a daily storage fee and there is some reason for the insurance to want to see it as quickly as possible, settle with you, pay the towing fees and get it out of there and to their own yard.

      Don't worry, we in the business aren't going to put a lien against your house, we know the at fault insurance will settle with us. Enjoy your Thanksgiving and don't worry about the car.

  50. QUESTION:
    coupe or truck insurance cost?
    i am planning on getting either a double cab tacoma or a nissan altima coupe, but i worried about the insurance cost. Which wouold be a better deal for the long run. I'm am fortunate that my parents are helping me pay for the car but i have to buy insurance. I'm a college student, 19, barley starting my credit score.

    • ANSWER:
      The only way to know is to get quotes for each vehicle. If I were you though I would get the Tacoma, much more reliable and they hold their value more than the Altima does. If you decide on a car maybe get a Civc or a Corolla instead.


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