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Coverages

MIG provides commercial trucking insurance that get and keeps your company moving

In order to get your trucking company on the road, the FMCSA mandates that you must have trucking insurance coverage. The required policies are Commercial Auto Liability and Motor Truck Cargo. Other policies, although not required, are just as important, and can help save you in the long run in case of a claim. Put yourself ahead of the competition by understanding these policies and what they mean for you and your company.

Types of Insurance Policies

Commercial Auto Liability

Primary Auto Liability covers injuries to other drivers and vehicles. It also covers accidents that cause damage to public property. State and federal agencies require a minimum of $750,000 combined single limit. Most brokers require you to carry at least $1,000,000 in coverage, so we recommend higher limits. In addition, Hazmat or specialized operations may require higher limits.

Motor Truck Cargo

Motor Truck Cargo protects the transporter from their responsibility in the event of damaged or lost freight. We tailor this coverage to meet the specific needs of your operation or typically hauled commodities. Furthermore, most brokers require that you carry at least $100,000 in coverage. It is important to note that higher limits can be required for specialized operations.

Physical Damage

Physical Damage covers your truck and trailer. This coverage breaks down into both Comprehensive and Collision insurance. Comprehensive coverage protects against non-collision damage to a vehicle or object. Also, it includes if your vehicle is stolen. Collision coverage protects if the vehicle is damaged in an accident.

General Liability

General Liability insurance policies typically cover you and your company for claims involving bodily injuries and property damage resulting from your products, services, or operations. This policy includes:

Per Shipment Cargo

Per Shipment Cargo (PSC) provides an excess line of coverage for specific shipments while transporting that particular cargo. Carriers purchase PSC when they want to haul a load of a higher value than their Motor Truck Cargo may cover. Coverage will apply to Insured Goods after departing from their shipping point while in transit to their final destination as detailed in the bill of lading, tariff, shipping receipt, or contract of carriage. Some exclusions may apply depending on your primary provider and/or commodity requiring coverage. Always check with your agent or reference your cargo policy documents for currently covered and excluded commodities.

Additional Coverages

Occupational Accident | Workers’ Compensation | Bobtail Insurance
Brokerage Insurance | Surety Bonds | Excess Umbrella