How Much Does Semitruck Insurance Cost?

Semitruck insurance is essential if you want to protect your vehicle and business. It’s also a legal requirement in every state. You’ll pay anywhere from $300 to $1,800 per month, or $3,000 to $22,000 per year, for a policy.

If you switch from leasing a semi to owning one (also known as your “own authority”), it’s particularly important to budget for semitruck insurance, as you’ll be completely responsible for all your coverages. You’ll likely pay more for your premiums than if you were to split the costs with a company.

Here’s what you should know about the average cost of semitruck insurance by state, what it covers, which factors affect your commercial insurance premiums, and how you can save money on coverage.

What’s the average cost of semitruck insurance?

If you’re a semitruck owner-operator with a lease, the carrier you work with will likely cover some of your insurance, such as primary liability and occupational accident insurance. But if you operate under your own authority, you’ll be required to buy all the coverage on your own and will pay higher rates as a result.^[1]

Additionally, while your policy may be expensive in your first year, it’ll eventually become more affordable after you establish a safe driving history.

This table shows an average cost breakdown of semitruck insurance for owner-operators.

Coverage Type	Average Annual Cost
Primary liability	$9,000–$15,000
Physical damage	$1,500–$4,000
Cargo	$400–$1,200
Bobtail or non-trucking liability	$350–$480
Occupational accident	$1,600–$2,000

Semitruck insurance costs by state

Semitruck insurance requirements and premiums vary due to state regulations. Some states adhere to the Federal Motor Carrier Safety Administration (FMCSA) minimums, while others impose higher state limits. This is due to variances in traffic congestion, accident rates, and distance traveled.

Here’s a look at average semitruck insurance costs by state for a tractor trailer with $500,000 in coverage, according to data from the National Independent Truckers Insurance Company (NITIC):^[2]

State	Average Annual Insurance Cost
Alabama	$13,200
Alaska	Not available
Arizona	$11,200
Arkansas	$11,200
California	$13,200
Colorado	$11,200
Connecticut	$11,200
Delaware	$14,200
Florida	$13,200
Georgia	$11,200
Hawaii	Not available
Idaho	$9,200
Illinois	$12,200
Indiana	$12,200
Iowa	$11,200
Kansas	$12,200
Kentucky	$12,200
Louisana	$13,200
Maine	$9,200
Maryland	$15,200
Massachusetts	Not available
Michigan	Not available
Minnesota	$12,200
Mississippi	$13,200
Missouri	$11,200
Montana	$11,200
Nebraska	$9,200
Nevada	$13,200
New Hampshire	$11,200
New Jersey	Not available
New Mexico	$11,200
New York	Not available
North Carolina	$9,200
Ohio	$12,200
Oklahoma	$12,200
Oregon	$9,200
Pennsylvania	$11,200
Rhode Island	$11,200
South Carolina	$12,200
South Dakota	$11,200
Tennessee	$11,200
Texas	$15,200
Utah	$10,200
Vermont	$10,200
Virginia	$10,200
Washington	$10,200
Washington, D.C.	Not available
West Virginia	$10,200
Wisconsin	$9,200
Wyoming	$10,200

Semitruck insurance is most expensive in states like Delaware, Maryland, and Texas, likely due to their dense population and higher risk of accidents. On the flip side, this type of coverage is cheapest in states like Idaho, Maine, and Nebraska, which have fewer drivers and less traffic congestion, both of which make car accidents less likely.

What does semitruck insurance cover?

Semitruck insurance is made up of several coverages that provide comprehensive protection for your semitruck. Primary liability insurance is a legal requirement in every state and covers accidental damage, such as bodily injuries to other parties.

The other types of coverage include:^[3]

• Physical damage: Physical damage insurance protects your semitruck from accidents and other situations, such as theft and vandalism. It may be a requirement if you finance your truck.

• Motor truck cargo: This coverage will reimburse you for damaged or lost cargo that you may be hauling. Household goods carriers, as well as some shippers and brokers, might mandate cargo insurance.

• Bobtail/non-trucking liability: Non-trucking coverage protects you from claims when you use your semitruck for personal reasons or when you’re off duty. Bobtail insurance kicks in when you drive your truck separately from your trailer. Most owner-operator lease agreements require a non-trucking liability or bobtail policy.

• Occupational accident: An alternative to workers’ compensation is occupational accident coverage. This coverage is for owner-operators who aren’t traditional employees. In some cases, carriers provide this coverage for their contractors.

• General liability: General liability insurance reimburses you for non-driving risks, such as accidents that occur when your truck is undergoing maintenance or parked at a loading dock.

When to add cargo or bobtail coverage

Cargo insurance might make sense if you’re hauling high-value goods and want to protect them from damage or theft. Bobtail coverage can come in handy if you drive your semitruck without a trailer for maintenance or personal use.

Note that if you’re leasing your truck, your carrier might require bobtail insurance. But if you’re the owner-operator, bobtail coverage may already be part of your primary liability policy.

Factors that affect semitruck insurance costs

Just like any type of vehicle insurance, factors like your age and driving record will affect your semitruck insurance premiums. The following factors may also affect what you pay for coverage:

• Operating state(s) and radius: Where you conduct business and how far you travel will influence your insurance rates for a semitruck policy.

• USDOT operating authority history: Fleet size and how long your company has been in business can affect your costs.

• Driving record and CDL experience: Insurers will likely consider your safety record and any violations you may have, as well as your driving experience.

• Vehicle value, age, and safety tech: The year, make, model, and safety features in your semitruck are risk factors that may increase or decrease your premiums.

• Cargo type/hazmat: The type of cargo you haul and whether it’s hazardous or high-value will help determine what you pay for semitruck insurance coverage.

• Desired coverage limits and deductibles: Higher coverages may raise your insurance costs, while higher deductibles may reduce them.

• Credit history: If you live in a state that allows insurance companies to consider credit-based insurance scores when determining premiums, your credit can affect your rates.

Comparing quotes is the best way to find semitruck insurance. Before you start shopping, be sure to gather important information, such as your VIN, DOT number, and mileage.

How to save on semitruck insurance costs

As a semitruck driver, it’s crucial to find coverage that’s not only affordable but also provides great financial protection. Even saving 10% on a $12,000 premium can free up your budget by up to $100 per month.

These tips can help you secure a good deal on semitruck insurance:

• Use an online quote tool. An online quote tool can help you explore policies and get quotes from at least three truck insurance companies, including one specialty company.

• Increase physical damage deductibles. If your financial situation allows, opt for higher physical-damage deductibles.

• Install ELD-linked safety tech. An electronic logging device (ELD), which can automatically record your driving time and similar data, may lead to lower premiums.

• Make annual or automatic payments. If you pay your premium annually instead of monthly or sign up for automatic payments, you can score a discount.

• Bundle policies. If you bundle non-trucking and cargo coverages with the same truck insurance company, you can save some money.

How to get semitruck insurance quotes

Follow these tips to request quotes for semitruck insurance coverage:

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  1. Gather documents

  Make sure you have your authority letter, VIN, and driver lists on hand.

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  2. Find a comparison website

  A commercial trucking insurance comparison site can allow you to get multiple quotes for similar insurance types in one place.

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  3. Verify AM Best ratings

  Confirm each truck insurance company’s AM Best rating to determine its financial strength and how likely it is to pay out covered claims.

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  4. Compare your options

  Once you have several quotes, look beyond premiums and also consider coverage limits, exclusions, and payment schedules.

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  5. Request loss-control recommendations

  Ask for loss-control recommendations, which can help you reduce risk and prevent claims, as they may lead to discounts in the future.

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  6. Print your COI

  Be sure to make a copy of your certificate of insurance (COI) for shippers.

Semitruck insurance cost FAQs