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Transportation and Fleet Insurance

Anticipate hazards. Drive forward with confidence.

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Spotlight on: Transportation Insurance

Motor carriers, whether large fleets, small fleets or owner operators, rely on us to get the insurance coverage they need to protect their trucking operation no matter the size of their transportation and hauling business.

Our transportation specialists partner with trucking companies across the country to help them identify, mitigate, transfer, finance or assume risks through successful implementation of risk management strategies, services, and products.

Because every trucker is different, we tailor coverage to meet your specific risk exposure for the demands of your most important customers.

Higginbotham’s commercial fleet insurance and risk management professionals provide transportation and fleet coverage as unique as the cargo you haul.

But we don’t stop there.

In addition to insurance, we also provide safety and loss prevention services to reduce your costs over the long haul.

The Higginbotham Difference: Custom Solutions Built Around Your Needs

We have over 300 years of combined transportation insurance and risk management experience.

Our transportation practice spends ten times the national average on education and training of our staff so we can handle the most complex and challenging transportation exposures.

At Higginbotham, we start with listening and end with custom insurance and risk management strategies tailored to your needs.

We closely collaborate with you to help ensure we deploy the appropriate strategies, from first dollar insurance programs to alternative risk transfer mechanisms like captives or self-insurance.

With our deep industry understanding, innovative solutions and strong nationwide insurance carrier relationships, we have the freedom to do what’s right, right now.

To learn more about how our values-based approach drives value for your business, click here.

Or visit our Insights page to get up to speed on transportation risk management.

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No matter what type of fleet you operate, you need insurance.

And having the right insurance coverage in place is essential for your transportation business’s long-term success.

Our team works hard to identify the right programs for your specific risk exposures. No two transportation businesses are the same. So our insurance programs are designed with you in mind.

Schedule a free consultation to learn more about how we can help your business keep moving forward with the right insurance coverage.

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Looking for an insurance partner with the same drive as yours?

Our transportation and risk management professionals have strong relationships with the insurance carriers that specialize in transportation insurance. These relationships, combined with the volume of business that we write, allow us to tailor insurance programs to each motor carrier’s specific needs.

Insurance for Any Size Fleet

National Fleets: More than 500 Power Units

National fleets represent an elite number of motor carriers that transport much of the freight that moves across the United States. Consequently, a wide range of insurance options are available to them. National fleets can choose everything from a guaranteed cost program to a large deductible, captive or even self-insurance program. Our team’s analytic tools and actuarial services provide the ability to design the best program tailored to your transportation business.

Large Fleets: 10 to 500 Power Units

The majority of large fleets represent family-owned businesses – ones that have grown over the years. Often, many of the insurance options available to national fleets are also available to large fleets. To determine which program suits your risk tolerance, our team will analyze your historical data and develop the program that is best for your trucking operation’s continued success and growth.

Small Fleets: 2 to 10 units

Small fleets represent the largest number of motor carriers, with filings across the United States. As a result, the need for broad coverage to meet your shipper’s needs is just as great as it is for national fleets and large fleets. To meet this challenge, we usually write insurance coverage on a guaranteed cost basis. Higginbotham’s deep relationships with the insurance carriers give us leverage to find the coverage you need to compete with any fleet operation.

Programs for Independent Contractors Leased to Your Fleet

Many motor carriers (national fleets, large fleets and even small fleets) have established insurance programs to attract independent owner operators.

We’ve specialized in these programs for decades. With proprietary software, we administer these programs more efficiently than other insurance agencies – typically for a cost that’s 30-40 percent less.

This lower administrative cost results in lower rates. That helps you attract more drivers. Best of all, you will find that our staff of insurance professionals assume more of the on-boarding and off-boarding work that you’re presently handling in-house. That can reduce your cost even more.

These programs help you allocate your transportation company resources to doing what you do best, moving freight safely.

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Owner Operators

This unique class of transportation professionals typically falls into one of two groups:

  1. Those that own and drive their own tractor and have their own operating authority.
  2. Those that own and drive their own tractor, but lease to a motor carrier with operating authority and haul freight for that motor carrier.

Which business model is right for you as an owner operator?

The right model for you depends on your unique circumstances, capital resources and desire for control.

Whichever way you turn, we can help you achieve success.

Owner Operators Leased to a Motor Carrier 

These owner operators lease or contract with a motor carrier to haul freight under that motor carrier’s operating authority. Most of these lease agreements are non-exclusive, yet the reality is a bit different. Often, owner operators with these arrangements end up hauling exclusively for the motor carrier to which they are leased.

In these arrangements, the motor carrier usually provides the freight. Also, they are responsible for billing and collecting from the shipper. Motor carriers also often provide primary auto liability and cargo insurance while you’re hauling cargo for that motor carrier.

Owner Operators with Their Own Tractor and Operating Authority

An Owner Operator with their own tractor and operating authority assumes all the responsibilities of a motor carrier.

That includes the acquisition and full cost of insurance, obtaining loads from shippers or brokers, as well as all the billing and collections that comes with that responsibility. Owner operators are no different than any other motor carriers, except for the fact that they operate as a single unit.

Transportation Insurance Coverage Options

Whether you’re an owner operator or run a national fleet, the importance of protecting your tractors and the valuable assets contained within is critical to your success.

If you’re unsure of the coverage that makes sense for your situation or just want to learn more, we have the insight you’re seeking.

While these options represent some of the more common transportation coverages, it’s crucial to work with an insurance broker who knows the transportation markets and takes the time to understand your operation before placing coverage.

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Motor Carrier Liability

Motor carrier liability insurance can cover damage and injuries to other people and their property. This coverage is designed to protect your transportation and hauling business against lawsuits that result from a motor vehicle accident. This insurance is generally required transportation coverage for all regulated motor carriers and for-hire cargo carriers.

Non-Trucking Use Liability

This specialty insurance coverage is designed to protect independent owner operators leased to a motor carrier when they are not driving their unit in the motor carrier’s business or hauling freight.

While frequently referred to as “Bobtail Coverage” by drivers, non-trucking liability (NTL) is the insurance terminology you are likely to hear. Like motor carrier liability, this insurance can cover damage and injuries to other people and their property, protecting the independent owner operator against lawsuits that result from a motor vehicle accident that is not covered by the motor carrier liability policy.

Physical Damage

Physical damage insurance can cover damage to your trucks, trailers and transportation equipment. Covered perils typically include collision, fire, theft and vandalism to the equipment. Usually required by lenders, it is an important insurance coverage to consider and keeps your transportation business moving and profitable.

Motor Truck Cargo

Motor truck cargo insurance coverage can protect your customers’ freight from damage or loss while it’s in your care, custody and control. Risk exposures to freight include fire, theft and vehicle accidents. Typically required by shippers, this coverage falls outside of the exposures covered by the motor carrier liability policy.

Workers’ Compensation

Workers’ comp, workman’s comp – no matter what you call it the intent is always the same – protect an employee who gets injured on the job. This no-fault insurance can pay medical bills and a portion of the lost wages resulting from an employee injury or fatality on the job.

This coverage is designed to protect the motor carrier against legal fees and settlement costs and is required by most states.

Occupational Accident Insurance

Occupational Accident Insurance can protect the independent owner operator when injured on the job in a work-related accident. Subject to policy limits, this coverage may pay medical bills and a portion of income lost due to the accident. It is important to note that occupational accident insurance is not workers’ compensation and does not relieve you of the responsibility to purchase workers’ compensation coverage if mandated by the state in which you are based.

Commercial General Liability

Every business should have general liability insurance, including transportation companies. While most exposure to loss in the transportation and logistics industry results from vehicle accidents, all companies usually have some exposure to other losses on their premises that can be covered by a general liability policy.

Umbrella Excess Liability

Umbrella excess coverage can provide additional layers of liability protection that sit above your underlying motor carrier liability and commercial general liability policies. An umbrella policy can protect your transportation and logistics business for legal fees and settlements that result from a catastrophic loss that exceeds your underlying policy limits.

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Mid-South Truckers Group

We put our carrier relationships to work for you.

For the owner operator leasing to a motor carrier, we’ve designed an insurance program through Mid South Truckers Group that lets us leverage the purchasing power of over 1,500 independent owner operators.

With this significant purchasing power, we’ve obtained competitive rates with flexible pay options that give independent owner operators a way to maintain control over their business insurance for a low rate.

A big advantage of using Mid South Truckers Group is that the coverage is portable. So, you don’t have to change insurance carriers and agents every time you change your lease from one motor carrier to another.

Learn more here.

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Work with a transportation insurance specialist who knows your industry.

A great plan starts with a conversation. Let’s talk about what you need.

Talk to a Transportation Insurance Specialist

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