Truck Insurance Florida Rates Like many other states, truckers are legally required tohave trucking insurance in order to continue or start their business operationsin Florida. According to Florida law, every motorist who wants to run theirbusiness only in Florida must have liability insurance with a minimum limit of$300,000. However, to run your non-hazmat trucking business in all 48 states,the laws requires a minimum liability limit of $750,000 and requires a minimumliability limit of $1,000,000 for hazmat trucking businesses. The rates of truckinginsurance vary depending on the city and state that the business is primarilylocated; hence the rates of trucking insurance in Florida are different fromother states. In this article, we’re going to look at the trucking insurancerates for business located in Florida and the types of coverages available fortruckers. We’ll also list some of the best insurance companies that providetrucking insurance in Florida.How much Does Trucking Insurance Cost in Florida?According to the Insurance agencies’ surveys and research,the average cost of trucking insurance in Florida is $15,354 per year. It’san average cost of trucking insurance, including standard liability, physicaldamage, and cargo coverages provided to a Trucking Company with one truckoperation. The average premiums you may need to pay in exchange for gettingaverage trucking insurance coverages can range from $10,200 to $22,340. However, you must keep in mind that there’s a wide range offactors that can hugely impact the overall cost of Trucking Insurance. Let’sbriefly discuss the factors affecting the Trucking Insurance rates in Florida.Factors Affecting Trucking Insurance Rates in Florida· The type of Trucking EquipmentNot only can this define your business, but it also defineswhat type of insurance you need and it plays a huge role in what price you’regoing to pay. For example, new truckscan bring down your liability premium because it is less risky on the road, butit may increase your physical damage premium since a newer truck costs morethan an older truck. Also, some trucks are bigger than others and some can haulmore things than others.· Type of CargoThe type of cargo your trucks are hauling can also impact theoverall trucking insurance rates. A truck that transports hazardous materials,dirt, sand, autos, etc. clearly pose more of a safety risk, thus is more expensiveto insure than one that hauls general freight, whether dry or refrigeratedgoods. Auto haulers, for example, pose a great risk; therefore, their insurancerates are much higher than other types of truckers.· The volume of Your BusinessThe different aspects of your business can impact the ratesof your premiums. For example, if your company has multiple trucks and driversto be insured, you’ll most likely pay a lower premium per truck. This is notalways the case, but our agency works to get as many discounts as possible for allour clients.· Level of CoverageLike mentioned before, Florida law states that truckingcompanies working only in the state of Florida must have minimum liability limitof $300,000. To run a non-hazmat trucking business in all 48 states, the laws requirea minimum liability limit of $750,000 and requires a minimum liability limit of$1,000,000 for hazmat trucking businesses. Besides these factors, the truckdriving experience of your drivers, the age of your trucking equipment, and thedriving area can also impact Trucking Insurance rates. The higher your limit,the high your premium, but don’t let this discourage you because our agency canfind you a lower price with a great insurance company with the coverages youneed.What are Trucking Insurance coverages available in Florida?By collaborating with the FMCSA (Federal Motor CarrierSafety Administration), Florida has defined specific insurance requirements forTruckers. The trucking insurance coverages you’re required to get depend onwhether or not you have your own authority (MC Number). If you have your ownauthority, you’ll be required to have your own primary liability. However, ifyou don’t have your own authority, then bobtail/non-trucking liabilityinsurance would cover you while you work under someone else’s authority.The different trucking insurance coverages include:Primary Liability.GeneralLiability.PhysicalDamage.Motor Truck Cargo.Trailer Interchange.Uninsured Motorist Coverage. Insurance Companies we represent in Florida.Wesco InsuranceCompany.Insurance Company.Progressive ExpressBerkshire Hathaway.Trisura Specialty Insurance Company.Knight Specialty Insurance Company.Sutton Specialty Insurance Company.Accredited Surety and Casualty Company. Clear Blue Insurance Company.Granada Insurance Company (inside FL only).Northland Insurance Company.Occidental Fire & Casualty Company o N.C.Canal Insurance Company.County Hall Insurance Company.Brooklyn Specialty Insurance Company.And many more call for more details.