WEDNESDAY, SEPTEMBER 20, 2023
The trucking industry is essential to the American economy, delivering goods that fuel our lives and drive our businesses forward. It is also an industry that faces unique risks, from long-haul fatigue to unpredictable road conditions. 
Here in Waterloo, Iowa, Elliott-Hartman Insurance Services delivers customized insurance solutions.
Required Commercial Auto Insurance Policies
Iowa regulations mandate insurance coverage for commercial trucking.
Liability insurance for bodily injury and property damage is required with minimum dollar limits set by the state. Your agent can help you design an insurance plan that meets Iowa’s guidelines. Your trucking company may also be subject to federal insurance regulations.
It’s essential to consult the Federal Motor Carrier Safety Administration (FMCSA) and the Iowa Department of Transportation for the most up-to-date and comprehensive information on commercial auto insurance requirements. Laws and regulations can change, so it’s crucial to ensure you are complying with the most current guidelines.
Customizing Your Trucking Insurance Coverage
Your agent may also recommend that your company purchase the following trucking insurance coverage:
- Cargo insurance—Many shippers and freight brokers require cargo insurance. This policy may help cover the freight or commodity being hauled in case of loss or damage.
- Uninsured/underinsured motorist—This policy may help cover your drivers and assets if you are involved in an accident with a motorist with insufficient or no insurance.
- Workers’ compensation—If you have employees, Iowa law mandates workers’ compensation insurance to help cover medical expenses and lost wages for employees injured on the job.
- Trailer interchange—For those in a trailer interchange agreement, this insurance covers physical damage for trailers pulled under the contract.
- Physical damage—This includes collision and comprehensive insurance, designed to help repair or replace your covered equipment after an accident or incident.
- Bobtail insurance—This may help cover the tractor when operated without a trailer, regardless of whether it is under dispatch.
- Non-trucking liability—For owner-operators who lease their services, this offers liability coverage when not under dispatch.
- Downtime/rental reimbursement—If your truck is sidelined due to a covered loss, this coverage may help reimburse your company for the rental costs or the loss of income.
- Environmental and pollution—This coverage may help pay for costs associated with the cleanup of spills or pollutants released in an accident.
Contact Us
Whether you’re an independent owner-operator or manage an entire fleet, Elliott-Hartman Insurance Services is ready to help you get appropriate insurance coverage. Contact us today for a trucking insurance quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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