Congratulations on getting your authority. Now it’s time to get the best deal on your insurance.
If you’re like most new truckers, you’re probably stressing over high premiums and struggling to compare policies. Overpaying for truck insurance can drain your profits fast. That’s where our fast, easy insurance shopping solution comes in—helping you quickly compare quotes and secure the right protection at a rate you can afford.
We’ll help you save big by bringing you 3 agents to compete for your policy. Just fill out our quick form or call us. Start your trucking insurance quotes now. It’s fast and free.
Shop Several Truck Insurance Companies at Once
Some trucking insurance companies are hesitant to take on new authorities. Some won’t even write a policy for owner operators without at least a few years experience. Those companies who do accept first year owner operators will often charge astronomical rates. As a new business owner, one of your first big tasks is finding an insurance provider that won’t screw you over.
We can help. We specialize in new venture trucking companies and have the broadest access to truck insurance programs and carriers.
We can get you in touch with three different trucking insurance companies that do business with new authorities. Comparing several companies at once will give you insight into what you need and what you don’t. It’ll also ensure you’re paying the lowest possible price.
How much does New Authority Truck Insurance Cost?
Wondering about the price tag on protecting your new authority? As a new venture, insurers see you as higher risk due to limited driving and business history. This often translates to higher premiums. However, knowing the ballpark figures and main cost drivers can help you budget effectively.
- Average Annual Premiums: New authority truckers typically spend anywhere from $8,000 to $15,000 per year for a comprehensive policy package (liability, cargo, physical damage).
- Monthly Breakdown: Depending on coverage and financing options, you might pay $700–$1,500 per month.
- Factors that drive your premium:
- Driving Record – Fewer accidents or violations can lower your rates.
- Truck Value – A newer rig or high-end tractor can increase premiums.
- Cargo Type – Hauling hazardous or refrigerated freight often requires higher coverage limits.
- Operating Radius – Long-haul or routes through congested cities may raise costs.
Costs broken down by Insurance Coverage
| Coverage Type | Typical Cost Range (Annual) | What It Covers |
|---|---|---|
| Primary Liability | $6,000–$10,000+ | Bodily injury & property damage to others |
| Cargo Insurance | $400–$2,000+ | Loss/damage to freight being transported |
| Physical Damage | 2–5% of the Truck’s Value | Repairs for collisions, fires, theft, vandalism |
| General Liability | $500–$1,500+ | Non-driving incidents (e.g., slip-and-fall claims) |
Pro Tip: Shopping around is key. Our fast, free service helps new ventures quickly compare quotes from multiple insurers, giving you the best chance to secure affordable coverage that still meets FMCSA requirements.
Which Coverages Do New Trucking Companies Need?
The big 3 coverages a new-in-biz trucker needs are Liability, Physical Damage and Cargo. The required limits for these coverages depends largely on what you are going to be hauling.
Primary Liability – Minimum required for most truckers is $750,000. Covers any accident that occurs on the road when you’re at fault. This includes collisions with vehicles and other personal property. Required by law.
Physical Damage Insurance – Covers damage done to your truck and trailer regardless of who’s at fault. Physical Damage coverage consists of two parts:
- Collision Insurance – For collisions with vehicles and other property.
- Comprehensive Insurance – For non-collision damage, like vandalism or fires.
Motor Truck Cargo Insurance – Covers damage done to cargo while you’re hauling it.
General Liability – Covers accidents that occur off the road when you’re at fault. This includes things like someone slipping and falling inside your place of business.
Non Trucking Liability – This is mainly for Truckers that do not have their own authority and most likely won’t apply to you. Primary Liability Insurance when you aren’t working. This covers you when your truck is being operated, but not for business.
Occupational Accident Insurance – This is also a coverage that truckers get when they don’t have their own authority and also most likely apply to you unless you grow to hire leased on truck drivers. This covers your leased-on drivers from work-related accidents that harm your health.
Umbrella Insurance – Excess liability coverages that fills in any gaps in your policy.
From Paperwork to Profits: Understanding Motor Carrier Authority
What does “New Authority” in Trucking mean? This refers to “authority” granted from the FMCSA lets you operate under your own MC Number. New Authorities are also commonly called “New Ventures” in trucking insurance circles.
When you run under your own authority, you’re fully responsible for regulatory compliance and insurance coverage—no more working under someone else’s authority.
- 3 Types of Operating Authority
- Common Carrier: Haul freight for any shipper.
- Contract Carrier: Serve specific clients under contractual agreements.
- Broker Authority: Arrange transportation but don’t operate trucks.
- Key Steps to Obtain Authority
Common Challenges
- Paperwork Delays: Missing forms can delay operations.
- Insurance Confusion: Finding affordable, comprehensive commercial truck insurance can be daunting.
- State vs. Federal Requirements: Each may have unique rules for minimum coverage.
Quick Tip: Check each state’s guidelines if you run intrastate routes, as some have higher liability minimums.
Other Resources When Starting a Trucking Business
Looking to build a solid foundation for your new trucking authority? Beyond securing the right insurance coverage, here are additional tools and information hubs that can help you navigate regulations, find freight, and manage your bottom line:
- American Trucking Associations (ATA)
- Why It’s Helpful: Offers policy updates, safety tips, and the latest industry news that can directly affect your trucking operations.
- Link: https://www.trucking.org
- DAT: New Authority Load Board
- Why It’s Helpful: Provides specialized load boards, plus guidance on licensing, FMCSA compliance, and cost management for owner-operators.
- Link: https://www.dat.com/owner-operators/new-authority
- Small Business Administration (SBA)
- Why It’s Helpful: While not trucking-specific, SBA resources help you tackle business formation, financing, and overall risk management for your new authority.
- Link: https://www.sba.gov
- The Trucker’s Report
- Why It’s Helpful: Features community-driven forums where drivers share real-world experiences on insurance rates, coverage options, and industry best practices.
- Link: https://www.thetruckersreport.com
Pro Tip: Combine these resources with our insurance-shopping platform to minimize costs and ensure full compliance under your new authority.
Shopping for Commercial Truck Insurance
Since choosing a truck insurance company is a major commitment, it’s best to look at several different companies at once, figuring out who offers what and which insurance policy is right for you.
New Authorities from Florida to California and everywhere in between have used our service to get shop the market and find the best deal. We believe it’s the best way in the trucking industry to comparison shop for truck insurance. Get quotes now!
