Insurance Cost Estimator
Estimate monthly and annual commercial truck insurance costs based on truck value, driver experience, driving record, and coverage level.
Results
Visualization
How It Works
ATRI 2024: average insurance premium = $0.106/mi or roughly $11,660 annually at 110K mi. Real-world dispersion is wide. Owner-operators with 1-3 yr authority age and 1M primary + 100K cargo + phys damage: $9,200-$13,400/yr. Authority age 4-7 yrs with clean MVR/CSA: $11,000-$14,800/yr (rate hardening since 2019 has bumped this group). Authority 8+ yrs, fleet of 5+: blended $13,200-$18,400/truck-yr. New entrants under 2 yr authority: $14,000-$22,000/yr — insurer-specific. FMCSA 49 CFR 387.9 sets the federal floor: $750K primary liability for non-hazmat household goods, $1M for general freight in interstate commerce, $5M for hazmat Class A. Most brokers and shippers contractually require $1M primary + $100K cargo regardless of FMCSA minimum.
The Formula
Physical Damage = Truck Value x 3.5% (for premium coverage)
Variables
- Primary Liability — Bodily injury and property damage to third parties; FMCSA 49 CFR 387.9 minimums. Filed on Form MCS-90.
- Physical Damage — Comp + collision on your own equipment. Rated at 3-5% of stated value annually. Required by lender on financed trucks.
- Cargo — Coverage for freight in trailer; not federally mandated but contractually required by most brokers ($100K-$250K typical)
- NTL/Bobtail — Non-Trucking Liability for owner-operators leased to a carrier — covers personal use when not under dispatch. $300-$600/yr typical.
- CSA Factor — CSA scores in BASIC categories (Unsafe Driving, HOS, Vehicle Maintenance, Controlled Substances, Crash Indicator) directly impact insurer rating; threshold-exceeded scores in any BASIC = uninsurable with most A-rated carriers.
Worked Example
Anthony, MC authority 4 years, age 38, 12 yr CDL, MVR clean, no preventable crashes, CSA all BASICs under threshold. 2021 Cascadia stated value $98K, parked at home address (low theft area). Quote stack: primary 1M = $7,150; cargo 100K = $625; phys damage 0% deductible $1K coll/$500 comp = $3,420 (3.49% of stated value); NTL $385; trailer interchange $485 = $12,065/yr base. With 5% safety camera discount (Lytx DriveCam) and 8% multi-policy (truck + general liability): final = $10,615/yr or $885/mo. Insurance CPM at 110K mi = $0.0965 — slightly below ATRI 2024 of $0.106 because clean record and authority age 4+ are below industry-blended.
Practical Tips
- FMCSA 49 CFR 387.9 specifies minimum financial responsibility — but contractual requirements from brokers (1M primary + 100K cargo) almost always exceed the federal floor for general freight. Quote and bind to contract requirement, not regulation minimum.
- CSA scores under FMCSA Compliance Safety Accountability program drive 30-60% of insurer rating differential. Pull your CSA snapshot at SaferSys.org monthly. Threshold-exceeded scores in Unsafe Driving or Crash Indicator BASICs make most A-rated insurers refuse to quote at any price.
- Increase phys damage deductible from $1K to $2.5K saves 12-18% on phys damage premium ($350-$650/yr on a $98K truck). Run the math: a $2,500 deductible breaks even on a $400/yr savings if you avoid a claim for 6+ years.
- OOIDA group programs (through Greater New York Mutual, Northland) typically save 8-12% versus retail Progressive Commercial or Berkshire Hathaway Direct on identical coverage — but quote both annually. OOIDA is not always cheapest in every state.
- MCS-90 endorsement is a public-protection filing, not an insurance policy. It guarantees federal minimums to crash victims even if your underlying policy excludes the loss. Required for all FMCSA-authorized for-hire interstate carriers.
- Lytx DriveCam, Samsara AI dashcam, or Motive AI cameras typically earn 4-8% discount with most insurers. They also reduce claim severity by 25-40% in disputed-fault crashes — payback on $35-$45/mo subscription is usually one fender-bender.
Frequently Asked Questions
How much is commercial truck insurance per month in 2024?
Owner-operator with 4+ yr authority, clean MVR, mid-value truck: $850-$1,250/mo all-coverages. New entrants under 2 yr authority: $1,400-$1,950/mo due to insurer high-risk pricing. Rate hardening since 2019 has raised baseline 20-35% across the segment, with verdict severity in commercial truck cases being the underlying driver.
What is required by FMCSA 49 CFR 387?
FMCSA 49 CFR 387.9 sets primary liability minimums: $750K for non-hazmat household goods or non-hazmat freight under 10K lb, $1M for general freight, $5M for hazmat Division 1.1, 1.2, 1.3 explosives or Division 2.3 poisonous gases. MCS-90 endorsement makes coverage federally enforceable. Cargo insurance not mandated by FMCSA except for HHG (household goods) at $5K per vehicle / $10K per occurrence.
What is CSA and how does it affect insurance?
Compliance Safety Accountability is FMCSA's carrier safety measurement system. Seven BASICs (Behavior Analysis Safety Improvement Categories): Unsafe Driving, HOS Compliance, Driver Fitness, Controlled Substances/Alcohol, Vehicle Maintenance, Hazmat, Crash Indicator. Scores above threshold (varies by BASIC and carrier-size peer group) trigger interventions. Insurers pull CSA monthly — threshold-exceeded scores increase premiums 25-45% or trigger non-renewal.
Why are insurance rates so high right now?
Three factors stacked since 2019: nuclear verdicts (jury awards over $10M doubled 2010-2018 in commercial truck cases per ATRI nuclear-verdicts report); reinsurance treaty hardening; shrinking insurer participation in the segment (Liberty Mutual, Zurich pulled back). Result: 4-8% annual rate increases on clean accounts, 12-25% on accounts with claims, segment-wide.
Can I get truck insurance with no authority age?
Yes but limited. Brokers with new-venture programs (Reliance Partners, Insurance Office of America, OOIDA) place new MC authority at $14K-$22K/yr. Most A-rated insurers require minimum 2 years MC authority age. Driving for an established carrier under their authority for 12-24 months before going independent can shave $4K-$8K off your first independent year.
What is bobtail vs non-trucking liability?
Bobtail liability = covers your truck when driving without trailer, regardless of whether under dispatch. Non-Trucking Liability = covers when truck is operating outside the lease/dispatch (personal use, returning home from terminal). Owner-operators leased to a carrier need NTL because the carrier's policy excludes off-dispatch use. Typical cost $300-$600/yr.
Should I run a million dollar primary or two million?
FMCSA minimum is $1M for general freight. $2M primary or $1M primary + $1M umbrella adds typically $850-$1,750/yr. Worth it for high-value cargo (over $250K), urban/dense routes (NYC, LA, Chicago), or fleets exposed to plaintiff-friendly venues. Single-truck regional dry van usually stays at $1M unless broker contract demands more.