Florida Commercial Truck Insurance: Complete Guide

Looking for commercial insurance for your trucking company in Florida? You’ve come to the right place. Here is a complete guide to all the essential aspects of your commercial insurance, from the legal requirements you must comply with to the key points to make an informed decision when purchasing commercial insurance for your truck in this state and protect your business.

As a business owner in Florida, you know that being prepared for any eventuality is key: from hurricanes and tornadoes to road accidents. These events can put your operations on hold and affect your income if you don’t have the right coverage. 

Imagine facing any challenge with the peace of mind that your business is protected. Having the necessary backup ensures the continuity of your operations and protects your resources and your team, allowing your company to continue growing without interruption. Proper protection is the foundation for your business’s success and sustainable growth.

At this point, you’re probably wondering: What should I count on to insure my trucking company in Florida? What aspects of commercial trucking insurance in Florida are essential or required by law? Fortunately, we’re going to break down all the information you need to know, in several sections, so that once you’ve finished reading this, you’ll be ready to make an informed decision.

Essential Components of Commercial Truck Insurance in Florida

Florida law and federal regulations recommend that trucking companies meet specific minimum insurance requirements. These are essential to ensure that businesses are protected against common risks. Here are the commercial insurance policies required to keep your trucking company operating smoothly. 

Commercial Auto Liability (AL)

This coverage is essential and mandatory for all commercial vehicles in Florida. It protects your company if one of your trucks causes damage to third parties or their property. It does not include damage to your vehicle, including windshield repairs.

All vehicles in Florida must carry a minimum amount of Commercial Auto Liability coverage.

The minimum coverage limit for operating Intrastate (within your state) varies depending on the type of business, as follows:

Household goods: $300,000

General Cargo: $750,000

Oil transportation: $1,000,000

Passengers (1-15): $1,500,000

Passengers (over 16): $5,000,000

Hazardous materials: $5,000,000

If you wish to operate interstate (out of state), your minimum Commercial Auto Liability coverage is $750,000.

Personal Injury Protection (PIP) 

You can include this additional coverage within your Commercial Auto Insurance. It is also known as “no-fault insurance” because it protects the vehicle’s driver, in the event of an accident, against medical expenses, regardless of who was responsible for the accident.

It provides essential protection for fleet drivers as well as your company.

In Florida, it is mandatory for all companies that use commercial vehicles in their operations to purchase this coverage. The minimum Personal Injury Protection coverage in Florida is $10,000.

Motor Truck Cargo (MTC)

Also known as Cargo, MTC or Inland Marine. Protects the cargo being transported against loss or damage due to fire, collision or collision.

Having this coverage is essential in a state like Florida, where temperatures are warmer than most of the country. Many carriers require it, especially when transporting refrigerated cargo. A brief failure in refrigeration or ventilation can ruin goods in hours due to high temperatures.

With an MTC policy, you will have the peace of mind that even in such incidents, you will not have to bear the cost of the damaged cargo.

Workers’ Compensation Insurance:

Insurance that provides cash benefits and/or medical care to workers who are injured or become ill as a direct result of their work. The employer pays for this insurance and does not require the employee to contribute to the compensation cost. 

It is necessary to protect employees and comply with state laws. In addition, it frees you from potential lawsuits if any of your company members suffer an accident while working and decide to take legal sanctions.

As in most U.S. states, this coverage is required by law if you employ four or more workers in your business, either part-time or full-time. You must have this coverage to operate legally and avoid significant headaches for your trucking company.

How much does it cost to have commercial insurance in Florida?

Businesses with multiple employees may be required to pay more for insurance because their potential for incidents is more significant than a business with fewer employees. Each additional employee increases exposure to accidents and other mishaps that may result in a claim.

Remember that insurance costs can vary considerably depending on the type of vehicles you operate within your company or their activities. That is why it is essential to count on an insurance agency such as Preventty to advise you and recommend transparently which coverages or policies are best suited to your needs and budget.

Once you purchase commercial truck insurance:

• Even if one of your vehicles is out of operation or not driving, pay attention to renew your coverage. In case you want to cancel the insurance, surrender the truck’s registration before cancellation.
• Buy the policy from an insurance company licensed to do business in Florida (Don’t worry, Preventty helps you find a variety of insurers that operate in Florida legally). 
• If you move your operations to Florida, you can ask your insurance agent to transfer your insurance to an insurance company licensed in this state.

Windshield Replacement Coverage: The “Florida Windshield Law”

Florida has a unique and beneficial law for commercial vehicle owners, commonly known as the Florida Windshield Law. This law is particularly important for trucking companies due to the high risk of windshield damage during daily operations.

Florida Statute 627.7288 states that insurers must cover the total cost of windshield repairs or replacements with no deductible applied. This rule, known as the Florida Windshield Law, applies to vehicles with comprehensive coverage. That is, those that are protected against non-accident related threats, such as natural disasters or theft.

In addition, it is essential to note that this law only applies to “admitted” insurance companies (authorized by the state of Florida).

Consider including comprehensive coverage in your commercial insurance policies to take advantage of this benefit. Although it may increase your premiums slightly, the potential savings and convenience in windshield repairs far outweigh this additional cost.

Get a free commercial insurance quote for your truck:

Understanding Florida’s specifics on trucking insurance and regulations is crucial to operating successfully. Now that you know everything you need to know about commercial insurance in Florida, what are you waiting for to secure your operations through one? Our agency is here to help you navigate safely and ensure that your trucking business is always on the move, without mishaps or avoidable costs through commercial vehicle insurance.

What are you waiting for to work with agents who are comfortable and proficient in Florida-specific laws? Our phone lines are open Monday through Friday, 7:30 a.m. to 5:30 p.m.: call (713) 332-1286.