Oregon Truck Insurance
Truck Insurance in Oregon
Driving a truck in Oregon isn’t cheap. Far from it: According to the 2018 Annual State and Federal Highway User Taxes and Fees report, Oregon is the most expensive state in the country when it comes to operating a commercial heavy vehicle. Regardless, the state practically runs on trucking, with one out of 17 people working somewhere in the trucking industry as of 2017 (over 92,000 jobs).
With that being the case, you need to be careful with your spending, especially when it comes to Oregon commercial truck insurance. On the one hand, you need to be sure you’re protected against financial ruin in the case of an accident—accidents which are all-too-common. (According to the FMCSA, in 2018, the “number of large trucks and buses in fatal crashes . . . increased by 48 percent from its low of 3,432 in 2009.”) On the other hand, insurance rates are rising, so you want to know that your insurance is worth the cost.
While insurance is vital no matter where you drive, every state has its own special considerations. Let’s review why you need Oregon truck insurance and why you should use an independent insurance agent when protecting your fleet.
Why do I need Oregon Trucking Insurance?
Truck Liability Coverage
When an accident involves your truck and another party, someone will have to pay for the damages. With liability coverage, that someone isn’t you; the insurance covers the other party’s injuries or damages. Liability coverage is required by law no matter what state your business operates in. In Oregon, truck drivers and businesses are required by law to hold a minimum level of liability insurance, determined by what you haul and where. For example, if your truck doesn’t cross state lines and is over 26,000 GVW, you are required to acquire an intrastate-only USDOT Number and be insured. Regardless of the law, liability insurance is there for your own protection. The last thing you want is to be left alone to foot the bill for your legal defense if you’re sued following an accident.
Physical Damage Coverage
If you can recognize the value of liability coverage, you can recognize the value of physical damage, even if it isn’t required by law. Accidents happen, and you need protection when they do. After all, truck accidents are expensive. According to the FMCSA, “the average cost of all large truck crashes is about $91,000 per crash.” That average goes up to nearly $200,000 when the crash results in injuries. But physical damage coverage protects you from losses, especially when a truck is put out of commission.
Motor Truck Cargo
Motor truck cargo insurance is needed by for-hire truckers to properly cover the commodities they are hauling. It is generally required by the party who owns the product being transported. This ensures that if their goods are damaged or stolen while in transit, their assets will be covered. Depending on the cargo that is in transport by your big rig, you may need specific endorsements. For example, if you transport refrigerated goods, you will need to make sure you have “reefer breakdown” coverage. This might cover a $50,000 load of ice cream when the reefer unit breaks down along I-5 between Portland and Salem in the summer. Of any line of 18-wheeler insurance, cargo insurance is the one you need to understand and pay attention to the most. You usually get what you pay for, and some carriers will make a long list of exclusions that specifically exclude coverage for certain events.
Truckers General Liability
This coverage can be a bit more confusing, but here is the simplest way to understand it: Truckers general liability is designed to protect your business from damage that might occur when you are not behind the wheel of your truck. Your auto liability coverage would cover your business when you are driving. If you have other aspects of your business—such as a quarry or a consolidation warehouse—you will need a more robust general liability insurance policy that considers exposures outside the realm of trucking.
Why Should I use an Independent Insurance Agent?
Find Insurance Programs Specific to Your Needs
The happy truth is that, no matter what you’re driving, there’s a program catering to that vehicle and its needs. For example, TIS specializes in the trucking niche and provides market access to numerous specialty Oregon commercial truck insurance programs, such as the following:
- Auto Haulers
- Box Trucks
- Cement Mixers
- Commercial Vans
- Dry Van
- Dump Trucks
- Garbage Trucks
- General Freight
- Heavy Haul
- Hot Shots
- Long Haul
- LTL Trucking
- New Ventures
Instant Certificates of Insurance with our Mobile App
At TIS, we know that the need to prove your policy can arise suddenly, and when it does, nothing else in that moment matters. That’s why, through our mobile app, we offer you 24/7 access to certificates of insurance. No matter where in Oregon you drive or the time of day or night, we’re with you.
Get Assistance with your Oregon Truck Permits & Filings
With so many laws and regulations, ensuring you stay compliant can be tricky—but not staying compliant can be expensive. This year’s International Roadcheck inspection blitz saw over 15,000 trucks and drivers in the US, Canada, and Mexico placed out-of-service. Among those cases, 687 were due to wrong class licenses, and 141 were due to suspended licenses.
The right agent will help you make sure you’re never caught by surprise—that your permits are all up to date and that you’re in compliance. At TIS, our permits department is well versed in all of the permits and regulations in Oregon, and we are constantly watching the ever-changing system for updates that might trip you up. We ensure our clients have all of the necessary Oregon truck permits and keep you informed of all changes made to laws and regulations.
Commercial Transportation & Truck Insurance in 48 States
We can also quote your commercial trucking insurance in states bordering Oregon including California, Nevada, Washington and Idaho. Contact us today to learn more on how we can help you with all your truck insurance needs.
Oregon Truck Insurance Quote
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Shayln was absolutely wonderful! I had a question about a MCP and EPN and she got back to me with the answer within the workday! Very knowledgeable staff and if unsure about new circumstances they double check and get back to you right away!Jamie P.
They make my life easier by always being available, having answers to my questions and being able to promptly address and tackle any issues that arises. I wish I had known about this insurance company/team when I first started in the business. For my business they have been a one stop shop when it comes to insurance. I’m positive they still have more knowledge to share with me even if I would have a question not regarding insurance and point me in the right direction and get me in contact with someone to answer my question. That’s the type of service you can expect from them! There are certain things we can not take care of ourself and need to be outsource, outsource your insurance to this company it’s a partnership you will be glad you made!Joseph Gomez
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