Wyoming Truck Insurance
WY License #: 292181
Wyoming Trucking Insurance
Driving profit and keeping your trucks on the road goes beyond hiring safe drivers. You also need to perform regular maintenance checks for your vehicles and make sure you find the best insurance to protect your drivers and trucks. It can be intimidating to find the right insurance for you and your company, especially as insurance rates continue to rise, but it’s necessary. According to the FMCSA, “5,096 large trucks and buses were involved in fatal crashes,” a 48 percent increase from the low of 3,432 in 2009. Because large truck crashes are so common, it’s not a question of whether or not you should be insured. It’s a matter of how to find the best insurance for your budget. Fortunately, we’re here to help you find the best option for your needs.
While insurance is crucial no matter where you drive, every state has its own special considerations. Let’s get into the specifics of Wyoming truck insurance and why you should use an independent insurance agent when protecting your trucks.
Why do I need Wyoming Truck Insurance?
Truck Liability Coverage
Every state requires liability coverage, and it’s easy to understand why. Liability coverage is essential because it covers any injuries or damage sustained by the other driver or vehicle involved in an accident. In Wyoming, 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. 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
While physical damage coverage is not required by law, it’s just as essential as liability coverage. By their nature, accidents involving trucks get expensive quickly. According to the FMCSA, “a crash with injuries costs almost $200,000 per crash,” and the average cost of all large truck crashes is about $91,000. Think that’s bad? Well, that average only increases based on the severity of the crash. Luckily, 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. In Wyoming, you are required to have cargo insurance with a minimum amount of $10,000 per catastrophe. 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 dairy products when the reefer unit breaks down on I-25. 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 is similar to liability insurance, but it can be a bit more confusing. 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. On the other hand, 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
It’s best to find an insurance program that caters to your specific needs rather than searching for a generic policy to try to tailor later. This will save you time and money in the long run, as you will be able to spend effort on driving profit instead of looking for better insurance. For example, TIS specializes in the trucking niche and provides market access to numerous specialty truck insurance programs, including programs for the following:
- General freight
- Dry van
- Refrigerated units
- Dump trucks
- Auto transport
Instant Certificates of Insurance with our Mobile App
Insurance is supposed to be there for you at all times, especially when you least expect to need it. When the unexpected happens and you need to prove your policy, the last thing you want is to be waiting in the middle of the night for an insurance agent to return your call or get back into the office. This is why TIS is available 24/7 to issue your certificate of insurance through our mobile app. Regardless of where you or your drivers may go, we’re there with you for every mile of the journey.
Get Assistance with your Trucking Permits & Filings
With so many laws and regulations, compliance can be tricky—but forgetting to be compliant can be expensive. We know how difficult it can be to keep up with ever-changing regulations and permits, which is why TIS agents are there to make sure you keep all of your permits up to date. Our permit department is well versed in all things Wyoming truck insurance, 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 permits and keep you informed of all changes made to laws and regulations.
As an independent brokerage, TIS has access to nearly every carrier under the sun. No matter what kind of truck you’re driving, we can partner you with the carrier right for your business. Contact us today to learn more.
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Here is what Our Happy Customers have to say
I’m so pleased that Lindsay was a able to bind our insurance coverage.. I know she had to spend some time on us, and we received a good quote, and I also am able to access quick COI... outside of the office hours.. so happy to be on board.. thank you Lindsay and TIS.Mary Marchbanks
I recently needed some “hard-to-get” workers comp insurance for my one and only employee and had to make numerous phone calls to different insurance companies. Mark Wright at TIS (The Insurance Store) was one of the few who got back to me quickly, so I placed the policy with him. He communicated well, was fast, efficient, and made it easy for me to get signed up. He can do the same for you!Kansas Jayhawk
Selene is amazing when you need to find commercial trucking insurance.Denise S.