Are the insurance requirements the same for power only?

Discussion in 'Ask An Owner Operator' started by joseph1853, Jan 26, 2021.

  1. joseph1853

    joseph1853 Medium Load Member

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    I've been gathering information on different scenarios for running my own truck. Option one run only a truck without a trailer and save up for a trailer. Option two get a truck and rent a trailer right out of the gate. My question is are the insurance requirements the same for power only as running your own trailer? It seems it should be less consider your running other company's trailer's with there own insurance. Thanks in advance.
     
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  3. Cat sdp

    Cat sdp . .

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    It’s the same pretty much.....

    Most want 1M primary liability and 100k cargo with some kinda trailer interchange coverage.....

    Then they toss workers compensation threats around.....
     
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  4. nctraveler69

    nctraveler69 Bobtail Member

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    You will be required by brokers if you are doing power only for Trailer Interchange insurance coverage for at least $25,000. If you are thinking for doing new trailers PO, I have seen some brokers request up to $75,000 but that would be for a new reefer. I carry $40,000 trailer interchange.

    Even though you maybe pulling someone else trailer, they want you to have coverage to insure it for any damage unless you are leasing to someone using there trailers and authority.
     
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  5. joseph1853

    joseph1853 Medium Load Member

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    Ok, so get the same insurance that you'd get if you were running your own trailer it would just be called trailer interchange insurance instead of regular trailer insurance? Is that about right?
     
  6. xsetra

    xsetra Road Train Member

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    You can do power only loads that aren't empty trailers.
    And yes the insurance cost is about the same.
     
  7. AKDoug

    AKDoug Medium Load Member

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    The big chunk of the cost on insurance is liability. That is pretty much the same regardless if power only or truck and trailer. The rest of the cost is comprehensive coverage for the truck and the trailer. If you don't have a trailer and are power only, you will need insurance coverage for trailer interchange.. which is roughly the same cost as insuring your own trailer. Cargo insurance will be the same regardless.
     
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