Depending on how much weight you plan on hauling and what types of commodities, FMCSA has minimum amounts of insurance requirements for Auto Liability that must be covered.
For a carriers that are planning on hauling under 10,000 lbs GVW, the legal minimum requirement for Auto Liability is $300,000.
For trucks hauling over 10,000 lbs GVW, the legal minimum requirement for Auto Liability is:
- $750,000 for Non Hazardous
- $1,000,000 for Hazardous (Oil)
- $5,000,000 for Hazardous (all others)
Brokers do have their own requirements at times for limits on insurance. For example: Cargo, General and Workers Comp may be coverages that are needed by particular brokers in order to be eligible to haul with them. We recommend talking with companies that you plan to haul for to see what those requirements are, and working with your insurance company on additional coverages you may need.