Kansas Big Rig Truck Insurance Policy Information
Kansas Big Rig Truck Insurance. The transportation industry has been essentially revolutionized by semi-trucks; these huge vehicles allow businesses to inexpensively and quickly get their goods from one point to another. However, it is a risky business to be in, both for drivers and owner operators. There are thousands of fatal accidents in which large trucks are involved each year, and there are hundreds of deaths.
Semi-trucks and trailers are a huge liability to their owners. Kansas big rig truck insurance coverage is a critical purchase for owners, since it protects them from financial ruin if a truck under their control or that they own is involved in a serious accidents.
Kansas big rig truck insurance helps your business cover costs from an accident if you or an employee is found liable - with rates as low as $197/mo. Get a fast quote and your proof of insurance now.
Specialized insurance is required for owners of tractor trailers, and there are several Kansas big rig truck insurance coverage requirements and considerations to make. In addition to general commercial truck liability insurance that the law requires owners to maintain on this type of vehicle, owners also have the additional option to buy other coverage and to buy coverage with higher limits to help them fully mitigate the risks involved in owning a rig.
When a big rig or semi is involved in an accident, the result is often catastrophic. Rigs can be quite destructive, and the property damage and personal injury to others that a rig can cause when involved in an accident can be massive. KS trucking insurance can give you the peace of mind that you have a financial safety net if a rig you own becomes involved in a major accident.
Nearly all states require that commercial truck owners maintain liability insurance coverage. This type of coverage covers bodily injury and property damage that others incur due to the actions of the owner or the operator. Each state mandates the minimum amount of liability coverage for owners, but those coverage needs can change when truck drivers cross over into other states during the course of operating the rig. There are also federal mandates about the minimum amount of coverage for these trucks.
An additional consideration when buying Kansas big rig truck insurance is the class weight of the truck. Owners must also consider the type of cargo being hauled. For instance, if you own a Class A semi that weighs five tons and hauls hazardous goods, then you need to have a minimum of $1 million in insurance in force when your truck is on the road. If your truck weighs less than five tons and carries general commodities must have a minimum amount of $300K liability insurance coverage. By contrast, if a truck carries explosives, it may need $5 million in liability insurance coverage, no matter how much the truck weighs.
What Does Truck Insurance Cover?
When building a Kansas big rig truck insurance for your rig, you should keep the following in mind. These are additional coverages that may not be required by law, but may be require by the finance company that loans the money for the owner to purchase the rig. These include:
- Medical payments insurance. This coverage is for medical expenses incurred by drivers or passengers in other vehicles or the driver of a big rig involved in an accident. Most insurance companies require that owner/operators or owners provide them with the names of any operator who may be driving the vehicle, and sometimes they base the rate you pay for coverage on the driving records of those who are going to be driving.
- Physical damage coverage. Lenders nearly always require physical damage insurance if you have financed the rig's purchase. This coverage must remain in force for the length of the loan. If the truck becomes damaged due to a collision, this insurance pays for damage without regard to fault. Comprehensive policies also cover losses due to theft, vandalism, fire and other natural disasters.
- Motor truck cargo coverage. Cover the cargo being hauled with this type of coverage. Federal law mandates $5K minimum coverage for cargo, but individual shippers may require additional limits. This coverage protects you if the cargo you haul is damaged or loss during transit.
- Equipment coverage. In addition to a physical damage, KS equipment coverage protects you from loss for equipment you keep in the truck, such as navigational devices, electronics, tarps, chains and other items.
- Bobtail coverage. For times when the commercial tractor is operated on its own without a trailer, bobtail insurance can be essential.
- Non-trucking liability coverage. This KS coverage kicks in when you are driving the truck outside of business purposes. For instance, when you drive to or drive from the job site or if you use it for any personal reason.
- Occupational accident coverage. This coverage is similar to worker's compensation insurance, but acts as a supplement. It provides your employees with long-term disability and payments for accidental death or dismemberment.
Working with a Trucking Insurance Agent
When choosing the right Kansas big rig truck insurance policy for your needs, work with an agent who has experience in working with truckers, owner/operators and trucking companies. Compare rates through your agent to find the best possible rate and the coverage limits you need to completely protect your financial interests and your business.
Kansas Economic Data, Regulations And Limits On Commercial Insurance
Whether you're an experienced business owner who has successfully started several companies or you're a novice who is looking to establish your first startup, selecting the right location for your operations is extremely important.
It doesn't matter how stellar the products and services you offer are, if the location where your business is located doesn't offer a favorable climate, it's more than likely you aren't going to succeed.
With that said, if you're thinking about starting a new business or opening a division of your existing company in the state of Kansas, having an understanding of the economic data of the state is crucial.
Additionally, you it's also a good idea to know what type of commercial insurance policies you'll need to invest in if you operate a business in the state. Below, we provide an overview of this information so you can determine if the Sunflower State is the right place for your business endeavor.
Economic Trends For Business Owners In Kansas
In regard to job growth, the state of Kansas exceeds the national average. As of December, 2019, the unemployment rate was 3.2%, reports the Bureau of Labor Statistics; that's 0.3% lower than the national unemployment rate, which was 3.5% at the same time.
The rate has remained relatively steady, as it was 3.3% in December of 2018 and 3.5% in January of 2018; in fact, it has slightly improved. As per economists, the workforce and the economy is considered to improve or at the very least, remain steady, in upcoming years.
The state of Kansas, overall, is considered a good location for business owners; however, there are specific areas that provide better opportunities than others. Generally, these areas are the state's largest metropolitan regions and the suburbs that surround them, including:
- Kansas City
- Overland Park
Not only are these cities seeing an increase in the number of new businesses, but they also have an ample workforce, as well as a higher median income, than other areas in the state.
While there are several industries that thrive in KS, there are particular sectors that tend to do better than others. These include:
- Advanced manufacturing
- Aerospace engineering
- Biosciences and health
- Cattle production
- Food processing
- Logistics and distribution
- Non-fuel industrial minerals
Commercial Insurance Requirements In Kansas
The Kansas Insurance Department regulates insurance in KS. Kansas mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Kansas requires you to have worker's compensation insurance if you hire even one employee on a regular basis unless your business is involved in certain agricultural areas or has a gross annual payroll of less than $20,000. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Kansas also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Commercial Auto Insurance
Learn about small business commercial auto insurance which includes liability and physical damage protection for vehicles that are used for business purposes.
- Amazon Delivery Drivers
- Ambulance Services
- Big Rig Truck
- Bobtail Non-Trucking Liability
- Charter And Tour Bus
- Commercial Auto
- Commercial Van
- DoorDash, GrubHub & Uber Eats Drivers
- Dump Truck
- Food Truck
- Freight Forwarder
- Household Goods Moving
- Motor Truck Cargo
- Non-Owned And Hired Auto Liability
- Owner Operator
- Pizza Delivery
- Tow Truck
The person injured in an vehicle accident may be a child, a wage earning single parent, a brain surgeon, or even a homeless person. The costs of the accident may be relatively small or run into the millions of dollars, depending on the victim and his or her injuries. Do you have the assets to handle such costs?
Trucking operations in this chapter are among the most heavily regulated in the country. All are subject to multiple types of regulation including municipal, state and federal. The regulations are necessary because potential for severe property damage and/or bodily injury is extremely high.
All carry cargo that if not handled appropriately could have serious consequences to the cargo owner and/or the public at large. Those that carry people must prove that they keep their equipment in good condition and that employees operate in a safe, sober manner.
The insurance company pays amounts an insured is legally obligated to pay as damages because of bodily injury or property damage and certain types of pollution events covered by this insurance caused by an accident and resulting from ownership, maintenance or use of covered vehicles.
The obligation to pay is triggered only by accidental occurrences involving vehicles covered under the Business Auto Coverage Form. An eligible pollution event is covered only if it is connected to a covered bodily injury or property damage loss.
It is important that you have the proper Limit of Insurance to protect your operations. This limit is the most the insurance company pays for the total of all damages, including any covered pollution cost or expense resulting from any one covered accident, is the Covered Auto liability limit of insurance on the declarations.
This limit applies regardless of the number of insureds, autos covered, vehicles involved in an accident, premium paid, or number of claims made.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income and Extra Expense, Accounts Receivables, Computers, Motor Truck Cargo, Valuable Papers and Records, Employee Dishonesty, Money and Securities, General Liability, Employee Benefits, Umbrella, Motor Carriers Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Flood, Mobile Equipment, Signs, Warehouse Operators' Legal Liability, Cyber Liability, Employment-related Practices, Environmental Impairment, Underground Storage Tank, Stop Gap Liability and International Coverages.
Request a free Kansas Big Rig Truck insurance quote in Abilene, Andover, Arkansas City, Atchison, Augusta, Baldwin City, Basehor, Baxter Springs, Bel Aire, Beloit, Bonner Springs, Burlington, Chanute, Clay Center, Coffeyville, Colby, Columbus, Concordia, De Soto, Derby, Dodge City, Edwardsville, El Dorado, Ellsworth, Emporia, Eudora, Fairway, Fort Riley, Fort Scott, Frontenac, Galena, Garden City, Gardner, Garnett, Girard, Goddard, Goodland, Great Bend, Hays, Haysville, Hesston, Hiawatha, Hillsboro, Holton, Hugoton, Hutchinson, Independence, Iola, Junction City, Kansas City, Kingman, Lansing, Larned, Lawrence, Leavenworth, Leawood, Lenexa, Liberal, Lindsborg, Louisburg, Lyons, Maize, Manhattan, Marysville, McPherson, Merriam, Mission, Mission Hills, Mulvane, Newton, Norton, Oaklawn-Sunview, Olathe, Osage City, Osawatomie, Ottawa, Overland Park, Paola, Park City, Parsons, Pittsburg, Prairie Village, Pratt, Roeland Park, Rose Hill, Russell, Sabetha, Salina, Scott City, Shawnee, Spring Hill, St. Marys, Tonganoxie, Topeka, Ulysses, Valley Center, Wamego, Wellington, Wichita, Winfield and all other cities near me in KS - The Sunflower State.
Also find Kansasa insurance agents & brokers and learn about Kansas small business insurance requirements for general liability, business property, commercial auto & workers compensation including KS business insurance costs. Call us (620) 205-2115.
Federal Motor Carrier Safety Administration Information
- Federal Motor Carrier Safety Administration (FMCSA) - The Federal Motor Carrier Safety Administration's primary mission is to prevent commercial motor vehicle-related fatalities and ideuries.
- Safer System - The FMCSA Safety and Fitness Electronic Records (SAFER) System offers company safety data and related services to industry and the public over the Internet. Users can search FMCSA databases, register for a USDOT number, pay fines online, order company safety profiles, challenge FMCSA data using the DataQs system, access the Hazardous Material Route registry, obtain National Crash and Out of Service rates for Hazmat Permit Registration, get printable registration forms and find information about other FMCSA Information Systems.
- FMCSA Forms - All forms needed for the Federal Motor Carrier Safety Administration.
- Update MCS 150 - Form MCS-150 and Instructions - Motor Carrier Identification Report.
- How does CSA work? - CSA (Compliance - Safety - Accountability) re-engineers the former enforcement and compliance process to provide a better view into how well large commercial motor vehicle carriers and drivers are complying with safety rules, and to intervene earlier with those who are not.