Dump Truck Insurance In Florida

Obtaining dump truck insurance in Florida requires understanding the required coverage and the factors that influence the cost. Here’s a breakdown of what you need to know:

Required Coverages in Florida

Florida law mandates specific insurance coverages for commercial motor vehicles, including dump trucks. The required limits are based on the vehicle’s Gross Vehicle Weight (GVW).

• Primary Liability Insurance: This is the most crucial type of coverage. It protects you from financial losses if you or your employee are at fault in an accident, covering bodily injury and property damage to others. The minimum required liability limits for dump trucks in Florida are:
  • GVW 26,000 to 34,999 lbs: $50,000 per occurrence.
  • GVW 35,000 to 43,999 lbs: $100,000 per occurrence.
  • GVW 44,000 lbs or more: $300,000 per occurrence.
• Personal Injury Protection (PIP) and Property Damage Liability (PDL): All vehicles registered in Florida must have a minimum of $10,000 in PIP and $10,000 in PDL. PIP covers your medical expenses regardless of who is at fault, while PDL covers damage to others’ property.
• Federal Requirements: If you haul across state lines, you must also comply with federal regulations from the Federal Motor Carrier Safety Administration (FMCSA), which generally requires a minimum of $750,000 in primary liability coverage for non-hazardous freight. Many dump truck operators choose to carry at least $1 million in liability coverage, as it is often a requirement for contracts with large construction companies or quarries.

Typical Costs

The cost of dump truck insurance in Florida can vary significantly based on many factors.

• Average Annual Cost: For a new operation with a new authority, the average cost can be around $13,000 to $15,000 per truck annually.
• Experienced Operators: Experienced companies with a clean safety record and good drivers may be able to secure rates closer to $8,000 per truck annually.
• Fleet Size: The number of trucks you are insuring will also impact your overall premium.

Factors Affecting Your Insurance Premium

Insurance companies assess your risk profile to determine your premium. Key factors include:

• Years in Business: Established companies with a history of safe operations often receive lower rates.
• Driving Record: A clean driving record for all drivers on your policy is essential for competitive pricing.
• Location: The city and state where you operate, including traffic density and weather risks (e.g., hurricanes), can influence costs.
• Type and Value of Trucks: The make, model, year, and value of your dump trucks will affect your physical damage coverage premiums.
• Commodities Hauled: While dump trucks typically haul materials like dirt, sand, and gravel, the specific cargo can be a factor.
• Operating Radius: The distance your trucks travel (local, regional, or long-haul) impacts risk and premium.
• Coverage Limits and Deductibles: Choosing higher liability limits or lower deductibles will increase your premium.

Additional Recommended Coverages

Beyond the required liability, many dump truck businesses opt for additional coverages to protect their assets and business operations:

• Physical Damage Coverage: This policy covers damage to your own dump truck in the event of a collision, theft, or other non-collision incidents like fire or vandalism.
• General Liability Insurance: This covers non-vehicle-related risks, such as third-party bodily injury or property damage that occurs on your business premises or from your business operations.
• Workers’ Compensation: Required in most states, this covers medical expenses and lost wages for employees injured on the job.
• Uninsured/Underinsured Motorist: This protects you if you are in an accident with a driver who has no insurance or insufficient coverage.
• Motor Truck Cargo Coverage: While less common for dump trucks hauling loose materials, this is essential if you are hauling other types of cargo that could be damaged or lost.

How to Get a Quote

To get the most accurate quote, you will need to provide detailed information to an insurance provider, including:

• Your USDOT number (if you have one).
• Vehicle Identification Numbers (VINs), year, make, model, and value for each truck.
• The commodities you haul.
• Driver and owner information, including date of birth and driver’s license numbers.
• Your desired coverage limits.

We Insure all counties in the State of Florida Alachua, Baker, Bay, Bradford, Brevard, Broward, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf,  Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Indian River, Jackson, Jefferson, Lafayette, Lake Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, St. Johns, St. Lucie, Santa Rosa, Sarasota, Seminole, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton, and Washington.

Call Dorsal Insurance today for a quote (786) 601-2485