Colorado Commercial Trucking Insurance Requirements

CDOT requires Motor Carriers to complete a FMCSA DOT Registration regardless of Intra or Interstate Commerce.

CDOT is the Colorado Department of Transportation.

FMCSA is the Federal Motor Carrier Safety Administration which oversees the U.S. Department of Transportation.

Required Proof of Insurance for Motor Carriers in Colorado:

Breakdown of how Trucker’s Proof of Insurance works:

1. After you complete your FMCSA application to register as a Motor Carrier, you are assigned a DOT number.

2. Your insurance company forwards proof of coverage to FMCSA citing your DOT number.

3. This proof is your BMC-91X Filing.

4. The MCS-90 is an endorsement to your policy assuring FMCSA compliance with the law.*

5. Additionally, your insurance provider sends proof to CDOT.

6. It may take about a month to obtain your MC number for Motor Carrier Operating Authority from FMCSA.

*Upon cancellation of your insurance policy, your provider designates a date 35 days ahead. This allows FMCSA sufficient time to record the cancellation on your Safety and Fitness Electronic Records (SAFER) System.  This gives the public enough time to know that proof of insurance no longer exists.

When you work with a professional Transportation Insurance Expert, she’ll guide you through all of this and more on the phone.

Hold up—Don’t Jump into a New DOT Right Away!

Before you jump in, make sure the insurance fits your budget.

Reach out to us first to get a sense of your trucking insurance costs.

It’s smart to grasp these expenses before starting a new venture, particularly in trucking.

Save time by starting off well-informed.

Get a clear premium estimate before things get tricky.

You might find better chances hauling for others until your DOT is locked in.

When you ARE ready, here’s a handy cheat sheet we’ve put together for you with Steps to Get Your DOT Motor Carrier Authority.

Why is Trucking Insurance so Expensive for New Colorado Motor Carriers?

Colorado’s insurance rates for new trucking ventures are pretty much average.

The big issue is that commercial trucking insurance has been taking a hit for years, resulting in fewer insurance companies stepping into the commercial trucking market.

Are there any New Insurance Choices for Truckers in Colorado?

Yes, the trucking for hire insurance scene has a new player for Motor Carriers–GEICO.

CIS is super excited to team up with them—their premiums are way more affordable than the competition!

Get in touch with us today:

Colorado GEICO Commercial Truck Insurance

What are Colorado’s Trucking Insurance limits?

FMCSA and Colorado CDOT follow the same minimum insurance limits for hauling freight across state lines:

– Cargo Vans and Sprinter Insurance: $300,000 CSL Commercial Auto Liability coverage

– Hot Shot Truckers Insurance and any larger Truck units: $750,000 CSL Commercial Auto Liability

CSL stands for Combined Single Limit

Brokers and customers usually ask for $1,000,000 CSL Liability as an industry standard.

So while starting your authority with the minimum limits is okay, it’s smart to consider the cost of the $1,000,000 Commercial Auto Liability limit in the long haul.

What IS Commercial Auto Liability Insurance?

It’s not just about what the government says you need to legally run your truck.

This coverage has got your back for Bodily Injury and Property Damage if cause harm to others.

• Bodily Injury Liability steps up when there’s an accident causing injuries or worse. It helps with medical bills, rehab, long-term care, funerals, lost income, and pain and suffering.
• Property Damage Liability takes care of the costs for damaging someone else’s stuff, like fixing or replacing their vehicles, buildings, or even pets.

Bodily Injury and Property Damage are typically in a “CSL” or Combined Single Limits format for Commercial Insurance Policies.

Commercial Trucking Insurance extras to consider:

• Uninsured or Underinsured (UM/UIM) Bodily Injury Protection acts as a safety net for you and your passengers if the driver who hits you doesn’t have enough insurance. It covers your injuries and your passenger’s injuries, including any out-of-pocket expenses you might have.
• Medical Payments (MedPay) Protection helps with medical and funeral expenses if you or your passengers get hurt in a crash.

Both are quite affordable, and any good truck insurance broker should include them in your proposal.

She’ll also guide you on the right amount and type of Motor Truck Cargo coverage you’ll need to protect your customer’s freight.

Physical Damage offers both Collision and Comprehensive (Comp) coverage for your truck

If your truck gets banged up or wrecked in an accident, Collision coverage kicks in. It also helps cover repair or replacement costs if your truck hits something, flips, or rolls over.

And when your truck faces damage from stuff like theft, falling trees, wind, hail, or unexpected animal run-ins, Comprehensive coverage has got your back.

Physical Damage insurance typically depends on either the Actual Cash Value (ACV) of your truck or the Stated Amount.

For a solid Stated Amount valuation, be sure to include anything permanently attached to your ride, such as aftermarket parts, mounted gear, and lasting upgrades. Don’t forget those accessories that are essential parts or help secure the load.

Examples of permanently attached equipment to keep in mind:

– Stylish custom paint, decals, and signage

– Electronic components securely fastened to your truck

– Convenient coupling devices such as 5th wheel receivers

– Efficient vacuuming tools and accessories

– Functional mounted toolboxes, shelving units, and ladder racks

– Essential tarps, chains, and binders

Would you like to do a little more research before you dive into setting up your Motor Carrier Authority?

Then check out our CIS Commercial Truck Insurance Blog.

Or just pick up the phone and call us–we’d love to  chat with you about your new venture!

CIS 330-864-1511

We are CIS, and We Make Your Truck Insurance Easy!