Michigan Owner Operator PIP Truck Insurance Rates
Michigan Owner Operators are required to carry PIP, which inflates their truck insurance rate. PIP is Personal Injury Protection that an Owner Operator purchases as
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A Hot Shot is required to obtain a USDOT number from FMCSA to haul freight for hire across state lines with a minimum auto liability requirement of $750,000 commercial insurance. (link)
But like Expediting, market forces have settled in at $1 Million Commercial Auto Liability and $100,000 Cargo.
However, due to the high value of cargo the most common limit is now $150,000 and many customers demand up to $250,000 in coverage.
Some Hot shots use flatbed trailers to haul machinery and farm equipment. Others focus on cars and “toys” like motorcycles, boats, golf carts, RVs or Trailers. These dually pickup trucks can use a 3 to 4 car wedge to haul multiple cars or choose enclosed trailers to better protect the cargo.
Both Hot shots and Expediters are Trucking for Hire operations of a time sensitive nature, and both tend to operate between 300 and up to unlimited miles. Many do not go home the same day they deliver the freight, and others are on the road for weeks at a time.
An Expediter can operate with a cargo van, sprinter, step van, straight truck or tractor trailer. A Hot Shot is a Dually and trailer.
Read more about the difference between hotshot and expediter insurance here.
Premiums vary WIDELY from state to state.
Obvious factors like the following come into play.
Read our list of 10 tips to reduce your premiums.
Have your drivers license and VIN number ready to get a fast commercial auto quote on your cargo van or sprinter.
The ladies at CIS love to chat, have many contacts and can give you a lot of free advice on which direction to go.
Michigan Owner Operators are required to carry PIP, which inflates their truck insurance rate. PIP is Personal Injury Protection that an Owner Operator purchases as
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We shop with multiple transportation insurance companies so whether you’re a new start up, owner operator or an established motor carrier, we have a competitive insurance package for you.
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