If you use a dump truck to transport aggregate or asphalt or to remove construction materials, trash, or snow and ice, you need dump truck insurance, and depending on what you’re hauling, you may need specialized commercial vehicle insurance. The good news is that dump truck insurance exists and it’s easier than ever to find competitive and even affordable dump truck insurance quotes. Here’s what you need to know before you go shopping.
What is dump truck insurance?
Dump truck insurance is generally available for standard dump trucks, transfer dump trucks, gravel trucks, six or ten wheelers, super dump trucks, and virtually any heavy truck with a bed that tilts back to dump loose material. Since your dump truck is classified as a heavy-duty commercial vehicle, it is capable of doing quite a bit of damage to anything it hits or tips over. That is why there is a special insurance for commercial vehicles that covers it.
Factors to consider if you buy dump truck insurance
Any insurance company that provides you with a dump truck insurance quote will take into account several factors in arriving at your premium. These will include the dump truck itself, what you are hauling, where you are hauling it, the driving records of whoever is driving your dump truck, and sometimes personal items that you or your drivers may carry in the cab. The longer you have been operating the type of dump truck you want to insure, the more likely you are to find affordable dump truck insurance. And don’t try to fake your dump truck insurance questionnaire. Lying or simply forgetting to include vital information can result in a canceled policy or a large increase in your dump truck insurance premium.
Keep in mind that transporting hazardous materials such as volatile chemicals or explosives will increase your dump truck insurance premiums. And if you’re hauling aggregates, you probably need sand and gravel haulers insurance, too.
Dump truck drivers are often required to submit a Statement of Financial Responsibility (also known as Proof of Financial Responsibility). This is proof that you have enough dump truck liability insurance and protects you and other drivers from high-risk situations like transporting hazardous materials or driving a really big truck.
Your basic required dump truck insurance will include liability and physical damage coverage. You may also want to look into optional dump truck insurance coverage, such as downtime rental reimbursement. This will pay for the rental of another dump truck if yours is stolen or stops working.
