Truck Insurance Costs Bobtail, Physical Damage Explained #truckingjobs #truckinginsurance
In this segment, Hunter Nelson breaks down the typical out‑of‑pocket costs for a truck owner’s insurance portfolio. Using a $100,000 truck as an example, he explains that physical damage coverage is often priced at about 5% of the truck’s value (≈$5,000 annually). Bobtail or non‑trucking liability, which protects the driver when the truck is not under dispatch, is a low‑cost add‑on at roughly $40–$50 per month (≈$500 per year). Adding these together results in about $5,500 in mandatory coverage costs. Nelson also notes that cargo insurance typically runs around $1,100 per truck per year. He emphasizes that owners usually carry both physical damage and bobtail coverage because they own the truck most of the time and need protection both while hauling and when operating without a load.
