Higginbotham truck insurance
© Higginbotham.com

Higginbotham Insurance Review

The Higginbotham insurance agency’s 75+ years in the industry and commitment to excellence make them one of the leading commercial and fleet gap insurance providers in the country. The company has over 80 offices in 16 states.

Higginbotham Commercial Vehicle Insurance

Higginbotham’s family-friendly values allow commercial organizations to drive with confidence. Seasoned auto insurance professionals talk to each business owner to tailor coverage to their specific needs.

Semi-trucks and owner-operators can secure transportation and fleet insurance policies from Higginbotham for any fleet size:

  • 2 – 10 units
  • 10 – 500 units
  • 500+ units

Policies are written to match each fleet’s needs. Small fleets with 2 – 10 units have guaranteed cost-basis insurance, while larger fleets will have their historical data analyzed by the insurer.

Based on the data analysis, a policy is underwritten to match the fleet’s risk tolerance.

Coverage Options

Fleets and owner operators rely on Higginbotham Insurance to protect them on the road. The insurance coverage available falls into multiple categories:

Commercial General Liability

General liability insurance is a form of insurance that every business should have. The policy coverage will include protection for transportation-related accidents but can also include:

  • Bodily injury
  • Third-party property damage
  • Libel
  • More

Motor Carrier Liability

Motor carrier coverage protects against injuries and damages that your fleet causes to other people. If you’re in an accident, this form of liability coverage protects you against lawsuits. This is a required coverage for most carriers.

FMCSA minimum insurance must be met, and this is based on the type of operation you run. For example, freight brokers will need $75,000 in coverage, while a forwarder needs $750,000 – $5 million, depending on how hazardous the materials are. Non-hazardous freight needs $300,000.

The Higginbotham Insurance agency will help you determine the adequate amount of insurance for your operations.

Motor Truck Cargo

Motor truck cargo is a necessity if you want to minimize the risk of liability in an accident. If your trailer is loaded with goods and an accident damages them, this coverage will cover the cost of the loss or replacement.

Coverage is for any time that your goods are in your possession.

For example, loss or damage can occur during:

  • Care of the goods in your warehouse
  • Transportation of the goods
  • Etc.

Cover includes incidents relating to accidents, fire and theft.

Non-Trucking Use Liability

Also known as bobtail coverage, this insurance protects owner operators who lease to motor carriers. If an accident isn’t covered by motor carrier liability, it will fall under non-trucking use. This insurance may cover:

  • Personal injury
  • Medical payments
  • Third-party property damage and bodily injury
  • Uninsured or underinsured coverage

Occupational Accident Insurance

Independent owner operators may need occupational accident insurance. If you’re injured in a work-related accident, this insurance will cover:

  • Income loss relating to the accident
  • Medical bills

Note: If you need workers’ compensation, occupational accident insurance does not replace it. Instead, the insurance will be an additional coverage.

Physical Damage

Equipment and rig damage can cause you significant losses. Physical damage adds protection for your:

  • Semi-truck
  • Equipment
  • Trailer

If you want to keep the wheels rolling and earn money, physical damage insurance is a must-have. Coverage extends to damage caused in/by:

  • Accidents
  • Fire
  • Theft

Even vandalism is covered under physical damage insurance. Physical damage may not cover all damages, and in this case, you’ll need gap insurance for semi trucks.

Workers’ Compensation

Your fleet may or may not be required to have workers’ compensation, depending on the state that you operate in and the number of employees that you have. Workers’ comp is a no-fault insurance that protects businesses and employees by covering:

  • Lost wages
  • Medical bills

Motor carriers are protected from legal settlements and fees thanks to workers’ comp. However, it must be proven that the injury is a direct result of an on-the-job injury.

Umbrella Excess Liability

Fleet gap insurance may not be available by Higginbotham, but umbrella excess liability insurance adds the layers of protection motor carriers need to protect against catastrophic losses.

These policies cover:

  • Legal fees
  • Settlements

Higginbotham’s insurance brokers will work with you to better understand your operations and needs to tailor a policy to lower your liability risks. With 300+ years of combined experience in the industry, you’ll find insurance options with competitive rates and flexible payment options.

The insurer offers the “Higginbotham difference,” which is offered through its Day Two Services®. Policyholders will gain access to a risk management team that will help you analyze your risk tolerance and vulnerabilities in your operation.

You’ll work closely with your team to develop a plan that works for your fleet.

Customized insurance services help you minimize your risks and provide peace of mind that when you’re on the road, your liabilities are minimal.