How Much Does Dump Truck Insurance Cost?

Who Needs Dump Truck Insurance?

Whether you have one dump truck or a fleet, it’s vital that you have insurance for your commercial truck. Commercial dump truck insurance is necessary for:

  • Motor carriers who use dump trucks
  • For-hire dump truck drivers
  • Independent dump truck owners and operators.
    The fact is, if you work with a dump truck in any capacity, you need insurance for your commercial vehicle. The type of insurance and the amount of coverage you need will change based on a variety of factors.   
  • Types of materials being hauled
  • Distances materials are hauled
  • Driving records of the dump truck operators
    Forerunner Insurance Group also takes into accounts the dump truck itself when creating commercial truck insurance quotes. This includes aspects like:
  • Value of the dump truck itself
  • Type of dump truck (2, 3, or 4 axle vehicles)
  • Age and condition of the vehicle

Dump trucks are an investment. The average purchase price for a new dump truck ranges between $100,000 to $150,000. These prices reflect the various sizes and capabilities of each particular dump truck model. With this in mind, commercial truck insurance costs vary as well. The cost of insurance for your dump truck is dependant on factors like:

The only way to know exactly how much dump truck insurance will cost you is to speak to an agent directly. But how can you be sure that your agent is giving you the very best price?

The average cost of commercial dump truck insurance

Owner operators can expect to pay anywhere between $2500 and $8000 for commercial insurance on a single dump truck.

Where you fall within this range depends on factors like what materials you haul, how far you haul them, and what your driving record looks like. But mostly, the cost of your dump truck insurance will be reflected in how large your truck is physically. Larger trucks can cause more damage and are therefore more expensive to insure.

One of the biggest factors in operating commercial trucks like dump trucks is managing insurance. At Forerunner Insurance Group, we’ve assembled a team of experts that specialize in long haul and local trucking insurance. We work to provide you with the best coverage and carriers in the state. Let us take the stress out of filing for commercial trucking insurance, and help you write the properly structured policy to keep you and your trucks on the road. Contact us today for a free quote, and get immediate answers to any of your commercial truck insurance questions you have.

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