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GENERAL INSURANCE

Boston Owner Operator Insurance

Owner operator insurance is a type of insurance designed for independent truck drivers who own and operate their own vehicles. It typically includes coverage for liability, physical damage, and other specific risks associated with the trucking industry. Several insurance agencies in Massachusetts, including First American Insurance, Metro Boston Insurance Agency, and Paul Murphy Insurance, offer owner operator insurance and related trucking insurance products. 

Additionally, commercial truck insurance agents in Boston, MA, can provide quotes and compete for policies. Northland Insurance is another provider that offers owner-operator insurance products and services.

what is the average cost of owner operator insurance in boston

The average cost of owner operator insurance in Boston is not readily available online. However, according to Commercial Truck Insurance HQ, the average cost for commercial truck insurance in Massachusetts is $13,792 per year for truckers with one truck operations who need insurance for cargo and physical damage.

The cost of owner operator insurance can vary depending on several factors such as what is being hauled, driving history, and how long the business has been in operation. It is recommended to get quotes from different insurance companies to find the best deal.

what is the difference between minimum coverage and full coverage for owner operator insurance in boston

In Boston, the difference between minimum coverage and full coverage for owner operator insurance is significant. The minimum coverage required by law in Massachusetts includes Bodily Injury Liability limits of at least $20,000 per person and $40,000 per accident, as well as Property Damage Liability of $5,000. This is often referred to as 20/40/5 coverage. 

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On the other hand, full coverage typically includes additional protections such as collision, comprehensive, roadside assistance, and towing. These additional coverages provide more extensive protection for the owner operator and their vehicle, but they also come with higher premiums.

It’s important for owner operators to carefully consider their insurance needs and consult with insurance agents to determine the most suitable coverage for their specific situation.

what are the benefits of full coverage for owner operator insurance in boston

Full coverage for owner operator insurance in Boston offers several benefits to protect the driver, vehicle, and cargo. Some of the key benefits include:

  1. Comprehensive protection: Full coverage includes protection for physical damage to the vehicle, cargo, and other equipment, ensuring that the owner operator’s investment is safeguarded.
  2. Liability coverage: This is the foundation of any owner-operator’s insurance coverage and is required by law. It covers damages and injuries caused to others in an accident, including medical expenses, property damage, and legal fees if sued.
  3. Medical expense coverage: This coverage helps with medical expenses, disability benefits, and accidental death benefits if the owner-operator is injured while working.
  4. Temporary total disability coverage: This coverage may provide lost income if an owner-operator is unable to work for a shorter period of time.
  5. Permanent total disability coverage: This coverage provides long-term financial support if an owner-operator becomes permanently disabled and is unable to work.
  6. Non-trucking liability coverage: This insurance protects the commercial tractor when it is driven for personal use or when no trailer is in tow.
  7. Bobtail insurance: This coverage is essential for leased owner operators and provides protection for their semi when they are not attached to a trailer.
  8. Gap insurance: This coverage helps owner-operators who have taken out loans to finance their business by providing financial protection in case the truck is damaged or lost.
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how does full coverage for owner operator insurance in boston protect against lawsuits

Full coverage for owner operator insurance in Boston protects against lawsuits in several ways:

  1. Liability coverage: This is the foundation of any owner-operator’s insurance coverage and is required by law. It covers damages and injuries caused to others in an accident, including medical expenses, property damage, and legal fees if sued.
  2. Commercial general liability (CGL) coverage: CGL coverage is designed to protect your company against third-party claims of property damage, bodily injury, or advertising injuries.
  3. Hired and non-owned auto insurance: This coverage offers liability coverage if you or your employees are involved in an accident with a personal, non-business vehicle3.
  4. Non-trucking liability coverage: This coverage protects your commercial tractor when no trailer is in tow, including when it’s being driven for personal use.
  5. Bobtail insurance: This coverage is essential for leased owner operators and provides protection for their semi when they are not attached to a trailer

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