Owner-Operator Truck Insurance
What is owner-operator truck insurance?
Independent truckers and contract drivers are hustling to meet record-setting demands for freight hauling. But with expanding opportunities come growing risks, including the potential for work-related injuries not covered by traditional Workers’ Compensation insurance. For independent owner-operators, a loss of income due to injury and even a short-term disability could be disastrous.
Occupational Accident Insurance for trucking answers this need, providing owner-operators and independent drivers with insurance coverage protecting them against lost income and related expenses if they are injured on the job.
How does Occupational Accident Insurance for trucking work?
Zurich Occupational Accident Insurance for trucking is available for trucking owner-operators through the companies hiring them. This insurance provides owner-operators and independent truck drivers coverage for medical expenses and disability income (lost wages) if a driver is injured while working — just as Workers’ Compensation insurance would for a full-time, paid employee.
Why choose Zurich for Occupational Accident Insurance for trucking?
In addition to providing a broad range of accident and disability insurance for independent truckers and owner-operators, Zurich Occupational Accident Insurance for trucking also delivers coverage enhancements not widely available, such as truck payment coverage if an injured driver is unable to work and is struggling to make loan payments.
In addition, Zurich’s program also provides related commercial truck insurance coverages, including Non-trucking Liability and coverage for physical damage to the truck, as well as Passenger Accident insurance.
Why Zurich?
Expertise
We’ve provided Occupational Accident solutions since 1997, and our customer retention rates exceeded 90% in 2018.2 Our underwriters have extensive knowledge of state regulations regarding independent contractors in trucking.
Flexibility
We customize coverages for the needs and budgets of independent contractors, and we simplify the solutions for the platform that sponsors the offering. Coverages can be structured in a variety of ways with enhancements available.
Claims service
Our in-house Claims team, dedicated to Occupational Accident and Contingent Liability lines, averages over 20 years’ experience.3 Zurich’s claims service earns “Best in Class” scores from our customers.4
Trucking Insurance Solutions
Our occupational accident insurance for owner-operators is available for trucking owner-operators through the companies that hire them to drive.
Insurance for independent truck drivers
Coverages for independent drivers include:
- Occupational accident: Pays medical expenses and disability income if the driver is injured while working.
- Physical damage: Provides collision and comprehensive coverage when a truck is damaged in an accident, theft, fire, hail or other hazards of the open road.
- Non-trucking liability: Designed to close coverage gaps that may arise when a contractor uses the truck for non-work activities.
- Passenger accident: Provides accident benefits for passengers in a covered contractor’s truck.
Available enhancements include:
- Truck payment coverage: Helps truck drivers meet financing obligations if an injury prevents them from working.
- Vocational retraining: If a trucker cannot return to driving after an injury.
- Critical burn: Because the risk of severe burns is high in trucking.
- Non-medical repatriation and return of remains: If an accident extends a driver’s time away from home or results in death.
Insurance for owner-operators and independent contractors fact sheet
Occupational Accident optional coverage enhancements fact sheet
Insurance for trucking companies
Companies that choose Zurich’s Occupational Accident coverage for their drivers also have the following options.
- Contingent liability: Offers companies legal defense and workers’ compensation settlement/benefit costs if a covered contractor seeks employment status for purposes of receiving workers’ compensation.
- Corporate workers’ compensation: Statutory workers’ compensation policy issued to a company to cover employee injuries and events outlined in state law. Generally provides coverage for medical bills and lost wages for employees who are injured on the job regardless of fault.
- Fleet workers compensation: Statutory workers’ compensation policy issued to an eligible trucking fleet owner contracted exclusively to an approved motor carrier.
- Accidental death and dismemberment buy-back: For transportation companies that self-insure, provides protection for their statutory workers’ compensation deductible by reimbursing for workers’ compensation AD&D claims.
Want to learn more?
Connect with our Customer Inquiry Center for more information.
Related industry and insurance
1. Bearth, D. P. “Carriers, shippers working to meet demand for freight hauling.” Transport Topics. 19 April 2018. https://www.ttnews.com/articles/carriers-shippers-scramble-meet-demand-freight-hauling
2. Zurich bound 94% of the renewals that were quoted in 2018.
3. Based on insurance industry experience handling claims as of October 2019.
4. Zurich Closed Claims Net Promoter Score: 83 (January 2017-June 2019). “Best in Class” NPS threshold for insurance industry: 51 (2019). Source: Medallia.