How to Audit Your Trucking Insurance Policy: 10 Questions to Ask Your Agent
Running a trucking company is hard enough. The last thing you want is to find out after a claim that your commercial trucking insurance policy doesn’t cover what you thought it did.
An annual insurance audit isn’t about nitpicking paperwork. It’s about protecting your trucks, your drivers, your cargo, and your business from financial risk. Whether you’re an owner-operator or managing a multi-state fleet, reviewing your truck insurance coverage, motor carrier insurance, and policy limits can uncover costly gaps.
This guide walks you through 10 smart questions to ask your agent so you can confidently audit your commercial truck insurance policy.
Why Auditing Your Trucking Insurance Policy Matters
The trucking industry changes fast. Freight rates shift. Equipment values rise. Regulations evolve. If your insurance hasn’t kept up, your risk exposure may be higher than you think.
An insurance audit helps you:
- Identify coverage gaps
- Ensure compliance with FMCSA insurance requirements
- Confirm proper limits for liability and cargo
- Avoid overpaying for unnecessary coverage
- Protect against nuclear verdicts and high-dollar claims
- Align coverage with your current operations
A strong commercial trucking insurance program should evolve as your business grows.
Now let’s get into the 10 questions that matter most.
1. Do My Liability Limits Reflect Today’s Risk Environment?
Primary auto liability is the backbone of any commercial truck insurance policy. Federal minimums (often $750,000) may technically satisfy compliance, but they may not protect your business in a severe accident.
Ask your agent:
- Is $1M enough in today’s litigation environment?
- Should I consider excess or umbrella coverage?
- What are similar carriers carrying for limits?
Large verdicts in trucking accidents have increased significantly over the last decade. If your policy limits haven’t changed in years, that’s a red flag.
2. Are My Trucks Insured for Their True Replacement Value?
Equipment values fluctuate. If you’ve added new trucks or upgraded equipment, your physical damage coverage needs to reflect actual cash value (ACV) or agreed value properly.
Ask:
- Are my insured values current?
- Am I covered for replacement cost or ACV?
- What deductible makes financial sense?
Underinsuring equipment can create serious financial strain after a total loss.
3. Is My Cargo Coverage Sufficient for What I Haul?
Not all cargo is created equal.
If you haul refrigerated, hazardous, high-value, or specialized freight, your motor truck cargo insurance must match your commodity exposure.
Ask:
- What commodities are excluded?
- Are there theft sublimits?
- Is there a refrigeration breakdown exclusion?
- Does my cargo limit match my highest load value?
If you haul temperature-controlled freight, review exclusions carefully. Cargo claims can quickly exceed $100,000.
4. Do I Have the Right Coverage for Downtime?
When a truck is down, revenue stops.
Ask your agent about:
- Rental reimbursement coverage
- Downtime coverage
- Towing and roadside assistance
- Loss of use protection
Many trucking businesses underestimate how costly even a 10-day shutdown can be.
5. Are All Drivers Properly Scheduled and Vetted?
Unscheduled drivers or poor MVR histories can create claim denials.
Ask:
- Are all active drivers listed?
- What are my driver qualification requirements?
- How do accidents affect my premiums?
- Should we implement a formal driver safety program?
Insurance carriers evaluate driver risk profiles closely. A proactive safety culture can reduce your commercial trucking insurance premiums over time.
6. Does My Policy Reflect My Operating Radius?
If you expand into new states or increase your operating radius, your policy must reflect that change.
Ask:
- Is my policy rated for interstate or intrastate operations?
- Am I covered in all states where I operate?
- Have I updated my garaging locations?
Incorrect operating classifications can result in pricing errors or coverage complications.
7. Do I Have Proper General Liability Coverage?
Auto liability covers accidents on the road—but what about incidents at loading docks, offices, or customer locations?
Ask:
- Do I have standalone general liability?
- What are my limits?
- Are there contractual requirements from brokers or shippers?
General liability is often overlooked but can protect against slip-and-fall incidents and non-auto exposures.
8. What Exclusions Should I Be Most Concerned About?
Every policy contains exclusions. The key is knowing which ones apply to your operation.
Common areas to review:
- Employee exclusions
- Independent contractor classifications
- Hazardous material exclusions
- Unattended vehicle theft exclusions
- Trailer interchange restrictions
Ask your agent to walk through the major exclusions in plain English. If you don’t understand something, push for clarity.
9. Is My Trailer and Non-Owned Equipment Properly Covered?
If you pull trailers you don’t own, you may need:
- Trailer interchange insurance
- Non-owned trailer coverage
- Bailee coverage
Misunderstanding trailer responsibility can result in large out-of-pocket losses.
Ask:
- Who is responsible under contract?
- Does my policy match my trailer agreements?
10. What Am I Doing to Control My Long-Term Insurance Costs?
Insurance pricing isn’t random. Carriers look at:
- Loss history
- Driver performance
- CSA scores
- Safety programs
- Claims management
Ask your agent:
- What is driving my current premium?
- How can I lower my risk profile?
- Should I consider higher deductibles?
- Would telematics help?
A proactive approach can significantly reduce commercial trucking insurance costs over time.
Bonus: When Was My Last Full Policy Review?
If your agent hasn’t scheduled a structured annual review, that’s a missed opportunity.
A proper review should include:
- Coverage comparison year-over-year
- Exposure analysis
- Claims review
- Market benchmarking
- Compliance check
Your insurance policy should grow with your fleet not lag behind it.
Final Thoughts
Auditing your commercial trucking insurance policy doesn’t require legal expertise. It requires asking the right questions.
The goal isn’t just to save money. It’s to protect your business from catastrophic loss, regulatory trouble, and unnecessary financial strain.
A knowledgeable trucking insurance partner should welcome these questions—and be prepared with clear answers.
If you haven’t reviewed your coverage in the past 12 months, now is the time.
Cook Insurance Group: Your Partner in Trucking Insurance
With over 20 years of experience in the trucking insurance industry, Cook Insurance Group offers unparalleled service and expertise. Serving large fleets, small fleets, single-owner operators, tow trucking operations, and charter bus lines, we focus exclusively on the trucking industry to provide the best insurance solutions. Our friendly, bilingual staff is dedicated to helping you find the right insurance protection at the right cost.
At Cook Insurance Group, we tailor our services to meet the specific needs of both small and large fleet trucking companies. Our representatives manage every aspect of your insurance program, ensuring you have the best plan for your unique needs. We offer immediate certificate and ID card issuance, 24/7 certificate availability, and a client portal for easy access to certificates, claim status, and policy details.
Our prompt and reliable service includes 24-hour claims reporting for physical damage and motor truck cargo.We also provide educational seminars for management and drivers, licensed risk managers to assist with CSA scores and driver training, border risk coverage (NAFTA), and mid-year loss run reviews. Whether you are located in Texas, Arizona, or Arkansas, choose Cook Insurance Group for all your trucking insurance needs.
Choose Cook Insurance Group for all of your trucking insurance needs whether you are located in Texas, Arizona or Arkansas.
