For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Dump trailers are dangerous machines. They’re costly to maintain too. And if you own a unit or a whole fleet, consider getting dump trailer insurance. Read this guide to know why do you need insurance for dump trailer, what is dump trailer insurance, how much it costs, and more.
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Commercial trucking is a capital-intensive business and that’s why it will never do if there are no countermeasures against risks. Owner-operators or truckers of dump trailers-just like owners of tractor trailers-might encounter accidents, lawsuits, and equipment damage - situations that require money to resolve.
You do need insurance for a dump trailer . As an owner, there's peace of mind and security that comes with knowing you're protected. Dump trailer insurance will cover the risks you might face now or in the future.
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Owning and driving a dump trailer has its risks. That's why you need the coverages that apply in your line of work. These include:
Auto liability
General liability
Cargo insurance
Pollution coverage
Non-trucking liability
Personal injury coverage
Loan or lease gap
Truck rental reimbursement
Accidents might happen on the road and you might injure someone. If your dump trailer caused the accident, auto liability coverage can assist you in paying any legal obligations. Auto liability insurance is a state-required coverage that every dump trailer must have.
Auto liability insurance for dump trailers includes bodily injury and property damage liability. Bodily injury liability will compensate for the pain and suffering of third parties. On the other hand, property damage liability will help you pay for the damages to the third parties' property.
General liability insurance is a dump trailer rental business insurance and dump trailer business insurance policy. It will cover you for bodily injury and property damage caused by your dump trailer to other individuals or their property while it lies stationary in the terminal.
Dump trailers are also useful for transporting high-value commodities. If this applies you, consider getting dump trailer rental business insurance or dump trailer business insurance to cover cargo. If you're moving a shipment and are involved in an accident, you may be liable to compensate the client for the cargo's loss. Cargo insurance can help safeguard your cargo from damages resulting from collisions, theft, and fire.
Does a dump trailer need insurance for physical damage? Absolutely , using your own money to pay for repairs can be so expensive. Since liability insurance won't cover damages to your dump trailer, getting a physical damage cover helps you get back on the road without paying too much for a mechanic’s service.
Note that physical damage coverage is included in collision insurance and comprehensive insurance.
Collision insurance will pay for the repair service of your vehicle if it got involved in a road crash, while comprehensive insurance will fix any damage to the dump trailer as caused by flood, storm, vandalism, theft, arson, and other named perils.
Non-trucking liability insurance covers accidents that happen when a dump trailer is used by the driver for personal errands.
If you're at fault in an accident but weren't on the clock, this policy can assist in covering the responsibility to pay for the losses or damages of third parties.
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If your dump trailer depreciates faster than its contracted value, loan or lease gap coverage can help ensure that you do not end up with a net loss on your loan or lease.
You can rent a replacement dump truck and dump trailer and receive compensation for a major portion of the rental cost if you have equipment rental reimbursement coverage.
Those renting our dump trailers for money must get coverage through dump trailer insurance. Policies included are general liability insurance with products and completed operations coverage, equipment breakdown coverage, inland marine insurance, and commercial auto insurance.
The best way to know how much insurance for rental dump trailer costs is to speak with your insurance broker or get quotes online. Expect to pay $2,000 a year or 166.66 a month for insuring a single dump trailer with tailored rental coverage. One factor that determines cost is the physical size of the dump trailer - the bigger it is the higher the premiums.
The average dump trailer insurance cost in the United States is $140 a month or $1,680 a year for a $1 million general liability insurance.
But still, we can also determine the pricing based on the specific policies included. And so, here's a table showing the cost of dump trailer insurance policies.
| | Cost per Month | Cost per Year |
|---|---|---|
| Commercial auto | $200 | $2,400 |
| General liability | $140 | $1,680 |
| Physical damage | $150 | $1,200 |
| Cargo insurance | $150 | $1,800 |
For further reference, here’s a table showing the pricing of the best dump trailer insurance companies.
| | Cost per Month | Cost per Year | Best for |
|---|---|---|---|
| CoverWallet dump trailer insurance | $139 | $1,668 | Dump trailer insurance quote comparison online |
| Geico dump trailer insurance | $152 | $1,824 | Dump trailer commercial auto insurance policies |
| Progressive dump trailer insurance | $206 | $2,472 | Tailored dump trailer insurance for high-risk operations |
| Travelers dump trailer insurance | $214 | $2,568 | Fast dump trailer insurance claims process |
| The Hartford dump trailer insurance | $225 | $2,700 | Dump trailer insurance available in all locations of the US |
In essence, dump trailer business insurance will vary between brokers or carriers as numerous factors affect the pricing such as:
Safety driving devices on the dump trailer
Brand of dump trailer
Age and condition of the dump trailer
Value of the vehicle itself
Distance traveled
Weight of materials transported
Dump trailer driver's driving record
To get good value for money, look at the offers of different insurance companies. The following are the best carriers to start shopping for your dump trailer insurance. Read to know their pros, cons, and monthly pricing for a $1 million general liability coverage.
Assistance available 24/7
Look through multiple competitively priced packages before settling
A wide network of experienced representatives
Online dashboard to manage all your CoverWallet insurances
Third-party insurance provider—no direct underwriting
CoverWallet helps you find the best carrier for your needs by compiling insurance quotes of its partners. With this company, you can get the best dump trailer insurance at the most competitive and stable rates.
Best for: Dump trailer insurance quote comparison online
Average cost: $139 per month
Our rating: 10/10
Simple application process
Multiple coverage options for dump trailer owners
A wide network of agents and representatives to help
Third-party brokerage for some coverages, hence no direct underwriting
Some premiums may be more costly as compared to the market
GEICO is by far one of the oldest and most financially secure insurance companies Damage to your car, injuries to other vehicles or pedestrians, damage to other's property, and injury to the dump trailer driver are all covered by their policies.
Because Geico does not directly underwrite its commercial insurance policies, it is most favorable for businesses looking for commercial auto insurance for dump trailers.
Best for: Dump trailer commercial auto insurance policies
Average cost: $152 per month
Our rating: 7/10
Competitive risk-adjusted rates especially are for high-risk operations.
Simple application and quotation process
Prices for low risk drivers tend to be above market rate
Some negative customer reviews on the claims processes
Unlike Geico, Progressive has insurance products exclusive to dump trailer operators. The company also helps with state and federal filings.
Progressive insurance is preferred by many high-risk operators (e.g., new businesses with no history or businesses with a few claims in the past).
Best for: Tailored dump trailer insurance for high-risk operations
Average cost: $206 per month
Our rating: 9/10
Many dump trailer specific insurance products
Targeted products make it easy to meet insurance requirements
The online claims process is simple and efficient
You need to talk to an agent to get a dump trailer insurance quote
Traveler's doesn't allow you to do all policy management activities
Travelers is one of the biggest auto insurers in the US, it is rated A by the Better Business Bureau and rated A++ by AM Best—the highest possible for financial strength. Getting such a high rating when serving over 43 states means they pay out claims on time and have excellent customer service. Travelers covers everything, from general liability to loan or lease gap.
Best for: Fast dump trailer insurance claims process
Average cost: $214 per month
Our rating: 7/10
Many dump trailer specific insurance products
Nationwide coverage with a wide network of agents
A wide range of commercial dump trailer fleet insurance products
Few options for single unit companies
High premiums for young and inexperienced drivers
With experience spanning over two centuries, The Hartford is preferred by high-risk drivers and commercial dump trailer fleets. It provides many commercial insurance products like worker's compensation, umbrella liability coverage, business property coverage, and excess liability coverage. Providing its service in all states, The Hartford is what dump trailer rentals and high-risk drivers will find favorable.
Best for: Dump trailer insurance available in all locations of the US
Average cost: $225 per month
Our rating: 6/10
Do you need insurance for a dump trailer? Yes, and the best way to get the best coverage is by checking out the offers of many carriers. Compare the offers of different insurance companies using our free quote generator. Click the “Get Quotes” button to start.
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