Dump Trailer Insurance: Cost & Quotes From $11

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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. 

Do You Need Insurance on a Dump Trailer?

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 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.

Policies Included in Dump Trailer Insurance

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

Dump Trailer Auto Liability Insurance

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.

Dump Trailer General Liability Insurance

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 Trailer Cargo Insurance

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.

Dump Trailer Physical Damage Insurance

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

Non-trucking liability 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.

Loan or Lease Gap Coverage

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.

Truck Rental Reimbursement Coverage

You can rent a replacement dump truck and dump trailer and receive compensation for a major portion of the rental cost if you have truck rental reimbursement coverage.

Dump Trailer Rental Insurance

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.

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Dump Trailer Rental Insurance Cost

The best way to know how much insurance for rental dump trailer costs is to speak with your insurance broker. Owner-operators, for-hire-truckers, and companies can expect to pay $2,000 a year or 166.66 a month for insuring a single dump trailer. One factor that determines cost is the physical size of the dump trailer - the bigger it is the higher the premiums.

Dump Trailer Insurance Cost

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.

For further reference, here’s a table showing the pricing of the best dump trailer insurance companies.

Factors Affecting Dump Trailer Insurance Cost

In essence, dump trailer business insurance will vary between brokers or carriers as numerous factors affect the pricing such as:

Vehicle-based factors

• Safety driving devices on the dump trailer

• Brand of dump trailer

• Age and condition of the dump trailer

• Value of the vehicle itself

Usage-based factors

• Distance traveled

• Weight of materials transported

• Dump trailer driver's driving record

 

Best Dump Trailer Insurance Companies

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.

 

CoverWallet Dump Trailer Insurance

Pros

• 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

Cons

• 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

Our rating: 10/10

 

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Geico Dump Trailer Insurance

Pros

• Simple application process

• Multiple coverage options for dump trailer owners

• A wide network of agents and representatives to help

Cons

• 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

Our rating: 9/10

 

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Progressive Dump Trailer Insurance

Pros

• Competitive risk-adjusted rates especially are for high-risk operations.

• Simple application and quotation process

Cons

• 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

Our rating: 10/10

 

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Travelers Dump Trailer Insurance

Pros

• Many dump trailer specific insurance products

• Targeted products make it easy to meet insurance requirements

• The online claims process is simple and efficient

Cons

• 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

Our rating: 8/10

 

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The Hartford Dump Trailer Insurance

Pros

• Many dump trailer specific insurance products

• Nationwide coverage with a wide network of agents

• A wide range of commercial dump trailer fleet insurance products

Cons

• 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

Our rating: 7/10

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Research Your Dump Trailer Business Insurance Options 

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.