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Hot Shot Insurance for Trucking: Cost & Quotes From $11

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Table of contents

1. What is a Hot Shot Service? 2. Hot Shot Trucking Definition: What is Hot Shotting? 2.1. What’s Hot Shot Trucking: Hot Shots Meaning According to Vehicle Used 2.2. What is Hot Shot Trucking: Definition According to the Type of Load 2.3. Hotshot Trucking Meaning: Hot Shot Trucking Can Also be a Side Gig Trucking Service 3. What is a Hot Shot Load in Trucking? 4. How Does Hot Shot Work? 5. What are Hot Shot Drivers? 5.1. What is Hotshot Driving? 5.2. Do You Need a CDL to Hotshot? 6. What is a Hot Shot Truck? 6.1. What is a Van Hotshot? 7. How to Hot Shot a Car? 8. What is a Hot Shot Business? 9. Hot Shot Insurance 10. Hot Shot Driver Insurance 10.1. General Liability for Hot Shot Trucking Drivers 10.2. Professional Liability Insurance for Hot Shot Driver 10.3. Hot Shot Drivers Loss of Income Coverage 10.4. CDL Insurance for Hot Shot Drivers 10.5. Non CDL Hot Shot Insurance 11. Hot Shot Truck Insurance 11.1. Hot Shot Pick Up Truck Auto Liability Insurance 11.2. Physical Damage Coverage for Hot Shot Pickup Truck  12. Insurance for Hot Shot Business 12.1. General Liability Insurance for Hotshot Company 12.2. Hot Shot Company Commercial Property Insurance  12.3. Hot Shot Trucking Company Workers Comp Insurance 12.4. Warehouse Keepers Liability and Storage Liability Insurance for Hot Shot Companies 13. Hot Shot Load Insurance 14. Hot Shot Brokers Insurance 14.1. General Liability Insurance for Hot Shot Brokers 14.2. Professional Liability Insurance for Hot Shot Brokers 14.3. Contingent Auto Liability Insurance for Hot Shot Brokers  14.4. How to Become a Hot Shot Broker? 14.5. Whats a BOC 3? 15. Hotshot Trucking Requirements  16. Hotshot Insurance Requirements for Hot Shot Trucking Companies 17. How Much Does Hot Shot Insurance Cost? 17.1. How Much is Hot Shot Insurance for Hot Shot Trucking Companies? 17.2. How Much is Hotshot Insurance for Hot Shot Trucking Drivers? 17.3. How Much Does Hotshot Pickup Truck Insurance Cost?17.4. How Much is Hot Shot Insurance for Hot Shot Load Brokers? 18. 19. Get Hot Shot Trucking Insurance Quotes for Free! 20. Best Hot Shot Trucking Insurance Companies 20.1. CoverWallet Hot Shot Insurance 20.1.1. Pros 20.1.2. Cons 20.2. 20.3. Thimble Insurance 20.3.1. Pros 20.3.2. Cons 20.4. 20.5. Geico Insurance 20.5.1. Pros  20.5.2. Cons 20.6. 20.7. Progressive Hotshot Insurance 20.7.1. Pros 20.7.2. Cons 20.8. 20.9. OOIDA Hot Shot Insurance 20.9.1. Pros 20.9.2. Cons 20.10. 20.11. Colonial Hot Shot Insurance 20.11.1. Pros 20.11.2. Cons 21. How Much Do Hotshot Drivers Make? 21.1. What Do I Need to be a Hotshot Driver? 21.2. Non CDL Hot Shot Trucking Requirements 21.3. What CDL Do I Need for Hotshot Trucking? 22. 23. How to Start Your Own Hot Shot Business?

Many businesses rely on the timely delivery of goods. And what these businesses dread most is when goods get stuck in the inventory because of the shipper’s delays. Luckily, a hotshot trucker or hot shot trucking company is always to the rescue.


Carriers offer insurance for hotshot trucks, hot shot hauling companies, and hot shot trucks drivers. Read this guide to know how much does hot shot insurance cost, what is hot shot insurance, and where to get cheap hot shot insurance. 

What is a Hot Shot Service?

Hot shot service pertains to the different activities associated with the hot shot trucking industry. Therefore, if asked what is hot shot service or what is hot shot services, experts will talk about hot shot broker service, hot shot shipping service, hot shot driving service, and so on. 


Hot Shot Trucking Definition: What is Hot Shotting?

So what is hot shot trucking? There are many hotshotting definition as to whats hotshot trucking or what is hot shot hauling. Experts have their own interpretation of what it is. And so, we’ll give you all definitions from expert sources. 


What’s Hot Shot Trucking: Hot Shots Meaning According to Vehicle Used

Most define hotshot trucking as a type of shipping service carried out by using class three, class four, or class five vehicles attached with a flatbed trailer. This definition denotes that hot shot trucking or hotshot towing  is a type of shipping completed through light to medium-duty vehicles with a flatbed trailer. 


What is Hot Shot Trucking: Definition According to the Type of Load

Others’ answer to whats hot shot trucking is that it’s the shipping of LTL loads within a very limited time frame. According to this hotshot definition, hot shotting is all about the delivery of LTL loads in a fast and timely manner.


Hotshot Trucking Meaning: Hot Shot Trucking Can Also be a Side Gig Trucking Service

Others simply define hot shot trucking as a type of side gig trucking service for amateur or experienced drivers owning class three, four, or five hot shot truck and trailer. This hot shot trucking meaning states that hot shot hauling is a part-time trucking service.  


What is a Hot Shot Load in Trucking?

We mentioned the term “LTL loads” in our discussion about what is hot shot hauling . > So what are LTL loads anyway? In hotshot definition, LTL stands for “less than a truckload”. According to hot shot load brokers, LTLs are basically small cargo or freight that can’t fully occupy the trailer of a semi-truck. 


Those familiar with hot shot trucks or hot shot truck sometimes call LTL loads hotshot freight. Still, note that in plain hot shot definition, hotshot freight is different from regular freight. 


How Does Hot Shot Work?

Aside from knowing what is hotshot hauling or hot shot trucking, it’s also important to understand how things work to easily recognize possible risks. 


If you’re wondering how does hot shot trucking work, then here’s a simple explanation. In hot shot trucking, owner-operators or hot shot companies prioritize the shipping of small batches of freight or cargo which needs to be delivered immediately. Also, deliveries are completed within tight deadlines. For example, standard shipping usually completes deliveries within 3 - 5 days. On the other hand,  hot shot trucking completes deliveries within 1-3 days only. 


What are Hot Shot Drivers?

Aside from what is hotshotting, let's talk about what’s a shot driver. Individuals working as a hot shot hauler are either independent drivers holding a standard license or shipping company drivers owning a hotshot truck, hotshot pickup truck, or any other related vehicles. Hotshot drivers can also be amateur drivers owning other types of  registered hot shot vehicle and want to make extra money through hot shot towing. 


To make it easier to understand, hot shot drivers are either trucking hot shot owner-operator freelancers, independent drivers, or operators working for companies that offer hot shot pickup services. 


Image What is Hotshot Driving?

So what is hotshot driving? Hotshot driving refers to the provision of scheduled and quick delivery services to businesses that need small freight or cargo to be moved. 


Image Do You Need a CDL to Hotshot?

If you’re thinking about getting involved in hot shot trucking right now, you’re probably asking “ do you need cdl for hotshot ?”. The answer to this is both a yes and a no. 


If you ask hot shot truckers specializing in shipping heavy loads, “do i need a cdl to hotshot?”, they will tell you yes. Hotshot trucking heavy loads always require a CDL to ensure that the driver has the necessary training, experience, and skill. 


On the other hand, if you ask hot shot drivers working on light freight or cargo,” do you have to have a cdl to hotshot?”, they’ll tell you that it’s not required.


What is a Hot Shot Truck?

What’s a hotshot truck? There are also many definitions as to what qualifies as hotshotting trucks or hot shotting vehicles. 


In hot shotting, the type of vehicle to be used for hot shot trucking jobs isn’t an issue. What’s important is that it has the necessary power and torque to pull freight. 


But still, if we really look into things to answer what’s a hot shot truck, we’ll discover that the most common vehicles used for hot shotting are pickup trucks. As a result, specific pickup units are now called hotshot pickup truck - meaning pickup trucks highly suitable for hotshot trucking. Examples are the RAM 3500 BIG HORN, NISSAN TITAN XD, RAM 2500 BIG HORN, and GMC SIERRA 3500. 


Here’s another answer to your question about what is a hot shot truck: Box trucks are sometimes used for hot shotting and are referred to as box truck hot shot. 


Image What is a Van Hotshot?

So what is a hot shot van? Utility vans are sometimes used for hot shot trucking and hot shot drivers call these hot shotting cars or hotshot car. Examples of vans for hot shot trucking are Ford Transit Cargo Van, Mercedes Benz Sprinter Cargo Van, Freightliner Sprinter, and Chevrolet Express Cargo Van.


So which are better for hot shot truck driving jobs? Vans or pickups?  Hot-shot drivers say that pickups are the best hot shot vehicles for hotshot transport jobs involving heavy consumer goods. On the other hand, vans are the ideal hot shot vehicle when the hot shot driver wants comfort and specializes in shipping lightweight goods. 


So to be clear on what is a hotshot truck? Hot shot trucks are usually pickup trucks, box trucks, cargo vans used for shipping LTL loads.  


How to Hot Shot a Car?

Normally, pickup trucks and utility vans are used as hotshot vehicles. But still, you can hot shot a personal car if it has the right power and build. So how to hotshot a car? First, you’ll need a suitable flatbed trailer for it. After that, you must find hot shot trucking brokers or companies that schedule gigs for hot shot car drivers. 


What is a Hot Shot Business?

So what is a hotshot business? A hotshot business is a company hiring hot shot truckers or drivers owning vehicles for hot shot hauling. Moreover, a hot shot trucking business can also own hot shot trucks and employ operators. 


A hotshotting business receives projects and assigns them to a hot shot trucker. So how does it do this? A hot shot business informs hot shot truck drivers about the availability of LTL shipping gigs and creates a schedule when a project is taken. 

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Hot Shot Insurance

Hotshot insurance is a broad term for the protection insurance companies provide to hot shot drivers, hot shot trucks, hot shot brokers, and hot shot companies. And so, hot shot insurance can be classified as:

  • Hotshot trucking insurance for drivers

  • Commercial hot shot insurance for companies or simply hot shot commercial insurance

  • Hot shot trucking insurance for pickups, cargo vans, and other related vehicles

  • Hot shot trucking insurance for brokers




Hot Shot Driver Insurance

So what’s a hotshot driver insurance? Insurance for hot shot trucking drivers is a specialized insurance policy for those operating hot shot pickup trucks or cargo vans.  A typical insurance for hotshot trucking drivers is composed of general liability insurance, professional liability insurance, loss of income coverage, self-employed workers comp insurance, drivers tools and equipment coverage, and legal defense coverage. 


General Liability for Hot Shot Trucking Drivers

Hot shot trucking is fast-paced. Drivers have to make sure each delivery arrives on schedule. Most of the time, delivery deadlines are very tight. And so unlike standard shipping drivers, hot shot trucking drivers don’t have the time to rest and often overexert themselves. The result of this is reckless driving behavior which increases the likelihood of vehicular accidents. 


It’s important to get general liability insurance for hotshot drivers. This is the first liability policy carriers include in their hot shot commercial insurance for drivers.  A basic general liability policy included in commercial insurance for hotshot trucking drivers will help deal with property damage lawsuits and personal injury lawsuits resulting from reckless driving behavior. 


Hot shot drivers can upgrade their basic general liability insurance for more protection. How is this done by the way? Carriers allow the adding of optional policies to general liability insurance for hot shot drivers. Commercial insurance for hot shot trucking drivers offers optional general liability policies such as advertising injury coverage and products and completed operations coverage. 


A hot shot drivers general liability insurance included with advertising injury coverage provides protection from:

  • Defamation lawsuits

  • Libel lawsuits

  • Invasion of privacy lawsuits

  • Slander lawsuits


If included with products and completed operations coverage, hot shot general liability insurance in hotshot commercial insurance for drivers provides protection from:

  • Costs if ever the freight was delivered with damage

  • When the driver caused personal injuries or property damage, and the aggrieved person files a lawsuit a few months or years after the accident happened


So how does general liability insurance for hotshot drivers work? Through this policy, the policyholder can pay for:

  • Victim compensation

  • Lawyer fees and other legal costs


What if the hotshot driver committed a mistake and caused losses? Will general liability provide protection? No, the policy won’t cover costs if this happens. This is the job for another policy included in commercial insurance for hotshot drivers, which is professional liability insurance. 


Professional Liability Insurance for Hot Shot Driver

Hot shot driver’s professional liability insurance will kick in if a hot shot driver committed negligence or mistake at work and is held responsible by the client or the hiring hot shot trucking business for losses. In practice, this hot shot insurance coverage for drivers provides a shield against:

  • Lawsuits due to missed deliveries

  • Freight damage arising from negligence

  • Misrepresentation

  • Breach of contract


Professional liability insurance excludes mistakes caused by drunk driving, reckless driving, and other similar behavior. 


Another thing you need to know is that this policy only covers negligence, mistakes, or errors that are not malicious in nature.  Furthermore, professional liability insurance for hot shot drivers is usually offered as a claims-made policy. Meaning it must be in effect the moment a covered incident occurred for the policyholder to successfully make a claim. 


Hot Shot Drivers Loss of Income Coverage

Hot shot drivers depend on their hot shot trucks, pickups, or cargo vans for money. Imagine how problematic things could be if their units break down or get damaged. Nothing’s the problem if repairing the unit only takes 1-3 days. But what if fixing requires a few months to complete? 


Carriers have already foreseen that hot shot truckers or drivers will lose a lot of income if their units experience issues. That’s why there’s hot shot drivers loss of income coverage available. 


Hotshot truc kers loss of income coverage functions to provide money if a hot shot driver is unable to go to work. In practice, it takes effect when the inability to work is caused by:

  • The hot shot truck is unusable for a few days or months because of engine issues

  • The hot shot truck needs maintenance and has to be left at the service center for a few days or months

  • The hot shot driver experienced a work-related injury and needs to recuperate for a few months or days


Understand that, in case the inability to work is caused by a work-related injury, loss of income coverage for hotshot driver might not shoulder hospital bills. 


So how much money does loss of income coverage give and how long does it last? The amount of money the policyholder can get from their loss of income coverage depends on the figure provided by the carrier. Also, the policy takes effect for 120 days. Understand that after this duration, loss of income coverage will then be canceled. 


CDL Insurance for Hot Shot Drivers

Commercial driving license insurance is a policy that consists of driver’s personal injury coverage, physical damage coverage, and third party bodily injury liability coverage. This insurance will take care of your injuries and the injuries you caused to third parties.  CDL insurance requirements for hot shot trucking are $1 million hotshots auto liability coverage and $1 million physical damage coverage. 


Non CDL Hot Shot Insurance

The policies included in non cdl hotshot insurance are the same as the policies included in cdl hot shot insurance - driver’s personal injury coverage, physical damage coverage, and third-party bodily injury liability coverage. Non cdl hotshot insurance requirements are $1 million auto liability and $1 million physical damage coverage. 





Hot Shot Truck Insurance

Hotshot truck insurance, otherwise called hot shot pick up truck insurance, consists of policies that provide coverage to the hotshot pick up truck and trailer; the hot shot trucking business driver or the hotshot company owns. 


But note that regardless of its name, commercial insurance for pickup trucks for hot shotting can also cover other vehicles used for hot shot trucking such as hotshot cargo vans and cars. That being said, let’s discuss the policies included. 


Hot Shot Pick Up Truck Auto Liability Insurance

Auto liability insurance for hot shot pickup truck functions to cover legal responsibility for third party bodily injuries and property damage if the driver caused an accident while on the way to deliver freight or cargo.  In practice, this type of pickup trucks insurance coverage applies when:

  • The driver rammed someone unintentionally while driving

  • The driver rammed someone’s vehicle while driving

  • The driver rammed into an object along the highway while driving

  • The driver rammed into someone’s personal property (e.g. house, fence, yard, mailbox, gate)  while driving


Understand that auto liability insurance for pickup trucks will only take care of accidents that result from mistakes or negligence. The policy excludes accidents resulting from malicious acts such as drunk driving and road rage. 


Physical Damage Coverage for Hot Shot Pickup Truck 

Hot shot truckers often drive fast and it’s very common for their pickup trucks to experience issues now and then. Resolving such issues can be very costly. This is why carriers include physical damage coverage in their hot shot pick up truck insurance.


In a nutshell, physical damage coverage in hot shot commercial truck insurance will kick in if the pickup truck is damaged by :

  • Fire, 

  • Heavy winds

  • Vandalism

  • Theft


In practice, this hot shot pickup insurance coverage is useful for replacing or repairing windshields, busted headlights or tail lights, windows, hoods, and more. As for the exclusions, physical damage coverage included in commercial pick up truck insurance won’t take care of any damage to the engine. 




Insurance for Hot Shot Business

Carriers offering business insurance solutions also provide coverage for hot shot companies. Insurance for hot shot business typically includes commercial property insurance, workers comp insurance, and general liability insurance.


General Liability Insurance for Hotshot Company

This policy is the liability insurance needed for hot shot trucking company. For a hot shot company, general liability insurance functions to provide protection when a client files a lawsuit because of:

  • Slip and fall accidents within the premises of the hotshot company

  • Goods to be delivered or were delivered got damaged


Aide from the clients, general liability insurance can also cover claims from hot shot driver contractors due to:

  • Damage to the pickup truck due to the poor management of the hotshot trucking company’s parking space or garage

  • Libelous or defamatory remarks of the hot shot trucking company to the contractual hot shot driver 


Hot Shot Company Commercial Property Insurance 

Hot shot trucking companies also need to get their equipment and building covered. This is is why insurance for hot shot companies always includes commercial property insurance.  Common coverages are business property and equipment breakdown coverage. 


Business property coverage in commercial property insurance for hot shot business will provide money if the building, building structures, or building installations were damaged by fire, wind, lightning, hail, theft, or vandalism.


Equipment breakdown coverage, on the other hand, will provide coverage for tools used at work such as computers, electronic load boards, and the like. 


Hot Shot Trucking Company Workers Comp Insurance

Workers comp insurance is easy to understand. In essence, this policy will allow the hot shot trucking company to help employees pay for medical bills and recover lost income after a work-related accident occurred. 


Warehouse Keepers Liability and Storage Liability Insurance for Hot Shot Companies

Warehouse keepers liability insurance or storage liability insurance is a stand-alone policy carriers rarely include in hot shot trucking company insurance.


But still, the effort and investment to get this policy are all worth it. Note that in the event of fire or theft, commercial property insurance won’t provide coverage to the clients’ belongings stored in the hot shot company’s warehouse or storage facility. 


Therefore, if commercial property insurance is the only policy in force, then the hot shot trucking company will have to use its own funds to reimburse the losses of clients.

 

However, the story is different if the hot shot company has a warehouse keeper’s liability or storage liability insurance. Both cover damage to the property of third parties in the custody of the hot shot trucking company and will help reimburse losses if ever clients make a claim. 





Hot Shot Load Insurance

Hotshot load insurance is a policy that provides coverage to the cargo and the hot shot trucking driver or trucking company. This can be classified into two types; hotshot cargo insurance and hot shot commercial freight insurance.


Commercial freight insurance provides coverage to the hot shot trucker or trucking company. In essence, the policy shoulders the responsibility of the policyholder to compensate clients when the freight or cargo got damaged while in transit. 


On the other hand,  cargo insurance for hot shot or simply hot shot cargo insurance covers not only client compensation but also the full value of the client’s goods. Therefore, cargo insurance is more comprehensive than freight insurance.


Note that cargo and freight insurance are absolutely important for hotshot auto transport and other hotshotting services involving expensive items. Moreover, carriers often include these policies in their specialized hot shot car hauler insurance. 


Related: Contingent Cargo Insurance for Freight Brokers




Hot Shot Brokers Insurance

Brokers help to schedule hot shot auto transport jobs and other hot shot hauling jobs. Hot shot freight brokers or cargo brokers also help clients find the best hot shot owner-operator or company. The job of hotshot brokers isn’t easy as there are many tasks to accomplish. Most of all, there are risks to be faced too. 


Insurance for hot shot freight broker is also available. Hotshot broker insurance includes general liability, professional liability, and contingent auto liability insurance policies. Let’s discuss what these hot shot broker insurance coverages are in more detail. 


General Liability Insurance for Hot Shot Brokers

Insurance companies include general liability with advertising injury coverage and products and completed operations coverage in their hot shot hauling insurance for brokers. Through this, the hot shot broker can answer the cost and compensation for libel, defamation, and false advertising lawsuits. 


Furthermore, since products and completed operations is added, general liability insurance for hot shot brokers will also take care of future client claims.  In essence, this is useful when hot shot loads for pickup trucks become damaged after the hotshot brokerage service was completed and the client files a claim later on. 


Professional Liability Insurance for Hot Shot Brokers

Hot shot brokers can make mistakes, which might result in losses for their clients.  This can incur financial liability if a lawsuit is filed.  To avoid losses in such a situation, hot shot brokers opt to get professional liability insurance. 


Professional liability insurance provides money if a hot shot broker is asked by a client to compensate for any economic loss that resulted from the following:

  • Negligence

  • Errors and omissions

  • Violation of good faith

  • Misrepresentation


Contingent Auto Liability Insurance for Hot Shot Brokers 

A hot shot broker can find himself also responsible for any damages or losses a hired hotshot hauling company or hot shot owner operator caused. General liability insurance and professional liability insurance don’t provide coverage if a hot shot broker is pulled into the trouble of another. Luckily, there’s contingent auto liability insurance that covers such an exclusion. 


Contingent auto liability insurance is a policy that provides coverage if a hot shot broker is also held responsible to pay for the cost of an accident caused by a hired hot shot owner-operator or hot shot company. In practice, this policy will account for the compensation to the aggrieved parties plus legal costs. Contingent auto liability, by the way, is also included in hotshot car hauling insurance. 


Image How to Become a Hot Shot Broker?

These are the steps in how to become a hotshot broker:

  • While there are no hot shot broker schools, you can get related experience by attending freight broker schools such as  Freight Broker Planet, Loadtraining Freight Broker School, and Freight Movers School

  • Familiarize yourself with intrastate and interstate shipping requirements

  • Smarten yourself - learn how to build rapport with clients

  • Expand your network - build connections with hot shot owner-operators and hot shot trucking companies

  • Get access to hot shot load boards

  • File your BOC-3 


Image Whats a BOC 3?

Experts have different views about the correct boc-3 definition. However, in essence, a BOC 3 allows hot shot load brokers to accept shipping documents and represent hot shot trucking companies, then accept projects on their behalf. 




Hotshot Trucking Requirements 

Hot shot owner-operators,companies, and brokers have to comply with hot shot requirements. 


Hotshot requirements for those running a hot shot trucking company are the type of insurance policies and the minimum amount of coverage mandated by state laws; business permits, business plans, motor carrier policy (optional), and employee records or list of hired contractual hot shot owner operator (More about this below). 


Driver requirements for hot shot trucking include a non-cdl or cdl driver's license, minimum auto liability insurance, and certificate of insurance. Note that the purchasing of auto liability insurance is one of the hot shot trucking requirements florida and other states of the US.

 

Hot shot hauling requirements for hot shot brokers, on the other hand, are a training certification and approved filing of BOC-3 from the FMCSA. 


How about hot shot trucking requirements for pickup trucks and other vehicles? There are only two; (1) such pickup truck or any other vehicle must classify as a class three, four, or five transport; and (2) they can be attached with a flatbed trailer. 




Hotshot Insurance Requirements for Hot Shot Trucking Companies

One of the first hot shot insurance requirements for hot shot trucking companies is very obvious - workers comp insurance. Workers comp insurance is mandated by law for businesses that employ a lot of people and a hot shot company isn’t exempt from getting this as one of the insurance requirements hot shot trucking. 


If a hot shot company owns hot shot pickup trucks or any other vehicles for hot shotting, then another one of the hot shot trucking insurance requirements to comply with is the purchasing of the minimum commercial auto liability insurance. 


To protect customers, hot shot trucking companies might also be required to get $100,000 cargo insurance and storage keepers or warehouse keepers insurance. 


Other insurance requirements are as follows:

  • Physical damage coverage for hot shot pickup truck or any other hot shot vehicle

  • A motor carrier policy for intrastate hot shot trucking

  • IRP registration for hot shot pickup truck/vehicle and permanent trailer identification (pti) certification

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How Much Does Hot Shot Insurance Cost?

So how much is insurance for hot shot trucking? As an answer, this section will provide you the premium estimates for hot shot truck drivers/owner-operators, hot shot trucking companies, and hot shot load brokers, as well as the cost of hot shot insurance for pickup trucks. 


How Much is Hot Shot Insurance for Hot Shot Trucking Companies?

  • The average hot shot insurance cost for a  $1 million general liability insurance for hot shot trucking companies is $212 a month or $2,544 a year

  • Hotshot insurance cost for a $1 million commercial property insurance for hot shot trucking companies is $310 a month or $3,720 a year

  • The average price for hot shot insurance that only includes workers comp policy is $150 a month or $1,800 a year

  • The cost of hot shot insurance that only includes warehouse keepers liability or storage keepers liability policy is $115 a month or $1,380 a year


How Much is Hotshot Insurance for Hot Shot Trucking Drivers?

  • General liability insurance cost for hot shot trucking drivers is $132 a month or $1,584 a year

  • The average insurance cost for hot shot trucking drivers purchasing $1 million professional liability insurance is $128 a month or $1,536 a year

  • Hot shot drivers pay $99 a month or $1,188 a year for loss of income coverage

  • The cost of cdl insurance for hot shot drivers is $108 a month or $1,296 a year. Non cdl hotshot insurance cost, on the other hand, is $112 a month or $1,344 a year


How Much Does Hotshot Pickup Truck Insurance Cost?

What is the average pickup truck insurance cost for those engaged in hot shot trucking? The bullets below provide the estimates. 

  • Hotshot truck insurance cost or hot shot pickup truck insurance cost for a $1 million auto liability policy is $165 a month or $1,980 a year

  • Hot shot trucking insurance cost for a $2 million auto liability policy for a hot shot pickup truck is $186 a month or $2,232 a year 

  • Hotshot trucking insurance cost for a $1 million stand-alone physical damage coverage is $147 a month or $1,764  a year


How Much is Hot Shot Insurance for Hot Shot Load Brokers?

  • The cost of $1 million general liability insurance for hot shot load brokers or hot shot brokers is $67 a month or $804  a year

  • Hot shot brokers pay $59 a month or $708 a year for a $1 million professional liability insurance from hot shot insurance companies

  • Hotshot insurance companies charge hot shot brokers $45 a month or $540 a year for $1 million contingent auto liability insurance


For further reference, here’s a table showing the hot shot trucking insurance rates of the most recommended carriers:


Monthly Rate Annual Rate Best for
CoverWallet $210 $2,520 Cheap hot shot insurance and hot shot insurance quotes comparison online
Thimble $325 $3,900 Short term insurance policies for hot shot drivers
Geico $478 $5,736 Cheap stand-alone commercial auto insurance for hot shot companies, owner-operators, and brokers
Progressive $546 $6,552 Comprehensive hot shot insurance policies
OOIDA $629 $7,548 Best hot shot insurance with flexible payment options
Colonial $1,200 $14,400 Hot shot insurance with special coverages


Get Hot Shot Trucking Insurance Quotes for Free!

Over the course of this guide, we talked about what does hot shot mean as well as the different types of hot shot insurance. Why don’t you take a break  and use our smart and intuitive online hot shot trucking insurance quote generator now? Click or tap the “Get Quotes” button and provide some information. Upon doing so, our quotes generator will then send you the offers of the best hot shot insurance carriers from the cheapest to the most expensive or the least comprehensive to the most comprehensive. 





Best Hot Shot Trucking Insurance Companies

Here’s a brief review of the best hot shot insurance carriers according to third-party watchdogs and user reviews. 


CoverWallet Hot Shot Insurance


Pros

  • Offers hot shot insurance florida and other locations of the US

  • CoverWallet has the cheapest hot shot insurance rate off all companies we considered for our review

  • Buy coverage for your hot shot business or hotshot truck and trailer immediately

  • Easy online policy management

Cons

  • Not an insurance carrier but a broker offering the policies of its partners


CoverWallet comes first on our list of the best insurance for hotshot trucking. Policies the company includes in its hotshot insurance quotes are general liability, physical damage coverage, cargo insurance for pickup, and workers compensation policies. By the way, CoverWallet also offers high risk commercial truck insurance for expedited truckers. 


Best for: Cheap hot shot insurance and hot shot insurance quotes comparison online

Average cost: $210

Our rating: 10/10




Thimble Insurance


Pros

  • Offers short term liability policies useful for hot shot drivers

  • Short term policies are very cheap 

Cons

  • Doesn’t offer specialized hotshot quotes

  • Doesn’t offer commercial pickup truck insurance for hot shot trucking


Thimble doesn’t have a specialized hotshot carrier insurance policy. However, you can still get covered through its trucking insurance program. The reason why this company comes second in our list of the best hotshot insurance is because it provides short term coverage at very low rates. Note that Thimble works best for hot shot drivers. Policies available are general liability and professional liability insurance. 


Best for: Short term insurance policies for hot shot drivers, which is useful for weekend hot shot trucking

Average cost: $325

Our rating: 10/10



Geico Insurance


Pros 

  • Offers cheap commercial truck insurance for standard trucking and hot shot trucking businesses

Cons

  • Doesn’t have hot shot quotes


There’s no such thing as geico hot shot insurance. Though Geico doesn’t provide tailored hot shot insurance, we still included this company in our list of the best hot shot trucking insurance companies because it provides cheap commercial truck insurance for standard trucking and hot shot trucking businesses.


Best for: Cheap stand-alone commercial auto insurance for trucks for hotshot services

Average cost: $478

Our rating: 8/10




Progressive Hotshot Insurance


Pros

  • Offers comprehensive insurance policies for hot shot pickup trucks and other vehicles


Cons

  • Doesn’t offer cheap commercial hot shot insurance


Progressive is one of the best hot shot truck insurance carriers in the US. Policies included in its hot shot insurance for pickup trucks are auto liability, trailer interchange, non trucking liability , and cargo insurance policies.

 

This company also offers mcs 90 progressive for hot shot trucks used for carrying hazardous LTL loads. Note that mcs-90 progressive can be endorsed to hot shot insurance purchased from another company. 


Best for: Comprehensive hot shot insurance policies for pickup trucks

Average cost: $546

Our rating: 8/10





OOIDA Hot Shot Insurance


Pros

  • Offers flexible payment options 

  • Offers international hot shot truck insurance in partnership with Lloyds of London

Cons

  • OOIDA doesn’t provide the best service for independent hotshot owner operators


OOIDA provides hot shot insurance coverage through its commercial truck insurance program. OOIDA hot shot insurance policyholders enjoy competitive rates and discounts, no hidden renewal fees, and flexible payment options. However, according to forums, OOIDA makes things hard for independent hot-shot owner operators. 


Best for: Hot shot trucking for hire insurance with flexible payment options

Average cost: $629

Our rating: 8/10




Colonial Hot Shot Insurance


Pros

  • Hot shot trucking quotes from Colonial includes specialized policies

  • Offers 100k cargo insurance and  high risk truck insurance

  • Offers high risk commercial insurance for hot shot companies

Cons

  • Expensive


Last on our list of the best hot shot insurance carriers is Colonial Insurance. This company might have the best commercial insurance for hotshot trucking as it includes all the insurance needed for hot shot trucking such as comprehensive coverage, collision coverage, and trailer accessories coverage. Colonial also offers special hot shot insurance policies  such as pollution coverage, earned freight coverage, and loading/unloading coverage. 


Best for: Hot shot insurance with specialized policies

Average cost: $1,200

Our rating: 5/10

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How Much Do Hotshot Drivers Make?

So how much do hotshots make? The income of hotshot drivers depends on the type of LTL loads they carry. For example, a perishable LTL load will yield higher income than an LTL load consisting of non-perishable goods. 


We asked industry experts about how much does a hot shot make and these are their answers:


  • Hot shot auto haulers earn $400 - $600 for each successful delivery excluding tips or unforeseen expenses while trucking

  • How much do hotshot truck drivers make when shipping perishable goods? Hot shot truckers charge $500 - $700 for each successful delivery


Image What Do I Need to be a Hotshot Driver?

How to get into hot shot trucking isn’t that difficult as hot shot driver requirements aren’t very strict. 


The first step in how to hotshot trucking is to get a non commercial driving license (non cdl) or commercial driving license (cdl). 


The second step in how to do hotshot trucking is to get a flatbed trailer for your pickup truck, car, or utility van. 


Once you have the two prepared, don’t forget to purchase commercial hot shot trucking insurance policies (any of the ones we mentioned above), so that it’s easier for you to land on gigs. Last but not least, is to get in touch with hot shot load brokers or hot shot trucking companies.


Image Non CDL Hot Shot Trucking Requirements

Hot shot drivers only having a non commercial driving license are required to get the minimum auto liability coverage (typically $100,000) mandated by states. Another requisite is that they can only accept hot shot trucking gigs where the cargo or freight is 26,000 pounds or less.


Image What CDL Do I Need for Hotshot Trucking?

You can start hot shot trucking with only a non cdl license. However, if you really want to get a commercial driving license, then know that class A cdl is already enough.  If you plan to trucking hotshot hazardous or very heavy freights, then you might be required to get a class B or class C commercial driving license. 





How to Start Your Own Hot Shot Business?

We’ve discussed how much can you make hotshotting as well as other related topics. At this time, let’s talk about how much a hot shot trucking startup earns and how to start a hot shot trucking business. 


So how much does a hotshot trucking startup earn? On average, hot shot trucking startups earn $80,000 a year. This figure already excludes hot shot trucking startup cost such as maintenance for business vehicle, building, and equipment; employee wages, insurance premiums, taxes, and so on. 


Now, let’s talk about how to start hot shot trucking business. The first step - if you’re asking “how to start my own hot shot business” -  is to make a hotshot trucking business plan. A business plan acts as your guide when building the foundations of your hot shot trucking business. Furthermore, the hot shot trucking business plan will help you get hotshot truck and trailer financing. If you don’t know how to make it, approach business consulting firms or business plan writers at Fiverr and Upwork. 


Figuring how much is the average hotshot trucking startup cost is the second step in building your hotshot trucking business. You have to consider a lot of factors to figure out how much hot shot start up cost you need to shoulder. Such factors are:

  • Business papers processing cost

  • How many people you plan to employ

  • How many hot shot truck you plan to buy

  • Whether or not you’ll be renting a building or make your own


Obviously, the third step in how to start a hot shot business is to get hotshot truck and trailer financing. This step is optional by the way if you already have the capital. If you don’t, then you can approach banks or microloans and ask if it's possible to get a small business loan for hotshot trucking startup.


The fourth step is to get familiar with hot shot trucking rates. Normally, established hot shot trucking companies charge $1.5 per mile for their services. But note that this is not a set fee as you can increase your rates based on the type of LTL load the clients want to ship. 


The fifth step, and this one is obvious too, is to get the hot shot legal papers furnished. Papers you need to process are:

  • Business license

  • Tax permits

  • Trade permits

  • FMCSA trucking authority

  • Business name registration


Speaking of business name registration, know that you’ll need to come up with a catchy name for your business as well as a unique hotshot truck logo. 


When you have all the papers ready, then it’s time for you to rent a building or hire builders to make your business building - this is the sixth step in how to start your own hot shot business. 


While your building is ongoing construction or the building rental process is not yet complete, spend your time deciding what kind of hot shot vehicle transport to get - will it be pickup trucks, cargo vans, and the like?


Let’s say you decided to go with pickup trucks; So what kind of truck do you need for hotshot trucking business? Many suggest that for the best rig that balances performance and longevity, it’s best to go for RAM or GMC units. 


The building is complete and you have the machines ready, it’s now time for you to get workers. Doing the hiring process by yourself is draining if not time-consuming. And so, you might want to invest some money and let recruiters do the legwork. 


Ideally, your startup hot shot trucking company should be composed of hot shot trucking brokers, customer service representatives, and individuals with a background in marketing and finance. These kinds of talents help you reach out to customers, schedule hot shot trucking gigs, and keep the hot shot load board free from errors. 


On another note,  it’s a good idea if you invest in a website and hire a web developer. There are a ton of things you can do with a website. You can use it to collect payments, find leads, or post a free hot shot load board. 


We’re not done yet. Also, don’t forget to comply with insurance requirements for hot shot trucking companies.  


By the way, there might be many hot shot commercial trucking insurance requirements you have to invest in. 


Usually, hot shot trucking insurance requirements you need to comply with are the purchasing of workers comp insurance, cargo insurance and minimum auto liability insurance. You might also need to comply with FMCSA insurance requirements for hot shot trucking such as an MCS90 or motor carrier policy. 


So that’s it, note that all the steps we provided here apply when you’re starting a hotshot business in texas or any other location in the US. 


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