OOIDA truck insurance
The call goes to an independent agency, not to OOIDA.
- Primary liability: two limit choices, $750,000 and $1,000,000
- Rental reimbursement: pays up to $300 each day, with a $9,000 cap
- Optional downtime: $300 a day at most, capped at $18,000
Primary liability limits for owner-operators with their own authority.
ooidatruckinsurance.comDaily cap for rental reimbursement or optional downtime coverage.
ooidatruckinsurance.comAnnual dues for a 1-year membership on the application form.
ooida.comMissouri Department of Insurance record for OOIDA Risk Retention Group.
insurance.mo.govHotshot and truck coverage cost per month
| A month | Applies to | Source |
|---|---|---|
| $665 to $1,165 | An established hotshot business with a clean driving record | Trucking Insurance Services |
| $1,000 to $1,800 | A hotshot in the first two years with your own new MC number | Trucker Path Insurance |
An agent prices your own truck, record and routes; OOIDA quotes can land above or below these ranges.
The Owner-Operator Independent Drivers Association sells OOIDA truck insurance through Owner-Operator Services, Inc., a company it owns. Owner-operators running under their own authority can pick primary liability limits of $750,000 or $1 million, and leased drivers can get coverage too. A 1-year membership runs $45. - 1-year membership: $45
Who sells OOIDA insurance
Owner-Operator Services, Inc., which OOIDA owns completely, handles the sale of OOIDA truck insurance. On its website, the company often goes by the shorter name OOSI.
According to OOSI, it can write many policies on its own without bringing in a third party. In practice, that means OOSI can often handle your application in-house instead of sending it to an outside company. OOSI also reports that its agents earn no commission and that credit checks play no part in the process.
What does OOIDA commercial truck insurance cover?
You can find the available options on the owner-operator and additional coverage pages listed by OOIDA.
Coverage types in a truck policy
LiabilityPays for injuries and damage your truck causes to other people. The federal minimum is $300,000 to $5,000,000.
Motor truck cargoPays for the load you haul if it is damaged or stolen. Most brokers ask for $100,000.
Physical damageRepairs or replaces your own truck and trailer after a crash, fire or theft.
Non-trucking liabilityCovers a driver working for a trucking company who uses the truck between loads, off the job.
BobtailCovers a truck you drive for a trucking company when it has no trailer, such as a pickup heading home after dropping a load.
Trailer interchangePays for damage to a trailer you pull for someone else under a written trailer-sharing agreement.
| Option | Who it suits | Limits and terms as published |
|---|---|---|
| Primary liability | Owner-operators with their own MC number | Two limits available: $750,000 and $1,000,000 |
| Bobtail liability | Drivers who lease to a carrier | Protects your truck when no trailer is attached, dispatched or not |
| Physical damage | Members who insure their own rig | Glass breaks, chip repairs, and downtime come included at no added premium |
| Rental reimbursement | Drivers who need a replacement truck | Pays up to $300 for each day, with a $9,000 cap for the policy period |
| Downtime coverage | Drivers whose truck is in the shop | $300 a day at most, $18,000 maximum, with a 14-day wait first |
Federal rules set a floor on the least liability you may carry. Here is how OOIDA's limits compare with those requirements.
| Your setup, crossing state lines | Federal liability minimum |
|---|---|
| Trucks rated 10,001 lbs or over, non-hazardous freight | $750,000 |
| Fleets made up only of vehicles under 10,001 lbs carrying non-hazardous freight | $300,000 |
| Hazmat, oil, or hazardous waste loads that are placarded, 10,001 lbs or over | $1,000,000 |
| Bulk hazmat in tanks, explosives, poison gas, or radioactive loads | $5,000,000 |
Brokers frequently want coverage above the federal floor. C.H. Robinson, TQL, and Amazon Relay all ask for a million dollars in auto liability along with $100,000 in cargo. The $1 million OOIDA option lines up with that figure.
The OOIDA risk retention group
OOIDA's insurance site lists its disclosure entity as OOIDA Risk Retention Group, Inc. This kind of group is an insurer owned by its members, which covers the shared liability risks of eligible members.
State insurance guaranty funds do not reach risk retention groups, and that includes OOIDA's. The Missouri Department of Insurance shows the group listed as NAIC number 10353, and that listing lets you pull up its record.
OOIDA also states that reinsurance for its surplus lines program comes from Lloyd's of London. Reinsurance means a separate insurer takes on part of the exposure.
Choosing OOIDA coverage for your setup
Your coverage choice comes down to whether you operate under your own authority or lease to a carrier. Working under your own authority means holding your own MC number and hauling under your own name.
- Own authority: pick a primary liability limit of $750,000 or $1,000,000, and add rental reimbursement or optional downtime if you lose days to repairs.
- Leasing on to a carrier: while you are dispatched, the carrier's filing handles your coverage. OOIDA also offers bobtail liability, which protects your truck when it travels without a trailer, whether you are dispatched or not.
Physical damage applies to your own truck either way. For members, that includes glass breakage, chip repair, and downtime with no added premium.
An agent can look at your setup and compare it with what OOIDA publishes.
OOIDA membership pricing
The membership form on OOIDA's site charges $45 for a 1-year membership.
Hotshot rigs and what they need
Dually with a gooseneckA pickup with double rear wheels and a trailer that hitches in the truck bed. Most are rated 10,001 pounds or more together, so the minimum is $750,000.
Bumper-pull flatbed behind a pickupAn open trailer on the back bumper of a pickup. Rated under 10,001 pounds together, the minimum is $300,000; at 10,001 pounds or more, $750,000.
Car haulerA trailer built to carry cars. The same minimum by weight, plus cargo insurance for as much as the cars are worth.
Insurers that write small trucks and hotshots
One independent agent can quote several of these for the same truck. Logos belong to their owners; none of these companies runs this site.
Questions drivers ask
Is OOIDA really an insurer?
OOIDA is a drivers' association. The insurance side runs through its subsidiary OOSI, while the risk retention group takes on the liability risk for members.
What do members get for the fee?
The $45 a year makes you a member, and members get glass breakage, chip repair and downtime included in physical damage coverage at no extra premium. Whether that's worth it depends on your truck and what you'd otherwise pay (hotshot truckers average $896 a month for commercial auto insurance), which is something an agent can help you weigh.
Where do you buy OOIDA coverage?
Start with OOSI, OOIDA's own agency. The insurer files proof of your liability insurance with FMCSA using Form BMC-91 or BMC-91X. When you are seeking new authority, that filing has to happen within 20 days of your application being published, or the application gets dismissed.
Sources
- Owner operator (ooidatruckinsurance.com)
- Additional coverage (ooidatruckinsurance.com)
- Membership (ooida.com)
- Company details (insurance.mo.gov)
- ooidatruckinsurance.com
- Financial responsibility, minimum levels (49 CFR 387.9)
- Security for the protection of the public: Minimum limits (49 CFR 387.303)
- Insurance filing requirements (FMCSA)
Related
Compare OOIDA with other quotes
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