Bobtail physical damage (“phys-dam”), contingent liability, non-trucking liability, and deadhead insurance are all different titles for the same genre of insurance coverage. For anyone not in the trucking industry, these words can almost sound foreign. But, to an owner-operator driving a semi for a living (or the owner of a trucking company using owner-operators to haul loads), these words are very frequently heard. Nonetheless, even for the most experienced driver or trucking professional, the above-mentioned coverages can be somewhat confusing.
In this post, we’ll try to help clarify the term “bobtail insurance.” We’ll also provide information to help ensure you’re properly covered, whether you own a truck, drive a truck for someone else, or own a company that has employees / owner-operators.
What is Bobtail Insurance?
Bobtail phys-dam is the type of insurance that is needed for a driver who owns his truck, but he is driving while not under dispatch for the company he works for. For example, if John Doe owns a semi-truck, drives for ABC Trucking, and is driving that truck under dispatch for ABC Trucking, he is most likely already covered under ABC Trucking’s insurance. Where bobtail phys-dam insurance would apply is when John Doe finishes his route for the week, unhooks his trailer, and then decides to drive his truck back home. If he were to get into an accident while on the way home (since he is not under dispatch from ABC Trucking), he would need to have bobtail insurance. Otherwise, he may be uninsured for that accident.
How Much Does Bobtail Insurance Cost?
Bobtail insurance is relatively affordable for most qualified drivers. On average, Indiana truckers can expect bobtail insurance to run anywhere between $1,000 to $3,000 annually, but actual quoted prices can vary based on a number of factors.
One response commonly heard from drivers is that they don’t need bobtail insurance. Some claim that it is more or less a waste of money. It can’t be urged enough that bobtail insurance (or deadhead insurance) is something almost every owner-operator needs.
Talk to a Bobtail Insurance Agent in Southern Indiana
Do you own and operate a truck? Need help finding the right bobtail coverage for your business? Contact our team at Kincaid Insurance, headquartered just outside of Evansville, Indiana in Rockport. We’ve helped truckers for more than twenty years, and we look forward to serving your trucking business. Call, click, or email us for more information. We’re happy to pull together a no-obligation bobtail insurance quote for you.