Insurance Requirements Costs Coverages Deductibles.
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Transcript of Insurance Requirements Costs Coverages Deductibles.
![Page 1: Insurance Requirements Costs Coverages Deductibles.](https://reader036.fdocuments.net/reader036/viewer/2022082818/56649ec55503460f94bd02a1/html5/thumbnails/1.jpg)
Insurance
Requirements
Costs
Coverages
Deductibles
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Worker’s Compensation
Requirement - coverage for all employees and all owner/operators for all duties performed in the operation of an agency and as an agent for Atlas.
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Worker’s Compensation & Employers Liability
Coverage Requirements– Worker’s Compensation - Statutory Limit– Employers Liability - $500,000– Insurance Company - B+ or higher by AM Best
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Worker’s Compensation Cost
Company Drivers– 1/3 of Hauling Revenue
Revenue by $100
X
Modified State Rate
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Worker’s Compensation Cost
Owner/Operators– $350/Month for Interstate
– $30/Month more to add Intrastate and Local
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Primary Liability
Requirements– Certificate of Insurance
– One Million Dollars Coverage
– Insurance Company
B+ or Higher by AM Best
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Primary Liability
Coverage Requirements– Auto Liability
Must include owned, non-owned, and hired vehicles plus non-trucking liability.
– Comprehensive General Liability Must include contingent, contracts, products, completed operations and personal injury.
– For Property Damage and Bodily Injury resulting from accidents
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Primary Liability
$500.00 charge back for at fault accidents with property damage and/or bodily injury.
$100.00 charge back for property damage from a non-collision accident.
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Primary Liability Costs
Non-certified new agents– $4.34/$100 of distributable linehaul revenue
Participating Agents– Range from $2.44 to $5.57/$100 of
distributable linehaul revenue
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Excess Liability
Requirement– Additional 19 million coverage
Coverage Requirements– Same as Primary Liability
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Non-Trucking Liability
Requirement– One Million coverage on all power units leased
to Atlas
Coverage and Deductible– Same as Primary Liability
Cost– Included with Atlas Primary Liability coverage
– $250/unit with other Primary Liability coverage
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Physical Damage Requirement
– None
Coverage– Collision/overturn
– Combined additional coverage
– Towing
Actual Cash Value Factory Installed items only
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Physical Damage
Deductibles– Collision/$500
– Combined additional coverage/$250
– Total loss theft or fire damage/none
Cost– Based on year and actual cash value of unit