Owner Operator Insurance Summary

CloudTrucks provides the following DOT required insurance Coverage

  1. Auto Liability Coverage ($1500 deductible for each claim - regardless of fault)

    1. COI Required by every Broker to allow booking of loads

    2. Generally required by your finance company or leasing company

    3. Required for a carrier to remain an authority carrier with DOT# and MC#

    4. Coverage for “other parties” involved in an accident with a driver operating under CloudTrucks operating authority

    5. Coverage for injuries, PD & Property damage sustained by “other parties” in an accident

    6. Only covered while operating booked load under CloudTrucks DOT authority or while Deadheading directly to that dispatch

    7. No coverage while traveling home, bobtailing, operating truck for personal reasons, or operating the truck while under personal conveyance on the ELD.

    8. Subrogation for equipment damage or injuries to contractors is their sole responsibility

  2. General Liability Insurance (No deductible)

    1. Covers non-accident related incidents of potential liability

    2. Generally for incidents occurring on the dock, at a customer’s facility, or at an Operating center owned or leased by the company

  3. Cargo Insurance ($1500 deductible on any paid claim)

    1. Coverage for carrier-related Cargo Claims

    2. The contractor is liable for “Driver related” OS&D up to the $1500

Contractor Required Insurance Policies (Policies are direct between contractor/insurer)

  1. Non-Trucking Liability Insurance

    1. Must provide the same level of coverage you have under our Auto Liability Coverage

    2. Coverage for anytime you are not operating the truck/trailer under dispatch

    3. Bobtail insurance alone is not adequate coverage - coverage must explicitly call out NTL coverage when not under dispatch but still attached to an empty trailer

  2. Physical Damage Coverage for Truck in the full amount of equipment value

    1. Covers repairs or replacement of your owned or leased truck in the event of an accident

    2. CloudTrucks assumes no liability for repairs to Contractor owned or leased equipment in the event of an accident or incident - We do not subrogate on your behalf

  3. Occupational Accident Insurance

    1. Covers injuries to your personal body sustained in the event of an accident

    2. CloudTrucks assumes no liability for any contractor’s medical expenses resulting from a work-related accident or incident (regardless of fault and regardless of Auto Liability claim)

    3. This insurance is in place to ensure that your medical expenses are covered and carrying Health insurance does not eliminate the need for Occupational Accident Insurance

    4. Needs $1 Million in coverage

  4. Workman's Compensation (Only required for W2 employees of fleet owners)

    1. “Employees” cannot be covered under Occupational Accident

    2. Please refer to State and local worker’s compensation programs to meet state requirements

    3. One of our partners, Reliance has a Worker's Compensation program

Other Insurance

  1. Trailer Physical Damage insurance ($1500 deductible)

    1. Provided as a part of the weekly trailer use fee

    2. Does not cover Trailer Maintenance and damage repairs < $1500

    3. Does not cover towing and storage unless claim is filed for trailer damage

    4. If you have your own purchased/leased trailer, we need a COI with coverage for the value of your trailer.

  2. Supplemental deductible protection policy

    1. Some insurance providers will offer a policy that covers the deductibles in the event of an accident that bridges multiple coverage policies

    2. An accident involving Cargo damage, Trailer damage and an auto liability claim has 3 deductibles of $1500 for each claim ($4500 total)

    3. Some drivers opt. to secure deductible coverage to avoid this level of financial liability in the event of an accident

    4. Towing and storage is not covered if the trailer is not damaged in an accident, even if the truck is totaled. These expenses can amount to tens of thousands of dollars with no coverage

    5. CloudTrucks is working with Reliance to develop a low cost deductible protection policy - This will be an optional policy. - will let you know when we have more information.

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