New authority, one truck, general freight: $12,000-$25,000 per year. In Florida, New Jersey, or New York: $30,000+. Monthly: $1,000-$2,000 before fuel, your truck payment, or anything else.
That is the number. Now here is everything behind it.
Where your money goes, line by line
| Coverage | Annual Cost | What It Covers | Notes |
|---|---|---|---|
| Auto Liability | $6,000-$12,000+ | Bodily injury and property damage to others | Required by federal law. Your biggest line item. $750K minimum, $1M recommended. |
| Physical Damage | $1,700-$4,000 | Damage to your truck (collision + comprehensive) | 1.7-4% of truck value. Required if financed. |
| Cargo Insurance | $400-$2,500 | Loss or damage to freight you haul | $100K standard. Brokers require it. |
| General Liability | $450-$1,500 | Non-driving incidents (loading dock, slip-and-fall) | If needed. |
| Bobtail Insurance | $300-$800 | Work-related driving without a trailer | Depends on operation. |
| Non-Trucking Liability | $300-$600 | Personal use of your truck | If needed. |
| Occupational Accident | $1,548-$1,824 | Your injuries on the job | For independent contractors without workers’ comp. |
| Trailer Interchange | $100-$1,500 | Damage to non-owned trailers in your possession | Only if you pull others’ trailers. |
Auto liability accounts for roughly half your total premium. Physical damage scales directly with your truck’s value — a $150,000 truck costs more to insure than a $75,000 truck.
The down payment will surprise you if you are not ready for it
Your premium is not a monthly subscription. Cash is due on binding day.
| Risk Category | Down Payment | Dollar Estimate |
|---|---|---|
| Standard new authority | 15-25% of annual premium | $1,800-$5,000+ |
| Experienced, clean record | 10-15% | $1,000-$2,500 |
| High-risk or specialized | 25-35% | $3,000-$8,000+ |
Example: $18,000 annual premium, 20% down
- Down payment: $3,600 (binding day)
- Monthly payments: $1,600 x 9 months
- Total: $18,000
Most carriers structure it as a down payment plus 9-10 monthly installments. Some offer EFT discounts for automatic payments. Premium financing through third-party lenders is available if your cash is tight but adds interest costs.
Have the down payment ready before you bind. This is not the time to discover you are $3,000 short.
Three budget scenarios for new authorities
| Budget | Standard | Comprehensive | |
|---|---|---|---|
| Annual Cost | $8,000-$12,000 | $12,000-$18,000 | $18,000-$25,000+ |
| Monthly Cost | $667-$1,000 | $1,000-$1,500 | $1,500-$2,083 |
| Auto Liability | $750K (federal min) | $1M (broker standard) | $1M |
| Physical Damage | Not included | Included | Included |
| Cargo | $100K | $100K | $100K-$250K |
| General Liability | Not included | If needed | If needed |
| Bobtail | Not included | Not included | If needed |
| Occ/Acc | Not included | Not included | For ICs |
| Best For | Truck owned outright, high cash reserves, accepts risk | Most new carriers | Higher-value cargo, 1099 drivers |
Budget only works if you own your truck free and clear and can absorb a total loss.
Standard is what most new single-truck carriers end up with. $1M liability satisfies brokers, physical damage protects your truck, cargo gets you loads.
Comprehensive adds general liability for dock incidents, bobtail for between-load driving, and occupational accident as your workers’ comp alternative if you are an independent contractor.
How to lower your costs
Your first-year premium is the highest you will ever pay for the same coverage. It drops — sometimes dramatically.
Year 1, clean record: 20-30% reduction at renewal. An $18,000 policy drops to $12,600-$14,400.
Year 2, clean history: The standard market opens. Carriers that would not touch you as a new authority now compete for your business.
Year 3+: Full loss runs, multiple competitive options. Expect 40-60% below your first-year premium.
Between now and then: file claims judiciously — a $1,500 fender bender claim can cost more in premium increases than paying out of pocket. Maintain clean CSA scores. Add dash cams. Shop every renewal aggressively, 60-90 days before expiration.
But here is the thing about insurance costs that this page cannot give you: the number you actually pay depends on how your application is put together. Your driving record, your equipment, your operation, where you are — every detail matters, and the way those details are presented to an underwriter is the difference between the high end of every range on this page and the low end.
We do this daily. We know which carriers are writing new authorities right now, how they rate, and what they want to see on an application. That is not something you are going to learn from a guide — it is something you learn from writing hundreds of these policies. For us, getting you the best available rate is routine. For you, this is the first time.
So if you are still reading this trying to figure out what your insurance is going to cost — stop. Give us the application. Let us put real numbers to your situation. Five minutes on the phone tells you more than this entire page.
Get a Quote | Call Us: (208) 800-0640
How Much Does Trucking Insurance Cost for New Authorities? FAQ
What is the average cost of trucking insurance for a new authority?
For a single truck hauling general freight with a clean driving record, expect $12,000-$25,000 annually for a comprehensive package that includes auto liability, physical damage, and cargo coverage. Budget minimum is $8,000-$12,000 for liability and cargo only. High-cost states like Florida and New Jersey can push totals above $30,000.
Why is new authority trucking insurance so expensive?
Three factors compound: only a handful of carriers will write new authorities (limited competition), nuclear verdicts have increased 235% since 2012 (higher risk), and you have no claims history for underwriters to evaluate. New authority status alone adds a 20-40% surcharge above what established carriers pay for identical coverage.
How much is the down payment for trucking insurance?
Expect 15-25% of the annual premium as a down payment. On a $15,000 annual policy, that is $2,250-$3,750 due on binding day. High-risk profiles or specialized operations may require 25-35% down. The balance is typically paid in 9-10 monthly installments.
Can I lower my trucking insurance costs as a new authority?
Yes. Your first-year premium is the highest you will ever pay. After 12 clean months, most carriers offer a 20-30% reduction at renewal. After 2-3 years, you enter the standard market with many more carrier options. In the meantime, a specialist agent knows how to present your application to get the best available rate from the carriers that write new authorities.
When does trucking insurance get cheaper after getting authority?
Most carriers offer a 20-30% rate reduction at the first renewal if you have a clean record with no claims. After 2-3 years of continuous operation, you exit new authority pricing entirely and enter the standard market with many more carrier options.
Get your new authority insurance quote in minutes.
Same-day quotes. We explain everything. Licensed in 42 states.
Call or text: (208) 800-0640