Hauling expedited loads and hot shot freight is a choice job for many truckers. Loads may be somewhat hard to find, and the loads that do get booked usually require the truck driver to run hard to meet the schedule, but the reward is premium rates and higher per mile pay. Hot shot insurance and “expediter’s insurance” are often used interchangeably.
Hot shot trucking started in the early days of oil exploration in Texas and Oklahoma according to most accounts. A hotshot was a driver of (usually just a normal) pickup truck who ran to town for parts for the rig and equipment on the drilling site. The driver was on-call (usually waiting at the site) and simply ran into town and back as fast as they could to fetch whatever it was that the rig crew needed to keep the rig drilling.
The main feature of hot shot trucking is that whatever part or equipment is being moved has to be picked up usually within 1 hour of the call out and delivered within a very tight delivery time window, usually meaning “get it there yesterday.” If it’s a hotshot load, it’s usually an emergency.
At the minimum, hot shot truckers should seek bodily injury and property damage insurance. The requirement for cargo insurance was eliminated in 2012, but in practice most manufacturers, agricultural producers, warehouses and other potential clients will require that you have $100,000 of cargo insurance before they will consider enlisting your services. Additional coverages may include business liability, self-employment and medical insurance. As a leading provider of specialty trucking insurance, we have the expertise and capacity to design a well-tailored hot shot insurance program for trucking expediters.
Let Small Business Insurance Group help you choose a policy that will fit your individual needs. Protecting your assets, whether personal, business, or both, is our goal. A well-chosen policy can lessen the impact of some of life’s most common, yet unforeseen perils. We’re here to help when you are considering Hot Shot coverage.