OOIDA Insurance Review

OOIDA (Owner-Operator Independent Drivers Association) fights to protect the rights of truckers, but the organization also offers affordable truck insurance policies designed specifically for owner-operators.

The company claims to be the most experienced truck insurance specialist in the nation, and has been in business since the 1970s.

Because OOIDA also offers representation for truckers, the organization knows the industry and the unique needs of owner-operators. The company makes its policies more affordable by offering monthly payments without upfront or additional finance costs.

Consistently ranked as one of the best truck insurance companies, OOIDA has a lot to offer owner-operators.

Why Choose OOIDA?

OOIDA claims to offer many benefits to owner-operators, including:

• Excellent customer service
• Expert advice
• Direct underwriting
• A wide range of coverage options
• Quick turnaround
• Competitive rates
• No financing costs
• Monthly installments
• No hidden renewal terms
• Up to $2,000 in new truck rebates

Types of Truckers Coverage Offered

OOIDA offers two types of owner-operator truck insurance policies for members: leased owner-operators and owner-operators with authority.

Owner-Operator with Authority

For professional owner-operators who own their trucks outright, this policy offers a wide range of coverage, including:

Commercial General Liability

Provides protection against liability claims for property damage and bodily injury related to operations, premises, completed operations, products, personal injury and advertising.

Owner-operators can also purchase primary liability to save on premiums with OOIDA truck insurance.

Primary Liability

Provides protection against legal liability losses for bodily injury or damage caused to another party. OOIDA offers coverage levels that meet the requirements for owner-operators with authority, or those hauling exempt commodities.

Primary liability coverage is required to activate your own authority in the trucking industry.

Passenger Accident Coverage

Provides coverage for accidental death or dismemberment as well as accidental medical expense coverage for passengers. No age limits or deductibles. This accidental medical expense coverage is one of the best in the business.

Motor Truck Cargo

Provides coverage for legal liability losses for damaged goods or merchandise. Includes coverage for liability claims on earned freight, debris removal and refrigeration breakdown.

Physical Damage

Provides coverage for an insured vehicle against fire, collision, vandalism or theft.

Optional coverage is also available with physical damage policies, including:

• Breakdown: Helps cover the cost of towing and labor if your truck breaks down on the side of the road.
• Downtime: Extended coverage for downtime, whether due to repairs or a physical damage claim. Coverage limit is $18,000, with a $300-per-day limit. If you incur any type of bodily injury, downtime coverage can help get you through beyond basic liability coverage.
• Personal Property: Protects personal property carried in the truck that is not covered by other insurance policies. Coverage limits range from $2,000 to $5,000.
• Gap: Offers protection for the difference between the market value of your truck and the loan payoff in case you experience a total loss. Available for trailers and tractors.
• Limited Depreciation: Coverage that virtually eliminates depreciation on a new model tractor.
• Rental Reimbursement: Offers reimbursement for rental vehicles while your vehicle is inoperable due to a covered loss. Maximum of $300 per day up to $9,000. We recommend all owner-operators carry rental reimbursement and liability coverage.
• Towing and Clean-Up: Offers additional coverage for towing and clean-up costs associated with a covered loss.
• Trailer Interchange: Required if a motor carrier or shipper requires you to be responsible for non-owned trailers pulled by your tractor.

Leased Owner-Operators

In addition to owner-operators with authority, OOIDA also offers coverage for leased owner-operators. By purchasing your own insurance, instead of relying on your carrier’s insurance, you know exactly what type of coverage you have and what you’re paying for. This also makes it easier for liability claims as you can go directly to your insurer.

OOIDA offers the following coverage for leased vehicles:

Non-Trucking Liability

Provides professional liability protection while the truck is not in use for commercial purposes. In other words, the truck must be used for your own convenience and outside the scope of the carrier’s discretion or control. There must also be no economic benefit to the lease company or owner-operator trucking business at the time of a loss.

Passenger Accident Coverage

Provides protection for accidental death and dismemberment as well as accidental medical expenses for guest passengers. No age limits or deductibles.

Unladen Liability

Provides business coverage for when the truck is being operated with an empty trailer attached, or without any trailer.

Bobtail Liability

Provides protection for when the truck is being operated without a trailer attached.

Physical Damage

Provides coverage for an insured vehicle against fire, collision, vandalism or theft.

Supplemental coverage is available with physical damage policies, including:

• Breakdown: Provides coverage for towing and labor if your truck breaks down unexpectedly.
• Personal Property: Protects personal property in your truck that is not covered by another insurance policy. Limits range from $2,000 to $5,000.
• Additional Downtime: Extended coverage for downtime due to a physical damage claim or repair. Up to $300 a day with a maximum coverage limit of $18,000.
• Rental Reimbursement: Provides reimbursement for the rental of a replacement vehicle if yours is inoperable due to a covered loss. Maximum of $300 per day, per vehicle, up to $9,000.
• Limited Depreciation: Coverage that eliminates depreciation on a new or current tractor model.
• Gap: Provides protection for the difference between the market value of your vehicle and the loan payoff amount in case of a total loss.
• Trailer Interchange: If your carrier or shipper requires you to be liable for damage to non-owned trailers being pulled by your tractor, you will need to have trailer interchange coverage.
• Supplemental Clean-Up and Towing: Additional coverage to help with towing and clean-up costs associated with a covered loss.

Occupational Accident Plans

Along with vehicle insurance coverage, OOIDA also offers occupational accident plans for owner-operators who are not required to carry workers’ compensation.

The plans offer coverage for disability income, accidental death and dismemberment, accidental medical and accidental dental. Identity theft resolution and travel assistance services are also available.

These plans include:

• $500,000 Plan
• $1 Million Plan
• $2 Million Plan

All plans offer coverage (with limits) for:

• Medical expenses
• Accident benefits for air ambulance, chiropractic treatment and home health care
• Dental expenses
• Temporary disability benefits
• Continuous disability benefits
• Accidental death, dismemberment and paralysis coverage
• No deductible and no coinsurance

Drivers pay monthly for the coverage, which is very affordable. The higher the plan, the more coverage is offered.

OOIDA offers affordable insurance for owner-operators, whether working under their own authority or leasing from a carrier.