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National average monthly cost for commercial truck insurance ranged from $650 for specialty truckers to $1000 for transport truckers. Remember, these are only averages. Insurance companies use many rating factors to calculate rates, and each can have a big influence on premium.

The average semi truck insurance costs between $3,000 and $5,000 a year for owner operators that lease on to a motor carrier. For an owner operator with their own authority, the average cost is $9,000-$12,000 per truck.

The cheapest state for commercial truck insurance is Mississippi. In some instances, Mississippi's rates are four times less than other states. For example, an estimated cost of insurance in Mississippi is $4,664, while in Georgia it would cost $20,641.

Trucking companies are charged with ensuring that their clients' property reaches its destination safely and on time. Cargo insurance covers loss or damage to freight while in transit. This type of policy often comes with a number of coverage exclusions.

The weight of the truck affects truck insurance rates. Heavier vehicles require higher coverage limits, and so cost more to insure. This is in part due to the amount of damage a heavier vehicle can cause compared to a slower one, as well as the difficulty of stopping suddenly.

Rates for comprehensive coverage or collision coverage on an older vehicle may be lower than what one would pay for those same coverage on a newer car that's worth more. Older cars are typically worth less, as their value depreciates over time.