Key Takeaways
- Protect your trucking business by correctly filing all required insurance paperwork with state and federal groups.
- Organize your company’s legal standing by submitting specific forms like MCS-150 and Form E to show proof of insurance.
- Contribute to safer roads for everyone by maintaining the legally required liability insurance for your commercial trucks.
- Learn which government forms, such as BMC-91 and Form H, are necessary for your Texas trucking company to operate legally.
If you run a trucking company in Texas, it is your responsibility to file the proper paperwork for commercial truck insurance.
These filings serve as legal proof to regulatory authorities that your trucking company complies with the state-mandated liability coverage requirements. This ensures that your company can cover damages if one of your commercial trucks is involved in an at-fault accident.It is important to acknowledge the fact that trucks are capable of causing extensive damage to property and individuals in the event of a collision. Having the right trucking insurance (Texas) and submitting accurate, up-to-date filings ensures the safety of everyone on the road. As a trucking company, you must comply with the following trucking and commercial truck filings required by federal and state laws.
Motor Carrier Filings
According to the Federal Motor Carrier Safety Administration (FMCSA), interstate trucking companies that operate commercial vehicles weighing over 10,000 lbs. must register and file proof of minimum levels of insurance. As a trucking company, you can do it by filing a motor carrier (MC) number.
Here’s what you must submit to obtain an MC number.
- Form MCS-150: This form provides company information like name, address, number of vehicles, cargo hauled, etc.
- Form BMC 91 or 91X: This form explains whether the company has the minimum insurance mandated by federal law. This form covers details like policy number, insurer, effective dates, limits, covered trucks, etc.
- Form BMC 34: This form contains the list of agents who are authorized to request DOT numbers for your company vehicles.
- BOC-3 (Designation of Agents for Service): This form offers contact information for the insurance agent who will receive legal correspondence.
Apart from these primary filings, the FMCSA regulates the designation of process agents, accident registers, and other compliance paperwork. If your company is an interstate motor carrier, you must renew and maintain current filings to legally transport goods across state borders.
State Insurance Filings
Besides the federal requirements, your Texas trucking company must also comply with state commercial insurance laws. Most states mandate a minimum liability coverage, with larger amounts required for trucks over 26,000 pounds gross vehicle weight rating (GVWR). In the state of Texas, state law mandates $500,000 worth of liability insurance for trucks that are heavier than 26,000 pounds and are carrying household goods.
Cargo and uninsured/underinsured motorist coverage are also required for commercial truckers. In order to operate legally in a state, trucking companies must file proper proof of this insurance. The state of Texas requires Form E, which is uniform proof of liability insurance and self-insurance filings. Keeping the evidence of insurance on file for each state of operation helps your trucking company avoid fines and suspension of license. While most states have similar forms, there are a few states that do not require separate state-level insurance filings besides the federal ones.
Insurance Carrier Filings
Your insurance carrier will have to submit several filings on your trucking company’s behalf after purchasing a commercial truck policy. These filings include:
- Form MCS-90: This form is filed with the FMCSA. It shows that the insurer will pay up to the federally mandated minimums if the trucker’s policy limits are lower.
- BMC-35: This form includes the list of all covered vehicles with the VINs and policy details. Any update to the details must be filed within 30 days of adding/deleting vehicles.
- IFTA Decals Request: Your trucking company needs to file this request to get IFTA stickers that indicate proper fuel tax licensing.
- UCC-1 Financing Statement: This document protects an insurance company’s financial interest in any covered vehicles it is financing.
- Form H: This form is meant to report a commercial truck accident to the state’s Department of Transportation.
Wrapping Up
Failing to meet these insurance requirements not only increases risk but can significantly impact your trucking operations. By understanding your coverage, maintaining accurate filings, and working with trusted insurance partners, you can stay compliant while having a competitive edge in a high-risk industry.
