UIIA Insurance Companies For Your Trucking Company

If you want to haul intermodal containers for the UIIA then you know that they have certain insurance requirements you need to meet if you want to pick up loads in the rail yards.  When it comes to the UIIA, not all insurance carriers are created equal. If you need someone to speak with about your intermodal insurance needs and UIIA insurance companies you can work with, feel free to reach out to us by phone or by using our quick quote form.  We’ll approach several insurance companies on your behalf and we’ll present you with the best quote.

What is Intermodal Trucking?

Intermodal shipping is simply using multiple modes of shipping with the same container.  For example, if you are shipping a container by ship, and then use railroads, and finish it off with a truck to reach your final destination then you are using intermodal shipping.  It doesn’t matter which mode your choose, or in which order, but using at least two modes of transportation is intermodal. When we discuss intermodal trucking, most of the times you are picking up loads from the local railroad yards and transporting that same cargo using your truck tractor.  

Intermodal trucking is a very flexible process for freight shipping because you’re finding the right supply chain solution to maximize value for your customers.  Whether you’re near water or in the middle of the country, different methods of transportation can be found in any region of the country, and what makes trucking so great is that cargo can be picked up from any location and dropped off anywhere as well.  You’re also able to meet some very tight deadlines that you wouldn’t be able to meet by use of ship or air alone.

What Lines of Coverage Does UIIA Require?

The UIIA requires additional lines of coverage that the FMCSA requires, which they only require liability, and needless to say if you add on more lines of insurance coverage then your premium is generally higher.  The same is true for policies that meet the UIIA requirements, they are generally more expensive so you’ll want to make sure that you’ll be able to make up the extra expense through the loads you’ll be pulling.

Here is what will be required of you:

  • Liability coverage – most equipment providers are going to want to see $1M in coverage from you.  This protects a 3rd party if you cause them any bodily injury or property damage.  
  • Cargo coverage – if anything happens to the contents of the container during shipment then the cargo policy would pick up any financial loss that the owner of the goods experiences
  • Hired/non owned auto – provides liability coverage for both bodily injury and property damage while you or your employees drive vehicles for work purposes.  This means that rented vehicles and employee vehicles are covered as long as they are being used for work purposes.
  • Trailer interchange coverage – this coverage protects you in the event of a collision, fire, theft, explosion, or vandalism when there is a contract showing you will be pulling non-owned trailers.  It is essentially physical damage coverage for non-owned equipment.
  • General liability coverage – this is a broad line of coverage and protects you in the event that you cause bodily injury or property damage resulting from your products, services or operations.

Not All Insurance Companies Are Created Equal

Insurance companies can be structured in different ways, one of the ways being a Risk Retention Group (RRG) which is an alternative risk transfer vehicle and isn’t subject to as tight of regulations as your traditional insurance company is.  For this reason, not all UIIA equipment providers will accept RRGs as your liability insurance carrier. Though there are many other equipment providers you can work with, some of the larger EPs won’t accept them and you’ll have to decide if the premium savings that you may get from an RRG is worth the loss of potential business.

Which UIIA Insurance Companies Can Provide Great Quotes?

There are several companies that can provide all the insurance coverage you need, we’ll break them down into traditional and RRG:

  1. Berkshire Hathaway
  2. NICO
  3. AmTrust
  4. County Hall RRG
  5. A-One RRG

How Much Are UIIA Insurance Premiums lately?

The good news is that tacking on the extra lines of coverage is only a small portion of the overall insurance premium while the liability premium still accounts for the large majority.  For new ventures, GL is typically around $500 while trailer interchange and hired and non-owned auto is roughly around the same as well.

If you work intermodal and would like to see alternative quotes for your trucking business then reach out to us, we’d be happy to approach our markets for a more competitive premium.