Truck Insurance Classification Codes And Descriptions: How Correctly Identifying Your Company Saves Money On Commercial Truck Insurance Policies
Truck insurance is an essential component of any commercial trucking business. It provides protection against financial losses that may result from a variety of risks, such as accidents, theft, and weather-related damage. In order to ensure that you are getting the best coverage for your business, it is important to understand the different types of truck insurance classification codes and descriptions. By correctly identifying your company’s code and description, you can save money on commercial truck insurance policies.
What Is a Truck Insurance Classification Code?
A truck insurance classification code is a numerical code assigned to a trucking operation by an insurance company. This code identifies the type of trucking operation that is being insured, such as a short-hauler, long-hauler, or hazardous materials carrier. This code will determine the types of coverage and rates that will be applied to the policy.
What Are the Different Types of Truck Insurance Classification Codes?
There are a variety of truck insurance classification codes, each representing a different type of trucking operation. Here are some of the most common codes and descriptions:
Short-Haulers: A short-hauler is any vehicle used to transport goods over a distance of less than 100 miles. This type of trucking operation may include pickup trucks, cargo vans, and other light-duty vehicles.
Long-Haulers: A long-hauler is any vehicle used to transport goods over a distance of more than 100 miles. This type of trucking operation may include semi-trucks, flatbeds, tankers, and other heavy-duty vehicles.
Hazardous Materials Carriers: A hazardous materials carrier is any vehicle used to transport hazardous materials such as chemicals, combustibles, flammable liquids, and explosives. This type of trucking operation may include tanker trucks, flatbeds, and other specialized vehicles.
Why Is It Important To Identify Your Company’s Truck Insurance Classification Code?
It is important to correctly identify your company’s truck insurance classification code in order to get the most accurate coverage and rates for your policy. When an insurance company assigns a code to a policy, they use that code to determine the types of coverage and rates that will be applied.
If your company’s code is incorrect, you may end up paying more than necessary for your policy. For example, if you have a short-hauler but are assigned a long-hauler code, you may be paying for coverage that you don’t need.
In addition to getting the most accurate coverage and rates, correctly identifying your company’s code can also help you in the event of a claim. If your code is incorrect, the insurance company may deny the claim or reduce the amount of coverage they provide.
What Are the Steps For Correctly Identifying Your Company’s Truck Insurance Classification Code?
1. Determine the type of trucking operation your company provides.
2. Contact your insurance company and provide them with the type of trucking operation you provide.
3. Ask your insurance company for the specific classification code that applies to your trucking operation.
4. Confirm with your insurance company that the code they have provided is correct.
5. Ensure that the code is listed on your policy.
By following these steps, you can ensure that you are getting the most accurate coverage and rates for your commercial truck insurance policy.
Truck insurance classification codes and descriptions are important components of any commercial trucking business. By correctly identifying your company’s code and description, you can save money on commercial truck insurance policies. To ensure that you are getting the most accurate coverage and rates, it is important to understand the different types of codes and descriptions and to follow the steps for correctly identifying your company’s code.
Truck Insurance Classification Codes And Descriptions
Insurers classify trucking companies both small and large using several coding systems.
SIC CODES: 4212 Local Trucking without Storage, 4213 Trucking, Except Local, 4214 Local Trucking with Storage
ISO General Liability Codes: 99793
NAICS CODES: 484110 General Freight Transit, Local, 484121 General Freight Transit, Long-Distance – Truckload, 484122 General Freight Transit, Long-Distance-Less than Truckload, 484220 Specialized Freight (except Used Goods) Transit, Local, 484230 Specialized Freight (except Used Goods) Transit, Long-Distance
Suggested Workers Compensation Codes: 7228, 7229, 7230, 7231, 7232.
Description for 4212: Local Trucking without Storage
Division E: Transportation, Communications, Electric, Gas, And Sanitary Services |
Major Group 42: Motor Freight Transportation And Warehousing |
Industry Group 421: Trucking And Courier Services, Except Air
4212 Local Trucking without Storage: Establishments primarily engaged in furnishing trucking or transfer services without storage for freight generally weighing more than 100 pounds, in a single municipality, contiguous municipalities, or a municipality and its suburban areas.
Baggage transfer
Carting, by truck or horse drawn wagon
Debris removal, local carting only
Draying, local: without storage
Farm to market hauling
Furniture moving, local: without storage
Garbage, local collecting and transporting: without disposal
Hauling live animals, local
Hauling, by dump truck
Local trucking, without storage
Log trucking
Mail carriers, bulk, contract: local
Refuse, local collecting and transporting: without disposal
Rental of trucks with drivers
Safe moving, local
Star routes, local
Truck rental for local use, with drivers
Trucking timber
Description for 4213: Trucking, Except Local
Division E: Transportation, Communications, Electric, Gas, And Sanitary Services | Major Group 42: Motor Freight Transportation And Warehousing | Industry Group 421: Trucking And Courier Services, Except Air
4213 Trucking, Except Local: Establishments primarily engaged in furnishing “over-the-road” trucking services or trucking services and storage services, including household goods either as common carriers or under special or individual contracts or agreements, for freight generally weighing more than 100 pounds. Such operations are principally outside a single municipality, outside one group of contiguous municipalities, or outside a single municipality and its suburban areas.
Long-distance trucking
Over-the-road trucking
Trucking rental with drivers, except for local use
Trucking, except local
Description for 4214: Local Trucking with Storage
4214 Local Trucking with Storage: Establishments primarily engaged in furnishing both trucking and storage services, including household goods, within a single municipality, contiguous municipalities, or a municipality and its suburban areas.
Furniture moving, local: combined with storage
Household goods moving, local: combined with storage
Trucking, local: combined with storage