Inputs
How to Use This Calculator
- Enter fleet size, truck details, mileage, and operating radius.
- Set driver profile and loss history for realistic modifiers.
- Choose coverage limits and enable optional coverages as needed.
- Press Calculate Premium to view results above the form.
- Use CSV or PDF exports to compare multiple scenarios.
Formula Used
This tool estimates an annual premium by combining coverage components and applying risk modifiers. It uses a simplified rating model designed for scenario testing.
- Liability: Base premium by limit × type × radius × cargo × garaging × weight × driver × loss × credits.
- Physical damage: (Insured value ÷ 1,000) × base rate × type × mileage × garaging × deductible factor × credits.
- Optional coverages: Add-ons priced by limits and exposure (cargo, trailer), plus flat adders (roadside, legal).
- Fleet discount: Total × fleet factor (5+ trucks, 10+ trucks, 25+ trucks).
- Range: ± a heuristic band based on violations and claims.
Example Data Table
| Scenario | Fleet | Truck type | Radius | Cargo | Liability | Physical damage | Estimated annual |
|---|---|---|---|---|---|---|---|
| Owner-operator | 1 | Tractor trailer | Regional | General freight | $1,000,000 | On (1,000/2,500) | $9,500 |
| Small fleet | 6 | Box truck | Local | Construction materials | $1,000,000 | On (1,000/2,500) | $41,000 |
| High risk | 3 | Tow truck | Interstate | Hazardous materials | $2,000,000 | On (2,500/5,000) | $78,000 |
Fleet exposure and premium drivers
Annual premium is driven by exposure and modifiers. In this model, fleet size applies a discount after 5, 10, and 25 units, while radius, cargo, and truck type increase the base. A long‑haul tractor with one violation can rate 15–40% higher than a local box truck with clean history, holding other inputs constant. Secure parking and safety programs can offset part of that increase.
Liability limits and rate scaling
Liability is priced from a base by selected limit, then multiplied by factors. Moving from $500,000 to $1,000,000 typically adds about 30–40% to the liability component, while $2,000,000 to $5,000,000 adds smaller incremental cost. Higher limits matter most for interstate routes and hazardous cargo. Pair limits with UM/UIM to keep protection consistent.
Physical damage and deductible tradeoffs
Physical damage uses insured value and deductibles. For example, a $85,000 unit at a $6 per $1,000 base rate produces roughly $510 before modifiers. Raising comprehensive from $500 to $2,500 and collision from $1,000 to $5,000 can reduce this component by 8–15% in the calculator, improving cash flow resilience. Telematics credits also lower physical damage when enabled.
Cargo and route risk indicators
Cargo pricing scales with the cargo limit and cargo factor. A $100,000 cargo limit at $2.2 per $1,000 yields about $220 before adjustments; hazardous and high‑value selections push the factor higher. Radius also matters: shifting from regional to interstate can lift multiple coverages at once, not only liability. Review cargo limits against your peak shipment value, not averages.
Using scenario exports for budget decisions
Use the sensitivity chart to test one change at a time: radius, cargo, deductibles, violations, and claims. Export CSV to compare runs in a spreadsheet, and save PDF snapshots for approvals. For budgeting, track annual, monthly, and the displayed uncertainty range, then prioritize controls that reduce both cost and volatility. Document assumptions alongside each export for audit‑ready records. Re-run quarterly when mileage, routes, or driver roster changes to keep renewal targets realistic again.
FAQs
It estimates an annual and monthly premium using a simplified rating model. It is best for comparing scenarios and understanding which inputs move cost the most, not for replacing carrier quotes.
Operating radius, cargo type, violations/claims, and liability limit usually drive the largest swings. Physical damage also matters when vehicle values are high or deductibles are low.
Pick deductibles you can comfortably pay after a loss. Higher deductibles generally reduce premium in the model, but they increase out‑of‑pocket cost when a claim occurs.
Larger fleets often spread risk and can earn underwriting credits. The calculator applies a simple fleet factor after 5, 10, and 25 units to reflect common pricing behavior.
It is a heuristic band that widens with more violations and claims. Use it to stress‑test budgets and avoid treating a single point estimate as guaranteed.
Yes. Use the PDF export for a clean summary, and the CSV export for detailed inputs and breakdown values. Run multiple scenarios to show the impact of policy choices.