Heel;
Are you sure that you pay for all of the insurance??
FHWA (ICC) authorized "For-hire" carriers are required to obtain and maintain primary liability coverage when applying for the authority. This coverage protects the general public while the vehicle is operating on the highway.
Most carriers also provide, and pay for cargo insurance. The independent contractor/driver may be responsible for any deductible on this cargo coverage, if negligent. Deductibles are GENERALLY $1,000. This is the primary reason most carrier companies will retain an "escrow" from their indendent contractor/drivers.
Some companies do have their contractors pay for cargo coverage on their own.
Now, since the carrier company's insurance company is liable to the general public for any bodily injuries or property damaged caused by the carrier's vehicle (owned by an independent contractor/driver, or by a company owned vehicle) the insurance company has the right to set hiring standards for those drivers insured. This is not discriminatory as insurance is a business risk - not employment. Most insurance companies today are setting more stringent hiring citeria for carriers because of the "hard" insurance market. The 9/11 incident, hurricanes and other disasters are causing the underwriting insurance companies to show profit from their "books" or policies that they actually write - not from investments. To make these profits the insurance companies and carriers must decrease the amount of claims. In an effort to reduce claims more stringent hiring policies are being implemented to ensure that "marginal" drivers and their associated risks are not being hired by the insured carriers.
Most insurance companies have requested that carriers increase the minimum age of drivers, that the potential driver have increased experience in the type of vehicle he/she is intending to operate, and that the potential driver have fewer and fewer moving violations on their MVR. The insurance companies (and the DOT) have also implemented tougher "disqualification" offenses such as DUI/DWI, reckless operation, speed over 15 mph. etc... These are all now "major", possibly "disqualifying" offenses.
I hope that this info helps you understand the mechanics of truck insurance. Should you have further questions please ask.
Thanks,
HotFr8Recruiter