What type of insurance coverage must I have for my own authority?
Standard coverage for your Own Authority is Auto Liability and Cargo. Minimum limits for Auto Liability are $750,000 and Cargo minimum limits would be $50,000-$100,000.
How many years experience must a driver have to be qualified for insurance?
Pennco Insurance Services require the drivers to have at least 3 years experience but will consider a driver with 2.5 years with a clean driving record.
Will the drivers I hire effect my monthly premium?
Hiring a qualified driver with at least 3 years of experience and clean driving record will keep your premium at a lower monthly rate.
What is the difference between Collision and Comprehensive Physical Damage coverage?
Collision Insurance covers damage to your vehicle in the event of a covered accident involving a collision with another vehicle… Comprehensive car insurance pays for damage to your vehicle caused by covered events such as theft, vandalism or hail, which are not collision-related.
Can I purchase Bobtail and/or Non-Trucking Liability without being leased onto a motor carrier?
Owner-Operators must have a signed lease agreement with a motor carrier to obtain Bobtail coverage or Non-Trucking Liability.
What if I purchased a truck from a dealership and need to move it but I’m not leased onto a motor carrier yet?
The truck can have Physical Damage only unless you purchase a Trip coverage policy which provides the Liability needed to move the truck from point A to B. We offer 3 day, 10 day, and 30 Trip coverage policies.
How do I make a motor carrier change or lienholder update?
You may contact our office directly at 800-262-1443, text our office the request at (941) 342-1915, or you may send an email to support@penncoinsurance.com.
Will a claim be denied if I did not notify Pennco Insurance Services that I have hired a new driver and that driver has an accident?
There is a possibility the insurance carrier will deny a claim if the driver is not on file as an active driver under your policy.
When is my insurance premium due?
All insurance premiums are due on the 1st of every month.
Are there any late fees if payment is not made on time and my coverage cancels?
There is a $25.00 late fee applied to any policy that we have cancelled due to non-payment of premium.
Will I be notified if my payment gets declined on the 1st of the month?
Pennco Insurance Services will contact you by email, phone call or text message about your late or declined payment.
Is there a fee for a NSF (non-sufficient funds) check?
Yes, there is a $10.00 returned check fee for a NSF (non-sufficient funds) check.
How do I report a claim?
You may call our office at (800) 262-1443 or go to our website www.penncoinsurance.com to fill out the claim form directly to us. Our office hours are Monday – Friday from 9:00am to 5:00pm EST.