Are you planning to launch a new trucking business in 2025 but uncertain if you can manage your insurance requirements? If so, here is an article that explains why every new trucking business needs to prioritize filing a BOC-3 form. 

Launching a trucking company in America can sound promising. However, as a startup you might need to follow a small number of regulatory obligations that can often involve complex and time-consuming paperwork. The first thing you will need to do is to secure proper insurance that will protect you from business risks and potential damage. 

Many newly established businesses might forget how important it is to have a BOC-3 form to operate legally and responsibly. They can eventually end up buying a bunch of insurance policies to try to be compliant with state requirements. All this will eventually lead to unnecessary anxieties and inefficiencies.

Key Benefits of the BOC-3 form for trucking businesses 

Trucking businesses often adopt numerous strategies to regulate control expenses. One of the best ways to do so is to file an online BOC-3 application form. All this can be done through a registered process agent. This form combines multiple insurance types into one plan and ensures everything is covered in one place, making it easier to protect the company as whole. Here are some additional benefits of the BOC-3 form. 

Insurance management made simpler 

BOC-3 makes it possible to combine all required insurance coverages. This makes it easier for trucking businesses to keep track of their policies and make sure no important area is overlooked. As we already know, a company needs to have a valid BOC-3 form to obtain and maintain its operating authority. Insurance companies require all trucking companies to be in good standing with the FMCSA regulations before a new policy can be issued. Therefore, if you have this form, an insurance company will approve your eligibility in getting the insurance. In short, having this form allows you to pass the underwriting process. 

Cost efficiency 

Companies can avoid the further expenses of maintaining multiple insurance policies by simply obtaining a long-term policy with the help of a process agent. These agents are designated to process legal documents in any state. They will certainly be of help to you by keeping you informed about the latest news and regulations. 

Full coverage 

BOC-3 filings allow companies to strengthen their products and services, making sure the business is protected and safe. Usually, freight carriers are required to have more than one type of insurance, such as cargo insurance and health-related insurance. Having a BOC-3 form substantially facilitates processing all these multiple coverages.

Streamlined Claims Process

Companies now tend to deal with just one insurer instead of managing several insurance claims with different providers. This way the submission process becomes faster and less stressful. Truck companies tend to cooperate with just one insurer to ensure that there are no risks of insurance coverage gaps. Cooperating with a single insurer also guarantees continuous assistance and protection.