- Actual cash value (ACV)
- What a truck is worth at the time of loss: replacement cost minus depreciation. Compare with stated value.
- Additional insured
- A person or company added to your policy's protection, often required by shippers and contracts. See general liability.
- Bill of lading (BOL)
- The shipping document describing the load; a signed BOL is needed for factoring.
- BMC-35
- The form an insurer files with FMCSA to cancel your insurance filing. See BMC-91X.
- BMC-91 / BMC-91X
- Insurer filings proving your liability coverage to FMCSA. Explained here.
- Certificate of insurance (COI)
- A one-page summary of your coverage that brokers and shippers ask for.
- Combined single limit (CSL)
- One liability limit covering both injuries and property damage per accident. See primary liability.
- CSA scores
- FMCSA's safety measurement scores, built from inspections and crashes. They can affect your premium.
- Declarations page
- The page of your policy listing coverages, limits, deductibles, vehicles and drivers.
- Deductible
- What you pay before insurance pays on a claim.
- Exclusion
- A situation or item a policy doesn't cover. Where most denied claims come from.
- Garagekeepers
- Covers customer vehicles in your care, common for tow operators.
- IFTA
- Quarterly fuel tax reporting for interstate carriers. Explained here.
- Loss payee
- A lender listed on your policy to be paid if a financed truck is damaged.
- Loss runs
- A report of your claims history from an insurer, used for quoting. See the renewal checklist.
- MC number
- Your operating authority for for-hire interstate freight. See MC vs DOT.
- MCS-90
- An endorsement guaranteeing payment to the public after a crash. Explained here.
- Non-trucking liability (NTL)
- Liability for leased-on drivers when not under dispatch. Explained here.
- Notice of assignment
- A letter telling brokers to pay your factoring company instead of you.
- Occupational accident
- Injury benefits for independent contractors without workers' comp. Explained here.
- Reefer breakdown
- Endorsement covering spoilage from a refrigeration unit failure. See cargo.
- Short-rate cancellation
- A penalty for cancelling a policy before it ends. See switching mid-term.
- Stated value
- The value you declare for your truck; premium and payouts depend on it. See physical damage.
- Trailer interchange
- Covers a non-owned trailer under a written agreement. Explained here.
- USDOT number
- Your safety identifier with FMCSA. See MC vs DOT.