How Do I Price My Hot Shot Trucking Services?
- Nate Jones, CPCU, ARM, CLCS, AU
- 4 days ago
- 3 min read
Updated: 1 day ago
Pricing your hot shot trucking services correctly is one of the most important steps to running a profitable and sustainable business. Whether you're just starting out or looking to refine your pricing strategy, understanding the key factors that influence your rates will help you stay competitive and cover your costs.
In this guide, we’ll break down how to calculate your rate per mile, what expenses to consider, and how to adjust your pricing based on market demand and load specifics.
What Is the Average Rate Per Mile?
As of 2025, hot shot trucking rates typically range from $2.40 to $3.20 per mile, with urgent or specialized loads sometimes reaching $4 per mile
These rates vary based on location, load type, urgency, and competition.
Step-by-Step Guide to Pricing Your Services
1. Estimate Your Expenses
Start by calculating all your monthly business expenses:
Truck and trailer payments
Fuel costs
Insurance premiums
Maintenance and repairs
Permits and tolls
Your salary and savings
2. Calculate Your Base Rate
Add up all your expenses and divide by the number of miles you expect to drive monthly. This gives you a base rate per mile. Add a 10–20% margin for profit and unexpected costs
3. Adjust for Load and Location
Consider these variables:
Type of load (oversized, hazardous, partial)
Urgency (same-day or overnight delivery)
Route complexity (urban vs. rural)
Deadhead miles (empty return trips)
🔗 Truckstop – Rate Negotiation Guide
4. Research Market Rates
Compare your calculated rate with current market averages. Use load boards like Truckstop or DAT to check going rates in your area and adjust accordingly.\
🔗 Truckstop Load Board
5. Consider Backhauls
Avoid driving empty by booking return loads. This helps offset fuel costs and increases overall profitability.
Common Pricing Mistakes to Avoid
Underestimating fuel and maintenance costs
Ignoring deadhead miles
Not adjusting for urgency or special handling
Failing to research competitor rates
Ready to Start Pricing Your Hot Shot Trucking Services Confidently?
Let Wexford Insurance help you protect your business while you grow. We specialize in hot shot trucking insurance tailored to your needs whether you're just starting out or scaling your fleet.
Recommended Insurance Coverage for Hot Shot Trucking:
Commercial Auto Liability – Covers bodily injury and property damage caused by your truck.
Cargo Insurance – Protects the freight you haul from damage, theft, or loss.
Physical Damage Coverage – Covers your truck and trailer in case of collision, theft, or vandalism.
General Liability Insurance – Covers non-driving-related third-party claims.
Non-Trucking Liability – Covers your truck when it’s used for non-business purposes.
Workers’ Compensation – Required if you hire drivers or staff.
Final Thoughts
Setting the right price for your hot shot trucking services is a balancing act between covering your costs and staying competitive. By calculating your expenses, understanding market trends, and adjusting for load specifics, you’ll be able to build a profitable pricing strategy.
Wexford Insurance is here to support your journey. We specialize in transportation and logistics insurance, helping hot shot trucking businesses get the coverage they need to operate confidently and legally.
