Do You Run a Trucking Company? What Type of Insurance Do You Need?
If you run a trucking company, it’s important to get trucking insurance for covering your trucking services. Depending on the type of truck your drivers drive, the goods they deliver, and the number of years of experience, you’re going to choose the type of insurance.
The trucking insurance plan should include different types of coverages, so, to identify the options you need, it will be helpful to go through an understanding of each type of coverage, and how they work to benefit your company.
What is commercial trucking?
Commercial trucking insurance is a type of coverage that protects you from costly bills due to any truck accident. If you drive a new truck, you probably know that you’re required to have auto insurance to stay legal on the roads.
Commercial trucking insurance covers some circumstances where you use your truck to transport all kinds of goods, animals, vegetables, materials, and so on. You’re required to have liability coverage, as this is part of the trucking license to protect yourself and your drivers from damage your trucks can cause. But there are also other many different types of company trucking insurance you should take into considerations, such as:
Other Types of Commercial Trucking Insurance
What does commercial truck insurance coverage include?
Each state requires general liability insurance, as this protects your company in case your driver causes bodily or property damage due to an accident. It covers a driver’s actions, and it also operates on the other person’s grounds, like loading docks, or truck stops.
Primary auto liability
As already mentioned, you’re required by your state’s law to have insurance coverage for your truck company. Liability insurance will protect you when the other driver becomes injured in case of an accident.
As it’s also called non-trucking liability insurance, Bobtail is a type of insurance coverage for commercial truck companies, which is used for personal matters, like when you’re not driving your commercial trucks for commercial purposes. You will be covered by the commercial auto insurance policy for trucking companies.
Having Bobtail insurance from Insuranks will provide your trucking company with complete coverage, not only for property but physical damage. So, combine the two policies and help pay for the damage caused to another party on the occasion of a truck accident caused by one of your drivers. This will help you deal with insane damage costs.
Physical damage coverage
This policy will help you pay for commercial truck repairs from damage like collisions, natural disasters, vandalism, and theft. If your truck becomes damaged after the repairs have been made, this type of coverage will replace it.
As your trucking company changes and continuously grows, it’s important to also change your trucking insurance requirements. Once a year, reevaluate your trucking company’s needs and see if you’re still under full protection. Choose an independent provider and get the truck commercial insurance policy your company needs.