Although driving a commercial truck carries risks, the trucking business keeps America moving. Having the proper commercial trucking insurance is crucial to safeguarding your company, drivers, and assets, regardless of whether you are an owner-operator or fleet manager.
What is covered by insurance for commercial trucks?
Typical components of a full trucking insurance coverage are:
Liability coverage guards against potential property damage or bodily harm to other people.
If your truck is damaged in an accident, fire, or theft, physical damage coverage will pay for repairs or replacement.
Cargo insurance guards against loss or damage to the items you’re transporting.
Your truck is covered by non-trucking liability insurance when it is being utilized for non-business purposes.
Workers’ compensation insurance covers medical costs and lost income in the event that an employee is hurt at work.
Why Does It Matter?
Unexpected incidents, malfunctions, and accidents might result in expensive repairs, legal action, or lost income. One mishap could endanger the financial stability of your company if you don’t have the right insurance. Before you may transport loads, many contracts and freight brokers also need proof of insurance.
Selecting the Appropriate Policy
Be aware of state and federal requirements: Depending on the kind of freight you transport, FMCSA regulations mandate a minimum level of liability coverage.
Work with a Specialized Insurance Provider: Because trucking insurance is complicated, a knowledgeable agent can assist you in customizing a policy.
Review and Update Coverage Every Year: Your insurance requirements may alter as your company expands.
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