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What Truck Insurance Coverage Should You Get?

The truck industry in the country is a very diverse and highly regulated industry. Because of the diversity of applications of commercial trucking, their insurance coverages are also diverse and every application is required to have one. The various applications of the truck industry including hauling goods, building materials, garbage, hazardous materials, refrigerated products, fuel, and others.

The commercial truck insurance also varies according to the usage of the trucking business. Special types of insurance are needed for the different ways that commercial trucks are used. Here are the basic insurance policies that commercial truck owners should purchase.

Primary truck liability insurance is the most basic insurance required for all commercial vehicles. This covers drivers for injuries and damage costs if the truck is involved in an accident where the truck driver is at fault.

Usually it is the business owner that provides the coverage for their employees. Even if the truck is owned by an individual truck operator who is under contract by the company, he is also covered in this type of insurance. The only thing about this set up is that the truck owner needs additional coverage to protect his personal assets and insurance when they are off the job.

An independent truck owner needs to get a physical damage insurance to pay for the cost of damage in an accident, whoever is at fault. This is important because the truck is the most valuable asset of a trucker and the truck has to be well maintained and can be repaired if something happens to it.

Non-trucking liability insurance is ideal for independent contracted drivers to provide coverage when they are not on the job.

Total coverage of your own personal assets can be gained through a comprehensive truck insurance police. What is included in this comprehensive truck insurance are primary truck liability, physical damage, and other insurance clauses like prevention against fire, vandalism, or theft.

Since most motor carriers have a trailer, then trailer insurance is included in their insurance policies. If there is no added provision for trailer insurance in the policy, then this is not included in the basic truck insurance. Truckers who have trailers need to get trailer insurance if it is not included in their basic truck insurance.

Sometimes motor carriers or fleet include cargo insurance in the insurance coverage for their business. But if you are an independent contractor, you should get cargo insurance for damaged cargo because this is not included in the hiring fleet insurance.

If you use many vehicles in your business, then you should get motor carrier insurance. Getting your insurance policies from one company will help you save on annual premiums.

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