Did you know that there are more than 2 million active semi trucks that make up all of the commercial trucking fleets in the United States of America? A big part of trucking safety when it comes to the trucking industry is making sure that your trucking fleet and your truck drivers have the best trucking insurance possible.
There are many risks and dangerous situations that you encounter as a long haul trucker. It is important to know your insurance options so that you know the best options for your needs. This ensures that you’re covered no matter what happens on the road.
The good news is that you’ve come to the perfect place for some helpful trucking tips for choosing the best trucking insurance. Keep reading this article to learn more.
General Liability Insurance
One of the main types of insurance that you need to consider for your commercial trucking business is general liability. This type of insurance is often referred to as public liability insurance as well. Getting this type of commercial trucking insurance is a wise move. It covers both property damage and injuries that happen to third parties as a result of business activities.
This type of insurance is great. It covers a customer or client if they slip or trip over something inside of one of your trucking warehouses. It is a great idea to get this type of insurance because you never know when or how an accident will happen. This insurance covers their medical and legal bills if something like this happens to them.
This is a type of insurance that commercial trucking businesses are required to have. It is one of the trucking insurance basics. It provides a great deal of protection in case something happens to a person visiting your facilities. Keep in mind that your drivers don’t require this type of insurance coverage.
Trucking Liability Insurance
Another insurance type that you need to consider getting is trucking liability insurance. This type of insurance is a must-have. It covers the injuries and property damage that happens if one of your trucks or truck drivers gets in an accident.
The standard minimum when it comes to trucking liability insurance is around $750,000 in liability coverage. This is for truckers that haul non-hazardous materials. If you’re a truck driver that hauls hazardous materials then that coverage needs to be even higher. There are also minimum levels of trucking insurance that the state your truck is registered in requires.
If you choose to get trucking liability for your trucking business then it will require each truck in your fleet to get on the insurance policy. If a truck that isn’t listed on your policy gets in an accident then it is likely that you won’t get money for the insurance claims after an accident.
Non-Trucking Liability Insurance
This type of insurance is quite similar to trucking liability insurance. It covers injuries and property damage for third parties in the event that you get in an accident. The difference is that this type of insurance covers your drivers if an accident happens during activities that aren’t related to business.
This would be something like an accident that occurs if you’re getting groceries or food in your truck. Your insurance would cover all of the payments that are required to cover the injured person’s property damage expenses and their medical bills.
This type of insurance is common for truck drivers that are under lease. Trucking liability could also provide coverage for these leased drivers. That only applies when the driver is hauling some type of cargo. If they’re doing any driving to get around and take care of errands then they need to have non-trucking liability coverage.
Bobtail Insurance
Bobtail insurance is an interesting type of trucking insurance coverage. This type of insurance coverage covers a gap between non-trucking liability and trucking liability insurance coverage. Bobtail insurance will make sure that your driver is covered when they’re driving on business duties but without cargo in the truck.
This type of insurance is essential for truckers. It makes sure that your driver has coverage during the gaps between different jobs in different locations. It is great because it will help to pay your legal bills in the event that you get in an accident and someone sues you. It is likely that leased drivers will be required to have Bobtail insurance coverage.
Don’t get Bobtail insurance confused with non-trucking liability insurance. While these two types of insurance are similar, they cover very different things and both are important to have.
Physical Damage Insurance
Physical damage insurance is vital for any truck driver and trucking fleet. This type of insurance covers damage that happens to your truck as a result of accidents and maintenance issues. It will also ensure that your trucking fleet is covered from natural disasters, vandalism, and theft.
There are no legal requirements when it comes to physical damage insurance but it is still wise to get this coverage. This is especially true for drivers that own their trucks. If you plan on financing a truck then the lender will require this type of commercial trucking insurance.
Motor Truck Cargo Insurance
The last type of insurance in this article is motor truck cargo insurance. This insurance covers the cargo you’re hauling from Point A to Point B. It makes sure that you get the money for damaged or stolen cargo. It isn’t required by law but it is another trucking industry insurance coverage that will make sure your business is covered no matter what happens.
Now You Know All About Commercial Trucking Insurance Options
There are many different types of insurance coverage when it comes to commercial trucking and it is important that you get the right ones. Some, like trucking liability insurance, are required by the law. Others, like motor truck cargo insurance, are not required but will cover you in the event that something happens to your cargo.
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