Truckers face a lot of requirements and risks when it comes to operating on the road. Although liability requirements may be mandated by the state, other trucking insurance options may not be required but just as important.
Available Trucking Insurance
A lot of the basic insurance coverages you may find on a personal auto insurance policy are also available on a trucking insurance policy, though occasionally under different names. This includes:
- Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the truck caused by fire, wind, hail, lightning, smoke, falling objects, theft, vandalism and other incidents not involving collision.
- Collision Coverage: Collision coverage provides compensation for damages to the truck caused by a collision with another vehicle or object.
- Primary Liability Coverage: Primary liability insurance covers bodily injury and property damage you may cause someone else while operating the insured truck.
- Medical Payment Coverage: Medical payments coverage provides compensation for medical bills you and your passengers may face after an accident, no matter who is at fault.
- Uninsured/Underinsured Motorist Coverage: This insurance covers damages incurred in an accident involving another driver who is not carrying insurance.
While these coverages are basic and found under other vehicle insurance policies, there are specific coverages under trucking insurance geared toward trucks and those operating them. Recommended coverage for commercial trucks includes:
- Truckers General Liability: Truckers general liability covers damages and injuries you may cause while operating the truck on someone else’s property. If the trucker causes damage at a truck stop, for example, this insurance can cover the damages and protect the driver from a possible lawsuit.
- Non-Trucking Liability: Non-trucking liability insurance covers bodily injury and property damage the truck may cause while not operating for business purposes.
- Motor Truck Cargo Coverage: Motor truck cargo coverage provides compensation for loss of or damage to the cargo being transported.
While these coverages are not all required, they are crucial for keeping drivers and passengers safe, as well as protecting individuals and businesses from lawsuits related to an accident.
Keep in mind that these coverages are useful for both trucking companies and owner-operators. However, trucking companies may require different types of insurance or higher amounts of coverage depending on the size of the operation. Business owners should speak to an insurance agent about choosing the right coverage to ensure all drivers and vehicles are kept safe and covered under insurance.
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