What Newcomers Should Know About Trucking Insurance


You are looking for a trucking insurance provider, but you might not be confident about what coverage you need to seek. Especially if you're a new driver or someone starting a company, it can be a bit confusing. Newcomers to trucking insurance should talk with agents about these five forms of coverage.

Primary Liability Involving Third Parties

One of the main reasons to invest in trucking insurance is to protect against potential liability involving third parties. Suppose one of a fleet operator's rigs collides with a car on the highway. Worse, the police determine that the driver's conduct led to the accident.

An incident with a truck, even an unloaded one, can involve many tons of force. Consequently, the odds are high that a victim may suffer catastrophic injuries or even die. Also, trucking accidents often cause millions of dollars in damage to other vehicles and surrounding properties. Judgments and settlements in these cases can quickly rise into the millions of dollars, and that can almost instantly put an uninsured fleet operator out of business.

Physical Damage

Every truck also risks suffering damage in accidents where another driver is at fault. In an incident involving a car driver with minimal insurance, though, their coverage might not come close to knocking out the repair or replacement costs associated with a rig or its cargo. If you don't have trucking insurance, you may be on the hook for the balance of the repair bill.

General Liability 

Like any vehicle out in the world, a truck can suffer from incidents involving random and dumb things. A heavy windstorm could blow a large branch into the cab of a rig that's just sitting in a parking lot. Kids might vandalize the truck's paint job. If you're not carrying general liability coverage, you'll have to pay these expenses out of pocket.

Bobtail

A truck without a load and not in a commercial capacity is sometimes called a bobtail. Unless your policy explicitly covers this condition, you may not be insured when driving the rig to and from jobs or the garage.

Cargo

The trucking industry exists to move loads from Point A to B. What happens if the load is damaged? As previously noted, damage from the actions of an at-fault third party may exceed their coverage. Similarly, the damage might happen if a stiff wind hits a trailer broadside and sends the cargo tumbling around. Absent the right trucking insurance policy provisions, there can be huge questions about who if anyone is on the hook for paying damages for the cargo.

For more information, contact a company like Red Ox Insurance Agency, LLC.

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Commercial Insurance Education Options

As a business owner, it is your responsibility to take care of all aspects of your business. You have invested your time and money into your business, and it is your job to protect that investment. One of the best ways to protect your business is by ensuring you have the right type of insurance coverage. Choosing the right type of insurance coverage can be daunting, though. At Free Commercial Insurance Quotes, we understand how challenging it can be to find the right coverage. We are here to educate you on all the various insurance options you can use to protect all the time and money you have invested in your business. The right insurance coverage is attainable with the correct information, which you will find on our website.

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