Securing your Investment: The Essential Insurance Policies for Trucking Companies
Commercial trucking insurance is essential for an owner-operator or small business service provider. Getting insurance for new trucking company varies depending on the type of trucks your drivers are driving, their number of years of experience, the goods they are carrying, and the risks incurred. Commercial Trucking Insurance is a vital type of coverage to protect you from expensive bills if any of your trucks gets involved in an accident.
Here in, we will discuss the types of trucking insurance;
1. Primary Auto Liability
As per Federal regulations, you are required to have this insurance coverage. Besides, everyone in your truck, including leased units, should carry commercial truck insurance. Furthermore, liability insurance will protect you even when a third party is injured in an accident.
2. General Liability
Every state needs general liability coverage to protect you if one of your drivers causes bodily damage or property damage because of a crash, including a load delivery mistake.
3. Physical Damage
Physical coverage will pay for trailer repairs or commercial trucks from damage by things like,
● Collision
● Vandalism
● Natural disasters
● Theft
4. Motor-truck Cargo
The premium will depend on the freight type if the cargo on one of your commercial trucks is damaged or lost.
5. Rental Reimbursement
When your vehicle is being repaired, the rental reimbursement provides you with money to rent a replacement truck.
6. Trailer Interchange
Trailer interchange insurance is essentially for non-owned trailers and provides physical damage insurance for trailers being pulled under a
trailer interchange agreement. Moreover, this insurance protects you if your trailer is damaged by fire, collision, theft, vandalism, or explosion.
7. Reefer Breakdown Coverage
If you own refrigerated trucks, reefer breakdown coverage covers the cost of things like,
● Lost Cargo
● Refrigeration breakdown
● Damage of products due to collision.
For further information and queries about truck insurance or insurance agency, contact us at Preventty, and obtain the appropriate policy according to your needs and budget.