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What Truck Insurance Coverage Should You Get?

Because of the diversity of the trucking industry, it is also highly regulated. The commercial truck industry has a very wide applications and it is required that each of these applications must have a truck insurance coverage amount. The various applications of the truck industry including hauling goods, building materials, garbage, hazardous materials, refrigerated products, fuel, and others.

This is the reason why there are also man different kinds of commercial truck insurance. Special types of insurance are needed for the different ways that commercial trucks are used. Below are some of the common types of insurance policies that owners of commercial trucks should get.

If you are an owner of commercial vehicles then you are required to get primary truck liability insurance. If your driver is at fault in an accident, this insurance covers for his injuries and damage costs for the truck.

Coverage for truck drivers and other trucking employees are provided by the business owner. 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. However, independent truck owners also need to protect their personal assets when they are off the job so they also need additional coverage for this.

In the event of truck damage, whoever fault the accident was, the independent truck owner would do well with a physical damage insurance. 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.

A comprehensive truck insurance provides total coverage of your own personal assets. In this comprehensive policy, you will have primary truck liability, physical damage, and other insurance clauses that prevent against theft, vandalism, or fire.

Since most motor carriers have a trailer, then trailer insurance is included in their insurance policies. Trailer insurance are usually not included in the basic truck insurance if there are no specific additional provisions. Truckers who have trailers need to get trailer insurance if it is not included in their basic truck insurance.

Some trucking companies also include cargo insurance coverage in their basic truck insurance. However, independent trucks should get cargo insurance because they will not benefit from the cargo insurance of their hiring fleet if cargo is damaged.

Truck fleet owners can also get motor carrier insurance which includes the same policies for regular trucks but will also cover all the vehicles they use for the business. If the trucking company or motor carrier want to save on annual premiums, then it is good to bundle all their insurance policies within one company.

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