Commercial Truck Insurance

Trucking Insurance Is Vital for Truckers

Trucking insurance is a little different from other types of insurance. It also covers a wide range of policy types. The insurance needs of a trucker can be very complex. For instance, some drivers may be in need of ‘leased operator insurance’. They have a need, like all drivers, to protect their livelihood. And if they’re leased to a motor carrier, then they’ll be in need of coverage that coincides with their lease agreement.

The trick in this situation is in knowing that, while many employers will offer to provide the trucker with this coverage, if the trucker would shop around, the odds are he/she could find it cheaper by purchasing it for themselves. Plus they would have more flexibility for customizing their policy to suit their particular needs.

Most carriers are going to provide the largest part of the driver’s liability insurance. But it’s a good idea for the driver to buy some of their own damage insurance and ‘non-trucking’ liability coverage. This ensures coverage even if they should be driving the truck on their own time.

Again, trucking insurance is a little different due to the various needs and coverage types involved in covering these drivers. Another form of insurance that’s exclusive to trucking is ‘bobtail’ insurance. This is insurance liability coverage that protects the driver after dropping off a load and the truck is no longer in the act of business on behalf of the carrier. It’s a type of insurance for the trucker that covers the tractor that’s traveling without a trailer.

It may sound like bobtail insurance and non-trucking liability are the same thing, but they’re not. They can be used interchangeably, but they’re still different. The bobtail insurance will cover the tractor even when it’ being driven without the trailer, regardless of if it’s under dispatch or not.

Another form of insurance that’s associated with truckers is ‘Cargo Insurance’. It’s pretty much what it sounds like. The carrier will take out cargo insurance to protect against the loss of any cargo during transportation that’s under their custody and care. The type of freight and it’s value will determine the limits of this coverage. It’s good to be sure about how much is needed prior to shipping, as under-insuring can really wreak havoc on a trucking operation.

For the trucker, trucking insurance can be one of the biggest expenses. But it’s also the most necessary. Financial devastation can occur from one incident of being uninsured or under-insured. And it’s not always the insurance that’s cheapest that’s what you need. Understanding just how much you need, and exactly what type you need, will go a long way to easing your mind about what could happen if an accident occurred.

Trucking insurance is a little different, but in many ways it’s just like other insurances. It’s the same in respect to getting as many quotes as you can for comparisons, and researching the company you want to deal with thoroughly. Go through the different rating services and find some regulatory agencies to check with before deciding who you’ll do your business with. Get a company that’s established a good reputation, even if it costs more than some that haven’t. It’s worth it.

Semi Truck Insurance

No vehicles spend more time on the road than semi-trucks. Millions of miles are logged each year as important freight is moved across the street, or across the country. Trucking in this fashion is one of the cornerstones of the US economy, and the trucks and drivers which perform this invaluable service are often not given their due respect for the work they perform. The importance of semi truck insurance is very important for the truckers as well as the companies that they work for.

As a semi-truck driver you spend long hours behind the wheel to make a living, hours that carry you miles away from the comforts of home and family. You make sure your rig is in good running shape, you know your inspections are done correctly and kept up to date, you know that when you buckle up to leave home you fully expect to be returning to your family safe and sound at the end of the run.

Anyone who has driven any length of time knows that the open road is a dangerous place, you not only have to stay alert and focused on your own driving, but watching the driving habits of others is a constant stress. Most people have driven past crashed autos on the highway and been thankful that they weren’t involved, but statistics show that it’s only a matter of time until even the best drivers are involved in a traffic accident.

semi truck insuranceConsidering the millions of miles logged each year by truckers in the US, the importance of semi-truck insurance can’t be overstated. Besides the fact that truck insurance is required for most truck owners, it is an absolute necessity for the protection of the driver.

With semi truck insurance, like most other things, the cheapest option isn’t always the best. While it’s true that insurance is a major cost for most companies and owner-operators, it only takes one accident for that insurance to be the difference between continued success and possible bankruptcy or criminal charges. Therefore it is of the utmost importance to get the best semi insurance policy you can.

There are a number of options in semi truck insurance. Policies can be had which cover not only liability and collision, but also such things as fire, theft, CDC, load insurance, workman’s compensation as well as a plethora of other insurance needs.

There are so many options that it pays to sit down and figure exactly what types of coverage you need before shopping for semi truck insurance. Then go out and shop around. Do not be afraid to get multiple quotes from multiple companies until you find the policy that best fills your needs. After finding your prospective insurance company, be sure and check out the company before buying. There are numerous government agencies and rating services which can give you the information you need. It’s best to ask questions and become familiar with your chosen insurance company’s claims processing policy before you need it.

Once again, the importance of semi-truck insurance can’t be overstated. Before you put your rig on the road be sure that you have exactly the policy you need, and remember the cheapest option is not always the best option.

Tow Truck Insurance

The tow truck drivers in your town should receive awards for bravery. They put their lives on the line every day to help a stranded motorist on the freeway or in a bad neighborhood. Because it is such a risky career it is very important that they carry tow truck insurance.

Commercial tow truck insurance is very important for a few different reasons. The first is the most obvious. A tow truck operator is taking the responsibility for vehicles that do not belong to the company. The cars that are picked up range in value from some that are very expensive to the least expensive models.

If damages occur to the vehicle during hook up or during the tow the tow company will be held liable for the damages. If they do not have a good truck insurance policy then the company could face the possibility that they will be forced to go out of business.

Another reason that commercial tow insurance is very important is the risk that the drivers put themselves through when the service vehicles. Many tow truck operators have to hook up to vehicles while they are on the freeway or a very busy street. They have to assist motorist with tire changes, which requires them to get close to the ground and in many cases on the side that faces fast moving vehicles.

Tow Truck InsuranceIf a tow truck driver is struck while trying to service a customer’s vehicle it can lead to a very serious injury or even death. Truck insurance is very important in this case. The pay out for the damage to a person’s vehicle or to the tow truck driver can be very expensive.

Finding commercial truck insurance for tow truck vehicles is more expensive than a normal auto insurance policy. The prices have to be higher because the risk is so much higher for the driver. The driver of a tow truck finds themselves in dangerous situations many more times a day then someone that is driving a normal car or truck.

The commercial vehicle insurance companies have to account for the extremely large payouts that are possible when the plan has to be exercised. In order to be able to make the larger payments for damages, they have to raise the monthly costs for the policy itself.

Hopefully, any tow truck driver would be more careful and pay closer attention to their surroundings than the average motor vehicle operator. While this is true, the tow truck operators are human as well. They get tired and distracted like any other person. Accidents happen to them as well as anyone else. While they are there to provide a service to a stranded motorist, they too can make a mistake.

Tow truck insurance is a very important part of the towing business. It allows the business owners to operate with the comfort that if something terrible happened to a driver or to a customer’s vehicle then they will be covered. Just knowing that they are protected allows them to continue providing excellent service to their customers.

Dump Truck Insurance

Driving a dump truck comes with certain hazards attached to it. If driving commercially, dump truck insurance is needed in order to defend all those that are involved. Over the years, rigs have gotten bigger, which makes the likelihood of tipping over greater. These accidents tend to occur more with semitrailers than with straight trucks. The statistics of these happenings are not very accurate. If no one is injured during one of these tipping episodes, no report is filed. Only a couple reports have been made in the past two years. One of these was actually a fatality, while one was a serious injury. These instances were both caused by dump trucks tipping over.

Insurance is needed for dump trucks hauling commercially, no matter what sort of materials are being transported. Various forms of materials being hauled include; removal of construction materials, aggregate (sand, gravel, asphalt), asphalt for road and foundation construction or snow and ice removal in the winter. Companies specializing in the hauling of aggregate usually provide Primary Liability Insurance coverage for their drivers. This part of dump trunk insurance will include coverage for bodily injury and property damage.

dump truck insuranceWhen dump trucks are used for removal of snow and ice, off-season insurance can be changed. The operator of the dump truck being used for winter only can switch to a policy known as the comprehensive policy. This enables the driver’s truck to be insured during off-season, but the regular commercial truck insurance policy doesn’t have to be renewed or canceled with each season. Dump truck insurance needed for commercial operation falls under commercial vehicle insurance.

This type of insurance is used by; individuals, small or large fleets, owner operators, or entire trucking companies. This type of coverage is needed in order to protect operators of dump trucks, as well as all others involved. Coverage of bodily injury, as well as property damage are both included in this.

Bodily Injury/Property Damage Coverage

When injuries or death to another person occurs, or even if the individual carrying the insurance is to blame for the accident, this part of the dump trunk insurance will be covering it all. Also what is covered is; sickness, pain and suffering, lost wages, medical costs, or death of the other party. Any legal costs accumulated are also covered. Property damage coverage takes care of any damage the dump truck that is covered causes to someone’s property, if the insured is thought to be at fault. Legal costs for this are also covered.

Physical Damage Coverage

Coverage in this section about dump truck insurance is used in case a collision or overturn results in damages or loss of the dump truck which is insured. Other coverages include damages from fire, vandalism, theft, contact with an animal, or a windstorm. If coverage for fire and theft are joined with a combined additional coverages, this will ensure coverage from loss or damage of the dump truck due to specific instances. Events that are included in this portion of the dump truck insurance include; lightning or explosion, flood, windstorms or hail, earthquakes, collision with an animal, vandalism, or happenings which occur while the insured dump truck is transported by a third party.

Insurance that is used for dump trucks is needed when hauling all types of materials. Dump truck coverage isn’t just for protecting the driver, but also the owner, and anyone else involved. This doesn’t cover just physical beings either, but includes property of all involved with the insured vehile. Insurance is something that is definitely needed when providing services commercially with a dump truck.

Things To Know About Commercial Trucking Insurance

One of the top priorities for all truck drivers and owners is maintaining the safety of their vehicles, including its drivers and cargo. Commercial trucking insurance companies provide policies which are specifically tailored to all kinds of individual needs in order to best assist in safeguarding against situations such as accidents, thefts, hijacks, and mechanical failures.

A thorough knowledge of the risks particular to the truck, its cargo, the driver and route – among several other factors – is required in order to select the most suitable commercial trucking insurance policy for your particular circumstances. It is the responsibility of the owner, driver or supervisor to know and understand the difference between their truck’s needs and those of other trucks, as these are the guidelines by which different trucking insurance policies are defined. This is a complicated yet critical aspect of selecting the right policy.

Of course, standard commercial trucking insurance policies are available. They provide basic coverage among three categories labeled “Human, ” “Cargo, ” and “Machine, ” and generally cover only what is common among most trucks.

Owners or drivers whose trucks often encounter more unusual scenarios need to have a more customized commercial trucking insurance policy designed for them. For example, a truck making special deliveries to Alaska should have its policy details harmonized with the risks associated with these kinds of conditions.

Circumstances like the above best demonstrate why knowing all the risks related to your truck is vital in selecting the commercial trucking insurance policy that can ensure the most safe and sound operation of the truck, its driver and its contents.

Another important thing to know is that trucking insurance accomplishment records will be transferred from one insurance company to the next if the insured decides to switch companies for any reason. For example, in the event of any accidents that are not covered by the existing policy, it would be just about impossible to avoid ending up with a higher deductible. This is a very good reason why it is imperative to know exactly what kind of policy is required prior to selecting one.

Selecting a policy that does not fully suit the truck’s all around conditions is clearly an impractical option as it can ultimately lead to higher, permanent costs. For this reason and others, it is best to fully consider each and every possible risk your truck may encounter at any point while in operation, including natural disasters common to the truck’s route, and then to select the commercial truck insurance policy that will provide coverage for each of those risks.

Ultimately, the only way for a truck owner or operator to ensure that the truck, its driver and its cargo are protected to the full available extent is by being well acquainted with the truck itself, the driver, and cargo in addition to conducting comprehensive research of the risks involved. Trucks operating in California require completely different policies than those operating in Alaska, so it is necessary to know those differences in order to select the best trucking insurance policy for you.