The Facts About Commercial Truck Insurance

Posted By: Admin

Commercial truck insurance has been around for many years. However, the need for insurance has grown increasingly while the truckers who are actually holding a policy have decreased. One reason for the decrease in drivers holding insurance is the hike in premium rates. This is a truly unfortunate situation since holding a policy is the most important thing a commercial truck driver can do to protect themselves.

Being a commercial truck driver involves risks that the normal person will never have to deal with. There are rollovers that cause damage to both the tractors and the trailers. Along with damage to the trailers, comes damage to the merchandise that the trucker was hauling, all of which they are responsible for. This is why it is a good reason to have plenty of commercial truck insurance.

There are many types of truck insurance out there and it is crucial that a truck driver has the right coverage. The coverage needed will depend on many different factors. One factor is whether or not their truck is independently owned or company owned. A lot of trucking companies carry full coverage insurance on their employees, and this covers almost all of the liability that a truck driver might have. If a driver owns their own truck, or works for a company that does not carry coverage, they will have to look into another means of getting insurance.

There are many different coverage plans that a driver will have to go through:

1.) Primary liability: This coverage covers and protects the driver from the injury or damaged suffered in an accident.

2.) Motor cargo protection: Covers all of the freight that is being hauled.

3.) Trailer- interchange coverage: This type of truck insurance accounts for the trailer.

4.) Bob-tail coverage: Provided to any trucker leased through the ICC.

Commercial Truck Insurance

Finding the right insurance carrier is not hard, since there are so many to choose from. There are independent companies that specialize in nothing but commercial trucking insurance, and there are insurance chains that cover all motor vehicles.

When signing up for insurance a truck driver must be able to submit certain information such as commercial driver license number, make and model of truck, and the type of insurance they want.

An added bit of information that will be asked for is the number of accidents and the traffic tickets.

Commercial trucking is a multimillion dollar a year business and involves the transport of good from all over the country. A driver works hard to ensure that his load is delivered on time and undamaged. If an accident occurs and the driver is hurt, the last thing that they will want to think about is how to replace what was lost. With commercial truck insurance all of that worry will not be necessary. The driver and their family can focus their worries on recovery, and the trucking company can rest assured that any loss of truck, trailer, and merchandise is covered. This will make everyone happy in the long run.

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