subject: Commercial Truck Insurance: Get The Coverage You Need [print this page] Commercial Truck Insurance: Get The Coverage You Need
Commercial truck drivers understand the need for quality truck insurance. There are a lot of hazards that drivers face every time they hit the road.
Likewise, owners of commercial trucking companies also have a variety of challenges. They have to worry about the trucks they own, the cargo they haul, and the people they employ, requiring a whole different set of truck insurance policies.
Many types of specialized commercial truck insurance are available to meet the needs of both independent owner/operators and trucking companies.
General Liability
This kind of truck insurance is used by trucking companies to cover vehicles and employees from property damage and injury caused by a third party in an accident. It can also refer to a business liability policy that covers risks that stem from day-to-day operation.
Primary Liability
This form of insurance covers the cost of damages to another vehicle and/or person that may result if a driver is at fault in an accident. Federal law requires that all commercial truck drivers be covered under these policies.
Cargo Insurance
This covers the cargo a company may ship but does not own. Independents may need this type of truck insurance policy if the motor carrier does not provide it.
Trailer Interchange
Commonly, companies will exchange trailer hauls under trailer interchange agreements. In these cases, separate insurance is needed to cover these exchanged trailers. In spite of these added insurance costs, trailer interchange agreements often help drivers and companies save money on fuel and other costs, making it a highly beneficial practice.
Physical Damage
This covers this cost of damage to personal property (ex: your truck) in the event of an accident, fire, vandalism, etc.
Non-Trucking Liability Insurance
This is a type of truck insurance coverage designed for independents who want to be sure that their trucks are insured when they are not on a job.
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