On the subject of commercial truck, having insurance is just area of the territory. Regrettably many trucking professionals don't have to essential know-how to find their way through this topic and rely to a great extent on their agent. This can cost you a huge amount of money per year and even thousands of dollars if any sort of accident takes place should you not be properly covered. Let's explore some of the essential coverages.
1. Trucking Liability Insurance - This truck insurance coverage is a requirement by law in order to operate. What this insurance does is provides coverage for any injuries or damages to the other party should you get into an accident with another vehicle. The current minimum coverage required is $750,000 which means this policy will cover all damages up to that amount. It is possible to increase the coverage. If you owe more than the amount this policy covers then the other party's lawyer may come after your income or assets.
The other thing to consider is that this policy does not cover your injuries or damage to the truck you were driving. That is why this policy is almost always found in combination with other policies that provide more coverage.
2. General Liability Insurance - This insurance covers your tuck though it's not in operation. This insurance plan, in addition, provides coverage if your truck if it is damaged during loading as well as unloading, and also if your truck is burglarized or vandalized. These types of policies can be quite complicated and you ought to work with a specialized insurance agent to make sure that you are properly protected.
3. Non-Trucking Liability Insurance - While you are working your trucking insurance is the responsibility of the company for which you are working. Non-Trucking Liability Insurance is the truck insurance coverage that kicks in when you are off the clock.
4. Motor Truck Cargo Insurance - This particular trucking insurance plan safeguards people in the case of destroyed, damaged, as well as stolen freight. The operator is responsible for the cost of the shipment being hauling right up until it reaches the desired destination. In the event that anything comes about as the shipment is in transit, your Motor Truck Cargo Insurance policy may protect you from the cost of covering the cargo. This particular protection, at times, covers the clearing of the shipment should it be spilt upon a highway as well as waterway.
It is imperative that you make sure that you have enough insurance in terms of commercial trucking coverage. If you're caught not in compliance with the requirements set by law, you may have to deal with expensive fines and perhaps losing your own licence. It is in your best interest to work with a highly skilled and specialized agent while looking for insurance. It could possibly be the difference between running a successful business or burning losing it all.
1. Trucking Liability Insurance - This truck insurance coverage is a requirement by law in order to operate. What this insurance does is provides coverage for any injuries or damages to the other party should you get into an accident with another vehicle. The current minimum coverage required is $750,000 which means this policy will cover all damages up to that amount. It is possible to increase the coverage. If you owe more than the amount this policy covers then the other party's lawyer may come after your income or assets.
The other thing to consider is that this policy does not cover your injuries or damage to the truck you were driving. That is why this policy is almost always found in combination with other policies that provide more coverage.
2. General Liability Insurance - This insurance covers your tuck though it's not in operation. This insurance plan, in addition, provides coverage if your truck if it is damaged during loading as well as unloading, and also if your truck is burglarized or vandalized. These types of policies can be quite complicated and you ought to work with a specialized insurance agent to make sure that you are properly protected.
3. Non-Trucking Liability Insurance - While you are working your trucking insurance is the responsibility of the company for which you are working. Non-Trucking Liability Insurance is the truck insurance coverage that kicks in when you are off the clock.
4. Motor Truck Cargo Insurance - This particular trucking insurance plan safeguards people in the case of destroyed, damaged, as well as stolen freight. The operator is responsible for the cost of the shipment being hauling right up until it reaches the desired destination. In the event that anything comes about as the shipment is in transit, your Motor Truck Cargo Insurance policy may protect you from the cost of covering the cargo. This particular protection, at times, covers the clearing of the shipment should it be spilt upon a highway as well as waterway.
It is imperative that you make sure that you have enough insurance in terms of commercial trucking coverage. If you're caught not in compliance with the requirements set by law, you may have to deal with expensive fines and perhaps losing your own licence. It is in your best interest to work with a highly skilled and specialized agent while looking for insurance. It could possibly be the difference between running a successful business or burning losing it all.
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If you need advice on truck insurance or are looking for truck insurance quotes please contact Fleet Risk Management, Inc., the leading experts in Trucking Insurance.
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