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A Guide to Truck Insurance Coverages

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. You will find different applications for the trucking industry and some of these include hauling goods, building materials, garbage, hazardous materials, refrigerated products, fuel, and others.

So, with the many applications in the trucking industry, there is also a diversity in the kinds of commercial truck insurance. There are special types of insurance for each applications of commercial trucking. If you are a commercial trucking business owner, then you should consider getting these basic commercial truck insurance policies.

If you are an owner of commercial vehicles then you are required to get primary truck liability insurance. With this insurance, the driver is covered for his injuries and damaged to the truck if it is involved in an accident where the driver is at fault.

Usually it is the business owner that provides the coverage for their employees. This type of insurance also covers independent operators who is under contract by the company. The only thing about this set up is that the truck owner needs additional coverage to protect his personal assets and insurance when they are off the job.

An independent truck owner needs to get a physical damage insurance to pay for the cost of damage in an accident, whoever is at fault. The importance of this insurance is obvious; every truck owner needs to protect his asset.

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If you are working for a trucking business under contract and your truck gets damaged outside of your contracted job, then the best insurance to protect your asset is a non-trucking liability insurance, if the accident is your fault.

If you want to provide total coverage of all your own personal assets, then you should get a comprehensive truck insurance. What is included in this comprehensive truck insurance are primary truck liability, physical damage, and other insurance clauses like prevention against fire, vandalism, or theft.

Trailer insurance is often included in the insurance policy of a motor carrier because most trucking companies own a trailer. Trailer insurance is only included in the basic truck insurance policy if there is a specific additional provision for it. So, truckers are aware that trailer insurance is not specifically provided for in the basic truck insurance and is a different kind of insurance.

Sometimes motor carriers or fleet include cargo insurance in the insurance coverage for their business. If you are under contract with a trucking business, it is important for you to get cargo insurance because you are not included in the coverage of the company.

Motor carrier insurance includes coverage for all types of vehicles used for your business. The best way to save on annual premiums is to bundle all your insurance policies within one company.

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