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.
Another thing to consider is that this insurance plan does not handle your incidents or damage to your truck. That's why this insurance plan is always found in conjunction with other policies that include far more protection.
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 - If you are working, your insurance may be the obligation of the outfit for which you work. Non-Trucking Liability Insurance is the insurance that that provides coverage once you are not on the clock.
4. Motor Truck Cargo Insurance - This trucking insurance coverage protects you in the case of damaged, destroyed, or stolen cargo. You are responsible for the value of all cargo you are carrying until it reaches its final destination. If something happens while the cargo is in transit your Motor truck Cargo Insurance will shield you from the cost of replacing the lost cargo. This coverage sometimes covers clean up as well if the cargo is spilt onto a roadway or 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.
Another thing to consider is that this insurance plan does not handle your incidents or damage to your truck. That's why this insurance plan is always found in conjunction with other policies that include far more protection.
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 - If you are working, your insurance may be the obligation of the outfit for which you work. Non-Trucking Liability Insurance is the insurance that that provides coverage once you are not on the clock.
4. Motor Truck Cargo Insurance - This trucking insurance coverage protects you in the case of damaged, destroyed, or stolen cargo. You are responsible for the value of all cargo you are carrying until it reaches its final destination. If something happens while the cargo is in transit your Motor truck Cargo Insurance will shield you from the cost of replacing the lost cargo. This coverage sometimes covers clean up as well if the cargo is spilt onto a roadway or 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 experts in Commercial Truck Insurance.
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