When it comes to commercial truck insurance, you have a lot of options. If you are an independent truck driver or if you are the owner of a trucking fleet, it is important to have a solid coverage plan. However, it is the type of coverage you get that will determine how solid your plan is. The last thing you want is to go with a policy that doesn’t offer the best coverage – because you can wind up losing money or you could be held liable in the event of a major collision. Plus, if you are hauling important merchandise in your trunk, you may want to have those items covered too. Here are some different types of commercial truck insurance.
This is by far the most common form of insurance and, in most states, it is required. If you are an independent driver, you will need a liability insurance policy to cover your truck and yourself in the instance that you get into an accident and it is deemed your fault. If you are a business owner, you will need to get this type of coverage for your entire fleet.
2. Property protection
Another type of insurance that is common for commercial truck drivers is property protection insurance. Trucks are big vehicles and the risk for damage to property is quite big. What happens when you accidentally back up into a closed garage? What happens when you knock down a fence? What happens when you accidentally run over a family pet? Having this type of insurance will have you covered – just in case you damage someone else’s property during a run. If you don’t have this type of insurance, you may have to come out of pocket on any damages incurred.
3. Bodily injury coverage
Because trucks are so large and there is a greater risk for vehicle collisions, injuries are much more prevalent. This is especially the case in major collisions. In order to protect yourself and your business, you want to have this type of coverage – to cover hospital bills, lost wages, lawsuits, funeral costs and legal fees. Bodily injuries as a result of a major truck collision can be incredibly costly – as a business owner, it can end up forcing you to close up shop.
4. Comprehensive insurance
While comprehensive insurance is not a requirement, it still may be a smart policy to have. This is especially the case if you run a business and you have more than a couple of trucks in your fleet. Comprehensive coverage is a policy that protects against random circumstances. For instance, if a bird crashes into a windshield, your policy will cover the repair costs. Comprehensive insurance may be more expensive, but it is definitely worth it.
5. Uninsured motorist coverage
This is another type of coverage that is not necessarily required, but it can really if you get into a collision with another driver that does not have insurance. You can read all about how important this type of insurance is by visiting com – a comprehensive network that covers the trucking industry. Despite the laws, some motorists don’t have insurance, which can put everyone at risk. In the end, this is a coverage policy that will cover all your bases.