Four Types of Commercial Truck Insurance

A trucking business is very demanding. You have to look after the welfare of your trucks and your employees. To do this effectively, you need a commercial truck insurance to cover you for unfortunate instances such as accidents, as it will protect you from financial losses during these times.

The threats that commonly jeopardize a trucking business comes in the form of truck damage, vandalism, theft, and injuries. By getting truck insurance, you are protecting yourself from bankruptcy.

The terms of commercial truck insurance may be hard to understand even for the most experienced trucker. But being familiar with the basic terms of this particular insurance will make it very simple to understand. Typically, there are four types of insurance coverage for trucks called as primary liability, truck cargo, general liability, and non-trucking liability.

The primary liability insurance is required by the government to legally drive a truck on the road. This insurance covers all the damages and injuries caused by the truck while on the road. A coverage amount of at least $750, 000 is required to legally drive a truck. Should an accident occur, this amount will be used to cover the damages. If it is not enough, then you have to pay the remaining costs.

General liability, on the other hand, covers the accidents that don't occur on the road. Because trucks stop from time to time, there is a big possibility that accidents can happen during this time. Vandalism and theft are the two most common risks during stops.

Truck cargo insurance ensures that the cargo in your truck reaches its destination safely. Possible theft or loss is also covered by this insurance. This is not mandatory by the government but depends on your client's requirement.

Lastly, a non-trucking insurance is an insurance which covers the times when the truck is in your responsibility such as when it is in the repair shop or in your garage. Getting this insurance is one way of ensuring that you are taking your trucking business seriously as you have all your bases covered.

Basically, these are the four types of insurance coverage for trucks. It is largely similar to auto insurance, but you need to pay a higher premium because it gives you more coverage. If you own or operate a truck commercial truck insurance is not only a must, but it is mandatory. Don't risk your livelihood, innocent bystanders, and property, get adequate coverage today.