The Essential Laws of Services Explained

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What Truck Insurance Coverage Should You Get?

Because of the diversity of the trucking industry, it is also highly regulated. Because of the diversity of applications of commercial trucking, their insurance coverages are also diverse and every application is required to have one. 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.

This is the reason why there are also man different kinds of commercial truck insurance. Special types of insurance are needed for the different ways that commercial trucks are used. If you are a commercial trucking business owner, then you should consider getting these basic commercial truck insurance policies.

Primary truck liability insurance is the most basic insurance required for all commercial vehicles. 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. But, if the accident happens when the trucker is off the job, then this requires him additional coverage if he wants to protect his assets.

What an independent truck owner has to get is a physical damage insurance if his truck gets damaged in an accident, whether he is at fault of not. This is important because the truck is the most valuable asset of a trucker and the truck has to be well maintained and can be repaired if something happens to it.

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.

A comprehensive truck insurance provides total coverage of your own personal assets. This includes primary truck liability, physical damage, and other insurance clauses that prevent against disasters like 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.

Some trucking companies also include cargo insurance coverage in their basic truck insurance. However, independent trucks should get cargo insurance because they will not benefit from the cargo insurance of their hiring fleet if cargo is damaged.

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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