The trucking industry has many special needs, especially when it comes to insurance. Here is what you need to know about truck insurance so that your vehicle and business is protected.
Primary Liability Insurance
In order to have a trucking license, you'll need to have primary liability insurance. This is designed to provide coverage for damage caused to another person's vehicle or any bodily injury that happens as a result of the accident. This helps protect the public from any accident that may be caused while a truck is out on the road.
The most common example of primary liability is the damage caused by a simple accident where the driver of the truck is responsible. The other driver may have medical bills that need to be paid and damage to their vehicle that needs to be repaired.
General Liability Insurance
General liability insurance is going to protect your business in a truck were to get into an accident that causes a lot of damage since the insurance protects you from people that are trying to sue your business for additional damages. As part of getting a trucking license, you may need a specific amount of general liability coverage.
For example, if someone were to suffer a bodily injury, general liability is going to give you protection from the potential costs associated with a lawsuit that may come up. If a truck were to cause damage to a structure when on the road, general liability helps cover that property damage that can be quite expensive.
Physical Damage Coverage
In situations where the driver of a truck in your fleet causes an accident, there will likely be damage to the truck that needs to be repaired. Physical damage coverage is going to make sure that your truck gets the repairs necessary to get back on the road so that you do not have to pay for it all out of pocket.
Cargo Insurance
The nature of driving a truck means that cargo is going to be transported across the county. Cargo insurance is actually going to insure the items in the truck that may be damaged as the result of an accident. This gives you the peace of mind that your company will not have to pay for the cargo to be replaced as a result of an accident.
Reach out to a commercial truck insurance provider for more information about additional endorsements you can get for your truck fleet.
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