If you're an owner/operator, you need to have the right insurance for your truck. When you're an owner/operator, you're solely responsible for your livelihood. One way to protect your investment is to carry the right protection for your truck. It's not enough to have a commercial truck insurance policy. You need to have the right coverage on your policy. Not sure what type of coverage you need for your commercial truck? Read the list provided below. If your current policy doesn't include the coverages described here, it's time to update your insurance policy.
Physical Damage
When you own a commercial truck, you need to know it's protected against physical damage. Unfortunately, most commercial policies don't include this type of coverage. That's why you need to add it to your policy. A physical damage policy protects your truck against theft, vandalism, and natural disasters. And, if the damage can't get repaired, physical damage coverage will pay to replace your truck.
Motor Cargo
If you're an owner/operator, you need to protect the cargo you carry. Without the right coverage, you're responsible for lost or damaged cargo. That's where motor cargo coverage comes in handy. In the event of loss, motor truck cargo coverage will pay the replacement costs for the lost cargo. That includes cargo loss due to truck breakdowns. That means you're covered if your cargo perishes while you're stuck on the side of the road.
Cyber Risk
When you work as an owner/operator, you need to worry about cyber risks. You never know when your system will get hacked. When it does, you need to know that you're protected against potential losses. That's where cyber coverage becomes beneficial. When you add cyber protection to your truck insurance, you're protected against cyberattacks on your trucking operations.
Liability
If you own a commercial truck, now's the time to go over your truck insurance policy. You should have coverage for three types of liability. Those include non-trucking, general, and primary. Non-trucking covers damage when you're driving your truck for non-work activities. General liability protects against work-related injuries that don't happen while you're on the road. Primary liability protects against work-related accidents that happen while you're on the road. That includes protection against bodily injuries and property damage.
Don't take chances with your trucking business. If you're the owner/operator of a commercial truck, make sure you have the right coverage on your truck insurance policy.
For more info about commercial truck insurance, contact a local company.
Do you remember the last time you experienced an accident or an injury? Life can surprise you sometimes, which is why it is always smart to have a few life insurance policies in place. I used to think about everything that I had and everything that I could lose, and it occurred to me that I couldn't risk taking any chances. I wanted to begin this blog to share my perspective with other people, so that you don't have to worry about finding the right insurance company. Read more here to figure out what you need to do to choose a better plan.