Commercial truck insurance can be confusing for anybody. Individual insurance policies only cover so much, making it tough to determine what combination of policies you need. If you’re a commercial trucker, your truck is your business. Therefore, you need to protect it as extensively as possible. SafeLine Insurance can help you figure out exactly what policies you need to keep your livelihood safe. Here are three types of coverage that you absolutely need to succeed in the trucking world.
Auto liability insurance is the foundation of any commercial auto insurance policy. The Federal Motor Carrier Safety Administration (FMCSA) requires all commercial motor carriers to have this policy, and it isn’t hard to see why. This type of insurance protects the public from you! Commercial motor carriers are on the road constantly, and often in massive vehicles that can do significant damage to others. With auto liability coverage, the rest of the driving world will stay covered as you drive.
Cargo insurance is one of those types of coverage that just makes intuitive sense. After all, if you intend to make your living hauling goods all over the country, it makes sense to protect those goods! If you just have liability insurance, then when you get in an accident, it only covers the people around you. Cargo insurance extends that coverage to the goods you haul, meaning you’ll be reimbursed for the value of what you were hauling. Accidents happen, after all, and you’d hate to wind up stuck paying out of pocket for all of those goods. For anyone hauling commercial goods of any kind, SafeLine recommends cargo insurance.
There are three main parts to any commercial trucking business: your drivers, your cargo, and your truck itself. Physical damage insurance protects the latter of those three. In the event of an accident that someone else causes, you’re at the mercy of the limits of their own insurance coverage. That insurance may not pay out enough to cover your vehicle, leaving you high and dry! Physical damage prevents this catastrophe from happening. With good physical damage coverage, your insurance company will pay to fix your vehicle if it’s damaged. Regardless of who is at fault, your truck will be protected by this policy.