In terms of commerce, trucks are crucial. With all of the trucks on the road, it’s no surprise that there are a many different commercial truck insurance options available. Before you even hit the highway, you should be looking into trucking insurance. This is the one way you can guarantee that you and your truck are protected, no matter what you encounter on the road. If you feel lost in all the coverage options, check out this list of semi truck insurance types. With the right knowledge about truck insurance, it is easier to understand what options you require. Here are the different kinds of coverage available.
Primary Liability Coverage
This type of coverage does not cover your truck itself, so keep that in mind when shopping around for insurance. It covers the actions of the driver. Any damages you cause should be covered.
Truckers General Liability Coverage
As far as trucking insurance is concerned, truckers general liability coverage is a broad coverage plan. It covers any action of the driver when operating on someone else’s property. This goes for truck stops, loading docks and other public spaces. This type of coverage also pertains to mistakes in the delivery of the load.
Non-Trucking Liability Coverage
During the times that your truck isn’t on dispatch, you still have to think about the risks involved in driving your rig. If you harm someone by accident with your truck, you need this type of coverage to make sure that injures get fair payment.
Physical Damage Coverage
Accidents happen and unfortunately, theft isn’t that uncommon. Even if you don’t think that you’re going to be in an accident or that anyone would dare take your equipment, it’s better to be safe than to regret it later. Physical damage insurance covers damages in case of theft or accident.
Motor Truck Cargo Coverage
A lot can happen to your cargo when you are on the road. From theft to wet loads and refrigeration breakdown, your cargo doesn’t always make it to its destination in one piece. Instead of suffering a loss, if you have cargo coverage, then you may not have to pay for lost product.
As far as programs go, medical payment is important with trucking insurance. It is also one of the simpler options to understand. If you or your passengers are hurt while driving or riding in the rig, then this coverage covers medical bills. Keep in mind that unpaid medical bills or medical bills out of pocket can be high enough to severely hurt a business.
When it comes to semi truck insurance types, trailer interchange is particularly important. This type of agreement allows for the transfer of a trailer between more than one trucker. Generally, this happens in order to complete a shipment. When you have the trailer, you are responsible for the damages incurred. Trailer interchange insurance covers the trailer, even if you are not the owner.
If you’re in an accident, the person at fault is responsible for damages and medical bills. Say that you’re in a two-vehicle wreck where the other party is at fault. Now, say that the party in question does not have insurance. In this case, unfortunately, you usually have to pay your own bill. To protect yourself, you should have uninsured motorist coverage. In addition to uninsured, you may also be able to get underinsured motorist coverage.
It doesn’t have to be daunting to shop around for trucking insurance. The best advice is to know what types of coverage you may require. Once you know what you need, it’s much easier to choose the options that best suit your situation.