4 Types Of Coverage Included In A Commercial Truck Policy
As an owner of a commercial truck, it is important to ensure you have the right insurance coverage in place before you get on the road and start accepting assignments. Commercial truck insurance includes some elements similar to non-commercial personal vehicle insurance and other highly different elements.
Primary Auto Liability Coverage
Primary auto liability coverage is similar to liability coverage with a personal vehicle; however, the minimum coverage limits are usually significantly higher than those with a personal insurance policy.
Primary auto liability coverage comes into play if you get into an accident and hit another vehicle or another object. It is what will pay for the damage to the vehicle or object that you hit. A commercial truck can cause a lot of damage, which is why the minimum limit for it is higher than it is with personal vehicles.
General Liability
Second, you are going to need a general liability policy. This is important as it will protect you against any injury or property damage that happens when you are operating as a truck driver that occurs outside of your truck. For example, you will be covered if you hit something and damage it while unloading the truck. This covers any damage you could cause while operating as an owner-operator that your truck didn't directly cause.
Motor Truck Cargo Coverage
Third, you will need to ensure that you cover the goods you are transporting in your truck as well. You are going to need cargo coverage to protect you against the theft of the cargo, so if the cargo is stolen off your truck, you are not held personally responsible for replacing the cargo.
If the cargo is damaged or spills out of your truck, it will be covered this way as well. When getting cargo coverage, it is essential to know what type of cargo you will carry, as this can impact the policy you need to purchase. You may need to get different coverage depending on what you are carrying at the moment.
Trailer Interchange
Fourth, if you are using a trailer that you don't own with your truck, you will need to carry a trailer interchange policy as well. You only need this coverage if you are working with a company that requires you to switch out the trailers you pull.
These are just four types of coverage you will need as a commercial truck driver. You will want to talk to a commercial insurance agent to find out all the types of insurance you should carry; you want to carry enough insurance to protect your business and yourself and ensure that you will not be personally held liable for any damage your commercial truck causes.
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