When stepping into your vehicle, safety is paramount. Accidents, despite the latest technology and skilled drivers, can still occur. Protecting yourself with the right insurance policy is crucial. Here are key considerations for your commercial trucking insurance.

Do I Need Commercial Trucking Insurance?

Yes, it’s essential. Commercial trucking insurance not only covers potential out-of-pocket expenses for damages but is also legally required by the FMCSA. The necessity may vary based on factors such as carrying hazardous materials and freight weight.

Businesses without proper insurance risk significant financial loss, with average settlements for semi-truck accidents ranging from $185,000 to $650,000 or more.

Automobile Liability

Also known as primary liability, this covers property damage or injuries caused by the vehicle or equipment. It applies when the operator or equipment is at fault, excluding events beyond immediate control, such as fire or theft. Dual-facing dash cams can aid in proving fault and expediting claims.

Automobile Physical Damage

Commonly called collision coverage, it pays for road accident repairs but doesn’t cover personal items or freight damage. Types include comprehensive coverage for non-accident damage like theft or fire.

Non-Trucking Liability

This covers damage when the truck is not in business use, also known as contingent liability insurance. Useful for owner-operators using their vehicle for personal use.

Bobtail

Protects the vehicle when not hauling a trailer, such as between drops and hooks. Useful for drivers dropping off one trailer and picking up another.

Cargo

Motor truck cargo insurance covers freight against physical damage or loss during transport, loading, and unloading.

Medical Payment

Essential for covering medical expenses of the driver or passengers injured in or by the vehicle. Some insurers include it under broader coverage like automobile liability.

Uninsured & Underinsured Motorists

Covers repairs or replacement if the at-fault driver lacks liability insurance. Confirm its inclusion in your policy.

General Liability

Covers injuries or property damage unrelated to operating the vehicle, including accidents during cargo unloading, at truck stops, or damage during delivery.

Wrapping Up

Commercial trucking insurance comes at a cost, often a significant business expense ranging from $8,000 to $14,000. Skimping on insurance can lead to greater long-term costs. Dash cams and technology can aid in proving fault and reducing costs; check with your insurance agent to explore these options.

Our knowledgeable team is always prepared to assist you in selecting the appropriately used truck to begin your career. Our inventory is the most comprehensive and reasonably priced in North America. Contact us to make your purchase and have peace of mind with an extended warranty and financing options.