The most important aspect of operating a commercial truck is having the right trucking insurance. If you are a trucking company owner, then you know just how much it costs to provide for the needs of your employees, support equipment, and the cargo you carry in your truck. Trucks can get seriously damaged in even the safest of neighborhoods, so it’s crucial that all truckers have insurance to protect them and the goods they are carrying. Commercial trucking insurance is different from other types of auto insurance because it focuses specifically on the needs of truckers. There are some things you should know about commercial trucking insurance before you purchase it.
To remain legal, you need primary commercial trucking insurance at least as a bare minimum. This kind of trucking insurance provides coverage for the damages and injuries that would likely occur to both the trucker and the other driver in an accident. The kinds of accidents a driver can expect in a professional trucking environment include: collisions with other trucks or other vehicles, weather damage, and mechanical damage to the truck.
Because it focuses solely on the needs of truckers, there aren’t many factors that affect rates. Truckers who use more powerful vehicles may get more expensive rates than those who use small or light trucks. Drivers who have a poor driving record or multiple accidents could see their rates go up as much as 100 percent. Drivers who make frequent pickups and deliveries could also see their rates go up since they are seen as high-risk drivers by the insurer. Before buying any kind of secondary or general liability insurance for your trucking business, be sure to consult with an experienced trucking insurance agent to find out exactly what kind of rates will apply.