Commercial Truck Insurance: What Coverage Do You Need?

insurance for tractor trailer

Let’s face it, being a large commercial truck driver can be risky. You might be aware that you have to have insurance for trucking business, but often times the type of coverage you need is a mystery.

Read on to learn about commercial truck insurance, covering your truck with all the right insurance coverage.

Commercial Auto Liability Insurance

Commercial auto liability insurance is a must-have for any business that uses commercial trucks. It provides protection against any financial losses due to property damage, bodily injury, and medical expenses in the case of an accident.

Generally, it will cover both the driver and the business owner, along with anyone who may be involved in an accident.

Physical Damage Insurance

Physical Damage Insurance provides financial protection in the event of physical damage done to the insured truck due to collision, fire, malicious mischief, theft, vandalism, and other covered events.

This insurance covers the cost to repair, replace, or rebuild the truck should an event occur. Physical Damage Insurance is typically offered on a comprehensive basis, meaning it can cover damages that are not caused by a collision, such as:

  • hail
  • water
  • fire
  • windstorm
  • animal collision

Motor Truck Cargo Insurance

Motor Truck Cargo Insurance, a form of commercial truck insurance, is an essential type of coverage for fleets and independent truckers who transport goods.

It covers the cost of replacing any items that are lost or damaged in transit, ensuring that both truckers and the customers are protected.

The coverage includes property damage and liability, both of which are important for the safety of drivers and the goods they’re carrying.

Motor Truck General Liability Insurance

This type of coverage is designed to provide protection against unintentional injury to other people or damage to property caused by the truck.

This insurance is not required by law and is primarily used when other forms of coverage are not available, or when they are insufficient.

Typical coverage includes:

  • bodily injury liability
  • property damage liability
  • medical payments
  • uninsured motorist liability

It is important to purchase the right amount of coverage as it can play an important role in ensuring that your business is financially protected.

This type of insurance should be tailored to your specific business situation and should be re-evaluated annually.

Non-trucking Liability Insurance

Non-Trucking Liability Insurance covers the costs associated with an accident when a truck is being used for non-trucking purposes, such as when someone is using the truck to travel to or from a job or to perform some type of work-related task.

Commonly, NTLI will cover things like:

  • medical bills
  • lost wages
  • property damage

It’s important to ensure that your non-trucking liability insurance provides coverage for any potential problem that could arise when using your truck for things other than transportation.

Make sure to read any fine print and understand exactly what your NTLI policy covers so that you have the peace of mind you need when out on the open road. With the right insurance for tractor trailer, the owner can be confident that their asset is well protected.

Learn Commercial Truck Insurance the Right Way

It’s important to select a reliable insurer when it comes to commercial truck insurance. Make sure you understand your coverage needs and shop around for the best rate. Don’t wait – get the coverage you need today to protect your business tomorrow.

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