If you own a commercial trucking company, one thing you must have is commercial trucking insurance. Below is information about different types of this insurance you can choose from for your company.
Paying Insurance Premiums
The insurance premiums for this type of insurance can be expensive, especially if you have a large company.
You should know if you are not able to afford the insurance premiums, you can find lenders to help you finance this expense. Your insurance company can suggest a finance company that they know of or may even work with. This is known as commercial trucking insurance premium financing. The finance company will charge interest to your policy and set up a payment plan for you.
Types of Commercial Trucking Insurance
There are different types of commercial trucking insurance you can purchase for your company. One type is known as liability. This insurance covers damage to the other drivers and to any vehicles, trucks, etc. that are involved in the accident. For example, you may have a trucker loading a dock and have an accident. Your trucker may have an accident while driving. If you choose this, you must know your insurance will not cover any damages to your commercial trucks.
There is also cargo commercial trucking insurance. This type will cover stolen or damaged goods that are in the trailer. For example, if your trucker is delivering expensive items or fragile items and has an accident, these items can be destroyed. If so, your cargo commercial trucking insurance will replace the items for you. If the cargo is stolen this type of commercial trucking insurance will cover the costs of replacing the items. You must have a list of the items in each truck, however.
Physical damage commercial trucking insurance is another type. This will cover if there is damage to cargo. This could be from the weather, an accident at the fault of your driver or the fault of another driver, or if someone else damages the cargo, such as if someone breaks into the truck.
Bobtail commercial insurance coverage is available. This type is especially important if any of your employees take their trucks home when they are not working. This will also cover damages if your employee is using the truck for other purposes.
Talk with a local commercial truck insurance company to learn much more about this insurance, as well as other types of insurance you may want to purchase.