One of the greatest financial factors of trucking businesses, including those that operate semis, is to manage insurance. There are plenty of risks associated with the trucking business. Your property, your truck drivers, and your customers are primary liabilities, as are the other drivers sharing the road with you. As a responsible business owner, you must balance all of this risk with the proper kind of liability insurance (and amount) to protect your company. It all starts with selecting the right trucking insurance for the type of vehicles you operate.
What Truck Insurance Do You Need?
Commercial truck insurance must provide for precise protections based on the way you operate your trucks. A recent article in the Business Report stated that the average cost per truck accident, is $148,279. According to the size of your truck, your frequency of operation, and the less experienced your drivers are– the higher your risk becomes.
What should you look for when it comes to semi-trucks?
Semi-truck Insurance should protect your assets as a first step. This includes the value of the truck and trailer, along with your setup. It also applies to any equipment on board, such as cooling equipment. Your coverage should provide ample Liability Insurance. The law requires companies to have truck liability coverage. However, most companies benefit from a policy that provides higher liability limits than the minimum required by their state. Collision Insurance is also a necessary component of coverage. Since it is very easy for large semi trucks to be involved severe accidents, this type of insurance tends to be required.
Semi-truck insurance should also provide bobtail insurance, equipment coverage, medical payments protection, physical damage protection and non-trucking liability insurance. Many businesses also need specific policies for non-owned trailer coverage and occupational accident protection.
You need business insurance that protects your assets. Forerunner Insurance Group offers a comprehensive truck insurance policy that covers your vehicles and reduces risk.
Get the protection you need. Contact Forerunner Insurance Group for a free trucking insurance quote.