Preparing for the unexpected can save you a lot of time, money, and problems. That’s why so many in the trucking business decide to get trucking insurance for their fleets. Let’s face it – accidents can happen. This isn’t unique to the trucking business but it can play a factor in protecting your business.
Protect Your Assets: What is Trucking Insurance?
The point of commercial truck insurance is to offer a level of protection for your company. Having trucking insurance is a requirement by law. Without it, business owners could face fines.
When you have trucking insurance it allows you to bounce back from an accident. This helps to continue operations that benefit the business owner and the customers they serve. Insurance also protects the company from legal action if one of your trucks is involved in an accident.
Breakdown of Coverage Options
You should select the type of trucking insurance that makes sense for your business. That said, you also have to make sure that you are adhering to the laws of your state. Some require certain levels of commercial trucking insurance.
- General liability – this type of insurance is the most basic. It will protect your business from common errors. This usually entails customer or employee injuries, property damage, lawsuit legal fees and payouts, and any damage to products.
- Commercial vehicle – this insurance is best for trucking businesses. It will cover damage to a truck, employee injuries, or if the truck is involved in an accident, stolen, vandalized, etc.
- Cargo – this insurance option offers coverage for loss or damage to freight while it’s being shipped. When you select this type of trucking insurance you can expect product replacement to be included.
The Next Steps: Purchasing Trucking Insurance
There are a couple of things you should know when you are ready to pick the type of commercial trucking insurance that you want.
Educate yourself – you should know what kind of commercial trucking insurance options are available to you. It helps to have an idea of what kind of protection you think you’ll need for your business. This can help the insurance agency with tailoring your coverage to make sure you are fully protected.
You’ll need to have certain information available such as your MC or USDOT numbers. Also, have your personal information and important information concerning your business ready. This means you should be able to tell the insurance company your business’s tax ID, which states your trucks will drive through, and what type of products you carry.
Forerunner Insurance Group: A Resource For You
Selecting and purchasing trucking insurance doesn’t have to be a difficult decision. However, it is something that should not be taken lightly. Forerunner Insurance Group is available to help you choose the insurance coverage that best suits your business.
We have a team of commercial trucking insurance experts who know about all aspects of the industry. Our services include commercial truck insurance for semi-trucks, dump truck insurance, heavy equipment insurance, car carrier insurance, fleet vehicles insurance, and BOP office insurance. Contact us to receive a quote and see how we can help you with your insurance needs.