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About Trucks Insurance
Acquiring trucks insurance is something that is important for business owners and owner operators. Though many people consider trucks insurance to be just another type of auto insurance, this is not necessarily true. Most auto insurance policies are tailored for private use, while most trucks are designed to acknowledge that trucks are generally used for commercial and business endeavors.
Trucks insurance is available from the commercial arms of mainline insurance carriers as well as trucking specific insurers. You can choose which is the best fit for you based on your business, your experience level, and your trucks. Some policies are tailored for small fleets, while others are only available to experienced business owners. You will have to carefully evaluate your business to find the best policy available in your region for your trucks.
Information Needed For Trucks Insurance Quotes
To get a trucks insurance quote, you need to have information about the drivers you want to insure as well as the vehicle. Though a commercial driver’s license is not required for all trucks, many do require it. You will be unable to get a quote for a named driver who does not have the proper licensing.
Next, you will need to provide information about the trucks themselves. Size, make, model, average distance traveled, and typical cargo hauled will all be considerations. Also, you will need to clarify if your fleet rotates drivers or if there is one driver per truck.
If you are an owner-operator, you will also need to discuss this with your agent to be sure you get all the coverage you need for your operations.
Common Trucks Insurance Policy Features
Though trucks insurance will vary a bit based on the size of the fleet being insured and the size of trucks on the policy, there are many common features. The most typical trucks insurance policy features are:
- Physical Damage Coverage. This coverage helps to repair or replace your truck if it is damaged on the road, vandalized, or stolen.
- Motor Load Loss Coverage. If something should happen to the cargo that you are carrying, this coverage will step in to replace the cargo or reimburse you for the loss.
- Liability Coverage. For most trucks policies, this includes property damage liability and bodily injury coverage. If your truck harms another person or causes property damage, you will have protection from litigation costs.
- Medical Payments Coverage. If you and others are injured in a trucking accident, this coverage will offset your medical bills.
- Uninsured Motorist Coverage. If you are in an accident with an uninsured or underinsured motorist, this coverage will help pay for repairs and medical bills.
- Roadside Assistance Coverage. If your truck breaks down or you are stranded due to weather conditions and need help, roadside assistance coverage can help you get the right people to you to aid you.
Trucks Insurance Discounts Available
Given their high cost, lowering trucks insurance rates is a high priority for many drivers and firms. You can get trucks insurance discounts by taking a number of steps. You can have your safety features inspected, avoid accidents, and combine policies to earn premium credits.
Safety features are a big issue with trucks. Your insurance company will reward you for regular verification of lights, brakes, and cargo hold seals. Mirror enhancements, back up cameras, and GPS tracking in the event of thefts can also help you get discounts.
Accident avoidance will also earn safe driver discounts and fleet discounts. Safety courses for drivers or incentives based on milestone mileages without accidents can trigger accident free premium reductions.
Finally, combining policies will help you get discounts. Standard auto, homeowners, or business owners insurance combined with trucks insurance can help you lower your overall rates.
Trucks Insurance Exclusions To Note
Read your policies careful to watch for certain cargo restrictions, qualified driver restrictions, and regional or mileage limits on coverage. This is especially true for owner-operator trucks insurance, which may carry a short mileage limit of no more than 500 miles.
Also, accidents that occur as a part of committing a crime, such as smuggling unauthorized cargo or drugs, will generally not be covered by any trucks insurance policy.
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