Trucking Insurance

The Ins and Outs of Trucking Insurance

If you own a trucking business, it is vital that you are prepared in case something goes wrong.  There is always a certain amount of risk involved with running any business but trucking businesses come with even more risk than usual.  Anytime you have a business that has people spending a lot of time driving, there is a substantial risk of an accident occurring.  This is where trucking insurance comes in.  Trucking insurance can pick up the bill if you damage your vehicle or cargo or someone else’s vehicle or property.

What is Covered By Trucking Insurance?

There are four main types of trucking insurance.  The first is liability insurance.  This type of insurance is mandatory and covers any damage that you cause with your truck.  If you get caught driving without this type of insurance, you will be in serious trouble and receive hefty penalties.  The next type is bobtail insurance.  Bobtail insurance is not mandatory and covers your truck when you are driving it without a trailer.  Next, we have motor truck cargo coverage.  This coverage provides protection for the cargo you are transporting.  It is not always required but many shipping companies insist you have it.  Finally, there is physical damage coverage.  Like motor truck cargo coverage, this type of coverage is not necessarily required.  It provides protection against theft, fire damage, and storm damage.

Running a trucking business can be a risky endeavor.  Make things easier for yourself and invest in trucking insurance today!