Trucking insurance is a complex world that requires truck drivers to understand the different coverage options available to protect their rigs. It is crucial to have adequate insurance coverage to avoid potential financial losses. Knowing the types of coverage available and the coverage limits is key to making the right decision. By reading on, you can gain a deeper understanding of the importance of trucking insurance.
What is Truck Insurance?
Truck insurance safeguards truckers and their rigs from unexpected damages. It’s not a one-size-fits-all policy and requires customization. It typically covers damage to the truck, other vehicles, personal injury, property damage, and cargo liability.
Types of Coverage
There are several types of coverage available for truckers. The most common are:
- Liability Insurance: covers damages to other vehicles and property caused by the trucker’s negligence
- Physical Damage Coverage: protects the truck in case of accidental or mechanical damages
- Trailer Interchange Insurance: covers damages to trailers owned by the trucker or borrowed from other truckers
- Non-Trucking Liability Insurance: protects the trucker if they are operating their truck off the clock
- Cargo Insurance: protects the trucker if the cargo they are carrying is stolen or damaged
Research state insurance regulations and work with an experienced provider to get coverage tailored to your needs.
- Cheap Trucking Insurance
- Affordable Trucking Insurance
- Long Haul Trucking Insurance
- Trucking Umbrella Insurance
FMCSA sets insurance regulations for truckers, including minimum limits for cargo liability insurance that can vary based on cargo type. Truckers must meet the minimum state requirements for insurance.