If you own your own trucking company, there are several things that you need to consider for the safety of your company and your drivers. One of them is commercial truck insurance. This will help you in case of accidents, or when the product does not get delivered as promised for some reason. There are several different types of insurance that are available for purchase. |
One type is primary liability. This is necessary to make sure that your company is protected in case of some type of accident with your vehicle. Most states require you to have it, and you will be required to send proof to your state offices. Coverage ranges from as low as $35,000 to as high as $1,000,000 per year, depending on the type you need, where you are operating from, and what kind of business you operate.
Another type of commercial truck insurance involves physical damage coverage. This will help cover your vehicle in case of damage after an accident involving driver negligence, collision, vandalism, or a natural disaster, such as an earthquake, tornado, or hurricane. How much you pay depends on what you need covered and the worth of the vehicle. Usually, the owner of your vehicle's title, unless it's you, requires you to have this type of coverage.
You may also need coverage for the items that you are carrying, in case what is being transported is lost or damaged. The coverage you get for the price is determined by the maximum weight or maximum load that the trailer is able to transport and depends on exactly what is being transported. Policies can range from $10,000 to $50,000 per year. This may also be required so that your trailers can be covered if they don't belong to you.
Another type of coverage you may need is non-trucking liability. This helps if you are a private trucking owner and are leasing your trailer permanently to a company, and your truck is being transported empty. Examples of this include when your operator is taking the truck to get it washed, or is taking it to the mechanic.
Finally, you need to have a permit from the Interstate Operating Authority to be able to transport your products across state lines. There is no minimum weight for a permit, but any vehicle that transports goods over state lines must have one. Most commercial truck insurance companies offer some type of interstate transportation, so this permit will be necessary.
Your commercial truck insurance can make a difference in how you run your business. Having some combination of all of the above can ensure that you have the coverage that you need when you need it.
Need commercial truck insurance? Mississippi residents can use: http://www.americantruckinsurance.com.
Related Articles -
commercial, truck, insurance, mississippi,