Are you confused about what type of tractor trailer insurance you need for your fleet?
If you own a commercial trucking business, you know insuring your fleet is one of your top priorities. When you purchase and maintain an insurance policy, you are protecting your business, staying compliant with the state and federal laws, minimizing financial loss, managing your risks, and giving yourself peace of mind about your company.
However, tractor trailer insurance, or commercial truck insurance, can be a bit confusing. There are many types of policies to choose from and you might not know where to start.
Fortunately, choosing the right insurance can be as simple as knowing what’s available and choosing what you need. If you are wondering about commercial truck insurance, here are the main types of policies you might need.
General Liability Insurance
One of the most common types of trucking insurance is general liability. This policy will protect your company from incidents that happen outside of the vehicle.
This includes slips and falls, deliveries to the wrong address, and more. If you don’t have general liability, make sure to get tractor-trailer insurance as soon as possible.
Medical Payments Insurance
A smart tractor trailer insurance policy to have is medical payments. This policy covers medical payments for injuries that occur inside of the truck. Medical payment coverage also applies to accidental death and long-term disability.
Motor Truck Cargo Insurance
One of the best types of truck insurance policies to purchase is motor truck cargo insurance. With this policy, your company is protected from the costs of lost or damaged cargo. Types of damage covered by a motor truck cargo insurance policy include fire, the striking of a load, collisions, and more.
Non-Trucking Liability Insurance
If you want to protect your business, consider getting a non-trucking liability insurance policy. With this policy, your company is protected should one of your drivers get into an accident while driving your truck on their own time. The policy will pay for both bodily injury and property damage.
Physical Damage Coverage
An essential commercial truck insurance policy to consider is physical damage coverage. With this policy, you are covered for damage to your truck due to an accident. The policy might also cover theft.
Trailer Interchange Insurance
An essential type of truck insurance policy you need is trailer interchange insurance. With this policy, your company is covered when you use a trailer under an interchange agreement.
Tractor Trailer Insurance: This Is What You Need to Know
There are several types of tractor trailer insurance policies you might need for your commercial trucking company.
One policy you will likely need is general liability insurance. You might also need medical payments, motor truck cargo, and non-trucking liability insurance. Consider buying physical damage coverage and trailer interchange insurance.
Carefully consider these choices and choose the best policies for your needs.
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