Having your own trucking company will require that you carry certain types of insurance products on your semi-trucks and trailers. Typically when you own more than two trucks you will want to get fleet insurance as it is less expensive and provides coverage for all of your trucks. Even when the trucking company is a family owned and operated business it is still ideal to get this type of insurance product because it will save money and help protect your assets.
One type of fleet insurance you will want to carry on all of your semi-trucks is primary truck liability insurance. This type of insurance protects your trucks in case of an accident while the driver is working. Should an accident occur, this insurance will cover damages against other people as well as any injuries they might sustain. In order to protect your truck and trailer, you will need to get truck physical damage insurance which covers any damages to your assets.
Another type of fleet insurance product available is motor truck cargo liability insurance. This type of insurance will cover the contents of the products, goods, or merchandise you are hauling for another company. Should something occur, which results in damages to the contents in the trailer, this coverage will prevent you from having to reimburse the owner of the goods out of your own pocket.
When you only own your own semi-trucks and are towing trailers owned by another company, then you will need to get a type of fleet insurance to protect yourself against damage to the trailer owned by the other company. This type of insurance product is called trailer interchange insurance and is a form of liability insurance. When damages occur to the trailer while it is in transport by you or one of your employees, this insurance will kick in and provide protection.
Each of the different types of fleet insurance products all have different liability amount limits for which they will pay for damages and injuries. When you want extra coverage for your entire fleet you can check into umbrella liability coverage. This type of insurance will offer additional liability protections for amounts above your normal liability limits on your other insurance products.
Having the correct amounts and types of fleet insurance is important as all of your semi-trucks and trailers are assets for your business. You would not want to be without a truck because it was damaged or have to pay for damages to others because you did not have the correct type or amount of coverage on your entire fleet.
When you hire truck drivers to drive your trucks, even though you have fleet insurance to cover your interest, you may want to require the driver to carrier their own non-trucking liability insurance. This type of insurance product covers the truck should damages occur while they are not working or should they just be driving the rig without a trailer. You can find all your insurance products for your entire fleet from USA Insurance Brokers, LLC, by calling 724-274-6364 which has been offering truck insurance products since 1942.
When you are a semi-truck driver there are different types of liability insurance coverage you will need to have in order to protect and limit your liability.
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