Trucking Insurance – What You Need to Know

Blog Introduction: If you’re new to the trucking industry, you may wonder what kind of insurance you need to operate your business. Trucking insurance is vital to protect yourself, your vehicles, and your cargo in an accident or other mishap. Here’s a brief overview of the types of trucking insurance and what they cover.

 

Trucking Liability Insurance
Liability insurance is the most critical type of trucking insurance, and it’s required by law in most states. This insurance covers damages you may be liable for if you cause an accident. There are two types of liability coverage: property damage liability and bodily injury liability. Property damage liability covers damages to someone else’s property, such as their vehicle or cargo. Bodily injury liability covers the medical expenses of anyone injured in an accident that you caused.

Trucking Cargo Insurance
Cargo insurance covers the loss or damage of the cargo you are transporting. This is important because if your shipment is damaged or lost, you will be responsible for replacing it. Cargo insurance also protects you if your cargo is stolen. Most trucking companies require their drivers to have cargo insurance.

Trucking Physical Damage Insurance
Physical damage insurance covers damages to your truck caused by an accident, fire, theft, or vandalism. This type of coverage is optional but highly recommended, as repairs can be costly. Physical damage coverage has two parts: collision coverage and comprehensive coverage. Collision coverage covers damages caused by accident with another vehicle or object. Comprehensive coverage covers everything else, including fire, theft, and vandalism.

 

Trucking Insurance – What You Need to Know
Trucking insurance is vital to protect yourself, your vehicles, and your cargo in an accident or other mishap. The three main types of trucking insurance are liability insurance, cargo insurance, and physical damage insurance. In most states, liability insurance is required by law and covers damages you may be liable for if you cause an accident. Cargo insurance covers the loss or damage of the cargo you are transporting. Physical damage insurance covers damages to your truck driven by an accident, fire, theft, or vandalism.