Is Your Commercial Trucking Business Adequately Insured?

Category: Commercial Insurance

The potential liabilities involved in a commercial trucking operation are complex; the expense of equipment and the potential severity of an accident make it important to understand your risks and purchase a protection package that offers the right coverage at a good price.

The unique challenges of trucking insurance
Operating a commercial trucking company is a unique challenge – since no two operations are exactly the same, it is important that you create a customized insurance plan for your specific needs.

Meeting with an agent is a great way to review the many coverage requirements of your trucking company, including:

• Equipment coverage: Trucks, trailers and loaders are often very expensive pieces of equipment, and each plays a vital role in the success of your business. Protecting these pieces of equipment against damage or theft is important; carrying the proper amount of coverage is necessary to offset the costs of repair or replacement of damaged or stolen equipment.
• Liability: Trucking accidents are often very serious in nature. If an accident results because of an oversight or error on the part of your driver you may be responsible for extensive medical coverage costs incurred by other parties involved in the collision. Having the appropriate amount of liability coverage is important to help you avoid out-of-pocket payments after an accident. Liability coverage plans also provide compensation for legal costs associated with lawsuits, further reducing your financial responsibilities after an accident.
• Carriage coverage: The loss of damage of a client’s freight can be very costly to your business; carrying insurance for freight is important to protect your bottom line and your relationships with your customers.
• Subcontractor relationships: Many trucking companies employ subcontractors to handle hauling duties. Understanding the unique relationship between your business and a subcontractor, and the inherent insurance responsibilities of each party, can be difficult.

Explore options across insurance companies
Knowing the protection you need, and understanding your options for purchasing it are two different things. An independent agent will have access to various insurance providers, offering you the options you need to make a wise choice. If you have questions, an agent from our Northern Virginia agency will be happy to provide a complementary review of your insurance needs.

What are your biggest concerns when your trucks are on the road? Has your insurance provider talked to you about cost control? Tell your story.

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