Commercial Trucking Insurance: Average Cost, Coverage & Requirement

What are the Types of Commercial Truck Insurance Coverages Being Offered

Coverage is the most vital thing to consider when looking for insurance for commercial trucks. You may be referred to an insurance company by a broker, but that may not automatically mean that it offers the coverages you want. Here are some of the coverages offered by commercial trucking insurance companies:

• Primary Liability Coverage: It covers all the liabilities caused by your truck such as damage to property and accidents on the road. Driving on the road without liability insurance is illegal.

• Physical Damage Coverage: It covers all damages to your equipment in the event of a disaster such as an accident, theft or even flooding.

• Cargo Coverage: It insures the cargo you are hauling from theft, breakdown, debris removal among other risks.

• Bobtail Insurance: Covers your truck when driving on the road without a trailer.

• Umbrella Insurance: It covers anything that may be left uninsured by other forms of coverages. For instance, it can clear up the balance left by liability insurance.

What are the Requirements to Qualify for Commercial Trucking Insurance

Just like any insurance, to qualify for truck insurance, you must meet specific standards set out by Insurance Laws of the State where you will be operating. These include:

• Address and Contact Information. You must submit your contacts and address for easy communication with your insurer.

• Type of Cargo You Intend Haul. You are required to disclose the kind of cargo you intend to transport to determine the risks involved and come up with the appropriate insurance cover.

• Hauling Distance. You will have to state the distance you cover while transporting your cargo.

• Claims History.You must submit your claims history for the past three years with your former insurer.

• Other requirements include Credit report and scores as well as criminal history (if the insurer insists).

Free Truck Insurance Quote

Have you  made up your mind to get commercial trucking insurance for your trucks?  Visit Strong Tie Insurance today to get an affordable yet reliable truck insurance quote that will cover all your trucks’ risks!

Steer clear of costly errors with our essential insights. Dive into our blog post to avoid common commercial truck insurance mistakes. Make informed choices and ensure your coverage aligns with the average cost, coverage, and requirements.