Commercial Truck Insurance: Diverse Policies for Different Drivers

Commercial Truck Insurance: Diverse Policies for Different Drivers

When shopping for commercial truck insurance, there are many factors to consider that are mostly contingent on your employment status or what type of industry you typically work with. The trucking industry is highly diversified and truck insurance comes in many forms in order to accommodate this different coverage amounts needed depending on local laws and common safety measures.Trucking businesses may handle only one specific type of cargo (refrigerated produce, liquid chemicals, or building materials for instance) or may haul several different types of standard general freight. There are also quite a few different types of specialized trucks, such as the dump truck, tow truck or construction vehicles that don’t necessarily haul cargo at all.Every one of these subcategories of commercial trucking requires their own set of coverage amounts to meet with regulations or be able to hold financial responsibility in case of an accident. Laws, regulations, and the cost of damage in turn, may make separate and specialized insurance a must. A few examples of these specialized coverage options are detailed below:Building Materials Hauler InsuranceConstruction vehicles that haul building materials to and from work sites may need this type of truck liability and cargo insurance combination. Typically, motor carriers that work largely in construction may need building materials haulers insurance as well as policies for their non-cargo specialty vehicles.Produce Haulers InsuranceThis coverage is tailored directly to refrigerated trucks that haul perishable foods.The food industry represents a vast amount of the number of commercial trucks that are on the road every day. Spoilage, damage and damage to refrigeration equipment can be accounted for in this blend of liability and physical damage commercial insurance.Tow Truck InsuranceThis form of commercial truck insurance covers liability for damages to other vehicles while being towed, as well as liability and other selectable coverage clauses should the tow truck itself be involved in an accident. Coverage amounts will vary based on frequency of use and at what capacity the tow truck is used.It is also important to note that the coverage needs of individuals will very greatly from those of large motor carriers with fleets of trucks and dozens of employees.Motor carriers need to provide their drivers with adequate liability, injury, and physical damage coverage. They also need to make sure that their assets (such as trucks, trailers, and cargo) are protected against damage, theft, or vandalism.General Freight Insurance and General LiabilityThese two forms of commercial truck insurance are basic coverage options for motor carriers. General freight is a blanket form of insurance that covers entire lines of cargo. General liability insurance can cover your actual business in the event damage or harm occurs during day-to-day operations.Independent haulers’ needs mostly involve protecting their trucks with physical damage insurance and maintaining some form of liability coverage when not actively employed by a large company. Typically, motor carriers bear the burden of financial responsibility when independent drivers are under commission by them. Bobtail insurance is a good option to stay covered while off the job.