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Commercial Truck Insurance: What Kind of Coverage Do You Need?

Commercial Truck Insurance: What Kind of Coverage Do You Need?

Did you know that the trucking industry accounts for nearly 72.5% of the freight weight in the country?

Commercial trucking is vital to the nation’s economic survival. It’s important that the industry and the individuals within it are well-insured. What kind of coverage do you need as a commercial truck driver?

Read on to learn more about commercial truck insurance and what kind of coverage you need!

Liability Coverage

Your commercial truck insurance policy should include liability coverage. This coverage will protect you financially if your truck causes an accident that injures someone or damages their property.

The amount of coverage you need will depend on the size and weight of your truck. This also includes the amount of traffic you typically encounter.

Work with your insurance agent to make sure you have enough coverage to protect your assets. Check the commercial truck insurance cheapest state to make sure you understand the cost.

Physical Damage Coverage

This coverage can help pay to repair or replace your truck if it is damaged in an accident. This can also help pay for towing and other incidental expenses.

Be sure to shop around and compare rates to get the best coverage for your needs. This coverage can help protect your investment and keep your business running smoothly.

Uninsured/Underinsured Motorist Coverage

Uninsured/underinsured motorist coverage is vital for commercial truck drivers. Sadly, many drivers are on the road without insurance or with insufficient coverage. If you are hit by one of these drivers, your own insurance company handles paying your damages.

This type of coverage protects you if you’re in an accident with a driver who doesn’t have insurance. It can help pay for your medical expenses, property damage, and other costs associated with the accident.

Cargo Coverage

This is an important part of your truck insurance policy. It can protect your business from financial losses from lost, damaged, or stolen cargo. It can also help pay for legal expenses if you are sued because of your truck’s cargo.

Ancillary Coverages

There are a few ancillary coverages that you may want to consider for your commercial truck. One ancillary coverage is contingent liability coverage. This can help protect your business if you are held liable for a covered loss that occurs while your truck is being used by another party.

Another is rental reimbursement coverage. This coverage can help reimburse you for the cost of renting a replacement truck if your truck is damaged in a covered loss.

Finally, you may also want to consider trailer interchange coverage. This coverage can help reimburse you for the cost of renting a replacement trailer.

The Perfect Commercial Truck Insurance for Your Business

There are many types of commercial truck insurance. It’s important to know what kind of coverage you need.

Speak to an insurance agent to get tailored coverage for your trucking business. Get the peace of mind that comes with knowing your business is properly insured.

Do you want to see more helpful tips you can use right now? Feel free to explore more of our blog!

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