Insurance is an all-important safety net to have in all facets of life. There are policies to protect your health, home, and business. Of course, there’s also auto insurance for personal vehicles. However, for companies that rely on commercial trucks, a different kind of coverage is needed to stay safe on the open road or even in the parking lot. If you’re wondering what goes into a commercial truck policy, here are some of the questions you need to ask before signing on board.
What’s different about truck insurance?
When looking into insurance policies for tractor-trailers, dump trucks, and similar vehicles, you want to explore free quotes online to be able to compare the coverage you’re getting for your monthly premium. You can start by Googling “insurance for truck” to see the options that are out in the marketplace based on the type of truck you need coverage for and the offerings within your part of the United States. Plus, the Federal Motor Carrier Safety Administration mandates that all carriers have a minimum amount of liability insurance to cover bodily injury and property damage claims for other drivers in an at-fault accident.
There’s also physical damage and personal injury protection coverage that can be added to these truck insurance policies, raising premiums but providing greater peace of mind. These policies can center on the type of truck. For example, box truck insurance requires specific limits and deductibles in regards to the cargo being transferred by these versatile vehicles. This helps businesses, like food transportation, protect against risks both in and out of the vehicle. These take on similar risks to moving trucks when it comes to transport, and quotes should be evaluated as such.
How much does truck insurance cost?
Truck insurance policies, just like all other lines of insurance coverage, vary in cost based on numerous factors. At the forefront, state and federal regulations require a certain amount of commercial auto insurance. Beyond meeting the minimum standards, operators can look into additional protections to make sure that drivers, cargo, and others on the road are safe from having to break the bank on an accident claim. Browsing insurance quotes online affords businesses, drivers, and others to get a full scope of the offerings in their state.
Your state in the U.S. can also impact premiums. The monthly cost of truck insurance may be more for auto haulers across New York than in Iowa based on the amount of urban driving and the chances of accidents on congested roadways. Just like personal auto insurance coverage, the number of claims you file can impact your premiums in the long run as well. However, there are efforts to get discounted insurance if you expand to other lines under an umbrella policy. You can even save on things as simple as electronic payments or paperless billing.
What measures can I take to avoid claims?
One of the easiest ways to keep your truck insurance rates down and avoid accident claims is by emphasizing driver and vehicle safety. The ability as a carrier to keep a DOT record clean reduces commercial insurance costs. It’s important to also look into the driving record of your employees. The last thing you want is someone under your policy who has a history of unsafe driving or disregarding hazards when it comes to weather and cargo. Taking measures to ensure safe loading and unloading of the materials you’re carrying in a box truck or even by a tow truck is also a smart approach. Communication with dispatch and tracking devices can help prevent theft, making sure materials are being dropped off at the correct location and are accounted for immediately.
Remember, you’ll want to be certain that the coverage you sign up for protects your company and drivers from all angles, and affords you some savings.
