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Commercial truck insurance is not just for trucking companies. It’s also for independent contractors (drivers who own the truck who are hired to deliver the goods), for their own protection. Commercial motorist coinsurance is primary liability insurance. Anyone who owns a vehicle for business purposes is required by law to have insurance.
But this type of basic insurance, primary liability insurance, is limited. Unfortunately, damage to your vehicle is not covered by this insurance. It only covers damage caused to the other party involved in the collision or accident. With this as your only commercial transport insurance, it would cost you dearly in the event of an accident. You have to prepare and then protect yourself.
As an entrepreneur: rental of freight transport services
You have your own truck and a company hires you to deliver goods to them. To protect yourself, you must have an insurance policy that covers the expenses of your truck in the event of an accident, as well as damages during accidental events in your vehicle. And as required by law, you get basic business insurance, which means while you’re working, you’re covered.
Another part of commercial aircraft truck insurance is bobtail insurance. Also recommended for all independent contractors (the benefit of this will only be known when the accident happens). This is a property damage insurance policy and may be considered an additional expense on your part. But all contractors who have been victims of an unfortunate traffic accident will add to the idea of having Bobtail insurance to save cash expenses in the (future) undesirable event.
Regular auto insurance vs commercial truck insurance
Regular auto insurance covers bodily injury to the driver and vehicle. Some even encapsulate lesions in the other extremities. On the other hand, commercial truck insurance covers both the driver and the truck, but with the goods transported in the truck included.
So how is the premium calculated? It really depends on the type of cargo the truck will be carrying. If the assets are sensitive, the price of the policy is higher. The goal is to distinguish between payments: the riskier the shipment, the more likely it is to be damaged. Therefore, a higher policy rate is needed.
Types of trucks applied in commercial transport insurance:
1. tippers
2. Refrigerated trucks
3. Trailer truck
4. Conveyors
Reminder of your choice of insurance
There are three things to keep in mind when choosing an insurance company to trust: originality, availability and completeness? Authenticity means that the business must be legitimate and trustworthy. Don’t just trust a company that offers cheap fonts. You need to be thorough and do business with a company that has an excellent professional reputation.
Availability means that in the event of an accident, they are easily contactable. They must have phone numbers, cell phone numbers, toll-free numbers (if available) and the best 24-hour phone service. Integrity means the company issues a policy that includes everything: damages, liability and coverage. If those three are at a commercial truck insurance company you’ve been eyeing, don’t let them.
