Talking With Insurance Companies

As a trucker, you know that accidents can still happen no matter how careful you are. That's why you need to make sure you have the right coverage for your trucking business.

But what kind of coverage do you need? Take a closer look at the different types of coverage available from truck insurance brokers.

Liability Coverage

Liability coverage is essential for all types of businesses, and it's no exception when it comes to truckers. This type of insurance covers any damages or injuries that occur in connection with your business operations, including any legal fees associated with those claims.

It also covers third-party property damage and medical expenses related to an accident caused by you or one of your drivers while on the job.

Freight broker liability insurance is also available and can provide additional protection in case of a dispute with a freight broker, shipper, or customer. It can help you recover costs for any underpaid freight, damaged goods, or other issues that arise.

Cargo Insurance

Cargo insurance covers any goods or products being transported by your trucks in case they are damaged or lost during transit. For instance, if your truck is involved in an accident and the cargo is destroyed or stolen, this type of insurance can help you recover some of those costs.

You might get reimbursed for the full value of the cargo or a percentage of its original value. Check with your broker about additional coverage for items such as refrigerated goods, hazardous materials, and other specialized goods that may require extra protection while in transit.

Physical Damage Coverage

Physical damage coverage helps protect against repairs needed due to accidents or theft while driving or parked. This type of policy can cover both collision and comprehensive losses up to certain limits set forth by the policyholder and their broker.

Depending on the policy, physical damage may be covered for both owned vehicles and hired ones, as well as leased vehicles too. This is especially important for truckers who lease their vehicles, as it can help cover the cost of any repairs needed after an accident.

Before signing off on any policy documents, speak with your broker about what type of physical damage coverage would be best suited for your needs. Usually, a separate physical damage policy can be added as an endorsement on top of your primary liability coverage. This way, you can still get the financial protection you need without paying for a separate policy.