Safety is a significant concern for all trucking businesses. Despite taking every precaution, accidents can still occur. Trucking insurance is necessary to safeguard your company from the potentially devastating financial consequences of trucking accidents.
Commercial Trucking Insurance
Prioritizing risk exposure is crucial to running a successful trucking business, and trucking insurance should be a top priority. Trucking insurance offers protection against a range of risks, including potential lawsuits.
Texas trucking firms are subject to state and federal trucking insurance regulations. These laws help determine the basic coverages your operation must purchase. Your agent can help you get trucking insurance to comply with state and federal laws.
General Liability Coverage
Truckers’ general liability coverage is designed to help cover third-party damages when the driver is operating on someone else’s premises. For example, it may help pay for accidents at truck stops and loading docks. This policy also extends to accidents that may occur during the delivery of the driver’s load.
Primary Liability Coverage
Primary liability coverage is not designed to cover the trucks you own, but it may help cover third-party damages when one of your employees is operating an insured semi-tractor.
Physical Damage Coverage
Physical damage coverage is crucial for businesses needing to repair or replace damaged trucks and equipment after a covered accident or incident. This policy may help pay to repair or replace the covered vehicle or equipment if it is involved in a collision or is damaged in a noncollision event, such as theft, vandalism or storms.
Non-Trucking Liability Coverage
This crucial liability coverage may help pay for third-party damages that occur when the insured vehicle is not under dispatch or being used for business purposes.
Motor Truck Cargo Coverage
Motor truck cargo insurance is inland marine coverage that may help pay for property loss while in transit. If your cargo is damaged or stolen, this policy can help pay to replace it, shielding your firm from financial losses.
Uninsured/Underinsured Motorists Coverage
If someone hits your insured commercial truck without adequate liability coverage, uninsured/underinsured motorists coverage may help cover the cost of repairs or replacement.
Do You Need Trucking Insurance?
Every commercial trucking business must have insurance to comply with state and federal regulations and mitigate financial risks. This is not an exhaustive list of trucking insurance options, so it’s crucial to work closely with your agent to understand how various policies and endorsements may help protect your company’s financial stability.
Finding the right insurance provider is essential to maximizing the value of your investment in trucking insurance. Contact Amco Auto Insurance in Houston, TX, to build a commercial trucking insurance plan tailored to the needs of your trucking operation.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.