Commercial truck insurance has many similarities to regular vehicle policies, but there are additional facets involved as well. There are minimum limits required by law, and then there are coverages needed based on the equipment you have and the type of hauling that you do. Factors that may influence the cost of insurance premiums to include the following:
- Value of your semi-truck.
- Whether you haul for a fleet or are an owner-operator.
- What your typical cargo consists of.
- Your driving record.
- Where you haul too.
Finding the Complete Package
There are basic protections that all semi tractor-trailer insurance companies include in a standard policy. These include property damage liability, bodily injury liability and collision coverage. Each of these focuses on the risks involved if your rig was to be involved in an accident. There are also aspects not directly related to an accident that may be important for you to carry on a policy:
- Bobtail insurance
- Occupational liability coverage
- Cargo insurance
It’s also important to note that if you are hauling under the dispatch from a motor vehicle carrier, you are likely covered by their policies. It is important to know all the intricacies of a commercial truck insurance policy. A professional that understands all of these situations can help you find the most cost-effective coverage.