YOU ASK:

What types of commercial truck insurance coverage can I choose between?

WE ANSWER:

Recent years have witnessed a considerable increase in truck insurance, which has left many trucks uninsured or not adequately protected. However, companies owning and using trucks for commercial purposes must consider insuring their vehicles properly, since trucks usually cause some of the most serious accidents nationwide, and they are also very expensive to repair, if damaged.

Commercial Truck Insurance Coverages

Common coverages available under commercial truck insurance include the following:

General Liability coverage is mandatory in every state. It protects the driver of a commercial truck against liability if the driver causes bodily injuries or property damage as a result of a crash. Limits offered by insurance companies typically range from $35,000 to $1,000,000
Physical Damage coverage pays for repairs of a commercial truck or trailer damaged by collision, vandalism, natural disasters, theft, etc. Alternatively, if the commercial vehicle is damaged beyond repair, it can be replaced. Commercial truck physical damage insurance premiums are determined by the price of the vehicle and the equipment.
Motor Truck Cargo coverage provides protection to the driver of a commercial truck if the cargo is damaged or lost. Premiums are contingent on the freight type, and coverage can be between $10,000 and $100,000.
Trailer Interchange coverage protects commercial truck drivers against property damage liability when they are in possession of a non-owned vehicle.
Bobtail coverage, also referred to as Non-trucking liability, applies to situations in which the truck driver is off dispatch or driving the vehicle for personal reasons. Any situations, in which the owner-operator is not covered by the Primary Liability policy, are covered by Bobtail coverage. However, note that Non-trucking liability insurance does not protect truckers when they are using the truck to make money, pulling a trailer, or driving it for a trucking company.
Truck Insurance ICC (Interstate Operating Authority) is a federally-regulated permission which every truck transporting freight between states must have.

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