"Big Rig" Insurance – What to Look For in a Commercial Truck Insurance Policy
- May 11, 2017
- Posted by: marlenedubois
- Category: CPR Training
“Big Rig” insurance is usually essential for the independent owner/operator. In today’s highly competitive commercial trucking industry, an owner/operator has to be a shrewd businessman, in addition to get the best insurance for the lowest premium.
Are you a person that will loves sun-drenched afternoons cruising on mountain roads or along the coastline? Can you close your eyes in addition to see the highway stretch out before you all the way to the horizon?
Your big rig may be your family business. Do you hit the road with your wife as a driving team?
Are you a person who enjoys the freedom of being your own boss as an independent owner/operator? Or are you a leased operator?
Do you own more than just one truck?
No matter what your motivation is usually for owning in addition to operating a commercial semi truck, you will need commercial truck insurance. however all commercial truck insurance policies are not the same.
Here are some features in addition to coverages you should look for when shopping for commercial truck insurance:
o Only accept an A-rated insurance company so you’ll have peace of mind knowing that will your insurance company has the financial strength to take care of you when covered losses occur.
o Comprehensive Coverage – protection for non-collision losses, such as fire, smoke, windstorm, theft, lightning, hail, animals, vandalism, even low branches in addition to overhangs.
o Replacement Cost coverage – on your personal property that will is usually stolen, damaged or destroyed.
o Physical Damage/Collision coverage – when your vehicle runs into something.
o Replacement Cost Coverage on the vehicle, which pays to replace your vehicle which has a brand brand-new one of like kind in addition to quality. Most policies only pay the Actual Cash Value for a total loss.
o Liability limits – buy high liability limits, the idea’s inexpensive coverage. Skimp on additional coverages however don’t skimp here. Personal injury attorneys love truck accidents in addition to get big jury awards.
o Attached Accessories Coverage – includes running lights, antennas, chrome, custom wheels, custom paint, satellite dishes, in addition to such. Many insurance policies don’t cover customizing equipment. Make sure yours does.
o Non-Trucking Liability, or”Bob-Tail” coverage – takes care of you when you’re using your rig at times you’re not under dispatch.
o Motor Truck Cargo Legal Liability – covers your load against damage coming from certain causes.
o Trailer Interchange coverage – if you have a trailer interchange agreement, you need This particular coverage to protect you while you’re in possession of a container or trailer that will you don’t own.
o A trailer interchange agreement is usually a contract that will arranges to transfer a trailer coming from one trucker to another in order to complete a shipment.
o Refrigeration Breakdown Endorsement – provides coverage up to a separate limit shown on the schedule for spoilage of perishable stock while the stock is usually in transit on a vehicle.
o Non-owned trailer – This particular is usually third party coverage for a trailer that will you are hauling owned by another entity.
o Emergency Expenses Coverage – pays for lodging or travel back home if your unit is usually damaged or destroyed by a covered loss more than 50 miles coming from home.
o Towing in addition to Roadside Assistance – first dollar coverage, no out-of-pocket costs for towing, flat tire modifications, fuel delivery in addition to locksmith services.
o Occupational Accident Coverage – pays your medical bills for certain covered accidents while you’re working. Crucial coverage if you do not carry health insurance for yourself.
We may need more information coming from you such as driver in addition to equipment lists, MVR’s in addition to loss runs.
Commercial trucking insurers also offer a variety of discounts, such as:
o Safety Course
o Prior Insurance
o Renewal discount for maintaining continuous coverage
You will also find a wide choice of deductibles in addition to payment plans available. Choosing higher deductibles will lower your premiums. Flexible payment plans will help you manage your budget.
By using these strategies, you’ll develop the best chance at having fun cruising the roads in your “Big Rig!”