Types of Commercial Truck Insurance

Getting the right insurance for your commercial trucking business can be difficult. It’s hard knowing exactly what kind of truck insurance coverage you need. There are different Types of Commerical Truck Insurance for different types of trucking businesses. Use this handy checklist to help you find the right truck insurance coverage for your business.


Types of Commercial Trucking Insurance

Common commercial truck insurance coverages include:

1. Primary Auto Liability

As mentioned, you are required by federal regulations to have this insurance coverage. Every one of your trucks, including leased units, must carry commercial auto insurance. Liability insurance will provide you with protection when a third party becomes injured from an accident. Limits offered by insurance companies typically range from $35,000 to $1,000,000

2. General Liability 

Every state requires general liability coverage. It protects you if one of your drivers causes property damage or bodily damage because of a crash. It covers a driver’s actions who is operating on another person’s premises, like truck stops or loading docks. It also includes load delivery mistakes.

3. Physical Damage

Physical damage coverage will pay for a commercial truck or trailer repairs from damage by things like:

  • Vandalism
  • Collision
  • Theft
  • Natural disasters

Alternatively, if your truck becomes damaged beyond repair, this coverage will replace it. The cost of the truck and equipment will determine the premiums.

4. Bobtail 

Bobtail coverage, also called non-trucking liability, is coverage for circumstances where the truck driver is driving the truck for personal reasons or is off dispatch. Any situations where the owner-operator isn’t covered by primary liability coverage, bobtail coverage will cover kick in. But, bobtail insurance doesn’t protect truck drivers when they’re pulling a trailer, using a truck to make money or driving a truck for a trucking company.

5. Motor Truck Cargo

This coverage provides you with protection if the cargo on one of your commercial trucks is lost or damaged. Premiums will depend on the freight type. As the cargo transporter, it’s your responsibility to establish the value of your load and mutually agree on that value with your customer prior to shipping. Generally, semi cargo values are set by contract, by bill of lading disclosure or by published tariffs. The cost of your big rig cargo insurance quotes you receive will be based on the established value.

6. Rental Reimbursement

Rental reimbursement is exactly what it sounds like — it provides you with money for renting a replacement truck while your vehicle is being repaired.

7. Trailer Interchange

Trailer Interchange insurance provides Physical Damage insurance for trailers being pulled under a trailer interchange agreement. This is essentially Physical Damage insurance for non-owned trailers. This insurance protects you if the trailer is damaged by collision, fire, theft, explosion or vandalism.

8. Medical Payment

Medical payment coverage pays for any medical bills you or a passenger incur while driving or riding in the truck. Each state will vary in this coverage.

9. Uninsured/Underinsured Motorists

This insurance will protect you if another person hits you and doesn’t have liability insurance. 

10. Reefer Breakdown Coverage 

If you own refrigerated trucks, reefer breakdown coverage would cover the cost of things like:

  • Refrigeration breakdown
  • Lost cargo
  • Damage to products because of a collision

Some insurance policies have exclusions. For instance, certain products are excluded, such as tobacco products, frozen food, or seafood.

Keep in mind, while cheaper trucking insurance is always nice, it might not provide you with the protection you require. While most basic liability insurance coverages are similar across insurance providers, you should thoroughly examine other coverages, including and beyond those discussed above.

Contact us to help you to choose the right coverage for your type of business -> www.arrowtruckinsurance.com or call us 855-832-1092

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