What does the trucking insurance covers?
If you are a person who owns a truck or maintaining a business which involves with deliveries, I’m sure you have come across with the trucking insurance requirement. Since the insurance requirement is a kind of technical thing, you should have a proper understanding to select the best coverage for your trucks and the trucking based business.
When we consider about the trucking insurance, a comprehensive trucking insurance should comply with lots of guidelines than a normal motor insurance policy. As an example, the trucking insurance policy should be able to cover the damage caused to the cargo carried by the truck, due to an accident. Furthermore, the scope of cover should specially expand to cover the liability arisen from the third parties due to an accident. These two examples are unique for a trucking insurance policy and the truck owner should concentrate on them when they do purchase a truck insurance policy.
Since a fully loaded truck can create a catastrophic loss due to an accident, the state has implemented a minimum liability amount for truck liability. In general if the truck involves with 10,000 GVW (gross vehicle weight) then you should have a minimum of $750,000 liability under your truck liability cover. These limits are imposed by the relevant regulatory, and you should adhere to them in order to keep your truck clean in the industry.
Furthermore, this trucking insurance cover should be expanded to cover the good carry at the truck, and this value should be judged by the policy owner. Basically, the limits should judge according to the usage of the truck and the kind of goods carried by truck. Therefore, if you are carrying a huge stock of items at one time, it is always safe to declare how much of goods will be carried at one event when you apply the customers’ goods cover for your truck. If you do so, it can make you comfortable at a catastrophic loss created for the goods transferred by you, due to an accident and the insurance company will take care about the loss occurred to your customer “up to the limits declared in your insurance Policy”.
In addition, if you compare the trucking insurance rates with normal vehicle insurance rates, you may see the rates are higher than the standard motor insurance rates. The reason is the risk involvement of trucks are much greater than a private car and the insurance companies need to charge a higher insurance premium to keep the loss ratio down. However, if you do a comparison in the market, I’m sure you will be able to find better and competitive terms from various insurance companies in the industry, and you can select an insurer which meets with your criteria.
For additional information or if you wish to obtain a business insurance quote, please contact SafePro Insurance Services www.safeproins.com.
Woodland Hills, CA
Phone: 1-888-411-7679, Extension 701
Contact: Quotes@SafeProIns.com
About Author :: SafePro Insurance Service is an independent insurance agency specializing in all types of business insurance including general liability insurance, fire insurance, property insurance, workers compensation insurance, commercial auto insurance, truckers insurance, motor truck cargo insurance and general cargo insurance in California.
Processing your request, Please wait....
