Fundamental Insurance Coverages For New Trucking Companies
As a new trucking company, transportation insurance companies are lining up to present you with their quotes. As you sift through the various options, it’s good to have an understanding of what’s actually going to be covered by your policy. While it would take a far longer article to discuss all the possible coverage options available to you, here are three key coverages that you should expect to include in your policy.
Motor Truck Cargo Insurance
Cargo insurance covers the freight that you’re going to be transporting in case they become lost or damaged. These policies are purchased with a maximum load limit and you want to make sure that you have adequate coverage for what you’re going to be carrying.
Truck Liability Insurance
Truck liability is required by federal and state agencies and will most likely be the most expensive part of your policy. It covers you in case you’re responsible for an accident that leads to property damage or injury to a 3rd party.
Physical Damage Truck Insurance
Physical damage truck insurance protects your truck and trailer equipment against damage or loss. You can get coverage for specific perils, which is the cheaper option, or you can get comprehensive coverage.
Other coverages that you may need include general liability trucking insurance, pollution insurance, property and equipment insurance. The best transportation insurance companies have no problem helping you customize your policy to meet your needs.