There are a lot of risks involved in owning a trucking company. That’s why having the right level of transportation insurance is key to your long-term success. Here are some of the insurance coverages you’ll need to include in your policy when you’re getting ready to start your business.
Truck Liability Insurance
Truck liability coverage is required for interstate transportation and covers you in case you’re found to be at fault in an accident during a delivery. With this coverage, your policy will pay for the third party’s expenses related to the injury and property damage.
Non-Trucking Liability Insurance
It’s possible that you’re going to be driving your truck for reasons other than to transport goods. Similar to truck liability, if you’re at fault in an accident, your policy will cover the expenses related to the third party’s injuries and property damage.
Physical Damage Truck Insurance
Physical damage truck insurance is there to protect your investment. Depending on your level of coverage, your policy will cover the cost to repair damages to your truck or trailer equipment.
Your truck may get to its destination safely, but the cargo may not. When the cargo gets damaged or lost along the way, cargo insurance will cover the cost to repair or replace them.
There are other coverages that fall under the umbrella of transportation insurance. Work with an experienced agent to ensure that your policy is aligned to your exact needs.