Trucking & Transportation
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Trucking & Transportation Provided By Omega Insurance Agency.
If you are an independent trucker or work for a trucking company, you will need the customized protection provided by trucking insurance. This coverage is designed to protect drivers and owners of these high-risk, heavy vehicles and their cargo. However, it would be best to tailor your benefits to your specific needs, which will mean digging deep into the details of all your policy options.
Talk to a SpecialistHow Does Trucking Insurance Work?
At the core of the services offered by commercial truckers is transportation. If you are one of them, you must do your job safely, efficiently, and professionally. However, if you fail, the results might hurt other people and cost a lot of money. By having trucking insurance, you will be able to pay the recovery costs without costing your business an arm and a leg.
How Much Insurance Does A Trucking Company Need?
There is a multitude of laws and regulations that govern how much truck insurance you need to carry.
- Most independent truckers and trucking companies must comply with coverage requirements set by the Federal Motor Carrier Safety Administration (FMCSA). Rules will differ based on various factors.
- If you finance a truck when you buy it, you might have to purchase physical damage insurance.
- Certain trucking companies must carry surety bonds.
Our agents are experts in all aspects of trucking insurance, which is why we are committed to working with you to determine where your coverage needs lie. Plus, if you are concerned about keeping your plan affordable, we can comprehensively search the insurance market to find you a plan that is both to your benefit but still affordable.
What Kind Of Insurance Do Truck Drivers Need?
Truckers need to insure both their vehicles and the business liabilities they assume. Therefore, they will need several types of coverage within their trucking plan:
- Physical Damage Insurance: This will pay for damage to your truck and trailer following collisions or other accidents.
- Non-owned Trailer Physical Damage Coverage: If you own your cab but not your trailer, you will likely have to insure the trailer separately.
- Motor Truck Cargo Insurance: As a subset of inland marine insurance, cargo insurance insures the items in your truck that are shipments.
- Primary Trucking Liability Insurance: Liability coverage pays for third-party injuries or property damage because a wreck is your fault. Primary coverage pays for at-fault accidents that occur while you are on dispatch.
- Non-Trucking Liability Insurance: When you drive your truck for personal or non-business purposes, you can extend your liability coverage during this time.
- Trucking General Liability Insurance: During times of loading, unloading, or other activities involving a parked truck, this coverage can apply. It will pay for third-party property damage or bodily injuries.
- Bobtail Liability Coverage: If you are driving without a trailer or an empty trailer (even on dispatch), this liability coverage will apply.
- Environmental Liability Coverage: Truckers who haul hazardous materials or contaminants will need this coverage. It can help you clean up the damage and pay other costs resulting from spills and other accidents.
A full-time trucker will also likely qualify for worker’s compensation coverage if they get hurt in a wreck on the job. But, again, talk to your agent about the best way to tweak your plan to your benefit.
Already have Trucking & Transportation? Switching is easy
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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Tell us a little about yourself and how we can help. One of our knowledgeable advisors will follow up with coverage options tailored to you and your trucking business.