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A guide to Commercial Trucking Insurance and Coverage

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Finding good vehicle insurance can be hard especially when it comes to commercial insurance, so there are some things you need to know in order to ensure you walk away with the best deal, including the type of insurance you’re obliged to purchase and keeping costs low. However, you can opt for a insurance that will not charge much, as it is possible to find a cheap company, although you will need to understand that this does not mean good services. Semi truck insurance is liability coverage and the cost can vary widely for leased owner operators, ranging from $1,500 to $2,000 per year at a minimum.

 

Getting set up with insurance

You’ll need drivers’ license numbers and speeding tickets, as your quote will rise if a driver is found out to have a worse history, as well as VIN numbers of each vehicle and a rundown of security on each truck. You’ll also need your insurance policy “dec page”, unless you use a current personal auto one, or you can get your insurer to get the page from your old one. If there’s information you can’t find, companies will give you a quote, but it will change when they find out the facts, so it’s vital to simply ignore the averages, because it’s been widely circulated that prices vary between states, depending on where you reside, and there’s a certain truth to this figures.

A commercial truck is usually transporting freight, plus other duties, so it is every driver’s nightmare to cause an accident, and the impact will negatively impact their career. We can help you find an affordable policy and get a quote today, because every company with a commercial truck will have to have a trucking insurance for it and such expenses can cause an impact on a company’s status. It is not wise to find an agent without having information that will guide you on what type of package to settle for, as the trucking industry is changing and companies leave the market, therefore, you will find new comers in the lucrative insurance premiums.

 

There are several types of auto insurance

There are a number of things that need to be looked at, so here are the some of the most common kinds of insurance coverage relevant to most trucking policies:

– Primary liability ranges from $750,000 to $1,000,000 for property damages, and certain truckers are required to carry at least $1 million. Public liability insurance covers property damage and is required by the FMCSA for operators working under their authority.

– General Liability is provided for the business itself. General Liability Insurance is for risks associated with doing other business and this policy will protect against risks such as falls, therefore it is broader in coverage.

-Non-Trucking Liability Insurance is primarily for drivers with a motor carrier who will still need this to cover injuries while driving for non-business purposes.

– Cargo Coverage: certain truckers are required to maintain certain amounts of cargo and most carry between $100,000 and $250,000.

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