For the last year, our Trucking Insurance 101 series aimed to help educate the industry about the coverages available to motor carriers and brokerages. What follows is a recap of the posts written by Truck Writers’ agents.
In order to operate, all trucking companies must have Auto Liability coverage. This coverage consists of two main components: Bodily Injury and Property Damage. These coverage will react in the event of an at fault loss. Learn More.
Non-Trucking Use Liability
If an Owner-Operator is driving a rig for personal use and not to further the business of a Motor Carrier, the Carrier’s Liability insurance will not apply in the event of an accident. This is when Non-Trucking Use Liability would takeover. Read More.
One of the most basic risks a Motor Carrier accepts on a daily basis is the responsibility to protect the commodities they haul from pickup to delivery. To help mitigate this risk, Motor Carriers purchase Cargo Liability insurance. More Information.
Physical Damage and GAP Coverage
Acquiring a truck is a large investment. Now, imagine that truck is totaled. Do you have enough saved up to replace it? Physical Damage insurance pays for damage to purchased or leased equipment in the event of a loss. Find out More.
Auto accidents are not the only risk trucking companies face. To handle lawsuits and judgments arising out of various situations not covered by Auto Liability, trucking companies should consider General Liability insurance. Get more information about this coverage.
The trucking industry saw a change to its Workers’ Compensation structure this year, as the industry moved to one combined class code. Learn more about this change.
Hired and Non-Owned Auto Liability
Hired and Non-Owned Auto Liability is not required by the FMCSA in order to be a legally registered carrier. It is considered an “optional” coverage, so it is at the discretion of your insurance agent to offer the coverage. What’s covered?
Brokerage Coverage Options
A Broker who understands its industry, exposures, and available coverage options can minimize its risks. Find out more about the different coverage available in today’s marketplace.
For more information about any of the above covers or to receive a trucking insurance quote, please contact a Truck Writers agent today!