Commercial truck insurance, generally used by trucking and transport companies, covers the damage costs of the accidents caused to the truck by the employed driver, in any given situation. It is ideal to have this insurance for your company because damages and repairs due to truck accidents are quite expensive and problematic, if not covered by insurance. Different companies have varying truck insurance quotes. The same service can be found for different prices. It all depends on the quality of the service, the coverage, and whether trucking insurance is affordable for your business.
Here are the coverages under commercial truck insurance.
- Physical Damage
This coverage is for the truck if it exhibits any signs of damage by accidents, criminal acts, calamities and damage beyond repair. The coverage depends on the value of the truck itself, and if it is irreparable after damage, it can also be replaced under this coverage.
- General Liability
Under this, the driver is immune for being sued or persecuted for any damage and injury caused by him/her due to an accident. It is useful for employee safety and security under the company.
- Motor Truck Cargo
The driver is not liable if the truck and goods being transported are lost or damaged.
- Trailer Interchange
When the driver of the truck does not own the vehicle himself, this coverage protects him from being responsible for any damages.
- Bobtail
Here, the driver is insured when the truck is used for non-commercial or personal reasons or during the time when it is not functioning for company purposes.
The price of commercial truck insurance varies by the model of the truck. You can choose the amount suitable for your company as per your preferences. It is essential to note that the cover depends on the limits of the insurance company too. Trucks are more likely to get into accidents and property damages as not every driver is reliable or in control of the situation. It is an inevitable event for all trucking companies. Keeping your vehicles insured under the right insurance company provides reliable service and better coverage.