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Commercial Auto Insurance for Semi Truckers
Understanding the importance of Auto Insurance for Semi Truckers and Tractor Trailer.
Importance of semi-trucks in transportation industry is huge. These vehicles have made transportation of goods within U.S. much quicker and cheaper. But driving this kind of vehicles isn’t an easy thing and can be very risky. The number of fatal accidents involving large trucks is extremely high which leads to serious costs for the owners of semi-trucks. That’s why having proper truck insurance is critical to protect the investment and costs if you or your drivers have misfortune to be involved in car accident.
What does Semi-Trucks Insurance Cover?
Its mandatory for all commercial trucks to be covered with liability insurance that covers injuries and property damage caused to others in an accident where you or your drivers are guilty. Liability minimums are mandated by law in each state, but truckers who frequently cross state lines have to follow federally mandated minimums as well.
Those minimums depend on the weight class of your truck and the types of materials that are being carried by them. For example, if you own a Class A semi-truck weighing 10,000 pounds and carrying hazardous materials you will be required to have at least $1 million coverage, while a truck weighing under 10,000 pounds and carrying general materials will only need coverage of $300,000. If trucks carry explosives then the minimum amount of coverage is $5 million, regardless of weight.
In addition to the primary required coverage you can choose from the following truckers insurance policy options as well:
- Physical damage insurance
- Medical payments insurance
- Equipment coverage
- Motor truck cargo insurance
- Bobtail insurance
- Non trucking liability insurance
- Occupational accident insurance
- Non-owned trailer coverage
How much does Semi-Truck Insurance cost?
The cost of your trucking insurance policy dependents on some factors which include:
- The number of trucks
- The size, age, model and condition of your truck(s)
- Experience and driving-record of driver hired by you
- The routes you will cover and annual mileage
- The types of goods you will carry
- The types of coverage options you select
To get the right amount of coverage for your needs and avoid overpaying for coverage call us today or fill out a quote request from the top page or email one of our staff members at: firstname.lastname@example.org
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