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    Box Truck Insurance

    Box truck insurance is a type of commercial auto insurance policy that provides many businesses with truck insurance for their vehicles. When it comes to liability insurance and collision coverage, investing in cargo insurance and other types of insurance can help protect your company from expensive medical fees, legal fees, and repair bills.

    The types of businesses that typically require insurance for box trucks include owner-operators and business owners in retail and wholesale distribution, contractors and builders, furniture delivery companies, and movers.

    With the types of crowded roads and dangerous drivers that you see today, investing in box truck insurance coverage for your company can protect you from the large number of risks that can potentially affect your fleet of box trucks.

    Understanding Box Truck Insurance

    The main types of coverage for box truck insurance include bodily injury liability and property damage. Some add ons that extend your insurance needs include cargo insurance and collision damage liability. Optional coverages can extend your policy’s protection, including collision damage, cargo insurance, and other coverages.

    Basic box truck insurance policies cover:

    • Property damage liability - Takes care of the cost of property damage including any damage to vehicles and buildings
    • Bodily injury liability - Takes care of medical costs of any people injured in an accident when the driver or employer is at fault

    Some other options include:

    • The cost of cargo loss or damage
    • Non-trucking liability
    • Damage caused by theft, fire, and other risks
    • Damage caused by vehicular collisions

    Why Fleet Companies Need Box Truck Insurance

    No matter the type of business that uses box truck insurance, each state has its own minimum requirements for legal protection. It pays off to do your research into box truck insurance for your state so that you can get the right vehicle coverages you need for your trucks.

    Although there are minimum requirements for box truck liability coverage, it's often a good idea to look into higher coverage limits to protect your company's property along with your employees. Often, an accident can cause a much higher liability than expected for your business, especially when it comes to bodily injury.

    How This Differs From Other Commercial Auto Insurance

    A quote for box truck insurance can be far more expensive compared to a smaller vehicle because heavier vehicles need higher coverage limits in place. As a result, they cost more to insure. In addition, box trucks can cause much more damage on the road due to slow braking speeds and their large sizes.

    Another factor that can impact your quote for box truck coverage is the location it operates in. Busy highways and neighborhoods with higher costs of living can lead to higher rates. Furthermore, box trucks that are intended for interstate travel will generally have to pay more for their insurance policy.

    Depending on the type and value of cargo transported by box trucks, the cost may also increase. Hazardous materials or trucks that transport material may need to compensate for the added risks of injury or damage in the event of a crash.

    To reduce the costs of box truck coverage, a business should do comprehensive background checks on their box truck drivers to ensure that they have clean driving records.

    Unlike commercial types of insurance, those who own box trucks should also get other types of coverage that can help cover an accident on the road:

    • Towing Coverage – If a box truck isn't drivable and needs to be taken to a mechanic for repair
    • Unattended Truck Coverage - For those who need to stop for food or rest during a long trip and are prone to vandalism, theft, and more
    • Accessories Coverage - Often, box trucks will have expensive GPS equipment or other accessories that might be damaged in an accident or stolen

    Choosing the Right Box Truck Insurance Provider

    When it comes to choosing the right policy for your company, it's worth looking at a large range of companies that specialize in dealing with box trucks. Something you should prioritize is a company's longevity and reputation. The best truck insurance companies are fully transparent when it comes to processing claims and how long they usually take.

    What to Look for in an Insurance Provider

    A good insurance provider will have clear policies and plans laid out for their customers. Looking at the transparency of their pricing, level of customer service, and experience with state-specific regulations can help guide you towards finding the best fit for your brand.

    Reading reviews on social media and other online platforms can give you an honest review of their services and how they deal with customers. In addition, striking the right balance between affordability and quality can help you find the best premium for your box trucks. Multi-policy discounts are also something to consider if you're on a tight budget.

    The Average Cost of Box Truck Insurance

    The average cost of insuring your box truck depends on the state you live in as well as the type of coverage and any add-ons you choose on top of your state's minimum regulations. Having a higher coverage limit can help you more effectively protect your trucking business.

    Usually, the cost of insuring a single box truck for an established business with no reported accidents ranges from between $3000 and $5000 per year, but newer businesses might have to pay more than this range.

    Other important factors that can impact a box truck insurance quote are claims histories and driving records of any drivers employed under your business.

    Frequently Asked Questions

    What do I need box truck insurance for?

    As a legal requirement for American states, box truck insurance is very important for businesses that haul goods, including those that work as couriers, expeditors, and household movers. A single accident can cause many financial problems for companies of all shapes and sizes, so having protection for property damage, legal fees, and medical costs can help solve these issues.

    Is box truck insurance expensive?

    While box truck is relatively more expensive compared to insurance for smaller vehicles, the large dimensions and weights of box trucks intensify potential damage that can occur during an accident. Depending on your type of business, a truck liability insurance policy can cause between $3000 and $5000 per year or upwards of that depending on a variety of factors.

    Additional Resources

    Safety Training - U.S. General Services Administration

    The Defensive Driving Course by the GSA is recommended for box truck drivers to avoid collisions and traffic violations.

    While it may be financially intimidating for many businesses to invest in box truck insurance for their brand, a range of coverages can help pay for any financial costs incurred during an accident.

    To get the best commercial truck insurance quote for your business, our team at Assured Standard can give you a range of commercial truck insurance policies. This can help you get the protection you need in the future, as long as you're mindful of the terms of your policy and the reputation of the insurance company you're working with.

    Contact Assured Standard today to get an online consultation for your business!

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    Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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