Running a commercial trucking business or fleet takes a lot of work—and if you are an owner-operator, you will understand that one of the first things you need to do is secure trucking insurance. One specialized type of insurance that you should look into is semi commercial trucking insurance.
Semi-trucks are tractors that can be considered a combination of trucks and semi-trailers. They are usually used for hauling freights for commercial purposes.
If you are an owner-operator leasing to a motor carrier, you may have likely obtained coverage through the liability insurance of the trucking company. However, this usually takes into effect when you are on dispatch. You will be offered protection from liabilities should there be any third-party property damage or injuries.
Other types of policies you should look into related to semi commercial trucking insurance include general liability insurance—which is a mandatory type of coverage should an accident occur and damage another person’s property. Primary liability will keep your fleet protected in the event of a third-party injury.
There is also non-trucking liability insurance, which makes sure that you are still protected if you are driving your work vehicle for non-business purposes. Physical damage insurance can protect you from potential damages or losses that occur from an accident. This is beneficial for owner-operators and motor carriers.
To add to physical damage insurance, you may also get equipment coverage for your business’ other materials.
If you are under lease to a motor carrier, you will likely pay a lot less for your commercial trucking insurance. If you are under your own authority, the amount you will have to pay is far more expensive. The cost of your policy will also be affected by your business’ credit history, your type of cargo, types of trucks in your fleet, and other factors.
Interested in learning more about commercial trucking insurance policies? Contact Assured Standard today!