For motor trucking companies, risk comes with the territory. From bodily injury and property damage to combating libel and slander exposures, disaster can strike anytime. That’s why having motor truck general liability insurance is so important.
This type of general liability insurance can help prepare for worst-case scenarios long before they happen. Depending on your need, these scenarios can provide relief in several ways you might not even expect.
As mentioned above, general liability is vital in mitigating the risk that comes as a result of business activities. Though the policy is not required by law, operating without this truck insurance can be disastrous.
Most motor carrier businesses do not have the capital to address lawsuits such as injury liability medical claims.
Operating without a policy for insurance general liability can also discourage other companies from doing business. Since they cannot be assured of payment for injury and property damage that is directly related to operating hours, there is little incentive for partnership.
Motor truck general liability can mitigate quite a few scenarios, as seen below:
Motor-truck general liability insurance may provide coverage options that cover a lot of situations, including operations damage to premises and activities not directly related to truck use. A comprehensive list is seen below:
How much trucker’s general liability insurance you need is dependent on the size of your company. If you employ in the hundreds or thousands, your motor truck general liability coverage will need to be in the millions. If you employ a dozen, you will need a lot less truck general liability insurance.
It would be best if you asked which liabilities you have to deal with first, based on your business plan. How often do customers have to pass through the workplace? Are they likely to meet accidents? You should then plan for coverages such as bodily injury. Trucks that go through loading docks, truck stops, and other areas in non-company premises will need to be prioritized for trucking insurance if they face the most risk with property damage you cause.
The California Department of Insurance website is an easy to read resource. It gives you a detailed rundown of definitions of all of the types of insurance, including commercial general liability insurance and automobile insurance.
The American Trucking Association is the largest national trade organization that advocates for the US trucking industry. It is empowered to carry out arbitrations between company and customer parties when a loss or damage claim is filed.
The FMSCA is an independent government authority from the DOTA. It is in charge of regulation and safety oversight of 500,000 commercial trucking companies.
As we’ve mentioned before, the risk is part of the business. An investment in this type of truck insurance is ultimately an investment in your company's future health.
Motor truck general liability may not be required by law but owning one is practically an unspoken rule for doing business.
Few can predict when one of your trucks might take a wrong turn through another company’s docks truck stops, etc., leaving you in trouble.
In this case, it might be better to plan for the future rather than wait for it to happen to you.
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