What Commercial Insurance Do Trucking Companies Need To Cover Their Semi-Trucks?

Semi-trucks are larger vehicles that are frequently used for the transport of goods, materials, and cargo. As such, there are specific types of coverage for this mode of transport. Semi-truck insurance is what you need to remain safe on the road at all times—whether you are in it for the short- or long-haul.

With semi-truck insurance, you will have liability coverage that safeguards you from property damage and bodily injury that could arise from an accident on the road. Inclusive of this are the possible legal fees, settlement costs, and medical bills that may come along with these events. 

Depending on the severity of the incident, these costs can skyrocket and cost your business a lot—possibly affecting your ability to run and function altogether.

All states require trucks to have insurance, but the minimum coverage limit will differ per state. In addition to this, you may need to look into physical damage insurance if you have a loan on your semi-truck. There are other add-ons you should also consider for your trucking company. 

Aside from the primary liability insurance and physical damage coverage, there is also bobtail insurance which you may need if you are driving your vehicle without a trailer attached to it. If your trucks carry cargo, you should also look into motor truck cargo insurance.

A lot of people may wonder what the cost of getting semi-truck insurance is, and this will depend on your driving and claims history, types of coverage in your package, and the limits of your coverage. 

At the end of the day, you should ensure that your commercial insurance policies for your semi-trucks are well-established and comprehensive enough to protect all areas of your business. You can also speak directly with your insurance agent to package your policies in such a way that you get to save on costs.
Want to learn more about commercial truck insurance? Reach out to Assured Standard today!