Trucking insurance offers a broad range of coverages that greatly benefits trucking service providers. These policies play a paramount role in any business continuity plan. Now, while the policy’s extensive coverage yields several advantages, newbies might find the complex jargon and terminologies confusing. How do you start understanding such a comprehensive program?
Commercial truck liability insurance is an all-encompassing policy that provides liability protection against bodily injuries, physical damage, and property damage. Standard policies focus on third-party claims. However, you can also top-up your policy to cover first-party injuries and damage sustained from covered accidents.
Are you worried about what might happen if you default on truck insurance payments? You don’t have to make a wild guess—Assured Standard can help. Check out our detailed explanation of what happens if you stop paying premiums midway through your policy.
If a third party sustains physical injuries from a covered incident, body injury liability can help settle the medical and legal fees associated with the claim. An extensive policy with high coverage limits may have sufficient funds to cover the entire treatment and recovery process.
Physical damage coverage provides compensation for first-party damages that stem from covered accidents, perils, and incidents.
You can rely on property damage liability protection to shoulder third-party claims on damages resulting from covered accidents and mishaps.
Note that this guide simply serves as a starting point on understanding commercial truck insurance. For more information about how these policies would benefit your business, consult a reputable insurer. Have their agent assess your insurability so that they can draft a unique plan customized to your individual insurance needs.
Do you want a more detailed explanation of commercial truck insurance? Assured Standard has you covered. Check out our free insurance resources for everything you need to know about protecting your business with commercial truck insurance policies.
Arthur Williamson graduated with a degree in Business and Management at the University of California, Berkeley. He is knowledgeable about what small and big businesses require to keep operations moving.