Commercial trucking insurance policies have two functions: compensating for your losses and protecting you against liability claims. They typically cover financial losses. Uninsured or underinsured truckers that get into an accident would have to pay for any liability claims, losses, or damages out of pocket.
Moreover, states require truckers to carry some form of commercial truck insurance. Truckers caught driving without insurance might get fined.
Not sure if your trucking company can afford truck insurance? Assured Standard can help you do the math. Use our quick guide on the average commercial truck insurance policies as a reference.
We encourage truckers to go beyond their state-mandated insurance coverages. Your policy should have enough coverage to cover all the possible damages from a road accident. Keep in mind that most truckers need over $97,000 to recover from a tractor-trailer crash financially.
Will truck insurance premiums exhaust your profits? Of course, not! With dozens of truck insurers on the market, you are sure to find one that offers practical, beneficial policies that match your budget plan. Ask your prospective insurers for cost estimates.
If a trucking company hauls a load without insurance and gets into an accident, they would have to pay for any liability claims, losses, or damages out of pocket. They may also face fines for driving without state-mandated insurance.
Yes, trucking insurance is considered worth it as it covers possible damages from road accidents. Financial recovery from a tractor-trailer crash can exceed $97,000, making insurance crucial for financial protection.
No, with various insurers on the market offering different plans, trucking companies can find policies that match their budget and provide the needed coverage.
Are you having trouble deciding between the different truck insurers? Assured Standard has you covered! Check out our in-depth comparison review of the most widely known truck insurance providers in the country.
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.