If a truck driver is found guilty of driving under the influence, they may be banned from driving by the FMCSA and face other financial and legal penalties. Depending on your insurance plan, you might also get your trucking insurance coverage suspended or revoked if you don’t abide by their rules and regulations.
After a truck insurance company cancels a policy, it is required to notify the state your truck is registered in. Since trucking insurance is a legal requirement in most states, you may be compelled to suspend operations until you can apply for a new insurance plan and complete other requirements.
There are several reasons why your truck insurance might be suspended or revoked. Reading the fine print on your contract should help you avoid some of these scenarios:
If you receive a notice that your trucking insurance has been revoked, you should contact your insurance company to figure out what you can do to renew your plan. Depending on your case, you may need to apply for a different insurance plan with another company if they are no longer willing to provide trucking coverage for your business.
After your insurance has been canceled, you can expect to pay higher premiums. It’s also important to remember that you’ll need to pay out of pocket for any damages that occur when you’re not covered. Only resume trucking with proper insurance coverage.
Read on to learn more about which states provide the most affordable trucking insurance rates at Assured Standard!