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What Type Of Insurance Do You Need For A Commercial Box Truck?

What Type Of Insurance Do You Need For A Commercial Box Truck?

Box truck insurance comes with a steep price, but the liability protection they provide plays a paramount role in any trucking service provider’s continuity plan. Bear in mind that box trucks are prone to accidents. Their tall, narrow cargo trunks leave them susceptible to rollovers and crashes, which could amount to millions of dollars worth of losses.

Box truck insurance policies vary from trucker to trucker. However, most policyholders would need general liability insurance, physical damage coverage, motor truck cargo insurance, non-trucking liability insurance, and property liability protection. All of these coverages combined protect you against first- and third-party claims.

Do you want to compare box truck and semi-truck insurance premiums? Assured Standard can help! Check our quick introduction on the average semi-truck insurance premiums per annum.

Common Box Truck Insurance Coverages Explained

Bodily Liability Insurance

This portion of the policy covers third-party claims on bodily injuries. Depending on the extensiveness of your policy, bodily liability could shoulder the victim’s entire treatment and recovery process.

Physical Damage Coverage

Physical damage coverage financially compensates for first-party property damage sustained during a covered accident or peril.

Property Liability Protection

Extensive property liability coverages cover third-party claims on property damage resulting from a covered accident.

Motor Truck Cargo Insurance

Every box truck insurance plan should carry motor truck cargo coverage since it will protect cargo from perils, theft, vandalism, and road accidents.

Non-Trucking Liability Insurance

Adding non-trucking liability protection to your policy extends physical damage coverages to damage sustained even while the vehicle is not on the road.

Consult with a professional insurance advisor if you cannot objectively identify your business’ coverage needs. Do not carelessly minimize your coverage terms to reduce policy premiums. Otherwise, you’ll run the risk of having insufficient coverage limits at crucial crises and incidents.

Frequently Asked Questions:

What type of insurance is needed for a commercial box truck?

Commercial box trucks generally require general liability insurance, physical damage coverage, motor truck cargo insurance, non-trucking liability insurance, and property liability protection.

What does bodily liability insurance cover?

Bodily liability insurance covers third-party claims on bodily injuries incurred during a covered accident.

What does physical damage coverage offer for box trucks?

Physical damage coverage compensates for first-party property damage sustained during a covered accident or peril.

Why is motor truck cargo insurance important for box trucks?

Motor truck cargo insurance is crucial as it protects cargo from theft, vandalism, road accidents, and other perils.

What does non-trucking liability insurance cover?

Non-trucking liability insurance extends coverage to damage sustained while the vehicle is not on the road.

Do you have a few queries about box insurance left? Assured Standard has you covered. Read our in-depth guide on applying for box truck insurance policies to learn more!

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Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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