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.
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 financially compensates for first-party property damage sustained during a covered accident or peril.
Extensive property liability coverages cover third-party claims on property damage resulting from a covered accident.
Every box truck insurance plan should carry motor truck cargo coverage since it will protect cargo from perils, theft, vandalism, and road accidents.
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.
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!
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.