Nationwide, 18-wheelers are used by trucking companies to deliver goods. Large trucks require comprehensive insurance to protect drivers and trucking companies against common liabilities and serious financial losses. It is possible for insurance carriers to provide information about different coverage levels and offer insurance quotes to all businesses.
They Both Have Protection for Liabilities
Semi-truck or commercial auto liability insurance and standard auto liability insurance cover liability in the event of an accident caused by the owner. A liability policy pays up to a predetermined amount for accidents involving a single victim and a maximum amount for accidents involving more than one victim. Find out more about the levels of liability and other coverage when insuring your semi truck by calling an insurance carrier.
Protecting Against Larger Risks
The drivers of semi-trucks are exposed to greater risks than other drivers, which is why they need more substantial liability coverage. It is primarily because collisions with 18-wheelers result in more significant damage than collisions with standard vehicles. Those involved in an 18-wheeler accident are likely to suffer more serious injuries that require more extensive coverage for medical treatment costs. To protect themselves from serious financial losses, trucking companies need these policies.
Additional Coverage for Semi-Trucks
A trucking company has access to additional coverage for its fleet of 18-wheelers. A non-liability policy, for example, may be helpful when dealing with accidents that occur during non-business hours. Drivers operate semi-trucks to travel home or other uses. The policy will cover an accident that occurs while driving outside of normal business hours.
Motor truck cargo coverage protects the cargo inside the truck trailer. The policy pays the trucking company to offset the financial loss if the cargo is lost, stolen, or damaged in an accident.
Trailer interchange agreements are common among commercial truck drivers. According to these arrangements, the truck driver handles any damage to the trailer that occurs during their time with the trailer. To protect these trailers and cover the cost of repairing them in case of damage, trucking companies can purchase trailer interchange liability insurance.
For trucking companies that use large trucks to tow, hook-on towing coverage is also required. Towing insurance protects the company from liability such as auto damage caused by towing a vehicle to a mechanic’s shop or body shop.
Why Trucking Companies Need Coverage
Before obtaining semi-truck insurance coverage, trucking companies must meet certain requirements. The first thing they need to do is get a copy of the current policy declaration page that shows the description of the semi-truck and the amount that the trucking company can expect to pay each month for coverage. As a next step, they require a copy of each driver’s state-issued commercial driver’s license, as well as a copy of each driver’s driving record. The insurance company requires the customer’s vehicle identification number for each semi the company wishes to include on the commercial truck insurance policy.
Trucking companies use semis to transport goods across the country. Using these trucks speeds up deliveries and maximizes profits for the organization. Nevertheless, 18-wheelers are often involved in major accidents, and insurance coverage is the only way to protect the trucking company and the drivers from serious losses resulting from those accidents. Find the best coverage level for your fleet with the help of local insurance carriers.