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Truck Insurance

Insurance for trucks is an essential fixed cost for all individual truckers and trucking companies. Trucks are expensive pieces of equipment that need to be adequately protected through insurance coverage. Liabilities that can arise in connection with trucking also need to be adequately insured. There are many companies that specialize in truck insurance, as well as more general insurance companies that offer truck policies. Federal law mandates some types of coverage and lenders may require coverage when a truck is financed.

The cost for truck insurance varies according to several factors. Among the factors that can have an effect are: location, driving record, driver’s age, loss history, types of cargo, and years in business. Insurance typically covers physical damage to the trucking equipment as well as auto and general liability insurance. Other things covered by truck insurance may include: damage to a non-owned trailer, liability for accidents occurring when the driver is not hauling, and damage to cargo. Owner-operators can also obtain coverage for things like downtime, rental reimbursement, and miscellaneous equipment related to the trucking operation.

When shopping for truck insurance the consumer needs to look for reputable companies that offer the types of coverage required, at a reasonable price. Comparisons can be made using online resources, and by contacting companies directly. It can be useful to consult with other truckers about insurance needs and insurance companies.