What Insurance Do You Need for a Commercial Trucking Operation
One of the first and most important things you need to do as a commercial truck driver is to buy insurance that covers both your truck and your operation. As an owner-operator, you are in charge of making the important decisions, so you need to know as much as possible about the ins and outs of insurance coverage.
What Are the Specifics of Your Trucking Operation?
The first step is knowing exactly what type of coverage you need. For example, do you own a long-haul operation or a local radius run? Do you handle dangerous cargo or live animals? There are policies specific to the type of cargo you carry. What types of hazards are most common along your route or related to your cargo? Are there others involved in your operation? Prepare to share as many details as possible with your agent so that you get the most appropriate commercial truck insurance in Glendale AZ.
Which Types of Coverage Are Best for Your Risks?
Your agent can answer your questions and offer professional advice, but you need to understand your options to make the final decisions. Did you know that are many types of coverage? Consider a few of the available options:
- Truckers general liability coverage
- Physical damage coverage
- Motor truck cargo coverage
- Medical payments
- Uninsured and underinsured motorists
There are policies for truck drivers who carry non-owned trailers and policies to replace damaged equipment. You need to carefully weigh your options as you decide where your greatest risks lie and how much insurance coverage you can afford.
How Much Coverage Can You Afford?
Paying for trucking insurance does require a significant investment. Compared to the losses you could potentially incur; however, the amount you pay for insurance may be insignificant. Discuss the pros and cons of each type of coverage with your agent or provider.
Although you have many responsibilities to address, buying insurance for your trucking operation is one of the first to complete. Reach out to your agent and to experienced owner-operators for more tips and suggestions.
