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Trucking Business Insurance: Which Coverage Do You Need?

Are you thinking of buying trucking business insurance for your business? As of 2021, there were 4.06 million semi-trucks running in the US.

You can buy many insurance policies to protect yourself and your rig. With so many choices, it’s hard to know where to start. If you don’t take out the right insurance, you could lose money or your freedom!

But if you research in advance and choose insurance that satisfies your needs and potential costs, you won’t lose out.

Read on to learn what coverage you actually need.

Property Insurance

Property insurance covers physical property. This includes protection from theft, vandalism, and malicious damage.

It can cover you if your trailer or equipment is damaged in an accident. It can also protect from any legal liabilities arising from the accident.

If you are looking for semi truck insurance, check here for more details. Know the cost of the insurance coverage for semi trucks and all other associated insurance policies. This is essential for any trucking business owner to ensure they are covered and remain profitable.

General Liability Insurance

General liability insurance provides coverage for any property damage and bodily injuries. It also covers personal injuries caused by the negligence of your business or any of its employees. Thus, it serves as a safeguard should any third-party person or property become involved with a situation your business is liable for. 

Commercial Auto Insurance

Commercial auto insurance provides financial protection against losses resulting from lawsuits. This protects from accidents involving company-owned vehicles. It covers the property damage and personal injuries you are legally responsible for.

Besides, this type of commercial truck insurance can also protect you and your employees from medical expenses in the event of an injury.

Freight and Cargo Insurance

Freight and Cargo Insurance is an essential form of trucking company insurance. This is for those who own, operate, and manage freight and cargo companies. This type of insurance policy protects against losses incurred when shipment and cargo are damaged, lost, or stolen in transport.

Freight and Cargo Insurance cover liability arising from the transportation trucking company of goods and materials over land, sea, or air.

Workers’ Compensation Insurance

Workers’ Compensation Insurance provides financial compensation to injured employees. This type of truck driving insurance is required in most states. It can cover any expenses related to medical care, recovery, lost wages, and even death benefits for the family of the deceased.

It can also help trucking businesses with financial losses caused by any delays. This is because of the injury or illness of their employees.

Non-trucking Liability or Bobtail Insurance

Non-trucking Liability or Bobtail Insurance is coverage for truckers who drive their vehicles outside their commercial duties. This coverage also applies when a truck is not loaded or the driver cannot secure a trailer.

It offers financial protection for a variety of losses, including the following:

  • negligence
  • property damage
  • uninsured motorist
  • medical bills

Choose Your Trucking Business Insurance Today

Trucking business insurance varies by state and type of equipment and hauling. Every business should get a tailored policy to meet their needs. You can choose from property, general liability, or commercial auto insurance.

Also, pick from freight and cargo, worker’s compensation, or non-trucking liability insurance. Schedule an appointment with an insurance professional to discuss your specific needs. Get the coverage you need to protect your business today.

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Usama BIN Safdar

Meet Usama Bin Safdar, a wordsmith hailing from Faisalabad, Pakistan. With over 5 years of experience under his belt, he's a master at weaving words to create content that's not only informative but also engaging. He's a deep-diver when it comes to SEO, and as the Founder of SoftwareBench, he helps businesses and individuals navigate the digital landscape with ease. Follow Usama for a journey into the world of SEO and digital marketing, where every word is crafted with precision and passion.