Insurance Coverage for Our Family

Insuring Your Commercial Truck

5 April 2022

Christian Byrd

Insuring a commercial truck can be an important step for anyone that works as an owner-operator or that is responsible for managing a company's fleet. Being informed about the types of coverage that can benefit commercial vehicles can help these individuals to better protect themselves against the liabilities that come with operating large commercial trucks.

Assess The Value Of The Cargo You Will Be Hauling

There can be a risk for the items that are being transported by the driver to be damaged or even destroyed during the course of being shipped. In addition to occurring as a result of accidents, this could also occur as a result of problems with the trailer that the truck is pulling. For example, a moisture leak could cause much of the product that is contained in the trailer to be ruined. Additionally, those that are using refrigerated units may find that products could be destroyed as a result of the cooling system failing. Having an insurance policy that offers protection against this type of product or inventory loss can be an important type of coverage.

Compensation For Rental Costs Or Loss Of Use

Following an accident, you may not be able to use the commercial truck for some time, as repairs to these vehicles can take a long time to complete. This could lead to the driver or owner suffering major losses due to being unable to use the vehicle. While there are rental services that can provide you with a commercial truck to use until the repairs are finished, this can be extremely costly. Commercial truck insurance can offer individuals a rental until the repairs are completed or offer compensation for lost wages or revenue. This type of coverage can be more costly, but it can be extremely important protection when you are faced with these potential disruptions.

Personal Use Coverage

When choosing a commercial insurance policy, it is important to be mindful of the fact that there will be times when you are using the vehicle in a personal capacity. A common example of this could be driving the commercial truck to a new home after you have moved or taking the vehicle to be cleaned. Any commercial policy that you choose should outline the instances where it will provide coverage for personal or other non-work-related activities. Otherwise, you may have gaps in your coverage that you may not realize until an accident occurs and you find yourself unprotected. 

For more information about commercial truck insurance, contact a local provider.

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