Trucking Insurance is Critical for Independent Drivers and Fleets

Both fleet owners and independent owner-operators know that even the safest truck drivers can have unexpected accidents occur while travelling on the road. This only serves to reinforce the importance of obtaining the proper trucking insurance coverage to protect against serious financial repercussions. However, trucking insurance goes far beyond the typical liability coverage that is required of most motorists. Trucking insurance covers the replacement or repair cost of the cargo, the truck and any accidents or damage caused by the driver as well.

Coverage Options  

There are almost as many trucking insurance options as there are types of trucks. However, here are the most common options that apply to both fleets and owner-operators. Some of the coverage options are required by state law, while others are optional.

• Liability Insurance: Pays for damage a driver causes to another person’s property, or for medical costs associated with an injury.
  
  
• Physical Damage: Pays for physical damage that occurs to the cargo at any time during transport.
  
  
• Workers’ Compensation: This pays if an employee is injured on the job and is only necessary for fleet owners who have employees.
  
  
• Accident and Disability Coverage: This coverage is useful for owner-operators who are not covered by an employer’s workers compensation policy. 
  
  
• Physical Damage Coverage: Covers the cost to replace electronic equipment, tarps, chains and other items on the truck.
  
  
• Cargo Coverage: Insures the contents of the trailer and any components that keep the cargo secure or prevents spoilage or damage.

Coverage for All Driver Levels

Obtaining trucking insurance is just as important for independent drivers as well as for larger fleets. Each policy can be customized to fit the unique needs of the driver. The key for consumers is to find an insurance company that specializes in the type of truck that they drive. Some companies specialize in insuring large fleets or temperature-controlled trucks, while others specialize in insuring owner-operator drivers.

Situations Covered by Trucking Insurance

Many on-the-road accidents don’t involve other vehicles, but trucking insurance can cover these instances as well. For example, if a driver backs up to a loading dock and damages the lift, the insurance carrier can pay for it. Another example is if a truck hauls fragile items which are damaged during transit. This damage would be covered. Trucking insurance may also cover the cost to replace cargo that is stolen during a stop.