Do I Need Truckers Insurance?
Truckers insurance is a necessity when you own or drive a truck. On a good day, you should not need to use your coverage. It may seem like an extra expense in an industry that already has so many costs associated with it. However, don’t overlook this essential resource. Truckers insurance will suddenly become very, very important if you or one of your employees are ever in an accident.
Situations can change. When this happens, you may wonder if you really need to buy truckers insurance or continue coverage that you already have. It’s important to understand the consequences that come with not having the right level of coverage.
Is Truckers Insurance Right for Drivers with a Good Record?
If you have a clean driving record and have never been in an accident, that’s good news! However, that doesn’t mean you should skip truckers insurance. You may be cautious, but you never know what you may encounter while on the road.
Being in an accident without truckers insurance can have severe consequences. If you are at fault, then you will likely have to provide compensation for injuries and damages. That means paying out of pocket if you don’t have a valid policy.
Federal law requires truck drivers to have a minimum level of coverage. All trucking companies must have at least $300,000 in public liability insurance for freight moved in trucks that weigh up to 10,000 pounds. Coverage of $750,000 to $5,000,000 is required for tractor-trailers. Cargo insurance is also needed when transporting household goods.
Make sure you stay legal and protected in case the unexpected happens.
Do I Need Truckers Insurance if My Truck Is Parked?
If you become injured or ill, you may not be able to work. That means your truck will remain parked for an extended time. It seems wasteful to pay for truckers insurance if you aren’t driving, especially when your finances may be limited due to a loss of income.
You may be able to cancel some or all your coverage, as long as you won’t be driving. However, keep in mind that if your vehicle has a lienholder, this could cause problems for you. The lienholder may require you to keep your coverage to protect their financial interest in your truck.
You will still be responsible for any damage that occurs while the truck is parked. Weather damage from hail or wind could lead to costly repairs. Theft, vandalism, and even fire can also pose an expensive threat if you don’t have truckers insurance to pay for it.
If you have questions or are struggling to keep up with payments, contact Insure Trucking. We can discuss your options to find a solution that works for your business.
Is Truckers Insurance Needed if Someone Else Drives?
There is a misconception about employee drivers. Some people believe that any employee is covered when driving a truck for the business. The truth is that the policy will determine who is covered and who is not.
Some insurers only cover drivers who are named on the policy. Others use something called permissive use. That means that the driver is covered as long as the owner has given permission for them to use the vehicle.
Even if the owner decides to leave the driving up to their employees, truckers insurance is still required. Make sure you know how your policy works to ensure that you are covered in case of an accident.
What If My Trucks Are Used Seasonally?
Some businesses only operate for part of the year. Their trucks are put into storage during the off season. This is another situation where it may seem wasteful to pay for coverage you know you aren’t using.
Insure Trucking can discuss your coverage needs and determine if comprehensive-only truckers insurance is a better option while your business is closed. Comprehensive means that damage caused by something other than a collision is covered. This could be broken glass, fire, vandalism, theft, or wind.
Remember that comprehensive-only truckers insurance will not protect you if you are driving the vehicle. You must ensure that adequate coverage is added before your trucks are back on the road during the working season.
Which Truckers Insurance is Right for Me?
The right truckers insurance for you is based on your circumstances and business needs.
Your truck is an investment in your future. It represents your livelihood. That’s why you should always carry insurance to protect it. The level of coverage needed may vary, but it’s usually best to avoid a lapse.
Insure Trucking covers everything from big rigs and dump trucks to long and local haul trucks and more. Instant certificates and online policy services are available to current customers. New customers are welcome to contact our team for a quote. You can get started by dialing 866-307-5480 or by visiting our website and clicking the “Get a Quote Now” button.
You can protect your vehicle and save money with the right truckers insurance. Contact Insure Trucking now to find out how to get fast quotes and coverage that meets your driving needs.