If you are driving a commercial vehicle, especially a semi-truck, then you need commercial truck insurance to protect yourself and your rig from personal injury attorneys and lawsuit. This also applies to business owners who own a vehicle that is rented, leased, or used by more than one person.
Generally, most policies will cover your medical bills and expenses, should you get in a wreck. This is not to be underestimated with the current price of healthcare and the grave nature of most automobile accidents when traveling even at a minimal speed.
Your policy should cover underinsured and uninsured motorists. If you get in a wreck and the party at fault has no insurance or does not have enough insurance to cover the damages done to you or your truck, then your insurance company should be there to cover the rest.
It should also cover your motor cargo. This aspect is extremely important if you are transporting something that is highly valuable. This could be just about anything, but you do not want to be on the hook for the price of your cargo due to an auto accident.
Make sure your commercial truck insurance covers you on bodily injury, property damage, and liability. If you are not covered by an insurance company, you could be taken to court and forced to pay the damages or medical bills out of your own pocket.
Do not forget to ensure that you have automotive damage insurance by way of collision, theft, fire, or other type of damage to the vehicle. Besides medical bills, auto repairs are probably the second most expensive thing that insurance can cover for you. Do not get stuck paying for repairs to your rig out of your own pocket and make sure your policy has you covered.
There are plenty of standard options as well as customizable policies. Let's look at some of the standard packages. Business interruption coverage will protect you or your company from lost wages after a covered loss.
Umbrella coverage provides the customer with a much higher liability limit than your average primary commercial truck insurance policies.
Tool and equipment coverage will protect your tools and equipment that are stored in company vehicles. This goes hand in hand with cargo insurance, which makes sure that your manifest is insured in transport or in storage, so you can rest assured that your product is safe.
Driving without insurance is illegal in the United States, and driving a commercial truck without commercial truck insurance is just stupid. Keep yourself protected and get in touch with your local insurance agent.