Commercial Truck
Risk Management
Our team of experts is dedicated to providing you with a comprehensive assessment of your risks and quote comparison from our broad network of insurers while ensuring that you have the essential knowledge to make informed decisions on Commercial Truck insurance.
The Basics of Commercial Truck Insurance
Commercial truck insurance is specifically designed to protect commercial trucks and the businesses that operate them from potential financial losses. Commercial truck insurance can provide financial protection for your business in the event of an accident involving your commercial truck. Commercial truck coverage can help cover the cost of damages to property or injuries to people that may result from a covered accident.
Commercial truck insurance is essential for any organization that owns and operates a fleet of vehicles. Trucking companies are required by law to maintain some level of commercial truck insurance to operate legally. The minimum amount of coverage required varies by state, but all states require at least $750,000 in liability coverage.
Commercial trucking can include many different types of vehicles. For example, some companies may use vans to deliver packages, while others use tractor-trailers for long-distance deliveries or specialized trucks for hauling specific types of cargo.
The main types of commercial trucking businesses that may need commercial truck insurance include the following:
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Carriers and freight haulers
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Delivery services
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Transportation brokers
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Tow companies
Key Coverage Provisions
Commercial truck insurance is essential for businesses that operate trucks as part of their operations. The following are some of the things that are typically covered under a standard commercial truck insurance policy:
Liability coverage
Liability coverage helps pay for any injuries or property damage you may have caused to others in an accident.
Property damage coverage
Property damage coverage helps pay for the repairs or replacement of the other driver's vehicle if you are found at fault in an accident.
Medical payments coverage
Medical payments coverage helps pay for the medical expenses of anyone injured in an accident, regardless of who is at fault.
Collision coverage
Collision coverage helps to pay for the repairs or replacement of your truck if it is damaged in an accident.
Comprehensive coverage
Comprehensive insurance covers damages caused by events beyond your control, such as weather damage, theft, or vandalism.
What’s Typically Not Covered?
Commercial truck insurance can help protect your business from a variety of potential risks. However, it's essential to understand the limitations of a commercial truck insurance policy. Most commercial truck insurance policies exclude certain types of coverage, including:
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Vehicles that are not used for commercial purposes
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Trailers that are not owned or leased by the insured
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Personal belongings or cargo that is not related to the business operation of the insured
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Accidents that occur outside of the United States
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Accidents that occur while the vehicle is being used for illegal activities
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Negligence, such as driving illegally or speeding excessively.
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