Commercial Truck Insurance Simplified

At first glance, commercial truck insurance may seem overly complicated. It is obviously a highly specialized field and great effort is taken to regulate it. There is no need to be intimidated, though—for the most part, many policies parallel basic auto insurance and insurance for businesses.

Most policies for independents or motor carriers alike will consist of insurance for trucks, trailers, cargo and basic liabilities of running a motor carrier or fleet.

In order to simplify things a bit, here are some brief descriptions of available commercial truck insurance—knowing some basic policies can offer you some fodder for discussion with your agent. The more familiar you are, the more likely you’ll get proper coverage without overpaying.

General Liability

This type of commercial truck insurance policy is purchased by trucking companies to protect company employees and vehicles by covering costs associated with damages and injuries caused by other drivers. It can also help to protect against lawsuits brought on by accident victims seeking compensation from the company.

Primary Liability

These truck insurance policies cover damage and medical costs to other drivers involved in accidents with truck drivers. Damage to the truck is not covered without additional coverage, such as physical damage insurance.

Physical Damage

These policies cover property damage for truck drivers, regardless of fault, in accidents or if their trucks are damaged in fires, as a result of vandalism, or if the truck is stolen. These policies are highly recommended for independents.

Bobtail Liability Insurance

This covers independent drivers when not being covered by a trucking company’s primary liability insurance for which they are contracted

Truck Cargo Insurance

This coverage may be needed if general freight insurance does not cover the cargo. It will cover the cost of damage to cargo while on the job.

Trailer Interchange Insurance

This coverage is for instances in which trailers are being exchanged between two different companies. Trailer interchange coverage will cover the cost of any damages to the trailer or its cargo while being hauled by an outside party.