Truck Insurance and The Independent Owner/Operator

Being an independent truck driver can have its benefits. You get to drive your own rig, and not just some truck in the company’s fleet. You also have the freedom to go after the types of hauls that you want and grow your own personal business. Of course, there are some expenses that go hand in hand with these benefits, one of which is carrying your own truck insurance policies.

All trucking companies are required by law to insure their drivers against liability for costs associated with property damage and bodily injury due to accidents.

The catch is: you are responsible for protecting yourself and keeping your truck roadworthy when that coverage isn’t extended from contract motor carriers. Essentially, you’ll need on and off commercial truck insurance.

You surely know that truck insurance is a must, but do you know what types of coverage are right for you? This simple guide should help to clear some that up.

Bobtail Insurance

Bobtail insurance is a type of commercial truck insurance that keeps you insured when you are not under the umbrella of a trucking company’s primary liability coverage. It is also referred to as non-trucking liability and is an effective way to cut down on the overall cost of insurance for independents.

Cargo Insurance

This is another type of policy that covers the cost of damage to cargo while in possession of the driver during transit. It should probably be coupled with bobtail insurance to insure more comprehensive coverage. In some cases, cargo insurance will also cover trailers, but not always.

Trailer Insurance

This is a must for anyone who regularly makes use of trailer interchange agreements, whereby drivers exchange trailers and finish each other’s hauls to cut down on fuel and other costs. Trailer insurance makes certain that your trailer is protected even when being hauled by someone else.