Here are some key points about trucking insurance.
Trucking insurance in the USA is a specialized type of commercial insurance tailored to the unique risks and needs of trucking companies and owner-operators. Here are some key points about trucking insurance:
- Like car insurance, primary liability insurance is mandatory for truckers operating in the US. It covers damages and injuries to other parties in case of an accident where the truck driver is at fault.
Cargo Insurance:
- This type of coverage protects the goods being transported in the truck against damage, theft, or loss.
Physical Damage Coverage:
- This covers damages to the truck itself, whether it’s due to a collision, vandalism, or other incidents.
Bobtail Insurance:
- This provides coverage when a truck is being driven without a trailer attached, such as when the truck is returning from a delivery or between loads.
Non-Trucking Liability Insurance:
- Also known as bobtail insurance, this provides coverage for truckers when they are using their trucks for non-business purposes, such as personal use.
General Liability Insurance:
- This coverage protects against claims of bodily injury or property damage that occur on the trucking company’s premises or as a result of its operations.
Workers’ Compensation Insurance:
- If the trucking company has employees, it’s typically required to carry workers’ compensation insurance to cover medical expenses and lost wages in case of work-related injuries or illnesses.
Federal and State Requirements:
- Trucking companies must comply with both federal and state insurance requirements, which can vary depending on factors such as the type of cargo being transported and the size of the company.