Who needs it and what is it?
At Reliable Partners Group (RPG) Insurance Agency, we have been getting many people asking us about trucking insurance. It is called Commercial Truck Insurance and who needs it, you may ask?
- Truck Drivers
- Independent Owner Operators
- Commercial transportation business
- Basically, any business with trucks, drivers, or transportation related activities
It is required by law to have basic commercial truck insurance from a single truck to a multi-fleet company. It offers a personalized variety of options to protect you. Different from commercial auto insurance, it is designed trucks. The Federal Motor Carrier Safety Administration (FMCSA) requires a truck used in any commercial operation to have a commercial truck insurance policy.
Commercial Truck Insurance is a grouping of specific auto insurance policies designed for trucking business needs. In an event that your truck is in an accident, basic commercial truck insurance policies cover you with collision and comprehensive damages. There are specialized commercial truck options to cover your trucks for additional damages and specific liability issues. As a truck driver and/or fleet owner getting extra coverage to cover you with hauling valuable and/or time sensitive materials.
The varies types of truck insurance policies you can get:
- Bobtail Insurance
It is insurance that is for protection of a tractor when it is operated without a trailer, whether it is dispatched or not.
- Limited Depreciation Coverage
The policy covers the gap between the fair market value that the insurance will pay out and what you owe on your truck.
- Mechanical Breakdown Insurance
It is coverage to assist with out-of-pocket expenses for repairs.
- Motor Truck General Liability Insurance
The coverage protects “for-hire” truck drivers in claims of personal injury, bodily injury, medical payments, property damage, etc.
- Motor Truck Cargo Insurance
This is coverage of non-hazardous freight or commodity and liability for cargo.
- Non-Trucking Liability Insurance
The coverage is for days off when you are using your truck for non-business purposes.
- On-Hook Coverage
It is coverage of vehicles that are not owned by your business during towing or hauling.
- Optional Downtime Coverage
This coverage will take effect when your commercial truck undergoes downtime.
- Passenger Accident Insurance
The insurance is for the driver if a accident occurs while an uninsured passenger is in the vehicle.
- Physical Damage Coverage
The coverage protects your commercial vehicle when physical damage occurs.
- Trailer Interchange Agreement Insurance
The insurance is for damage to non-owned trailers when they receive physical damage.
We can work with you to choose the best coverage and insurance groupings that are best for your commercial trucking needs.
We will need the following requirements to get you commercial truck insurance.
- A CDL if you are hauling more than 26,000 pounds.
- MC and DOT Authority
- Providing information on your vehicle (Make, Model, Year and Vin Number)
Contact Satch or Greg for your Commercial Trucking Insurance needs at 937-529-8300 or the Reliable Partners Group Insurance Agency’s website (www.rpgagents.com)