One of the most important facets of commercial truck insurance is the protection of the cargo in your rig. The last thing you need is coverage that fixes your truck but doesn’t account for stolen property and other mishaps that can happen on the road.
If you’re operating a semi truck or own a commercial transportation company, then you know just how important this coverage is.
If you cause an accident to other people, their vehicle or property, your commercial auto liability coverage will protect you. This type of trucking insurance coverage includes Bodily Injury Liability and Property Coverage.
If your vehicle is damaged in an accident, your physical damage coverage will pay to repair the vehicle. This coverage works whether your accident was caused by a collision with another vehicle or a hazard like a broken tree branch.
If your cargo is damaged in a fire or an accident or is stolen, your cargo insurance will help pay for the replacement of your property. Your entire livelihood is at risk when you drive without cargo insurance.
Here are some important details we can explain when you call Stay Kalm Insurance for your commercial trucking policy quote:
A commercial trucking insurance policy is a little different than the policy you might have for your personal vehicle. Understanding what your coverage will and will not cover can help you figure out what amount of coverage will offer you the best protection for your truck, its contents and yourself when you drive.
The Federal Motor Carrier Safety Administration (FMCSA) sets the official liability requirements for primary liability insurance for trucks, and these are the minimums you must have if you drive with a GVWR over 10,000 pounds:
Trucks hauling most types of commodities must have at least $750,000 of coverage. Some load brokers may require $1,000,000.
An auto hauler must have at least $1,000,000 of coverage, and many expect this level of coverage to soon apply to other commodities.
If you haul hazardous materials, you must have at least $5,000,000 in coverage during your drive.
It’s important to note that primary liability insurance only covers damage that you may do to other people while operating a truck with certain commodities.
Are you ready for a commercial truck insurance quote from Stay Kalm? Call us now at 1-214-377-0812, and one of our agents will assist you with any questions you have about commercial truck insurance and the options we provide for this essential coverage.
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