As a commercial truck driver, you are responsible for the safety of your load and the other motorists on the road. You need to have the proper insurance in place to protect yourself, your truck, and your business in case of an accident. But what kind of insurance do you need? Here’s a look at the different types of truck insurance that commercial truck drivers need to have.
Liability Insurance
This type of insurance covers damage that you may cause to other people or property while operating your truck. It is required in all states, and the minimum amount of coverage varies by state. This amount should be considered carefully, as it is what protects a driver’s business or personal assets if they are sued for damages above and beyond the policy limits.
Physical Damage Insurance
This type of insurance covers damage to your truck in the event of an accident. It is not required in all states, but it is a good idea to have this coverage if your truck is financed or leased.
Physical damage insurance
This type of insurance covers damage to the truck in the event of an accident. It is not required in all states, but it may be mandatory if the truck is financed or leased, and is certainly something to consider since a trucker may find themself out of a job if the truck is damaged. Truck insurance is a key component of keeping a trucking operation charging ahead without long delays.
Cargo Insurance
This type of insurance covers the load that you are carrying in your truck. It is not required in all states, but it is a good idea to have it if you are carrying expensive or high-risk cargo. If a trucker has an at-fault accident, this coverage could help avoid lawsuits over losses of the load.
Non-trucking Insurance
This type of insurance covers the use of your truck for non-business purposes, such as personal travel or hauling a trailer for recreation. It is not required in all states, but it is a good idea to have it if you use your truck for anything other than business purposes.
Workers’ Compensation Insurance
This type of insurance covers medical expenses and lost wages for employees who are injured while working. It is required in all states, but the requirements vary by state. This coverage may not be necessary if you are an owner-operator, so check with your insurance agent who can advise you on your specific situation.
As you can see, there are a variety of different types of insurance that commercial truck drivers need to have to be protected. Make sure you are familiar with the requirements in your state and that you have the proper coverage in place to protect yourself and your livelihood before hitting the road.
