Like your rig, truck insurance has a lot of moving parts that you need to understand to ensure that you are fully protected against downtime and loss. We have extensive experience with the transportation industry, and we know that trucking insurance can be confusing with coverage for the wide array of scenarios that happen when you drive for a company, are an independent trucker or run your own company. Here are definitions of some common truck insurance terms to help give you a better understanding.
Comprehensive Coverage
Many types of incidents beyond collisions can damage your truck or put it out of commission. Comprehensive coverage helps to pay for the repairs needed for a non-collision accident. For example, vandalism, fire and theft are covered by comprehensive insurance coverage.
Collision Coverage
Crashing into another vehicle or another object such as a fence, light standard, or tree is covered by collision coverage. Collision insurance also pays for damages that occur if your truck tips or rolls over.
Cargo Coverage
When damage occurs to items you are hauling in your truck, cargo insurance can help cover the cost. The damage could be the result of a collision, theft or vandalism.
Bobtail Insurance
Especially if you are an independent truck driver, there will be times when you are between loads, driving your rig without a trailer. Bobtail insurance covers you against any damage that occurs to the truck when you do not have a trailer in tow.
Medical Payments Coverage
This type of insurance pays for medical expenses incurred as a result of injuries to you or your passengers, regardless of whether you were at fault or not. Medical payments insurance can cover the cost of ambulance trips, hospital stays, doctor’s visits, x-rays and other diagnostic testing.
Trailer Interchange Insurance
Some trucking companies have insurance covering their trailers against vandalism, theft and other damage, even when someone else is pulling them. Many do not, which is why you need trailer interchange insurance. It covers the costs of damage to a trailer that you do not own or that you are hauling under a trailer interchange agreement.
Rental Reimbursement with Downtime
Extensive damage or repairs to your truck or trailer can take you off the road for an extended time. Rental Reimbursement with Downtime insurance covers the cost of renting a truck allowing you to carry on your business while the repairs are being made.
Understanding the risks and knowing what types of truck insurance coverage are available will help ensure that you are protected in any eventuality. Give us a call to talk about your trucking business. We are here to help and can you the best quotes on the right combination of trucking insurance coverage to meet your specific needs.
