We, at E&Y Insurance Agency, LLC, maintain excellent relations with major truck insurance providers, ensuring that our clients receive the most competitive rates. As you can imagine, there are a lot of terms that are used in regard to trucking insurance. Below you will find a few simple definitions of various types of truck insurance policies.
Collision Coverage
Collision insurance covers accidents in which your truck slams into another vehicle or another object. You may also use collision insurance to cover the damage your truck sustains if you crash into a fence, light pole, tree, or if the truck tips and falls over.
Bobtail Insurance
Do you work as an independent contractor driving your own truck? If so, you should familiarize yourself with Michigan bobtail insurance. Bobtail insurance covers you for accidents that occur when you are between jobs or going to and from jobs. You are bobtailing whenever you are on the road without a load. Employees of trucking companies are covered by fleet insurance, but contractors are frequently not. This is where bobtail insurance comes in.
Comprehensive Coverage
A variety of incidents other than crashes can impair your truck. Comprehensive coverage protects against non-collision incidents such as vandalism, fire, and theft.
Cargo Coverage
Cargo insurance can help cover the cost of an item if it is damaged in transit. The damage may be due to collision, theft, or vandalism.
Medical Payments Coverage
Medical payments coverage covers medical expenses incurred following injuries sustained by you or your passengers, regardless if you are at fault or not. Medical payments coverage can cover the cost of ambulance rides, hospital care, physician visits, x-rays and other diagnostic tests.
Rental Reimbursement with Downtime
Severe damage or repairs to your truck or trailer may take you off the road for a long time. Rental Reimbursement with Downtime insurance covers the cost to rent another truck so you can resume business while the repairs to your truck are being made.
Trailer Interchange Insurance
Some trucking companies have coverage to protect their trailers from vandalism, theft and other damage, even when someone else pulls them. Many have none, that’s why you need trailer interchange insurance. Trailer Interchange Insurance covers the damage costs to a trailer that you do not own or one that you are hauling under a trailer interchange agreement.
Our Bloomfield Hills, Michigan insurance agency is here to help you understand the best types of truck insurance coverage that are available to you. Call us at 248-362-1313 or fill out the form below to talk about your trucking business. We are here to assist you and provide the best quotes for your specific truck needs.
