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What is commercial truck insurance?
Driving commercially registered trucks presents significant risks. Operators can have trucks damaged, cargo lost, or drivers get into accidents. Purchasing commercial truck insurance can help Texas operators protect themselves when trucks are on the road (and not).
Commercial truck insurance policies provide specialized coverage for businesses’ trucks. These policies typically have higher limits and more coverages than standard commercial auto policies.
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What Texas businesses should consider purchasing commercial trucking insurance?
Most Texas businesses that operate commercially registered trucks should consider commercial trucking insurance. This includes both trucking companies and others.
For example, contractors, bakeries, last-mile delivery companies, moving companies, tow trucks, and many other businesses have trucks that should be insured. Of course, long-distance freight companies should have robust policies.
Businesses that are unsure whether they should have commercial trucking policies ought to consult an insurance agent who specializes in this type of policy. A knowledgeable agent can help assess whether this is the right type of policy, and recommend a specific policy.
What protections are included in commercial trucking insurance policies?
Commercial trucking policies normally provide a variety of protections, including state-mandated coverages and others. Most businesses complement mandatory coverages with others. Some important coverages to consider are:
- Physical Damage Coverage: Might cover damage that insured truck(s) sustain
- Interchange Coverage: Might cover damage that non-owned trailer(s) sustain
- Trailer Cargo Coverage: Might cover damage that cargo loads sustain
- Liability Coverage: Might cover accidents that employees cause
- Bobtail Coverage: Might cover tractor-trailers when they have no trailer hooked up
- Downtime Coverage: Might cover trucks when they’re not being driven
- Non-Trucking Coverage: Might cover trucks when they’re being driven for personal use
- Uninsured/Underinsured Motorist Coverage: Might cover accidents with uninsured drivers
Interchange coverage is sometimes referred to as unidentified cargo coverage. An experience insurance agent can help truck operators review the details of each coverage.
What types of cargo can be insured with commercial trucking insurance policies?
Commercial trucking policies are available for most types of legal cargo. Policies can cover everything from gravel and scrap metal, to televisions and solar panels.
Finding coverage for certain cargo, such as live animals, high-value artwork, hazardous materials, and radioactive isotopes might be difficult. A specialized insurance agent who knows commercial trucking policies well, however, can usually find coverage for items such as these.
Because coverage for specialty cargos may be available from only select insurance companies, it’s important to work with an experienced independent insurance agent. Independent agents are able to check policies from multiple insurance companies, which increases the likelihood that they can find a suitable policy.
How much does insuring commercially registered trucks cost?
The premiums charged for commercial trucking insurance vary, as there are many different factors that insurance companies must take into account. The number of trucks, size of trucks, types of trucks, cargo classes, miles driven annually, and storage location are just some of the details that impact cost. Drivers’ years of experience, license classes and endorsements, and driving records also have substantial impacts on rates.
How can businesses in Texas get commercial truck insurance quotes?
The best way to find a good commercial trucking policy is to compare several customized quotes. Businesses can check both rates and coverages, and then choose the most affordable option that provides the protections they need.
For help getting customized commercial truck insurance quotes, contact the independent insurance agents at Ramey King Insurance. Our Texas agents are well-versed in the many different types of commercial truck policies, and we’ll help make sure your truck(s) are protected well. We can review multiple customized quotes with you, to select the best of the available options.
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