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  • Madeline Eby

What does trucking insurance cover?

Updated: Feb 13

Trucking insurance typically covers financial losses due to accidents or other incidents involving a truck, trailer, and/or cargo. Coverage as you'll learn can include liability for injury or property damage caused by the truck, insurance for physical damage to the truck and trailer, cargo coverage for loss or damage to transported goods, and insurance for uninsured or underinsured motorists. Some policies may also provide additional coverage for business interruption, pollution liability, and other risks specific to the trucking industry.

Most trucking insurance policies are designed to protect the trucking company in the event of an accident, injury, or theft. However, there are a variety of different types of trucking insurance, and each policy offers different coverage. The most common types of trucking insurance are liability, collision, and cargo insurance.

Understanding Trucking Insurance By Definition

Auto Liability is designed for incidents that you are found responsible for while using a company vehicle

General Liability provides coverage for the harm you may cause to others arising out of premises, operations, products, and completed operations

Collision insurance covers the truck in the event of an accident, regardless of who is at fault.

Cargo insurance covers the trucking company if cargo is lost, damaged, or stolen.

Uninsured (UM)/Underinsured Motorist (UIM) is coverage for bodily injury and in some states, property damage incurred by an insured when an accident is caused by a motorist who is not insured/not sufficiently insured.

Trailer Interchange is physical damage insurance for trailers owned by other motor carriers and typically pulled under a trailer interchange agreement and protects you if the trailer is damaged by collision, fire, theft, explosion, or vandalism

There are also a variety of other types of trucking insurance, such as bobtail insurance, non-trucking liability insurance, and motor truck cargo insurance. When selecting a trucking insurance

Importance of Trucking Insurance

As stated in a previous blog, there is always more to know on the importance of trucking insurance. Trucking insurance is important for several reasons:

  1. Legal requirements: In most states, trucking companies are required by law to have liability insurance to cover damages and injury that their vehicles may cause to other people and property on the road.

  2. Financial protection: Accidents and incidents involving trucks can result in costly damages and liability claims. Insurance provides financial protection against these losses and helps trucking companies avoid financial ruin in the event of an accident.

  3. Reputation protection: Having adequate insurance coverage shows that a trucking company takes its responsibilities seriously and is committed to operating safely and professionally.

  4. Compliance: Some shippers and customers may require trucking companies to have specific levels of insurance coverage before they will do business with them.

In summary, trucking insurance is important to meet legal requirements, provide financial protection, maintain a positive reputation, and remain in compliance with customer and industry requirements.

Steps To Get Trucking Insurance

To get trucking insurance, you can follow these steps:

  1. Assess your needs: Determine the types and levels of coverage that you require based on your trucking operations, including the type of cargo you transport, the distances you cover, and any specific regulatory requirements.

  2. Shop around: Contact several insurance providers and compare quotes to find the best coverage at the most affordable price.

  3. Choose a reputable insurance provider: Select an insurance provider that has a good reputation in the trucking industry and a track record of handling claims efficiently and fairly.

  4. Complete an application: Fill out an insurance application and provide the necessary information about your trucking operations, vehicles, and drivers.

  5. Purchase the policy: Once you have chosen an insurance provider and completed the application, you can purchase the insurance policy and start coverage.

  6. Review and update coverage: Regularly review your coverage to ensure that it continues to meet your needs, and update it as necessary to reflect changes in your trucking operations.

It's also a good idea to work with an insurance agent who specializes in trucking insurance, as they can help you understand your coverage options and make recommendations based on your specific needs. They can also help you navigate the claims process in the event of an accident or incident.

Who needs trucking insurance?

Trucking insurance is required by law in most states, so it's important to be aware of the coverage you need. CarrierHQ can help you get the right coverage, get a quote today. Make sure to shop around and compare rates before you purchase a policy.

Trucking insurance is a type of insurance that covers the costs associated with trucking. This includes the cost of the truck, the driver, and the cargo. Trucking insurance can be purchased as a stand-alone policy or as part of a package policy. For more information on trucking insurance, give our client success team a call at (866) 621-4145. For more information, feel free to read up on our website.

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