Coast2Coast Insurance Agency Inc.
Always Delivering Professional Service
Coverage
There are several types of trucking related insurance coverage's that are available:
Physical Damage insurance is coverage for your truck and trailer. Your premium is based on the value of your equipment. Usually a percentage of the value. This coverage is not required by law but if you finance your vehicle the lien holder will require it. It is important to insure your vehicle for the real value. Not over or under value the vehicle as the insurance company will only pay market value at the time of loss.
Primary Auto Liability insurance is required by federal regulations. Every carrier must carry liability insurance on every rig even on leased units. Liability insurance protects you when a third party is injured in an accident. Owner-operations should ask when leasing onto a company who will pay for their insurance- the company or from driver weekly settlements.
General Liability insurance protects the business for any property damage or bodily injury that might occur which does not involve a truck. Typical examples of this would include the slip and fall exposure at your place of business, advertising related exposures, and/or contractual exposures you may get involved in.
Non- Trucking Liability insurance pays for an accident when the driver/truck is not under dispatch. The coverage is sometimes referred to as deadhead coverage or bobtail liability.
Non- Owned Trailer Liability coverage protects the trailer you are pulling for someone else.
Non- Owned Trailer Physical Damage coverage insures the trailer you are pulling for someone else in the event of loss. $20,000 is somewhat standard for trailers.
Trailer- Interchange Liability coverage protects a trailer you are pulling when there is an interchange agreement in force. For example with a steamship line.
Cargo Insurance covers damage/loss to freight in transit. This coverage can have many exclusions such as unattended vehicle, maximum theft limitations on target commodities such as garments, liquor, electronics and a whole host of others. It is very important to read this policy closely in the event you think you may be covered for something you are not.
Physical Damage insurance is coverage for your truck and trailer. Your premium is based on the value of your equipment. Usually a percentage of the value. This coverage is not required by law but if you finance your vehicle the lien holder will require it. It is important to insure your vehicle for the real value. Not over or under value the vehicle as the insurance company will only pay market value at the time of loss.
Primary Auto Liability insurance is required by federal regulations. Every carrier must carry liability insurance on every rig even on leased units. Liability insurance protects you when a third party is injured in an accident. Owner-operations should ask when leasing onto a company who will pay for their insurance- the company or from driver weekly settlements.
General Liability insurance protects the business for any property damage or bodily injury that might occur which does not involve a truck. Typical examples of this would include the slip and fall exposure at your place of business, advertising related exposures, and/or contractual exposures you may get involved in.
Non- Trucking Liability insurance pays for an accident when the driver/truck is not under dispatch. The coverage is sometimes referred to as deadhead coverage or bobtail liability.
Non- Owned Trailer Liability coverage protects the trailer you are pulling for someone else.
Non- Owned Trailer Physical Damage coverage insures the trailer you are pulling for someone else in the event of loss. $20,000 is somewhat standard for trailers.
Trailer- Interchange Liability coverage protects a trailer you are pulling when there is an interchange agreement in force. For example with a steamship line.
Cargo Insurance covers damage/loss to freight in transit. This coverage can have many exclusions such as unattended vehicle, maximum theft limitations on target commodities such as garments, liquor, electronics and a whole host of others. It is very important to read this policy closely in the event you think you may be covered for something you are not.
