Owning a commercial truck and trailer is an excellent way to make a living, but there are some things you will have to deal with, like insurance, that can be critical. The commercial truck insurance you purchase can be complicated, so it is crucial to work with an insurance agency that understands the needs of commercial operators.
Insuring Your Truck
When you own a commercial semi-truck, the insurance coverage for the vehicle is vital. When you are on the road, you need to have enough commercial truck insurance to cover your truck and liability coverage that covers damages due to your driving or a malfunction of the truck itself.
If you are involved in an accident with your semi-truck, the damage can be significant because of the size and weight of the vehicle, and if the truck is loaded with freight, the momentum created can be worse. If no other vehicles are involved, you need to have insurance that covers your truck to get it repaired and back on the road, but if there are others involved in the collision, it is vital to have coverage in case you are responsible for the crash.
Your insurance agent can help you navigate the insurance process and select an affordable policy, and offers you the coverage you need, no matter where you are driving. If your truck travels through many states, your insurance needs to be sufficient to meet the requirements of all those jurisdictions. While that sounds complicated, a good commercial insurance agent can sort out the requirements and come up with an insurance plan that keeps you legal and safe anytime you are on the road.
If you own the trailer you are pulling, your commercial truck insurance may extend to the trailer as well as the power unit, but it is vital that you ask. In some situations, the trailer may need additional coverage, especially if you initially insured the power unit with coverage that only applied to it because you were pulling company trailers that they covered.
If you are leasing your trailer, the leasing company may have specific requirements for insurance coverage as well, so check with them before you purchase insurance to ensure you are meeting the needs of your commercial truck insurance policy. It is essential to know that not all commercial truck insurance covers the cargo you carry just because it covers the truck and trailer.
If you need insurance for the cargo, it is often purchased separately, but this is another topic to discuss with your insurance agent and could be something that needs to be fluid so it can be changed with different cargo values from trip to trip.
For more information on commercial truck insurance, contact a company near you.