BEGINNER'S GUIDE

TO TRUCKING INSURANCE

If this is your first time buying insurance for your truck, here is some helpful information to help you get started!

 

Selecting Your Coverage

 

If you don't take the time to truly understand and evaluate all your options, as opposed to just purchasing the cheapest plan, you might find yourself in financial trouble when you need your insurance to cover a particular situation. Here some of the most common coverages for truckers that we may provide you with:

 

  • Truckers General Liability Coverage - This covers the actions and mistakes of the driver who is operating on someone else’s property, such as truck stops and loading docks.

 

  • Primary Liability Coverage  - This does not cover your actual truck, but covers the damage you may do to others while operating your truck.

 

  • Physical Damage Coverage - Coverage to repair or replace damaged equipment in the event of an accident or theft

 

  • Non-Trucking Liability Coverage - Coverage for all the damages and injuries to others while the truck is not on dispatch from the company you are currently leased on with

 

  • Motor Truck Cargo Coverage - When working with your cargo, this covers all that is at risk to you, such as stolen goods, wet load, refrigeration breakdown, debris removal, etc.

 

  • Trailer Interchange - Covers a non-owned trailer used under a trailer interchange agreement

 

  • Medical Payment  - This will cover medical bills if you or a passenger is injured while driving or riding in your truck (may vary from state to state).

 

  • Bodily Injury Coverage - This protects you if the other driver is at fault and they do not have sufficient liability coverage for you and your passenger’s medical expenses.

Remember that with Armor Insurance Professionals Trucking Division, you can customize your coverage to suit your financial and trucking needs. If you would like to learn more about coverage or need help determining your needs, contact us!

Trucking Insurance Costs

 

Some factors that may impact the cost of your insurance include your:

  • Business type

  • Number of years in business

  • Vehicle type

  • Driving distance

  • Geographical location

  • Required limits

  • Drivers' driving records

When you purchase trucking insurance, you'll be required to pay a monthly/annual fee called a premium, which will vary depending on your coverage and risk factors. We'd be happy to provide you with an estimate of what that would cost for you; simply fill out our online quote form or contact us.

If an accident occurs and you are required to pay for repairs, replacements, medical bills, or other expenses, you'll first have to pay a specified fee known as a deductible, and then your insurance will pay for the remaining costs incurred from from event. Like your premium, your deductible will depend on your needs. It's important to make sure that you understand your particular deductible policy, because these may vary from company to company. For instance, one may have a deductible of $1,000 and require it for the truck, trailer, and cargo individually, making it a total of $3,000 before your insurance can actually kick in. However, another company may have a $1,000 deductible for everything in total, meaning for the same accident, you will only be paying $1,000 before your insurance kicks in. Understanding your trucking insurance costs is vital as it may take away from growing your business.

 

Contacting an Agent

 

Speak with a knowledgeable agent about your insurance, not only for your benefit but also the trucking industry's. You can trust our agents at Armor Insurance Professionals Trucking Division to provide you with insightful knowledge and helpful resources to be informed about your insurance. Our staff members have a collective 50+ years of experience in insurance and are ready to make sure you are fully protected while you face the roads. The more informed you are about your policy and your trucking business, the more we can help you become a better driver and/or business owner. Here are some good questions to ask any insurance agent when discussing your trucking insurance:

 

  1. How is the insurance company rated?

  2. What type of cargo form is included with the policy?

  3. Is there an additional deductible?

  4. Does the company specialize in trucking?

  5. Does the company have 24/7 claims reporting capabilities?

  6. Are there references available that I can go to?

 

Here at Armor Insurance Professionals Trucking Division, we are committed to protecting you on all your journeys and the growth of your business.

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