When it comes to purchasing a commercial truck insurance policy, you will end up with a varying degree of coverage options. In the trucking industry there are so many types of jobs, trucks, and businesses, there are also many types of truck insurance to meet all different needs.
Some insurance policies may be specific to the exact type of freight you are transporting (products and other perishable goods, for example). Some drivers carry hazardous materials and chemicals that require proper coverage. Transporting live animals needs the right amount of cover because it can be expensive to replace it. Cargo insurance exists to cover all kinds of valuable cargo. If something happens to a truck full of chickens, make sure you're not the one paying.
Other insurance policies may also be intended to cover only trailers so that you can participate in trailer swap agreements with other drivers or road carriers.
Coverage needs will also vary depending on whether you own your own truck and outsource your services to large scale freight shippers. In this case, you will need to provide yourself with coverage against any damage to your property. Many employers have provided coverage for their drivers, but in many cases this coverage ends when a driver "peaks" or has finished delivering a load. If the driver is still driving the truck (coming home, walking around, etc.), the driver needs what is called "bobtail" insurance. Without bobtail insurance the driver assumes all financial responsibility for any accident ... It's a scary place.
State and federal regulations are also an important consideration. State laws vary from region to region, but federal law is constant. Primary liability insurance is a type of coverage required by federal law. No matter what state you are in or what truck you drive, if you don't have primary liability coverage, you are risking your financial security.
Basic principles of civil liabilityPrimary liability insurance is a type of commercial truck insurance designed to cover the costs of damage and personal injury suffered by the party who is not at fault in an accident involving a commercial vehicle. For example, if, as a truck driver, you come across a car, the primary liability will cover damage to that car or injury to its passengers. This type of truck insurance coverage is most often provided by commercial motor carriers to cover their drivers as well as independent owners / operators working for them on a contract basis.
It is important to understand the magnitude of the cost of accidents involving commercial trucks. If the insurance isn't there to pay, someone will. No one ever wants to be that someone, but unfortunately it does happen.
LimitsWhile primary liability protects commercial truckers by deferring the cost of medical and repair bills, it does not cover everything. This is especially true and important in the case of self-employed truck drivers. A separate comprehensive truck insurance coverage would be required to cover property damage, regardless of fault in an accident.