Trucking insurance is required by law for both businesses and owner-operators who provide trucking services. However, the legal requirements are few and there are many additional types of coverage that are designed to protect your trucking business more completely. Let’s look at some of the coverages that you may want to consider:
· Primary Liability: Every rig, even leased units, must have primary liability coverage, which protects third parties who suffer bodily injury or property damage following an accident.
· General Liability: This coverage protects third parties from injury or property damage from accidents that occur when trucks are not on the road. For instance, a warehouse worker could trip and fall while unloading a truck.
· Physical Damage: This coverage protects your rigs from damage as a result of collision, fire, theft, vandalism or severe weather. The premium is typically a percentage of the value of your equipment.
· Non-Trucking Liability: This coverage protects trucks and third parties when the driver is not under dispatch. This may include trucks that are parked.
· Cargo Insurance: Covers any damaged or lost freight during transit. This coverage may have exclusions such as unattended vehicle and maximum theft limits.
· Terminal Coverage: Covers freight located at terminals. This coverage may have time limitations, such as 72 hours per load.
· Warehouse Legal: Covers goods that are warehoused in the event of loss, damage, theft or fire. The amount of coverage is dependent on the goods being stored at any given time.
· Non-Owned Trailer: This can be divided into liability and physical damage. Both cover trailers that you pull for a third party.
Ask what trucking coverage is right for you. Call Security First Associated Agency at (810) 732-5800 for more information on Flint trucking insurance.