The trucking industry has been a critical component of the American economy for over a century. Practically, every other business depends on the essential service of delivering products and materials from one destination to the other. In such a massive and diverse industry, it should come as no surprise that finding appropriate coverage at a reasonable price can require a lot of time and effort. That is where the expert independent agents at Soliman Insurance & Financial Services come in.
Semi-Truck Owners:
What types of coverage should you consider?
- Primary Liability Truck Insurance is required coverage for all truck drivers. It covers damage to the other party’s property and medical expenses if your driver is found responsible for an accident.
- General Liability Insurance protects your business in the event you are found responsible for medical expenses or property damage due to business activities not directly related to operating your truck. A slip and fall on your property, dispatcher error resulting in damage to cargo or other equipment, and lawsuits for slander or false advertising are examples that fall under this coverage.
- Physical Damage Insurance consists of collision and comprehensive coverage. This coverage will pay for damages or to replace your truck in case of a collision, as well as fire, vandalism, and theft.
- Motor Truck Cargo Insurance covers the costs incurred in the event of damages, destruction, or other loss of goods during delivery and through the unloading process. This is critical coverage that isn’t always required by law but is absolutely necessary for responsible motor carriers.
- Uninsured Motorist Insurance provides added protection against uninsured or underinsured motorists. The percentage of uninsured drivers rises yearly, while some drivers are covered by the law’s minimum requirements, with no hope of adequately paying for your property.