Insurance for Truck Drivers-The Coverage You Need

First, truck drivers, tractors, and trailers are insured as commercial equipment and cannot automatically extend the coverage of personal car insurance. Electronic equipment, loading equipment, cargo fixing equipment, rent refunds, and personal property insurance are different and are not automatically covered.

Responsibility for commercial vehicles is very simple. If the truck driver has ICC authority, the federal government will be given proof of financial liability. Filing is intended to help truck drivers continue to comply with the requirements of federal (ICC) authorities. Uninsured / uninsured drivers also help truck drivers injured by uninsured vehicles. Medical expenses are useful when someone gets injured in or on your truck.

Freight insurance covers the truck driver’s liability for other goods carried by the truck driver. There are three different forms or policies. Named Perils and Theft with narrow coverage, Broad Form that adds specific coverage to the base form, and All Risk coverage that covers all causes unless excluded by the policy language. Regardless of the form, there is specific coverage that truck drivers need. Truck drivers must purchase a freight coverage equal to the maximum amount of goods they carry. Some policies have joint insurance clauses that allow you to limit coverage limits if you carry a load of value higher than the limits guaranteed by the policy.

1) Refrigeration carriers need to cover chiller failures or chiller failures to cover the damage caused by freezing or rot that occurs when the refrigeration unit fails. Don’t forget to check if the policy covers the misconfiguration of the temperature control device. Most refrigeration policies apply only in the event of a unit failure or malfunction.

2) The flatbed carrier must cover or approve the dampness in case the luggage is damaged by rain or snow. Most policies have tarpaulin approvals that limit coverage to properly covered loads. From time to time, the tarpaulin can be damaged or blown away because the truck driver is not injured, leading to damage to the luggage that may not be covered unless a range of dampness is added. Tarpaulins, chains, and binder covers are also desired to replace stolen or damaged binding equipment that is not otherwise covered.

3) Dry van carriers are advised to make sure that the movement of luggage is covered. This type of operation uses a larger and longer trailer and can cause the load-bearing device to fail. These instances are rare, but they do occur.

All truck drivers had to get freight compensation in his freight policy. This coverage pays for the lost income if he is unable to carry the luggage due to the compensated loss. Disposal and cleanup coverage for losses should be at least $ 10,000.

The coverage of physical damage is typically the repair of tractors and trailers in the event of indemnified losses. This coverage is guaranteed by the values ​​provided. The value set on the device is the responsibility of the truck driver. Insurers pay losses based on equipment of comparable quality. That means market value. Therefore, truck drivers need to make sure their values ​​are accurate. Remember to pay a deductible amount per unit unless your policy includes deductible approvals. In addition, towing covers only the loss covered by compensation, and invalidation and failure are not covered. Many policies pay losses and the vehicle’s stipulated amount includes towing and storage restrictions, so if there is a loss and the towing or storage charges are high, the policy restrictions cannot cover all losses. there is. The tow range can and must be purchased in addition to physical damage. Make sure the towing policy covers failures and roadside services.

Electronic devices such as mobile phones, televisions and radios are usually not covered unless you purchase additional coverage. Your personal property is also not covered unless specifically covered by policy, but may be covered by your homeowners insurance. Rent refunds are also not automatically covered.

I have insured truck drivers for many years and know that their emotional attachment to trucks can be very strong, but insurers use the equipment they use to generate income. Is considered part of. Therefore, the older you are and the more miles you have, the less money you have worth. There are also issues of improvement involved. Tractors travel much longer distances than cars and have a longer lifespan. The average tractor travels 115,000 to 135,000 miles per year. Some insurers take this into account when replacing engine or suspension parts after an accident. If a part is expected to have a lifespan of 500,000 miles and an accident occurs at 250,000 miles, some insurers use only half the expected lifespan of the part and only half the replacement price of the part. I will not pay. If the agent doesn’t know how his insurance company handles this in advance, there may be hell to pay.

General liability is for accidental liability exposures that are not covered by commercial vehicle insurance. This is good coverage for car carriers who may drive a vehicle to a location after being unloaded from the trailer. Also, a truck driver who uses his forklift to load and unload cargo.

Workers’ accident compensation is required for injuries to truck drivers or their employees. Occupational accidents are a low-cost alternative with the strengths and weaknesses of a particular coverage. It is always best to explain all these coverages to your truck insurance specialist and get advice on the risks of a particular type of truck.

See the links below for more information on me and truck related issues.