Just like with any other vehicle, it is important that you get insurance for your trucks, more so when you are using your fleet for business purposes. An insurance policy will provide you with a certain protection against the costs that are brought about by unforeseen circumstances. This will ensure that your business operations are not disrupted. In line with this, below are some of the types of semi truck insurance that you need to consider.

General Liability

One of the insurance plans that you need to look into is the general liability insurance that covers third party physical injuries and property damage that stems from regular business operations, not necessarily from truck driving itself. For instance, if one of your workers gets injured while they are on the premises of your office or warehouse, then a general liability insurance policy will cover for the medical expenses they have incurred to treat their injuries. Businesses are mandated by the law to obtain general liability insurance because after all, it protects your business from the most common risks.

Trucking Liability

Also known as primary liability insurance, trucking liability covers the expenses that you incur to address any physical injury or property damage that you cause others while operating your trucks. Regardless of whether you are searching for a new or a used semi tractor for sale, you need to get trucking liability insurance for your fleet since the law mandates you to. In fact, there is even a minimum coverage that you need to acquire for hauling non-hazardous items. All of your trucks need to be listed in your policy because your insurance provider may not pay for physical injuries or property damages caused by the operation of a truck that is not included in the policy.

Non-Trucking Liability

Like with the trucking liability insurance, a non-trucking liability coverage will also cover for the expenses that you need to settle to a third party that sustained physical injuries or property damages while you are behind the wheel of your vehicle. The significant difference, however, is that this policy covers expenses arising from unforeseen situations during non-business related activities. For instance, you may have met with an accident while you are running a personal errand using your truck. In this case, a non-trucking liability insurance will help you pay for the third party’s damages.

A non-trucking liability insurance is intended for drivers who are under a lease with a certain motor carrier because their motor carrier’s general liability insurance only covers payments for injuries and damages incurred while on business operations.

Bobtail Insurance

A bobtail insurance is not a famous type of semi truck insurance, but like a primary liability insurance, it helps cover the expenses of a third party that sustained physical injuries or property damage while you are driving your truck for business purposes. However, this insurance is particularly intended for the use of your truck without hauling a load. This instance may happen when you are traveling between different jobs. For this reason, some motor carriers acquire this insurance policy for their leased drivers.

Physical Damage

In an unfortunate situation that your truck meets an accident while on the road, then a physical damage insurance policy may just save you thousands of dollars for its repairs. The great news is that this insurance policy is also applicable if your truck sustains damages because of natural disasters, and even theft or vandalism.

This is because physical damage insurance consists of two sections. One is the collision coverage, while another is the comprehensive coverage. The former is the section that covers your expenses in case of accidents, while the latter is the section that covers your expenses for the damages caused by other factors that are not related to accidents.

While this type of insurance may not be required by law, it is good to have this particularly if you are a driver operating your own truck. In case you are financing your truck, expect that most lenders require this type of insurance.

Motor Truck Cargo

A motor truck cargo insurance protects the cargo carried by your truck. For instance, during an accident, the goods that your truck is carrying may either be lost or damaged. In this case, your policy will be able to cover for your expenses because of lost or damaged cargo. Aside from accidents, this insurance policy also covers for your expenses during delivery mishaps, ensuring the continuity of your business operations. For this reason, it is a good idea to have this type of insurance even if it is not mandated by law.

Workers’ Compensation

States mandate that you get a worker’s compensation insurance when you are operating a business. This type of insurance ensures that the medical costs of your employees are covered in case they sustain work-related injuries. It also covers for the loss of their wages should they be unable to report to work immediately because of the accident.

Typically, a worker’s compensation insurance provides coverage for injuries after a truck accident, stress injuries from loading cargos, as well as any other work-related illness even if it is not immediately prominent. Most of the time, only motor carriers and owner-operators with additional staff need to have this insurance, but in certain states, this is required for high-risk industries as well.

Other Types Of Trucking Insurance

Aside from the insurance policies listed above, some other insurance policies that you can consider getting for your business include hazmat truck insurance, livestock cargo insurance, as well as trucking umbrella insurance. The kind of insurance policies that you need to get greatly depends on the nature of your business.

To wrap things up, there are several types of insurance that you can consider for your truck or fleet. The key is in knowing what you need for you to be able to maximize the plan that you eventually go for. Alongside this, make sure that you work with an insurance provider that has ample experience in the trucking industry.

Joie Mojica

Joie is the passionate writer and blogger of UsedVending.com. She enjoys writing and works at an amazing pace. Blessed with two adorable boys, she dreams of creating a successful career online. She also loves to write about parenting, home and family life, technology and gaming, as well as beauty and health.