Commercial Truck Insurance
Driving a commercial vehicle of any type requires specific insurance coverage to protect both you, the driver, and other people and property who may incur damage or injury as a result of your driving. The coverage you need will depend on whether you are an independent driver or if you own or operate a trucking company, and what type of driving you do. There are many types of policies available, depending on the situation, but all trucks are required by the FMCSA to carry a minimum of $750,000 in insurance coverage. The amount of coverage you are required to have depends on a variety of factors, including whether or not you transport cargo, what kind of cargo you transport, and if your vehicle has passengers.
While insurance on your private vehicle generally just covers damage caused if you are involved in an accident with another vehicle, commercial truck insurance must cover a wide variety of situations, including bodily injury to someone who is hit or injured by your truck or who is injured on your property; damage to someone else's property; coverage for goods delivered to the wrong location; accidents at delivery locations; false advertising claims, and more.
In addition to the insurance requirements established by the FMCSA, other types of coverage may be necessary. If you carry cargo, for instance, cargo insurance will be required by nearly every business to which you deliver. Likewise, if you have financed your truck, the lender will require physical damage insurance. With so many variables affecting what type of coverage you will need, it's best to familiarize yourself with the FMCSA's requirements and then talk with a trusted advisor regarding additional policies for your unique situation.
And remember, while insurance covers damages done to property and people, it won't protect your driving record in the event of an accident or citation. You can have peace of mind knowing you have a team of legal experts standing by to fight for you and your career with Driver's Legal Plan.