If you’re new to the commercial trucking industry, it can be overwhelming having to deal with some of the various requirements and needs of the new field.
States all have their own regulations, while at the federal level, there are even more rules to follow. One of the most necessary, and also potentially one of the most complicated, is the need for commercial truck insurance, which can be an especially big hurdle for a new driver. Here is a new truck driver’s guide to commercial truck insurance to help you navigate this potential minefield and come out on the other side intact.
Much like a personal vehicle, or anything else you take on the road, commercial trucks require insurance, for liability purposes above all, but also other needs. If you’re an owner-operator — that is, you drive a truck you own yourself, rather than drive a vehicle maintained by others as part of a larger fleet for a trucking company — you’ll have to provide your own insurance, which is why you need to know what you need.
The biggest requirement, of course, is liability, which pays for damages to other vehicles and injuries involved in the case of an accident for which you are at fault. This is the bare minimum for insurance coverage, but more is advised to ensure you are protected as well. You’ll likely want coverage to pay for physical damage to your own vehicle and coverage for injuries you may sustain in a crash. Cargo insurance is an important thing to have, lest an accident leave you scrambling to cover the loss of anything you were hauling.
There are other, specific, needs you may need to cover. There is, for instance, reefer insurance, or coverage for refrigerated trucks. If you haul perishables that must be kept cold in transit, a reefer truck is vital, but if the refrigeration unit breaks down on route, the loss can be catastrophic if insurance can’t pick up the tab. You might also want bobtail insurance, which covers a truck when it’s being used for non-commercial purposes, which can be as simple as just driving from your home to the company where you’re picking up cargo. You can acquire trailer interchange insurance, which covers wear and tear to the trailer due to regular usage.
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You’ll need to take various things into account when buying insurance, including your driving record, the type of truck you drive, the state you live in, how far you operate the truck (interstate trucking can increase your premiums), what cargo you carry, even where you keep the truck when you’re not driving it. You’ll need to determine how much coverage you need, what deductible you’re willing to pay, and more.
So with so many variables and issues to cover, what does a driver do when all they really want to do is just drive a truck? They turn to CheapTruckInsurance.com.
At CheapTruckInsurance.com, a new truck driver can answer a simple questionnaire declaring their needs and truck usage, and the website will search and find up to three different quotes from competing insurance agents vying for your business. Once you select the quote that best fits your budget and requirements, you simply turn the task over to your new agent and they’ll draft the policy you’re looking for. All you have to do then is sign on the dotted line and hit the road, knowing you’re insured for anything you may face.