Commercial Trucking Insurance From Burton & Company
Your trucking company may need to extend beyond the traditional auto insurance coverage options available. Here’s a look at some of our top trucking insurance products for the trucking industry by Burton & Company:
Primary Auto Liability
Federal regulations require you to have primary auto liability on every one of your trucks, regardless of whether they’re owned by your company or leased. Also known as trucking liability, this provides protection should a third party become injured in an accident caused by your truck.
Primary auto liability insurance couples two types of insurance coverage: bodily injury liability and property damage liability insurance. The policies offer basic insurance coverage for injuries or damage done to people or property after an accident. The minimum amount required depends on the nature of the freight.
General Liability
General liability protects you in incidents that lead to bodily or property damage to another party as a result of regular business activities. In some cases, a trucking company will use its general liability insurance to cover lawsuits, settlements, medical damages, and legal fees. For example, it could cover legal and medical bills if a customer is injured after slipping and falling in your office or warehouse.
For trucking companies, a general liability insurance policy can cover mistakes in load delivery and drivers’ actions while operating on another person’s premises, such as loading docks or truck stops.
Physical Damage
For most truckers, their commercial truck is their livelihood, and an accident that puts them out of commission can be devastating. A physical damage insurance policy covers commercial truck or trailer repairs due to damage from natural disasters, collisions, vandalism or theft.
In some cases, physical damage insurance for trucking isn’t required by law. However, it can be in a trucking company’s interest to protect against physical damage. The policy can replace a truck that is damaged beyond repair, making it an essential policy for protecting your investment in your fleet.
Uninsured Or Underinsured Motorists
Getting into an auto accident is difficult enough. But it could be made worse when they’re uninsured or underinsured, leaving you or your trucking company to cover the accident.
An uninsured or underinsured motorist policy can offer protection if another person hits your truck and does not have sufficient liability insurance. Damages may include damage to your vehicle, property or person with expenses far exceeding the other person’s insurance. This coverage is treated as an addition or extension to existing trucking insurance coverage.
Motor Truck Cargo
This will provide coverage if the cargo of your commercial truck becomes damaged or lost. For example, if your truck gets into an accident and its cargo is dumped on a roadway or waterway, motor truck cargo insurance can cover the expense of recovering or clearing the load. Motor truck cargo insurance may also protect your load against the risks of direct physical loss while in transit, loading or unloading.
Premiums are generally charged according to the type of freight. In the case of an accident or delivery mistake, motor truck cargo insurance can help keep your bases covered.
Workers Compensation
Required by most states, workers’ compensation insurance pays your employees’ medical costs and lost wages if they experience a work-related illness or injury. A workers’ compensation insurance policy for truckers can cover injuries after truck accidents, stress injuries caused by loading cargo, and work-related illnesses stemming from chemical exposure, among other hazards.
Workers’ compensation for the trucking industry can be broken down into multiple segments: fleet owners, motor carriers, and owner-operators. Some states may require owner-operator workers’ compensation for trucking companies.
Reefer Breakdown Coverage
Reefer breakdown or refrigeration breakdown insurance is an addition to cargo insurance. If your trucking company owns refrigerated trucks, this can cover the costs of spoiled cargo due to a mechanical or refrigeration breakdown, damaged products due to a collision, or lost cargo.
Some insurance policies will not cover high-risk commodities like perishable goods. With reefer breakdown insurance coverage, special trip endorsements may be available for common exclusions such as pharmaceuticals and seafood.
Bobtail Liability Insurance
Bobtail liability insurance applies to auto liability coverage for truck owners/operators anytime the vehicle is not attached to a trailer, regardless of whether the truck is under dispatch. In some cases, bobtail liability insurance covers a truck when its owner/operator is operating the vehicle for mobility like driving on the way home after a delivery.
A bobtail liability insurance policy will not provide coverage if you’re hauling any trailer, reefer or other loads. The truck must be completely free of cargo at the time of the accident.
Talk To The Trucking Insurance Professionals
Your trucking company plays an essential role in keeping the economy going, and insurance protects you from the risks involved in this important work. Reach out to Burton & Company to request a quote online or contact us at (888) 652-1325 to discuss your commercial trucking insurance needs today. We’ll review your information and present you with a customized insurance solution with no obligation.
