Posted on March 8, 2016
Dump Truck Insurance is specialty insurance offered for dump truck operators. If you are leased on to a trucking company hauling aggregate or bulk cargo then you will also want to confirm any additional coverage needed like non-trucking liability or physical damage. There are a small number of insurance companies with access to this type of insurance.
Posted on March 8, 2016
Owner operator insurance coverages can vary, but generally an owner operator with a lease agreement with another motor carrier will want to understand the differences between non-trucking liability, bobtail insurance, unladen liability, physical damage, and passenger accident insurance.
Posted on March 8, 2016
Non-trucking liability insurance is similar to bobtail coverage although will only apply if the driver is not under dispatch. This coverage will apply even if the tractor is pulling a trailer, but only if it’s not under dispatch.
Posted on March 8, 2016
Bobtail Insurance is used to protect the tractor when it’s being operated without a trailer. This coverage can apply if the truck is under dispatch or if it’s being use for personal use. Bobtail coverage is often a requirement for owner operators leased onto a motor carrier. Non-Trucking Liability is a similar coverage that also can provide additional coverage to owner operators.
Posted on March 8, 2016
Trailer interchange insurance is designed to cover any non-owned trailers that may be pulled by a tractor. This coverage will need to be added to a policy in the event that a driver pulls a third-party trailer.
Posted on March 8, 2016
On-hook towing insurance will pay to replace or repair a non-owned vehicle being towed or hauled that is damaged by a covered peril such as collision, fire or explosion, theft, or vandalism. It is a common coverage obtained by tow truck companies.
Posted on March 8, 2016
Hotshot insurance needs can vary depending on the size and type of trucking operation. Hotshots must still abide by many of the same regulations as for-hire motor carriers although there are some differences depending on if the hotshot hauls freight above or below 10,000 lbs. There are still requirements that must be met.
Posted on March 8, 2016
Dry van insurance requirements are different based on the needs of each individual trucking company. The common cargo coverage for this type of equipment is $100,000 although it is not uncommon to see higher limits of $250,000 or even $500,000 in the event the trucking company is transporting high value products or cargo.
Posted on March 8, 2016
Reefer or refrigerated insurance is an important coverage to understand if you are involved in the refrigerated trucking. A common type of coverage is called reefer breakdown. Reefer breakdown insurance protects against spoiled refrigerated cargo because of a breakdown or mechanical failure of the refrigeration unit on a reefer trailer for commodities covered under that policy.
Posted on March 8, 2016
Flatbed insurance needs must be carefully evaluated based on an assessment of all risks associated with a particular trucking operation. Flatbed trailers are open deck and the cargo can be completely exposed to the elements unless a tarp is required. Drivers may sometimes participate in the loading, unloading, chaining, strapping, and/or tarping. It is important to understand the risk associated with this and evaluate what worker’s compensation coverage might be necessary. Additionally, it is also essential to understand the risk environment for third-party personnel who may assist in these activities. Many flatbed trucking companies will also purchase general liability insurance.
