Trailer Interchange Vs Non Owned Trailer Coverage: Understanding The Core Differences

Posted on February 28, 2018

For all the progress man has made in the early years of the 21st century, you’d expect trucks to be obsolete right now. But despite rail being a cheaper mode of transporting goods and air being the fastest of them all, trucks still find their relevance in that they bridge the gap between manufacturer and consumer. I mean, once goods are delivered to the city by either rail or air transportation, how else are they going to make their way to your doorstep? At RateMyTruckInsurance.com we realize the many challenges consumers and retailers alike try to overcome by using alternatives to trucks. However so, a truck is the most convenient door to door delivery system known to man and it’s about time you start considering truck insurance and how best it can allay some of the fears that are inherent to using road transportation.

Trailer Interchange vs Non Owned Trailer Coverage

It’s not uncommon for truckers to make use of trailers belonging to other truck owners. In fact, these days, it’s actually the norm rather than the exception, a scenario that is pushing insurers to extend auto over to the non-owned trailers attached to their vehicles. Be that as it may, it’s also not uncommon for insurers to exclude non-owned trailers from the original vehicle cover and expect trucking companies to add it to their policies separately.

So, what then are the main differences between trailer interchange and non owned trailer coverage?

Trailer interchange insurance is the most popular kind of truck insurance for trucking companies. It is extensive cover in that it covers the insured for damages incurred to trailers whether or not they’re attached to their vehicles at the time of the loss in question. All that is required is possession, i.e. the trailer must be in the trucker’s care. In addition, container haulage companies are included in the definition of trailers, thereby making it a convenient necessity in instances of intermodal operations where equipment includes both a container and a trailer chassis. What is perhaps the most distinguishing feature of trailer interchange insurance is that it requires the existence of an ‘equipment interchange agreement” before cover is extended to non-owned trailers that may, from time to time, be in your possession, custody or care.

Now, onto non-owned trailer coverage.

Non-owned Trailer Coverage

It should come as a source of satisfaction that this cover extends to your vehicle as well as to any non-owned trailers and containers attached to the covered vehicle. As if that wasn’t enough, this cover makes clear mention of maximum coverage amounts for physical damage on non-owned trailers. However, the true beauty of this kind of cover is that it is unnecessary to have a written agreement, it literally applies automatically. Suffice to say, insurance payouts are limited only to losses that are incurred when the non-owned trailer is attached to the power unit that is covered.

We have been selling trailer interchange insurance for years now, and in our humble opinion, it is the cog that keeps any trucking business afloat. Fires, vandalism, accidents and a host of unexpected losses bedevil truck owners every minute of everyday, threatening to cripple their operations indefinitely. However, with trailer interchange insurance and non-owned trailer coverage, all these fears are put to rest, thereby allowing truckers to fulfill their obligations to clients flawlessly. Considering the kind of valuables normally transported by trucks, it makes sense to protect oneself from the unknown.

So, give us a call today and find out more about our many offerings. At RateMyTruckInsurance.com, we are devoted to giving you the peace of mind that allows you to carry on your trade or business profitably.

Temporary Commercial Truck Insurance : Why You Need The Policy

Posted on February 20, 2018

Temporary Commercial Truck Insurance

Are you a commercial truck driver who is looking to buy your own truck? To fit perfectly into the commercial truck industry, you’ll need to take up an insurance cover for your newly-bought truck. As you ponder on the ideal permanent policy to take up, you will need temporary commercial truck insurance coverage. At RateMyTruckInsurance.com, we have the best short-term insurance offers for all truck owners. We understand that commercial trucks are prone to various risks and a majority of them leads to vast losses.

We also understand that it’s hard to find the right permanent insurance cover for your new truck. For this reason, we provide you with a temporary insurance reprieve until you apply for the long-term policy. If compared to most insurance policies for commercial trucks, the short-term insurance is cheaper and convenient for all truck operators. This is with respect to the charges and the savings that you make in case a risk occurs. Remember, we are liable for the expenses provided that they are in compliance with the policy stipulations.

What is a Temporary Truck Insurance Policy?

We define temporary truck insurance as a short-term auto insurance policy that is issued to new truck owners and truck operators to cover them from risks and damages occurring during a specified short period. The policy usually runs for a period of 30 days. It stipulates that you can’t get involved in any commercial aspects since you are subjected to a dispatch order. Typically, this means that you have to wait for the permanent insurance before you commercialize your freight.

What are the Benefits of the Short-term Policy?

Purchasing a temporary truck policy provides you with a credible commercial cover which allows you to transport a power unit on the roads legally. You do it in compliance with the drive-away regulations. This policy allows you to liberally enjoy stripping services, repairs, lettering, post-market applications, and any other advantage that commercial truck policyholders enjoy. The short-term policy is a great step in establishing a permanent truck insurance cover.

The beauty of our cover is that it is universally accepted. Therefore, you can drive your commercial truck freely within the specified period. It’s always a problem to get a newly purchased truck on the roads prior to procuring a permanent insurance cover. This is where our temporary commercial truck insurance comes in. The policy offers you a temporary solution in as far as truck insurance covers are concerned.

Win-Win Situation

When you buy our short-term insurance for your truck, you achieve a piece of mind when driving. You get to move about on the roads with the knowledge that you are extensively protected against the temporary damages. With this policy, you can drive your truck home, remodel it, and find a recruiter. The only limitation is that you cannot participate in commercial freight business until you apply for the permanent policy. The policy covers you against a number of damages such as accidental collisions, injuries, property damages, and hospitalizations costs. Whether you have a front loader, a box truck or a pickup, you can have the vehicle covered with our short-term insurance provision.

Bottom-line

If you want to apply for the temporary commercial truck insurance cover, you should consider RateMyTruckInsurance.com. We have the most flexible package to cover you in the short period while you await your application for the permanent policy to follow through. We also provide you with informed insurance agents who will guide you through the application and procurement process. In the end, you get the policy that matches your commercial needs.