Some people own several tractor trailers for business purposes or a new entrepreneur might have only one. It might be a case where certified and trained drivers make cross-country freight delivery or trailers that make in-town deliveries for a company. Whatever the situation, tractor trailer insurance will be required that is suited to your particular business as well as the risks which will be involved. This is because every business is different from another in their particular risks, vehicle uses and also the type and amount of coverage required.
Unless you are an insurance expert, you will definitely need assistance in making the right decision regarding tractor trailer insurance for any business that you may have. Begin by making contact with a trusted source specializing in this type of insurance. Finding the right agent to talk to about tractor trailer insurance policies will allow you to choose the best available rates. In addition, the agent will assist you throughout the entire process for insurance coverage for your business.
Types of Tractor Trailers Insured
There are different types of vehicles that benefit from tractor trailer insurance. These trailers include but are not limited to:
• Utility
• Transfer boxes
• Tilt
• Tank
• Refrigerated
• Pole
• Lowboy
• Logging
• Livestock
• Horse
• Gooseneck
• Flatbed
• Dump body
• Dry freight
• Concession
• Bulk commodity
• Bottom dump
• Auto hauler
What to Expect from Tractor Trailer Insurance
Like with many other vehicle insurance, tractor trailer insurance have different forms of coverage. Each of these are designed in a specific way to offer protection to personal assets as well as your business from disastrous damage and loss. Tractor trailer insurance required may include:
• Coverage for Physical Damage
This takes care of the expenses for vehicle damage that occur in any accident or incident. The coverage involves payout for collision damages resulting from an accident and also complete coverage for any damage that result from vandalism, theft and additional collision causes.
• Liability Insurance for Commercial Truck
In a case where the driver employed to your business or yourself is responsible for a particular accident, this type of insurance covers all liability risks. These cover bodily injury liability. That is, the party that is injured will be compensated for medical expenses, injuries costs as well as damage to property occurred during the accident. Legal defense costs will usually also be covered even if you or your hired drivers are responsible for the accident.
• Coverage for Motorists who are underinsured or uninsured
This offers payout to anyone involved in an accident resulting in damages and injuries where the driver of another vehicle caused the accident. This coverage is applicable if the insurance coverage for the driver at fault is not adequate to compensate you for property damage and injuries.
• Coverage for Truck Cargo
This covers any item theft or damage to items that the trailer is hauling. This is ideal especially for items that are expensive to replace. It is best to include this type of tractor trailer insurance.
There are several other forms of insurance coverage that are not mentioned here. The options will vary as policies are structured to fit specific needs and concerns. For instance, a non-owned vehicle insurance policy may be required in the case of an employee required to use their own vehicle while conducting business on behalf of the company. In this case, anyone driving these vehicles will be protected from expenses that result from accidents occurring during hours doing business when the vehicle driven is not owned by the company.
Choosing the Right Tractor Trailer Insurance Company
The question will always come up concerning which insurance company is most ideal for your specific tractor trailer business. Insurance companies that offer coverage to drivers of trucks, trailers and other types of motor vehicles do not all operate the same way. Some use independent agents to sell their insurance, while others use sale representatives from their own companies. Some insurance providers may offer coverage for trucks or tractor trailers only while others may sell this type of insurance as an option from a several other coverage offers. They also vary in certain types of specializations for providing insurance coverage. For instance, some cover only owner-operators, equipment that are temperature-controlled or large fleets. You will find that some companies sell to several hundreds of customers and others on sell to a small number of customers.
Due to the many variations in types of insurance, it is recommended that you choose a company that sells insurance for tractor trailers and commercial trucks only. This is because the insurance providers that do not specialize in these types of vehicles tend to overlook certain details. There are some things that a specialized provider will pay attention to while others would not know to look for these things. For instance, it might not be the first thing that come to the mind of an agent of a non-specialized company that to be eligible for a coverage for a back-haul profitable delivery of items that are not carried frequently, an owner-operator might need to do a coverage upgrade on a single-trip or temporary basis. A company specializing in this insurance coverage would be aware of the possibility of the owners needing this coverage, discuss it with the customers and give them useful details and recommendation for affordable policies of this type.
What to Look for When Choosing a Tractor Trailer Insurance Company
Experience is the first thing to look for when looking for providers of tractor trailer insurance. The length of time in the business is a factor which contributes to the kind of services offered. In addition, you should be able to compare costs as well what is covered with the different types of insurance. The financial strength of the company or the ability to meet the expenses of several claims simultaneously should be of concern when choosing a tractor trailer insurance. Although it might require some amount of effort, ensure that the overall value in convenience, money and time are clear regarding the services and products provided.
