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18 Wheeler Accident Statistics
- There are around 2 million tractor-trailers in the United States.
- 500,000 18 wheeler accidents occur per year of which 5,000 results in deaths, and 98% of the accidents result in the death of the driver or passenger of the other vehicle.
- Large trucks cause around 130,000 injuries per year.
According to the National Highway Traffic Safety Administration (NHTSA) 2012 report:
Accidents caused due to large trucks, including 18 wheelers caused:
- Number of Trucks Involved in Crashes: 317,000.
- Number of Deaths: 3,921.
- Number of Injuries: 104,000.
- Fatalities in crashes increased by 4% from 3781 in the year 2011 to 3921 in the year 2012
What’s Typically Included in 18 Wheeler Insurance
18 wheeler truck insurance essentially covers the following:
Liability Insurance – As per statutory laws, most of the states in the United States require liability insurance, and in fact, if you do not have 18 wheeler liability insurance, most of the states will not issue the required licenses and permits to you.
Property Damage – If your 18 wheeler is responsible for an accident, then the property damage insurance will cover the repair or replacement costs of the vehicles that were damaged by your truck.
Physical Damage Insurance – This insurance protects your 18 wheeler and also provides protection against other risks and hazards that you may face as the owner of the truck. The physical damage insurance provides the maximum coverage and protection for your 18 wheeler. Irrespective of whether your 18 wheeler is leased out or you are still paying the original vehicle loan, the physical damages insurance helps to prevent the loss of the vehicle and also to pay the balance amount.
Comprehensive Physical Damage – This insurance covers the 18 wheeler for a wide range of risks such as vandalism, theft, damage caused by storms, and other unforeseen events, except collision or roll-over.
Collision Damage – This insurance pays for the replacements or repairs required in the case that your 18 wheeler overturns or collides with any object.
Specified Peril – Also known as the fire and theft along with Combined Additional Coverage (CAC), this insurance provides coverage for only specific perils that are listed as per the business auto policy.
Underinsured or Uninsured Motorist – If your 18 wheeler or your driver is in an accident, then this insurance prevents you from paying the repair or medical bills if the driver of the other vehicle is at fault and he is uninsured or underinsured. This insurance will help to pay for the damages and injuries caused to your property or you and if the other drive is incapable of paying the amount.
Some other types of insurance that you may want to consider for your 18 wheeler are:
- Towing Insurance: Towing insurance pays for the expenses that will be incurred if your 18 wheeler needs to be towed away from the accident site.
- Rental Insurance: If your 18 wheeler has been damaged because of an accident, the rental insurance pays the rental cost of hiring a replacement truck.
- Cargo Insurance: This pays for the replacement or repairing of any cargo carried by the 18 wheeler which has been damaged in an accident.
- Trailer Insurance: This insurance protects against any damage caused to the trailer being carried by the 18 wheeler during the time of the accident.
- Trailer Interchange Insurance: If your business is in trailer exchange, then this insurance essentially protects you from losses of trailers that are not owned by your business.
- Unattended Truck Insurance: This insurance pays for any vandalism or theft if the driver has left the truck unattended.
- Accessories Insurance: This pays for repairing or replacing any expensive equipment in your 18 wheeler such as GPS devices, radios, etc.
How Can I save Money on 18 Wheeler Truck Insurance?
You can save money on your insurance for 18 wheelers by:
- By paying the entire premium annually in one go, you can save money on your insurance.
- Another way of lowering the cost of your 18 wheeler insurance is to get quotes from various insurance companies and choose the one that offers the best terms and the lowest rates.
18 Wheeler Truck Insurance Discounts
- Insurance companies offer a variety of discounts to their customers, and you need to ask your insurance company for them.
- By paying an annual premium in one amount, your insurance company may offer you a discount of up to 20% or the premium amount.
- Installing various safety equipment in your 18 wheeler, such as GPS devices or deer guards, can qualify you for discounts.
Getting the right 18 wheeler insurance can be critical to the success of your trucking business. So, it is a good idea to evaluate the insurance policies offered by various companies before deciding on the one that offers you maximum benefits.