Insurance For Your Box Trucks and Vans
There’s a reason our truck and van clients consistently send their friends to us for their van and truck insurance, they know we’ll work to get their box trucks the best coverage possible.
What Is Box Truck Insurance?
Box Truck insurance is a package of commercial auto policies that are specialized to insure the risks of owning and operating a box truck or van. The box truck insurance is tailored to cover businesses like moving trucks and haulers and protect the truck, the driver, and the cargo.
Being a Box Truck owner has its risks:
- An accident involving a tractor-trailer and a box truck along Interstate 95 in Jessup, Md
- The straight box truck that got into an accident in Delaware that led to a fatality
- The delivery truck that flipped over on the MD-140 caused one person to be airlifted to Shock Trauma
Businesses That Require Box Truck Insurance
There are many types of business that hauls goods that need a box truck. The most usual natures of businesses we insure that need box truck or straight truck insurance include:
- Junk Removal
- Furniture Delivery
- Pallet Delivery
- Small Apartment Movers
- Small Office Movers
- Moving Services
- Small Truck Store
- Retail Delivery
When your box truck is your entire business, you need to do everything you can to mitigate the risks in case there is a severe issue.
What is the Average Cost of Box Truck Insurance
The cost of box truck or straight truck insurance is dependent on various variables. These variables are different for each insurance agency. Hence, it is important to shop around before getting a box truck insurance to ensure you are getting the right coverage at a reasonable cost.
Your commercial auto agent will check your driving experience, business, and coverage that you need, so he will know how much will be the cost of your box truck or straight truck insurance coverage. However, before talking with your agent, it is good to know how much the industry average cost. In this way, you know if you are getting a fair deal.
A business that operates with a single box truck for at least three years and has no record of any accident can pay from $3000 – $5000 per year for box truck insurance. On the other hand, new businesses may expect a little higher insurance cost.
What Affects a Box Truck Insurance Cost
The overall insurance cost for your box truck or straight truck insurance cost is mostly seen in the coverage you pick, the driving records of your company employees, your location, your operation location, and the age and size of your company. Some other factors include:
- Your vehicles’ worth
- Structure of your policy
- Payment plan
How to Lower the Cost of Box Truck Insurance
- Ask for discounts. Insurers can reduce the cost of your premium for various reasons. They offer discounts for airbags, clean driving records, and yearly payment plans. Ask for some discount offers from your prospective company.
- Pay in fewer installments. Companies with box trucks can see their premiums drop by paying yearly installments instead of paying them monthly. Although this payment term may not be feasible for many companies, it is the cheapest method if you can afford it.
- Shop around. An easy way to get a lower premium without cutting down coverage is to compare shops. Make sure to contact several insurance agents before choosing your policy. You can request a free insurance quote from insurers online.
Commercial Auto Insurance For Box Truck
Many businesses and trucking companies use a box truck in their business operations. Regardless of types of box truck business, it is important to make sure that your box truck is adequately covered with commercial auto insurance policy. Private truck carriers or independent trucker for hire should carry commercial auto insurance, which includes:
Liability insurance comes with two coverages, namely bodily injury insurance and property damage coverage. Bodily injury coverage pays for physical damage that is associated with the auto accident. If an auto accident resulted in injuries, your liability coverages will cover bodily injury and will pay for medical bills and other related fees. On the other hand, property damage covers the repairs or replacement of the property damaged by accident.
Medical payments coverage protects you and your company from spending out of your pocket as compensation for medical expenses after your box truck got involved in an accident and caused damage. This policy applied to the driver of the vehicle and all of its passengers when the accident happened. Medical payment coverage works regardless of who was at fault. However, this liability insurance option is not available in other areas. Talking to licensed insurance agents will help you determine the rates that are available and fit your insurance needs.
Physical Damage Insurance
Physical damage coverage protects your box truck. This liability coverage pays for the cost of repairs and replacement in the event your vehicle gets into an accident. There are three levels of protection options, and your choice will determine the extent of loss protection for your vehicle.
Comprehensive Physical Damage Protection
Comprehensive liability covers private carriers or independent truckers who are not the owner of the box truck or straight truck. It means your truck is leased or you have a current financial loan. The comprehensive damage will cover you at the most loss protection possible. It will take care of any comprehensive damages, such as replacement and repairs.
Collision Damage Protection
Collision damage protection covered expenses when your truck or trailer got into an accident or collision with other objects that resulted in your truck roll-over.
Specified Peril (CAC)
Specified peril insurance (CAC) covers non-collision damages but is limited to those you specified in your policy. Its other name is CAC, which stands for Combined Additional Coverage for fire, Theft & vandalism.
Uninsured or Underinsured Motorist
Uninsured and underinsured motorist liability policy protects you from possible dangers. Other people apply for additional coverages to fully-pay additional damages caused by an auto accident.
Cargo insurance liability protects you and your business against losses and damages to the items you are hauling.
Insuring your box truck with the appropriate insurance policy will help you protect your business and avoid possible or bigger losses. Shop around and request a commercial box truck or straight trucks quote from online insurance companies to find the best coverages at a great price.
GET A QUOTE AND GET COVERAGE TODAY
Our Box Truck Insurance agents are ready to help you out.