commercial truck insurance texas

Understanding Commercial Truck Insurance in Texas

If you are an owner-operator of a truck, you might have noticed that owning one can be a lot more expensive than having a car. You may not only worry about gas but, at the same time, high insurance costs. However, vehicle insurance rates can vary from one company to another and are also influenced by various reasons.

What Does Texas Commercial Truck Insurance Cover?

Texas Commercial truck insurance is similar to commercial auto insurance in Texas. The commercial truck insurance policy has several types of insurance coverages that suit each of the trucker’s insurance needs. Texas truck insurance policies are designed to protect every business and its assets. 

Commercial Truck Insurance in Texas covers the liability risks of the drivers in case of an accident. Truck insurance policy includes bodily injury liability to pay for any injuries and medical expenses of the harmed party. If a property is damaged from the accident, the property damage liability policy will cover any fees. Commercial truck liability insurance will also take care of any legal expenses.

Physical Damage Coverage

Physical Damage Coverage covers any compensation to the vehicle caused by the accident or other incidents. It also comes with extensive coverage that protects your property against theft, vandalism, and non-collision causes. The physical damage coverage also covers collision coverage.

Uninsured Motorists Coverage

Uninsured Motorists Coverage pays costs of damages and injuries to you or your employee involved in the accident, which is the other driver’s fault but has no insurance. This guarantees that you are getting the right help when you, your employee, or your truck need it.

Cost of Commercial Truck Insurance

Several factors can affect the price of trucking insurance which includes:

  • Business type
  • Driving radius
  • Vehicle
  • Location
  • Limits you need
  • Drivers’ driving history

Trucking Insurance applies to different types of large vehicles such as semis (tractor-trailers or 18-wheelers), car haulers and auto trailers, tow, tank, dump, garbage, and box trucks.

Texas Insurance Requirements for Truck Drivers and Trucking Companies

Trucking companies are required by Texas law to file proof of commercial truck liability insurance for each vehicle. The lowest amount of Texas commercial insurance will depend on the type of vehicle and cargo. Following the requirements for trucking companies ensures that the drivers and the business are covered in an accident and serious injuries. Since truck accidents are common, you can expect that financial impact can affect the victims. Hence, you must know your rights and the coverage of your Texas truck insurance policy.

Insurance Requirements for Commercial Trucks in Texas

Truck drivers in Texas must follow the minimum liability insurance requirements set by the Federal Motor Carrier Safety Administration (FMCSA).

Commercial liability insurance quote covers the costs of damages sustained by the victims of truck accidents. It usually involves medical bills, costs of repair, suffering, and future expenses. It covers drivers and companies against a severe accident. The minimum insurance liability will depend on the vehicle and its load being hauled. An example quote, if a truck weighs over 10,001 pounds and carries non-hazardous materials, it must have $750,000 of liability insurance. While trucks of the same weight and carry dangerous or explosive materials must obtain $5,000,000 in liability insurance.

Reasons Why Getting Truck Insurance is More Expensive

A trucking insurance policy quote varies from truck insurance agency to another and also due to some reasons.

Trucks are Expensive

Compared to commercial auto, trucking insurance is more expensive. If a truck has been involved in an accident and needs to be replaced, the commercial insurance company pays more than they have to pay if it would have been a car. 

Trucks Can Cause Serious Property Damage

Since trucks are big and bulky, trucking business can cause a lot of damage that may lead to higher property damage claims in case of accidents.

Trucks Can Cause Serious Injuries

In case of an accident, the collision driver is at a higher risk of a severe injury. 

Big Vehicles Are Prone to Damage

Trucks are big and occupy space; hence they are difficult to maneuver, which can likely result in drivers hitting another car.

Since there are reasons that driving big vehicles can cost more money, you can lower these costs by avoiding getting traffic tickets and looking for affordable 18 wheeler insurance or getting a quote from a reliable truck agency or truck insurance agents.

After getting into a severe accident, talk with a lawyer right away. Through the proper investigation, your lawyer will know who is at fault and liable for your injuries and will be able to determine what are other relevant insurance policies. Getting professional when it comes to Texas commercial truck insurance will help you learn the maximum compensation possible to avoid paying out of your pocket.

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