Log Truck Insurance. For Less.
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The logging truck industry is one of the most dangerous freight hauling jobs in the transportation industry. If you’re in the logging industry, whether you drive your own truck or lease it out to other companies, you are well aware of how dynamic the industry is.
With its dependence on favorable weather and
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Log Truck Accidents: The Numbers
In 2015, the heavy material transport industry in the US, including log trucks, trailers
Log truck Insurance is absolutely critical for the hauling industry. Here are some of the biggest risks associated with log trucking, which are an important factor in understanding log truck insurance.
Weight and Size of Logs
Logs can be anywhere between 20 to 100 feet in length, weighing over a ton each, sometimes. Not only does this make loading them onto trucks a laborious task,
Higher Risk of Truck Tipping
The increased weight of the log trucks significantly increases the risks of the truck tipping. This creates a potential risk of accidents, which could be hazardous for the driver, as well as for any vehicle that collides, not to mention damage to the logs loaded on the truck.
Unpredictable Weather and Terrain
Not only are log hauling trucks extremely heavy
Log Truck Accidents Cause More Damage
In comparison to the damage caused by a collision with a bus, van, or passenger car, the damage caused due to collision with a log truck can cause serious damage, both to life as well as the colliding vehicle. The likelihood of death or serious, complicated injuries to both parties is significantly higher in the case of log truck accidents.
What Is Log Truck Insurance?
Log truck insurance helps log haulers by covering the liabilities and damages that might be incurred while loading and transporting millions of tons of logs across the country, across tricky terrain, highways, all the way to the sawmills. Just like you would
The difference here comes from the fact that the logging industry, like other heavy transport industries, involves higher accident risks. Incidentally, the heavy material transport industry, of which log hauling is a part, has always been at
What Does Log Truck Insurance Cover?
Typically, an insurance policy for logging trucks covers the vehicle, the driver inside and any other motorists affected by accidental tipping and load losses. As mentioned above, log truck collisions can be far more damaging than other kinds of accidents, making it extremely important to focus on the lives of not just those inside the truck, but also those who might suffer because of the collision.
Unlike insurance for your
How Much Does Log Truck Insurance Cost?
Depending on whether you are a leased owner-operator or an owner, log truck insurance costs will vary for you.
For owner-operators who get their vehicle on a lease, the average annual expenditure on insurance can be anywhere between $3,000 and $5,000 a year.
If you are an owner-operator with your own authority, you can expect to pay around $9,000-$12,000 per truck every year. If you’re planning to get a new authority, don’t forget to factor in the fact that truck insurance policies have increased in the last few years, now priced between $12,000 and $16,000.
In any case, one of the factors that determine the cost of a log truck insurance is the value and age of your vehicle, with old trucks costing much lesser than new ones.
Saving on Your Log Truck Insurance
Insurance is definitely one of the biggest fixed costs that log truckers have to incur, irrespective of whether they’re leasing or not. However, with a careful comparison of quotes, and some precautions, you can turn this into a great opportunity to save money.
First of all, make sure you do your homework when it comes to truck insurance companies since their rates are constantly changing. The next thing to do is to ensure your truck is in top condition, and all regulations and records are maintained. An out of service violation immediately increases how much you spend on your truck insurance.
If you can, pay the full amount for the log truck insurance in one
Lastly, like any other policy, you can also lower your premium for log truck insurance by maintaining and raising your credit with your insurance provider.
At the end of the day, you want to make sure you get yourself a log truck insurance policy that gets you the most protection against damages and liabilities, and that too, from a reliable insurance company who understands the tricky bits associated with log truck insurance.
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