Commercial Semi Truck Insurance. For Less.

 

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We Make Semi Truck Insurance Easier

Keep in mind that all semi truck must have a semi truck insurance policy which covers mainly damages caused to other individuals by your driver or you and also injuries that may occur during the incident. Liabilities are a must pay in every single state, commercial trucks which always cross the state line should ensure that they have met a federal mandate payment.

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What You Need to Know about Semi Truck Insurance

The liability insurance minimum payment solely depends on the trucks weight class and the materials being ferried. For instance, a class A commercial truck, yes a semi truck with a weight of about 10,000 pound and ferrying hazardous goods should ensure that it makes a minimum liability insurance cover of $ 1 million as opposed to a commercial truck below the 10,000 pound mark but it carries normal commodities should also pay a minimum insurance payment of $300,000.

Commercial Trucks ferrying explosive commodities should make a payment of $5 million in the liability coverage policy, regardless of their weight. Apart from the primary liability coverage that is required by the law, here is a list of semi truck insurance coverage that you can choose from:

What is Semi Truck Insurance?

Are you aware that an accident that involves big rigs can be so destructive and also lead to property damage not to mention personal injury lawsuits which will follow? This is when the big rig will come in handy, the semi truck insurance will provide you with a guaranteed financial assistance in times of unfortunate events like when your rig is involved in an accident.

Remember that owners of trailers have numerous semi truck insurance coverage that requires specialized insurance cover. Are you aware that there are a lot of basic policies which are required by the law to cover your commercial vehicle liability , which is a must! You also have an option to add an additional insurance cover which you feel suits your line of business.

Commercial Semi Truck Insurance FAQ’s

PHYSICAL DAMAGE

This type of semi truck insurance is meant for the lender when you finance the procurement of your rig. It provides coverage for your goods when you are involved in a collision and it last until your loan is due. Whatever the cause, the comprehensive insurance policy also covers all the damages and also loss caused by any type of natural disaster, theft, fire or even vandalism.

MEDICAL PAYMENT INSURANCE
This semi truck insurance covers any kind of medical cost to you, driver or even a passenger which was incurred in an accident caused by your rig. Insurance companies always require you to give them a list of all of your drivers which will help them to release funds for their treatment because without proof they will never release any fund.
EQUIPMENT COVERAGE
This semi truck insurance can be paid to supplement your physical damage coverage policy. It provides cover for any loss or even a damage to the driver, properties kept in the truck and also equipment like traps, chains and any electronics not to mention the navigational devices. Bear in mind that some insurance policy compensates any kind of loss caused by a fuel spill.
MOTOR TRUCK CARGO COVERAGE
This semi truck insurance policy covers the goods on transit, if anything happens while transporting it, it will definitely cover all the shipment. That the main reason why the federal government insist that you should make a minimum payment of $5,000 for the cargo insurance, remember that the shipper will require you to carry numerous insurance cover.
BOBTAIL LIABILITY
This semi truck insurance covers your tractor if it happens that there is no trailer in tow. The best part is that the cover is effective even if you are driving the vehicle for personal or commercial purpose. It differs from other non trucking insurance policy.

NON TRUCKING LIABILITY
This semi truck insurance policy is mainly design for independent operators. When you lease your truck to another organization, they will give general liability coverage, but remember that this offer is only valid if and only if your truck is being driven for a business purpose. A non trucking policy cover you when you are not working but driving to or out of the job site or even if you are using the vehicle for some personal reasons.
OCCUPATIONAL ACCIDENT INSURANCE
This is a supplement to the workers compensation. It covers the driver and his family if he or she is injured while at work, it give them benefits for an accidental death and a dismemberment, all medical expense and an accident related injury, for both short and long term disability.
NON-OWNED TRAILER POLICY
This semi truck insurance policy provides compensation to a third party to whom you have caused damage to with your rig. This policy only covers the structure of the trailer but not the content in it. Apart from that it also covers the damages that may be incurred when the trailer is also hitched to the truck.

How much does Semi Truck Insurance Cost

There are several factors that effect your semi truck insurance cost making it cheaper for you, and getting you a better rate, this includes:

  • The number of commercial  trucks you need to insure
  • Your commercial  trucks size, age, model and condition
  • The experience and driving-record of anyone who will be operating the vehicle
  • Your annual coverage and routes you will cover
  • The types of loads you will haul
  • The types of coverage options you select
  • The amount of your deductible

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