First things first, it’s helpful to understand the coverage you’ll need for your new trucking operation. Here are the common ones:
Truckers General Liability Coverage — This covers the actions of a driver who is operating on someone else’s premises, such as loading docks and truck stops, and also covers mistakes in the delivery of the driver’s load.
Primary Liability Coverage — This does not cover your truck, but rather covers the damage you may do to others while operating your truck.
Physical Damage Coverage — Provides coverage to repair or replace damage to your equipment in the event of an accident or theft.
Non-Trucking Liability Coverage — Coverage for damages or injuries to others while the truck is not under dispatch from the company you are currently leased on with.
Motor Truck Cargo Coverage — When protecting your cargo, make sure your insurance covers you no matter the risk — stolen goods, wet load, refrigeration breakdown, debris removal, etc. It’s very important to have a cargo policy that is Broad Form and not Specified Perils (more on that later).
Trailer Interchange — Covers a non-owned trailer being used under a trailer interchange agreement.
Medical Payment — This covers medical bills if you or a passenger is injured while driving or riding in the tractor (this coverage varies from state to state).
Uninsured/Under-insured Motorists — This coverage protects you if someone hits you and does not have liability coverage to repair whatever you need repaired.