Commercial Trucking Insurance Checklist
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Questions You Need To Ask Before Buying Commercial Truck Insurance
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Are you an owner/operator?
An owner/operator will require different insurance to ensure the entire business is protected from liability.
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Are you an independent contractor?
To ensure they are protected from responsibility, an independent contractor or someone who drives under their authority will require insurance plans that differ from those needed for an owner/operator.
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Do you know how many trucks and drivers you have working under you?
Many insurance companies will consider the number of trucks and drivers because the more trucks and drivers are on the road, the higher the risk of accidents.
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Do you have access to the driving records of your employees and yourself?
Keeping track of your and your workers’ driving records is critical. It informs insurance companies about your and your workers’ driving records. Your premiums could rise if you have personnel with a history of accidents.
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Do you know the make and model of the truck(s)?
Regarding your quote, the age and newness of the trucks under your care will be a decision element. Older trucks are more likely to break down on the road, and modern trucks may be more expensive to insure. You must tell your insurance company about this.
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Can you easily state what type of trucking business you operate?
This is usually self-evident. You undoubtedly know what business you run if you’re shopping for trucking insurance. If you own an auto body shop, you may not realize you require tow truck insurance. It’s critical to consider the trucks you utilize and how frequently you use them.
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Do you tow trucks?
Because tow vehicles and cargo trucks serve different purposes, they will require other policies.
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Do you haul cargo?
Cargo will require insurance. You don’t want to be held accountable for cargo damaged in an accident because your insurance coverage was incorrect.
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Do employees have access to trucks when they aren’t working?
Your firm will determine whether you or your workers use the truck after hours. However, they will not use the truck for non-business purposes in most circumstances. If you intend to use the truck for such purposes, you will need insurance covering it.
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Do you already have trucking insurance policies?
If you currently have an insurance policy, go over it and develop a list of the areas where you believe your company isn’t getting enough coverage. If you believe your costs are too high, checking around for more affordable truck coverage for your business will be beneficial.
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