The Basics of Commercial Truck Insurance: What You Need to Know

The Basics of Commercial Truck Insurance: What You Need to Know

Commercial truck insurance is a must if you own vehicles that are driven by your employees or are used to conduct the day-to-day operations of your business. There are different types of coverage that must be considered when purchasing commercial truck insurance. It’s important to identify as many areas of risk as possible to know what types of coverage are most important to you.

Basic Types of Coverage

The basic types of commercial truck coverage are similar to those that are offered for your personal vehicle. This normally includes collision coverage and various types of liability coverage for medical and property damage. Your commercial truck coverage must meet the state-mandated requirements if you plan on driving legally. Your insurer will be able to go over what the state-required minimums are and how much insurance you need to fully protect your business.

Specialized Types of Coverage

Specialized types of coverage ensure that you are covered no matter what type of scenario occurs. Cargo insurance is used to cover the cost of cargo that is lost or damaged. The type of business you have will determine what types of specialized coverage you may need to protect yourself from different types of loss.

Miscellaneous Coverage

Commercial truck insurance covers damages that aren’t related to the transportation of cargo. A good example of this is bobtail insurance. When you drive a truck without the trailer, it is known as “bobtailing.” You may also choose to purchase occupational accident insurance to protect yourself if something happens to you while you are working.

Commercial truck insurance is extremely important if you plan on managing a successful trucking business. Contacting our agents at Steve Wilk Insurance Agency is the best way to ensure that your business will survive a devastating loss in the event of an accident. Call and schedule an appointment today to get the answers you need. Our new office is located at 310 S Main Street, Suite C, Lombard, IL 60148.