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    Home»Zero2Turbo»I Am Starting My Trucking Business. What Coverages Do I Need?
    Zero2Turbo

    I Am Starting My Trucking Business. What Coverages Do I Need?

    By Zero2TurboApril 2, 2022Updated:July 3, 2023No Comments
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    Despite the time and energy required, starting a new business is a very unique and fascinating experience. Every aspect counts throughout the construction of your dream business to ensure the project’s success, and an essential item that holds everything together is the safety measures.

    Your trucking company’s safety is dependent on the coverages you select, and in this manner, you can keep your drivers and vehicles safe while also keeping your clients satisfied. Support firms take away the responsibilities of picking and implementing various coverages to free you up to focus on growing your business. You can read more about how they do it if you click here.

    Whether you’re a new owner-operator or a seasoned long-haul trucker, you’ll need excellent truck insurance coverage, all of which are listed below. 

    Primary Auto Liability

    This is the most important type of coverage since federal regulations require it. Commercial auto insurance is necessary for all of your trucks even leased vehicles. When a third person is hurt due to an accident, liability insurance will cover you.

    General Liability

    General liability insurance is required in every state. It provides you with insurance if one of your drivers causes property or bodily harm as a result of a collision. It covers a driver’s conduct when on someone else’s property, such as at truck stops or loading docks. It also involves errors in load delivery.

    Physical Damage 

    Physical Damage Insurance means that your truck is covered in the event of a collision, fire, theft, or vandalism. If your vehicle is destroyed beyond repair, this coverage will pay to replace it. The premiums will be determined by the cost of the truck and equipment. Physical damage coverage is essentially a collection of truck insurance. Collision, as well as Comprehensive Insurance Coverage, are included.

    Truck Cargo Insurance

    Truck Cargo insurance protects truck drivers, owner operators, and for-hire truckers against liability for cargo lost or destroyed due to a loss such as fire, collision, and other events. 

    Non-trucking Liability

    Also known as Bobtail coverage, Non-trucking Liability provides coverage for situations where the truck driver is off dispatch or using the truck for personal reasons. Bobtail coverage will kick in in any scenario when the main liability policy doesn’t protect the owner-operator. However, bobtail insurance does not cover truck drivers towing a trailer, operating a truck for profit, or working for a trucking firm.

    Trailer Interchange Liability

    Physical Damage insurance for trailers being moved under a trailer interchange agreement is provided by Trailer Interchange insurance. This is essentially physical damage insurance for trailers that are not owned. This insurance will cover you if the trailer is destroyed by collision, fire, theft, explosion, or vandalism. 

    Mechanical Breakdown Coverage

    Mechanical breakdown insurance addresses significant failures in your vehicle that are often not covered by standard auto insurance. Mechanical breakdown insurance covers any significant vehicle system breakdown, whether faulty brakes, transmission problems, electrical issues, or other major vehicle system malfunctions.

    Medical Payment 

    Medical payments coverage is an additional feature of a vehicle insurance policy that pays for expenditures made due to a car accident. It covers you, any passengers in your car, and any pedestrians you may damage. It’s also known as “MedPay.” This is another critical coverage you will need when starting your own trucking business.

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