02 May Commercial Trucking Insurance
COMMERCIAL TRUCKING INSURANCE
As a private carrier, you are responsible for hauling goods in your own truck for your company or employer. Whether you’re working in construction, excavation, manufacturing, or any other private carrier capacity, we have truck insurance solutions for you.
Primary Liability – Every trucker/trucking company who operates under their own authority is required to carry primary liability coverage on all owned units. In addition, trucker/trucking companies must also either provide this insurance for their leased vehicles or require that the leased operator carries it on their own truck. Generally, the motor carrier provides this coverage for the leased operators, but there are rare instances when this is not the case.
Cargo Insurance – Provides coverage for loss or damage to the property a truck is transporting (the load). Generally, though not always, this coverage is provided by the motor carrier for leased operators.
Physical Damage (Collision, Specified Perils) – Provides coverage for repair or replacement for damage resulting from a covered loss (collision, fire, theft, hail, windstorm, earthquake, flood, mischief, or vandalism) to owned vehicles.
Occupational Accident – Product designed specifically for owner operators in the trucking industry. In most states, by being self-employed, owner operators can opt out of state mandated workers’ compensation coverage. While not the same as workers compensation, OCC/ACC is similar in scope and intent. Most motor carriers require their leased operators to be covered either by workers compensation or OCC/ACC at the leased operator’s expense. For those who qualify, OCC/ACC is generally a lower cost alternative.