How to Get Fast & Permitted Truck, Semi or Bobtail Insurance?

The insurance for commercial trucks is very important. Those who are experienced drivers know the complications that choosing insurance can bring. Even more so if you run a trucking company.

Insurance is an important annual expense, it can take a large part of the profitability of a company. For this reason, it is very important to understand the type of coverage that is needed, since having an accident will generate a significant expense.

There are several types of commercial truck insurance, some of these are:

• Civil Liability Insurance: Covers any damage to other parties involved in an incident.

• Physical Damage Insurance: Covers any damage to the truck due to various causes. The laws do not require physical damage coverage; however, having it is important as it covers the investment you have made in your truck. Covers a variety of incidents, from collisions, fire, theft, vandalism, hail, and wind.

• Cargo Insurance: The cost of damaged or stolen goods that are moved on your trailer.

• Reefer or Refrigeration System Insurance: Covers damage caused to the cargo inside your trailer due to engine failure of the refrigeration system. This coverage is crucial to have in the fruit and vegetable transport industry

• Bobtail Insurance: Covers when you are driving your tractor without the trailer, regardless of whether you are in service. Although not required, it is highly recommended for owner-operators who bring their trucks home when not on the road. As well as for owner operators who work under their own authority.

Whether it is bobtail or semi-bobtail, it is important that you get bobtail insurance quote one of the aforementioned insurances. They will be of great help, especially if you work on your own. Below we will mention some of the budgetary measures of each type of insurance mentioned.

Commercial truck insurance costs

If you choose more than one type of insurance because of the things you transport, the amount will add up little by little. For this reason, considering which ones you will acquire is important. On average, the insurance expense is:

• Primary Liability Insurance: $ 5,000 to $ 7,000

• Physical Damage: $ 2,000 to $ 3,000

• Cargo Insurance: $ 1000 deductible

• Reefer insurance: $ 2,500 deductible

• Bobtail: $ 350 to $ 400

You can total $ 7,350 to $ 10,400. One way to pay for this is to fund the payment for several months. In that case the insurer will add interest rate charges. If it turns out this way, the trucking insurance company will ask for an initial 10 to 20%. Another case is that they divide the payment into 12 equal parts.

These are some of the basic insurance coverage that you should consider purchasing if you wish to start your own trucking business in the United States of America, Canada, Europe or Australia are suitable;

General liability insurance

General liability insurance is insurance policy coverage that protects your business from a variety of claims, including bodily injury, property damage, personal injury, and other issues that may arise in the course of your business. It should be noted that some insurance companies combine general liability insurance with property insurance if you obtain a business owners policy (BOP).

General insurance covers a trucking company for delivering goods to the wrong place, workplace accident, unruly behavior by your truck drivers and other employees that can lead a customer to sue your business.

Keep in mind that some insurance companies would also require you to obtain a primary liability policy before you can be qualified for general liability. Again, if you are transporting hazardous materials, you may need to add a contamination endorsement.