What Are the Benefits of Commercial Truck Insurance?

Commercial truck insurance protects you from financial loss due to theft, damage, or injuries attributed to your truck. When you obtain a commercial truck insurance policy, you get more than just damage and liability. You are essentially protecting the truck itself, its cargo, and the driver from injuries in the event of an accident.

Most truck accidents occur due to driver fatigue after driving for long distances nonstop. According to the Insurance Institute for Highway Safety, truck drivers who go for more than eight hours behind the wheel double their likelihood of crashing.

Protection for Your Assets

Commercial truck insurance covers your truck and business assets from the effects of vehicle accidents or other incidents. It is paramount to have commercial truck insurance if you own trucks. Because of the size and cost of these massive vehicles, the claims offered for them are typically more than they would be for a standard company car.

Protection Against Liability

Parties could sue your business for thousands or even millions of dollars following an accident involving your vehicle. The cost of defending against these lawsuits can be staggering. Commercial truck insurance can help protect your business from lawsuits and liability. It also covers the costs associated with defending against such claims.

Cargo Coverage

Commercial truck insurance covers the cargo in transit against breakage or loss due to theft, fire, or natural disasters like floods and storm damage. These occurrences can be unavoidable and are covered as such. Cargo coverage also includes liability coverage for damages caused by your freight carriers.

Cost Savings

Commercial truck insurance can help you save out-of-pocket payments for damages in the event of an accident. For example, if your employee gets into an accident while driving to work and causes property damage or bodily injury, you will not spend any money from your budget. Instead, insurance will protect your business from financial loss to accommodate the accident.

You may be eligible for premium discounts if you obtain commercial truck insurance for your vehicles through one provider. It also applies if you have taken measures to reduce the likelihood of accidents. For example, having safety features like anti-lock brakes or electronic stability control installed on your vehicle could qualify you for discounts on premiums.

Rider Benefits

The coverage is flexible and meets the needs of almost any business. For example, you can choose to add collision coverage and comprehensive coverage. You can also include legal defense protection in the policy.

Commercial truck insurance provides tailored coverage to meet your needs. If your business owns assets that you wish to insure, you can use our insurance providers to obtain a policy that fits your needs. Contact us today for more information.