Primary Auto Liability
Insurance is required by federal regulations. Every carrier must carry liability insurance on every rig even on leased units. Liability insurance protects you when a third party is injured in an accident. Federal requirements are $750,000 as a minimum limit, State requirements may vary.
Cargo Insurance
Covers damage/loss to freight in transit. This coverage can have many exclusions such as unattended vehicle, maximum theft limitations on target commodities such as garments, liquor, electronics and a whole host of others. It is veryimportant to read this policy closely in the event you think you may be covered for something and you are not..
Physical Damage
Insurance is coverage for your truck and trailer. Your premium is based on the value of your equipment. Usually a percentage of the value. This coverage is not required by law but if you finance your vehicle the lienholder will require it. It is important to insure your vehicle for the real value. Not over or under value the vehicle as the insurance company will only pay market value at the time of the loss.
General Liability
Insurance protects the business for any property damage or bodily injury that might occur which does not involve a truck. Typical examples of this would include the slip and fall exposure at your place of business, advertising related exposures, and/or contractual exposures you may get involved in.
Non-Trucking Liability
Insurance pays for an accident when the driver/truck is not under dispatch. The coverage is sometimes referred to as deadhead coverage or bobtail liability..
Non-Owned Trailer physical damage
Differs in that there is no written trailer interchange agreement. The coverage is provided only when the trailer is attached to your truck. Like truck physical damage insurance, this coverage needs an amount and a deductible to be selected.
Trailer-Interchange
Coverage protects a trailer you are pulling when there is a interchange agreement in force. For example with a steamship line.
Workers Compensation
Workers compensation laws and requirements vary by state, but generally, any business that has employees must have workers’ compensation insurance coverage. It helps cover medical care and lost wages for an employee who is hurt at work.