If you own a company that operates a fleet of commercial vehicles, you likely understand how important it is that all of your semis or other large trucks remain in good condition. If one of your trucks is badly damaged, your bottom line could feel a significant impact as well. While you probably already have at least basic insurance to keep your trucks legal while out on the road, there might be more you could be doing to protect your commercial trucks and your business. Here are three types of commercial truck insurance you should consider.
Comprehensive or Physical Damage
Different insurance companies might call this type of insurance different things, but this is coverage for something that happens to your truck while you are not actively driving it. Common sources of this kind of damage could include a fire, a hail storm, or damage from a theft attempt such as a broken window or windshield.
Cargo Insurance
Most basic commercial trucking policies cover damage to the vehicle itself and usually don't cover whatever it is that you are hauling at the time of the accident. This is where cargo insurance comes in. If you are frequently hauling expensive items, you could be in a world of hurt if an accident causes significant damage to your cargo. Even if it's not your own cargo and you are hauling someone else's merchandise, you might still want insurance. That's because the owner of the cargo might try holding you responsible for the loss.
Bobtail Insurance
Did you know that your basic insurance policy might only cover your 18-wheeler when there is a trailer attached? Insurance companies offer something called "bobtail" or "deadhead" insurance, which will cover the actual cabin part of the vehicle if you ever take it out on the road without a trailer attached. If you frequently travel with just the bobtail section of the truck while on your way to a service appointment or to pick up a new load, make sure you will be covered if something goes wrong.
One bad accident in a commercial truck, and you could end up paying dearly to replace your vehicles or lost cargo. If you want all of your drivers to head out to the highway with the utmost confidence, double check your current commercial truck insurance to make sure it covers all of the bases. Contact a local insurance provider if it's time for an update.
