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May 8, 2023

The American Trucking Association reports that over 72% of all freight tonnage moved in the U.S. relies on trucks. With such a vital role to play, it's crucial for these companies to protect themselves from financial risks associated with accidents, property damage, or cargo loss. But what types of insurance do long-haul trucking companies require to ensure their protection?

In this article, we'll explore the various insurance types that are essential for these businesses. Read on to learn how the right insurance coverage can save your trucking business time, money, and headaches, allowing you to focus on what you do best.

Motor Truck Cargo Insurance

Long-haul drivers need special insurance called motor truck cargo insurance. This insurance helps protect the trucking company when they carry goods in their trucks.

Sometimes, things can go wrong, and the goods can get damaged or lost. Motor truck cargo insurance makes sure the trucking business does not have to pay for damaged or lost goods.

Commercial Property Insurance

Trucking companies also need commercial property insurance. This insurance protects the things the company owns or uses, like buildings, equipment, and inventory.

We all know anything can happen to a trucking business's property. This insurance helps the company fix or replace their property if it gets damaged or lost. By having this insurance, the trucking company can keep working even when something goes wrong with their property.

Rental Reimbursement with Downtime

Sometimes, your trucks can't be used because they need repairs or have been in an accident. When this happens, you may need to rent other trucks to keep working. Rental reimbursement with downtime insurance helps pay for these rental trucks.

Trailer Interchange/Non-owned Trailer Insurance

Long-haul trucking companies sometimes use trailers they don't own to carry goods. When this happens, they need trailer interchange or non-owned trailer insurance.

This insurance helps the trucking company if something happens to the trailer they're using. If the trailer gets damaged or is in an accident, this insurance pays for the repairs or replacement.

Physical Damage Coverage

Physical damage coverage is another important insurance for long-haul trucking companies. This insurance helps fix or replace the truck or trailer if something bad happens to it. There are three main types of physical damage coverage:

  • Collision
  • Comprehensive
  • Specified perils coverage

Collision coverage helps when the truck or trailer is in an accident. Comprehensive coverage helps when the truck or trailer is damaged by things like theft or vandalism. Specified perils coverage is used for certain types of heavy trucks and helps when specific bad things happen, like a fire or flood.

Accidents and damage can happen anytime in the trucking industry. That’s why physical damage coverage is so important for a trucking company. This commercial insurance makes sure you can keep working even when your truck or trailer is damaged. With this insurance, you can stay on the road and keep moving goods.

Fleet Programs

Long-haul trucking companies often have many trucks and drivers. These companies need special insurance called fleet programs. Fleet programs are made just for trucking companies with lots of trucks.

This insurance helps the company by giving them the right coverage for all their trucks and drivers. The trucking business can feel safer knowing that their whole fleet's protected.

Safety Programs

Safety is very important for long-haul drivers and trucking companies. When companies have good safety programs, they can pay less for insurance.

Trucking businesses can work with insurance agents to make their safety programs better. These programs help the company and its drivers stay safe on the road.

Workers' Compensation

Trucking companies need to make sure their workers are taken care of if they get hurt or sick on the job. Workers' compensation insurance helps with this. This insurance pays for medical bills and lost wages when a worker gets hurt or sick because of their job.

It’s important for long-haul trucking companies to have this insurance. By having workers' compensation, the trucking business can make sure their workers are protected and get the help they need.

Liability Insurance

There are many types of liability insurance that a long-haul trucking company needs. These insurances help protect the company when something goes wrong, and a third party is hurt or their property is damaged.

Trucking Auto Liability Insurance

Trucking auto liability insurance helps when a truck is in an accident that hurts someone or damages their property. This insurance pays for the other person's medical bills or property damage. It’s important for the trucking business to have this insurance to stay protected.

Motor Truck General Liability Insurance

Motor truck general liability insurance helps when someone is hurt or their property’s damaged because of the company's work. This insurance covers things that happen when the truck is not being driven, like loading or unloading the truck.

Pollution Liability Insurance

Pollution liability insurance helps the trucking company when their truck causes pollution. This can happen if the truck leaks fuel or other chemicals. The insurance pays for the clean-up and any damage caused by the pollution.

Non-Trucking Liability (Deadhead/Bobtail) Insurance

Non-trucking liability insurance helps when a truck is being driven without a trailer or cargo. This insurance covers the company if the truck is in an accident during this time. You may need this insurance to make sure you're protected, even when your truck is not carrying cargo.

Umbrella and Excess Liability Insurance

Umbrella insurance and excess liability insurance give the trucking company extra protection. This insurance helps when the costs of an accident or damage exceed the limits of the underlying policy.

Professional Liability Insurance

Professional liability insurance helps trucking companies when they make a mistake or don’t do their job correctly. This insurance pays for any damage or problems caused by the company's mistakes.

The Perfect Insurance Partner for Your Long Haul Trucking Business

It's evident that long-haul trucking companies need a wide range of insurance types to safeguard operations. Proper insurance coverage not only provides financial protection but also offers peace of mind. This allows trucking companies to concentrate on their core business.

As experts in trucking insurance, we understand the unique needs of your long-haul trucking business and can help you find the best coverage to protect your assets and ensure your success. Don't leave your trucking business vulnerable to potential risks. Contact us today to learn how our tailored insurance solutions can secure your long-haul trucking company's future.

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