Truckers’ general liability insurance is a safeguard designed to offer financial protection in cases where you are responsible for causing damage to another’s property or inflicting an injury. This crucial coverage is instrumental in mitigating expenses such as property repairs, medical costs, and legal fees if a lawsuit starts against you. For instance, envision a situation where you mistakenly deliver your cargo to the wrong destination or an accident occurs during the unloading process, resulting in injury. Your policy would intervene in such cases, covering the incurred medical expenses.
While not legally mandated, business owners should be vigilant about scenarios where stakeholders like shippers, brokers, clients, or lessors might require this common form of coverage. Even if not explicitly mandated by your company, having general liability insurance is a prudent and proactive measure to ensure financial protection and mitigate potential risks.
What Does it Cover and Why Get Liability?
In most instances, general liability insurance tailored for truckers covers bodily injury and property damage, which implies that if you were to engage in an accident resulting in harm to someone or damage to their property, your policy would assist in covering their medical expenses. Furthermore, it extends coverage to handle the legal fees incurred due to the accident, which can be considerably expensive. Commercial truck insurance takes additional steps to safeguard your trailer, offering protection against physical damage, upset, fire, theft, or vandalism. Loading, unloading, and transit coverage are also available to protect your cargo from potential harm while it is under your responsibility.
So, why is general liability insurance vital for truckers? Put simply, it functions as a financial safety net in unforeseen circumstances. For trucking companies, if one of your drivers is involved in an accident, general liability insurance covers the legal costs associated with ensuing lawsuits. It also deals with expenses related to any property damage caused by your driver. Public liability insurance is a vital protective measure for you and your business, shielding against potential financial consequences from accidents or other incidents.
Coverage Options
At The Daniel & Henry Company, our expertise lies in offering insurance solutions that bring both comprehensiveness and cost-effectiveness to the forefront. Our dedicated team assesses your requirements and assists you in tailoring a trucking liability insurance policy by considering a range of coverage options. These options encompass:
- Commercial auto liability insurance
- General liability insurance
- Hired and non-owned auto liability insurance
- Physical damage coverage (alternatively known as comprehensive and collision coverage)
- Uninsured motorist coverage
- Roadside assistance coverage
- Rental reimbursement
- We specialize in providing value-added insurance solutions, ensuring your coverage is extensive and budget-friendly.
In order to obtain the necessary operating authority from the Federal Motor Carrier Safety Administration (FMCSA), it is imperative to possess evidence of auto liability coverage. Many states additionally impose insurance filing prerequisites. To acquaint yourself with the precise specifications for trucking liability insurance, you may refer to this summary of insurance requirements offered by the FMCSA. Alternatively, you can reach out to the experienced insurance experts at The Daniel & Henry Company for guidance. Contact us for more information, or get a quote online today!
