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A Comprehensive Guide to Truck Insurance

 Insuring Your Trucking Business: A Comprehensive Guide to Truck Insurance

A Comprehensive Guide to Truck Insurance

Truck insurance is a broad category of commercial vehicle insurance. It is comprised of several coverage types that are specific to the trucking industry, along with broader types of coverage common to commercial vehicles (e.g., fire and theft, emergency road service).

 Understanding the basics of this type of insurance can help you choose the best policy for your business and protect your business from unnecessary expenses or even failure due to damage or theft.


To give you an overview of truck insurance, here are some commonly used terms you’ll encounter as you research policies and agents

What Is Truck Insurance?

If you are a business owner, it is your duty to ensure that your company has proper insurance coverage in place.

 Unfortunately, many small business owners do not know what insurance options are available to them or which options would be most beneficial for their particular situation. One type of car insurance that every business should consider is truck insurance. 

  • What exactly is truck insurance? 
  • Why does a small business need it? 
  • What types of commercial vehicles can be insured? 
  • Who needs truck insurance? How much does it cost?


To answer these questions and more, read on for an informative guide about truck insurance.

Why Do I Need Commercial Truck Insurance?

There are a few different reasons why it's important for trucking companies to have commercial insurance coverage. 

  • First, it provides protection against liability claims if you were involved in an accident that led to damage or injury. 
  • Second, if your company is sued and ends up losing, having commercial insurance can help pay legal costs and damages that could otherwise cripple your business.
  •  Finally, some businesses will require you have commercial truck insurance before they'll work with you (if you're a smaller company), meaning it's not just about protecting yourself but also about protecting your business' reputation. 

How Much Does it Cost?

One of your most important concerns as a business owner is how much money you will need to get started and keep it running. Truck insurance is no different. 

The cost depends on many factors including:

  •  where do you live? 
  • what type of truck you are insuring?
  •  what coverage options are included in your policy?


If you’re looking for a quote for your commercial vehicle, start with our truck insurance cost calculator today. It will help you determine exactly how much the truck insurance quote is based on your personal information.

A-List of Truck Insurance Coverage Types: Like any other type of insurance, there are several coverage types that can be included in a trucking business policy. You can add or remove each one depending on what works best for your company.

What Are Some Common Questions About Commercial Truck Insurance?

Commercial truck insurance is a broad category of commercial vehicle insurance. It is comprised of several coverage types that are specific to the trucking industry, along with a few that are fairly universal. 

These include  liability:

  •  property damage.
  • collision and comprehensive coverage (which covers physical damage).
  •  commercial auto liability coverage.
  • workers compensation.
  • and other coverages. 

The value of these policies varies by state and covers things like bodily injury and property damage as well as truck repairs after an accident. 

Once you have your box truck insured (or semi-truck or tractor-trailer), there are some questions you should ask your agent about any commercial auto policy you may be considering.

What Does Uninsured Motorist Coverage Cover?

Uninsured motorist coverage protects you if an at-fault driver injures you or damages your property, but does not have insurance. 

This coverage will typically reimburse you for medical expenses and lost wages up to a certain amount.

 It will also cover damage caused by uninsured vehicles in some states.

 If a police report is filed on time and it shows that there was no insurance on an at-fault driver, uninsured motorist coverage can pay for repairs. 

However, most people only carry enough uninsured motorist coverage to cover their own liability so they cannot collect from their own insurer if they are responsible for a collision without insurance.


How Much Liability Coverage Do I Need?

Liability coverage, of course, is one of three insurance components required by law for commercial truck drivers.

 The other two are personal injury protection and medical payments coverage. Liability protects you in case your negligence causes damage or injury to others. 

Liability will help pay for injuries and damages if your actions result in bodily harm or property damage.

 If a customer slips on the ice at your business and files a lawsuit against you, liability would cover any damages that might be awarded as a result of that lawsuit (assuming no other insurance was available). 

When choosing liability limits, ask yourself how much money you would need to come up with if someone sued you for an accident caused by your business.

Which Additional Covered Perils Should I Add to My Policy?

Commercially insured drivers of trucks, tractors and other commercial vehicles face a variety of perils every day—from tire-kickers to malicious mischief. To protect your business from these liabilities, you should invest in one of three types of coverage options:

  •  comprehensive truck insurance.
  •  physical damage insurance.
  •  or combined coverage.


Our guide will help you make that choice! How Much Does Comprehensive Truck Insurance Cost?: The cost of comprehensive truck insurance is based on several factors, including (but not limited to)

  •  the value of your vehicle(s)
  •  annual mileage
  • cargo transported
  •  policy limits
  •  deductible amount(s)


Comprehensive insurance is more expensive than physical damage insurance but protects against most losses outside of accidents involving another vehicle (e.g., fire, theft). 

Because comprehensive truck policies are customized for each individual client’s needs and risk profile, it’s important to understand what factors impact pricing so you can select an appropriate plan for your business.

 Here are some common questions about comprehensive truck insurance costs:

  •  How much does comprehensive truck insurance cost?
  •  What is my annual premium?
  •  Do I need to purchase a collision with my policy?

No-Fault Auto Medical Payments Coverage Should Be Part of My Commercial Liability Policy Too!

If you own a commercial vehicle and plan on driving it on public roads, you’ll need commercial auto insurance.

 One of many coverage types included in a typical commercial auto policy is called Medical Payments Coverage.

 You might think that your personal automobile insurance policy already includes medical payments coverage (it probably does), but it won’t if you use your vehicle for business purposes. 

To be safe, always opt for no-fault medical payments coverage when buying a commercial auto policy.

 It will protect you from liability if someone gets injured while riding in or around your truck or van.

Is There An Easier Way To Get Commercial Truck Insurance Quotes?

Whether you are looking for commercial semi-truck insurance or box truck insurance, consider an independent agent that specializes in commercial vehicle insurance.

 These agents can provide a variety of truck-specific coverage options, including cargo insurance and specialized equipment coverage such as against loss from weather or damage from an accident. 

When considering which company will protect your business' valuable freight and logistics, a knowledgeable independent agent can help you get all your questions answered quickly so you can make an informed decision about what's best for your business.