Trucking & Transportation

Manage risk for your company and your cargo

Many types of trucking and transportation businesses are operating in the United States every day, doing important tasks to keep our cities and society running smoothly. Trucks deliver goods and bring needed products to the population daily. Without them, many industries would fail to function.

Given the critical need for the trucking and transportation industry, it is imperative for transportation businesses to have the right commercial insurance in place to protect them. Transportation businesses face risks while their trucks are out on the road, when picking up and dropping off loads, and while fleets are in storage.

Coverage Breakdown

Trucking and transportation businesses need several types of insurance coverages:

• Commercial General Liability Insurance: Commercial general liability insurance is not specific to the trucking business, rather this is coverage any business owner can purchase. It protects your business from loss due to property damage or liability loss, not related to the use of your fleet.
• Physical Damage: Your physical damage coverage is important insurance for your property. It provides protection for your truck if it is damaged in an accident, either with another vehicle or a fixed object like a fence or sign.
• Auto Liability: Auto or truck liability insurance is required for trucking and transportation companies, and provides coverage for the carrier’s legal liability for accidents and losses.
• Motor Truck Cargo: Motor truck cargo coverage is insurance for the operator’s liability if the customer’s load is damaged while in transit. Typical coverage limits are $100,000, but review your needs to make sure this is adequate.
• Excess or Umbrella Insurance: Excess coverage extends underlying limits while umbrella coverage provides additional limits and some extra coverage for the policyholder. Catastrophic auto claims across the country generate awards over $50,000,000, thereby stressing the importance of excess.
• Non-Trucking Liability and Bobtail Coverage: This coverage applies when a driver is on their personal time and not under dispatch. Bobtailing is when a truck is being operated without a trailer attached.
• Workers’ Compensation: Workers’ Compensation is important coverage if you have employees. It protects them if they are injured and cannot work, and it protects your firm from lawsuits brought by injured workers.
• Occupational Accident Coverage: Occupational Accident coverage is a type of contingent liability insurance. The coverage is available for purchase by or for an owner-operator leased to a motor carrier. It can provide coverage for medical expenses, disability, and accidental death and dismemberment.
• Trailer Interchange Agreement: This is a contract for when a trailer is transferred from one trucker to another to complete a shipment.
• Cyber Risk and Privacy Insurance: If your trucking/transportation business has an online presence or does any business digitally, it could be at risk for a data breach or cyber-attack. It can be expensive to recover your data after an attack, and the loss of business and goodwill from impacted customers can cost time and money. Cyber and privacy insurance can help protect your company from these growing risks. 

Do not let an accident ground your fleet. We can provide expert review of your current trucking and transportation insurance coverage to help identify any gaps. We work with all the top carriers to place your coverage and find the best rate for your trucking and transportation business. Reach out today for help with your business needs.