Affordable Truck insurance from right stop insurance

Here is how commercial truck insurance works

With the impact of the accident of a commercial truck being enormous, protecting the truck, the cargo, the driver and the third parties against any damages is inevitable for securing the financial stability of the business houses running these vehicles. The threats can take the form of accidents, vandalism, theft and much more. Depending on the risk imposed by the cargo and the truck, the selection of the insurance need to be finalized.

Today there are numerous varieties of commercial truck insurance schemes that cover flatbed trucks, dump trucks, box trucks, tanker trucks, tractor trucks, refrigerated trucks, and other commercial trucks. They include auto liability, general liability, non-trucking or the bobtail liability, physical damage, trailer interchange, motor truck cargo and workers compensation insurance.

Major types of commercial truck insurance

Some of the major types of commercial truck insurances are:

1 Primary liability truck insurance

The umbrella of the primary liability commercial insurance extends over the damage or injury to the third parties in the event of an accident. Every commercial truck needs to be insured under the primary liability if it is to be taken on the road according to the federal laws, the proof of which needs to be sent to the officials for verification. The primary liability insurance coverage amount can extend from $35,000 to $1,000,000. The location, the driving history of the driver, the past records of the company, all has a voice in the definition of the insurance amount.

2 Motor truck cargo insurance

Depending on the trucker’s liability to the damages to the cargo in the event of a mishap as defined by the bill of lading, the value of motor truck cargo insurance varies. It secures the company from the losses that can incur from any damage, destruction or other loss to the shippers’ property. While some shippers go for an insurance that covers the trucks specified in the deal, others go for a blanket coverage protecting all the trucks in the fleet.

3 Bobtail insurance

It shields against any damage caused when the truck is not put to commercial use, like when it is in the garage or in the repair shop. When the truck is run without the trailer, irrespective of whether it has been dispatched by the carrier, it is covered by the bobtail insurance.

4 Workers’ compensation

This provides adequate security to the lives of the workers from any injury in the event of an accident. The cargo involved, company’s policies and the laws of the state define the policy amount.

The insurance policies are numerous; but the proper selection is inevitable to reap maximum advantage of it.

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