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HOW DO INSURANCE COMPANIES RATE?

Your insurance premium is based on a few factors: years in business, loss history, accidents and drivers’ experience as well as your company SAFER scores. Insurance isn’t simple for a multitude of reasons—consider hidden pitfalls as well. Always request a copy of your signed applications and policy declarations for future reference.

TRUCKING COVERAGES

Auto Liability

When another party is injured or their property is damaged in an accident and you’re at fault for it, this is the coverage you’re going to need.

Physical Damage

What about if your tractor or trailer is stolen or damaged? You’re going to need this type of protection. Specified Perils is not as expensive as Comprehensive and Collision.

Motor Truck Cargo

When a property is being transported by you, you’re going to need coverage for it. Specific types of cargo are vital to specify. “General Freights” is an insufficient and misleading term. Coverage for Targeted Commodities like electronics, garments, and liquors require an additional premium—however coverage for those things is also optional.

Non-Owned & Hired Auto

This coverage is needed when there’s bodily injury or property damage caused by a vehicle you hired but is not scheduled on your policy.

Non-Owned Trailer Physical Damage

If a trailer is physically damaged that you do not own, this specific type of coverage takes care of that.

Trailer Interchange

If there’s a written Interchange Agreement that exists between you and the shipper, you’ll need extra coverage for that. UIIA as well as Freight Brokers like JB Hunt and Landstar require this coverage.

General Liability

This coverage protects you from a variety of claims including bodily injury, property damage, personal injury, and others that can arise from typical business operations.

Warehouse Legal Liability

This policy covers your legal liability as to the warehouse owner with regard to failure to exercise due care in order to prevent a loss.

Workers Compensation

This coverage is required by California Law because it effectively provides compensation for your employees if they are injured during an unexpected accident at work.

Occupational Accident

This is a particular policy designed to offer benefits to independent Owner Operators and employees who are not covered under a general workers compensation policy.

Bobtail Insurance

You’re not always going to be hauling something, but that doesn’t mean you shouldn’t have extensive coverage. Bobtail insurance covers you and your semi-truck when you’re not hauling a trailer or another load.

Non-Trucking Liability

What happens when you’re using a work truck while not working? Non-trucking liability insurance protects you from liability in any accidents that occur while you’re using your semi-truck for personal use.