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Commercial truck insurance: full-fleshed guide


Do you own Commercial Trucks? Then you must be worried off their security if they are not insured yet. Right? Here is a Commercial truck insurance full-fleshed guide for you. The cost indulges in the process and what all the formalities you need to fulfill. No matter how many trucks you have, the truck insurance protects you, your vehicle and your business from any disaster.

Commercial truck insurance
Everything you need to know about commercial vehicle insurance

What’s Commercial Truck Insurance?

Commercial truck insurance is a special type of insurance policy that covers all trucking needs and escapes you from paying Expensive Bills that may drain out all your money and business. If you drive a personal car or truck, you probably already know that you need some form of car insurance to legally stay on the road. Commercial truck insurance includes circumstances in which you utilize your truck for transporting customers, animals, materials or products.

Difference between regular vehicle insurance and Commercial truck Insurance

  1. Commercial Insurance is costlier than Regular insurance
  2. Commercial truck insurance has more benefits than the regular one.
  3. Commercial policies may cover either named employees or blanket coverage for all of your employees. This is different than standard personal policies, which require you to name all of your insured drivers.
  4. Commercial truck insurance incorporates structures and fixtures that aren’t included in the standard insurance policy.

What more is included in commercial Turck Insurance?

  • Non-trucking insurance- It means you are using your commercial Truck for personal use then it’s insurance is automatically covered if you have opted for commercial truck insurance.
  • Motor truck cargo insurance- It covers the value of the material you carry in your tuck. If the truck met by an accident, then the cost of all the material inside the truck will be reimbursable.
  • Rental reimbursement insurance- If your all income depends only on the truck and if truck met by an accident then it covers days or weeks of lost income. Rental reimbursement coverage grants you with money to rent a replacement truck while the carrier is being repaired.

Commercial truck insurance usually doesn’t cover:

  • Intentionally-caused damage- It very much visible if the damage is caused intentionally or its a genuine one. So if someone has damaged the truck by their own in order to get insurance money then he will get no money.
  • Personal items- The damage to personal items loaded in the truck is not covered under the insurance policy.

How much does it affect your pocket?

As we have already talked, Commercial Truck Insurance is significantly more expensive than regular insurance. but why? Because of their Higher policy limits, specific license laws, cumbersome truck bodies, and huge weights. The average cost lies between $9,000 and $15,000 per year for insurance. The cost depends upon factors like:

  • How old your truck is
  • Driving experience
  • Age
  • Gender
  • Credit Score
  • Average Length Trips
  • Where you drive
  • Cost of Truck

Is Commercial Truck insurance is necessary with 1 truck only?

If you owe only one truck and which you can use for both personal and commercial purpose then you may not need a commercial Turck Insurance. However, it is purely dependent on you, whether you to be more secure according to the risk associated with your vehicle. Before you go for a commercial policy, analyze the following factors.

  1. If you need a Commercial Driver License to drive the truck then you have to take commercial insurance.
  2. If you use your truck to carry customer’s materials, products, or equipment, you need a commercial policy.
  3. If your truck is heavy weighted with 10,000 pounds or has a load capacity of over 2,000 pounds, Commercial Insurance is needed.
  4. If your truck has a special correction like a ladder rack or a cement mixer, you definitely need Commercial Insurance.

How to Get Commercial Truck Insurance

It’s not a roller coaster ride to get a Commercial Insurance for your vehicle. The process is very similar to get insurance for a personal vehicle. Following are the steps for guidance.

  1. First of all, do detailed research of the insurance companies and their certifications.
  2. Then Ask for quotes from all the companies. A quote will give you an estimate of how much you have to pay(monthly/yearly premiums)
  3. Read and Compare Policy options thoroughly.
  4. Finally, contact the insurance company and do all the formalities.

Final Take…

Hey friends, This is all about Commercial Truck insurance. So, decide fairly onto choosing for commercial truck insurance. You can take your business to newer heights by choosing the right insurance plan. I hope you like the article. Mention your feedback in the comments section.

Thank you!!

About the author

priyanka mittal

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