Trucking is an honest way to make a living. The transportation of goods is always going to be in demand. To a business owner, the most important thing is to have everything run smoothly. Unfortunately, that isn’t always the case. Trucks get damaged all the time. Sometimes they’re beyond repair when they do. For those who have insurance, this isn’t a major calamity. Insurance protects the business owner, while also protecting his employees from disasters that may be a-foot.
Motor vehicle coverage isn’t only the right thing to do. It’s also required if you want to have a trucking business. The FMCSA mandates that every truck come with this basic, liability insurance. This helps to protect the public against what a four-wheeler can do. Four wheelers can damage cars to the point of being totaled. Insurance ensures that the totaled car will be replaced.
A lot of small business owners also decide to get physical damage coverage for their truck. This type of coverage grapples with the cost of replacing a truck that’s been damaged by fire, vandalism and the weather. It also covers theft. Few think of the harm that can come to their vehicle. Losing it in an accident isn’t the only way to lose it. It can also be damaged while in “park”.
You should have the truck’s cargo insured as well. The cargo carried in the back of the truck may be of high value. Some trucks carry cargo valued to be around 100,000 dollars. It’s a big hit to the business if something happens to it. That’s why many choose to get cargo insurance. It can be purchased along with other coverage for the truck.
What’s The Most Important Type Of Coverage?
Auto liability’s the most important kind of coverage. Without it, you would not be operating your truck legally. Plus, your truck would become a danger to the public. Auto liability protects those who come in contact with your business while it’s on the road. Sixteen wheeler accidents are common. While they can’t always be prevented, an insurance company can dampen the blow when it does.
Cargo liability is also extremely important. The whole point of the business is to transport the cargo. When that cargo is damaged, the business has failed to perform the task it was designed to do to make a profit. Cargo liability takes the sting out of the situation by replacing the value of the cargo. That way, the least amount of money was lost.
You Need Trucking Business Insurance
“Trucking is a riskier business than people think.”, said an agent from Augustedge Insurance. When your entire business depends on keeping and maintaining a working truck and transporting cargo efficiently, there can be a lot of risks involved. Some of which will happen no matter how careful you are. Thankfully, they can be accounted for through trucking insurance. To run a business properly, you’re going to need it. Keeping insurance is also the right thing to do. It protects your community.