Many people use trucks for their business operations, and they need extensive insurance coverage for those trucks. But what commercial truck insurance policies do you really need? At Los Angeles Truck Insurance, our goal is to get you the policies you need and no more. Every industry and type of truck is different, which is why we have so many dedicated insurance packages. However, they all include these policies to keep your commercial truck safe.
Auto Liability Insurance
Auto liability insurance is a legal requirement. The Federal Motor Carrier Safety Administration (FMCSA) requires all commercial vehicles to carry this policy. Liability insurance pays out when you are liable for damages that you cause to someone else or their vehicle. Therefore, this policy helps protect everyone else from your truck. Trucks can cause devastating damage to other vehicles, and if you don’t have this policy, then you could wind up being sued by someone that you hit in a collision. Accidents happen, and liability insurance protects everyone involved from more significant damage to their lives.
Businesses don’t just use trucks because they’re fun to drive. From garbage trucks to box trucks, trucks are used primarily because of their hauling capacity. That means that protecting what you haul is incredibly important. With cargo insurance, your livelihood gets the protection that it sorely needs. If you don’t get cargo insurance, then an accident may not destroy your vehicle, but it could leave you on the hook for everything that you’ve been tasked with hauling. That bill could be disastrous! So, we recommend getting cargo insurance for all commercial trucks.
Physical damage insurance shores up the gaps left by auto liability insurance. If you read the section on auto liability and thought, “But what happens to my vehicle?”, then you’re ready to talk about physical damage insurance. Yes, other drivers will have liability insurance as required by law. However, not all liability insurance policies would be capable of paying for a commercial truck. These vehicles are large, specialized, and often expensive. Repairing or even replacing these vehicles will be expensive. And, if you’re at fault, the other person’s insurance won’t pay for a thing, leaving you entirely on the hook! Physical damage insurance covers the physical damage done to your vehicle, regardless of who’s at fault. If you want to protect your vehicle no matter what the circumstances of an accident are, then physical damage is the policy for you.