All commercial trucks are not created equal — and neither are commercial insurance policies. Matching the right class of truck with the right policy is necessary to ensure you have adequate coverage and reduced risk. 

Come with us as we explore the unique opportunities available for insuring specialized trucks. 

The Importance of Having the Right Insurance Coverage

There are two significant reasons for investing in commercial truck insurance —- to ensure you comply with federal and state laws and to protect yourself financially from accidents, damages, and injuries caused unexpectedly in the course of business. 

When trucking is your business in any form, you need to make sure you are doing everything by the book. And that means following the safety regulations put in place by the government. Know the laws in your area and for your routes so that you can always be in compliance. 

As for financial protection — it only takes a split second for things to go wrong either on or off the roadway. Injuries to drivers, passengers, or pedestrians as well as damage to property or cargo can lead to exorbitant costs. The right insurance will reduce your risk and your burden in these situations. 

Different Truck Types

Commercial trucks can be ranked differently. Below is a general overview.  

• Light-duty commercial vehicles include regular trucks, vans, or SUVs used for running a business
• Medium-duty commercial vehicles are tow trucks, box trucks, dump trucks, and small buses also used in the course of business
• Heavy-duty commercial vehicles include semi-trucks, tractor-trailers, or any large or long-haul truck used for transporting goods. 

Each of these can have their own special needs and face a set of circumstances that require insurance protection. 

Types of Insurance Coverage for Specialized Trucks

Below are a few types of insurance you may benefit from depending on what type of commercial truck you are using. A few may apply to all commercial trucks and others only to specialized trucks. It is best to work with an expert in the industry to design a policy that has all the coverage necessary for your particular situation. 

Primary Liability Insurance: In the case of an accident or other incident, this insurance protects against injuries and damage caused by the truck. 

Physical Damage Coverage: Any accident, vandalism, fire, or theft that leaves the truck damaged can be protected by this type of insurance. 

Bobtail Insurance: Bobtail insurance is a type of liability coverage for owner-operators who spend time without hauling cargo. Many liability policies only protect while they are hauling something in the course of business — bobtail insurance is for those in-between moments.  

Cargo Insurance: As its name suggests, cargo insurance protects your cargo. As a trucker, you are responsible for what you are hauling, and having insurance to cover the cost of it should something happen before it’s delivered can significantly reduce your financial risk. 

Reefer Breakdown Insurance: Short for refrigerated, a reefer policy protects you when your refrigeration system fails to keep the cargo at the necessary temperature while in transit. In other words, it would cover the cost of replacing the spoilage. 

Occupational Accident Insurance: Many trucking businesses offer Workers Compensation for their drivers, but independent contractors and owner-operators don’t have access to this. Occupational accident insurance, however, provides coverage if any on-the-job injury is suffered. 

Dump Truck Insurance: This type of insurance is designed to fit the specific needs faced by dump truck businesses. 

Is Your Truck Properly Insured? 

Reduce your liability and protect your business. Before you make another move with your commercial truck, make sure you have the proper insurance to protect you, your truck, and whatever you are hauling. 

Again, if you aren’t sure you are in full compliance and have full protection, it is always a good idea to reach out to insurance professionals who can get you set up with everything you need — and nothing you don’t. It’s the best way to feel confident every time you head out on the road. 

Daniel & Henry provides comprehensive, value-added commercial truck insurance solutions designed for your trucking business while reducing your overall insurance costs.