Car Carrier Insurance
Car carriers are trucks used by auto shipping companies, car manufacturers, and dealers. They use these large haulers to get their cars across large distances. This kind of truck can bring great profits to its owner, but buying one means investing a lot of money. And owning a car carrier truck requires carrying the right insurance policy.
If your car hauler is damaged in an accident, paying for its repair and any other expenses can ruin your budget. However, by having a strong truck insurance policy, you will protect your investment. Not to mention that the USDOT requires a certain level of insurance to legally operate a commercial truck. The more vehicles your car carrier hauls, the more coverage you need.
What Kind of Car Carrier Insurance Do You Need?
- Property damage. This coverage pays for damage to someone else’s property, which can be huge when car carriers are involved.
- Bodily Injury. This coverage pays for medical expenses when you or your driver injures someone in an accident.
As a car carrier, you also have to carry cargo insurance. Some companies will not even work with you if you don’t have at least $250,000 of cargo coverage. Vehicles are valuable cargo, and their theft or damage can result in thousands of dollars in losses.
Another important policy is physical damage. This policy protects your finances if your truck is damaged. It includes:
- Collision insurance that pays if your truck has overturned or collided with another object.
- Comprehensive insurance that pays for any other damage that may happen to your truck.
It is very important to have a car carrier insurance policy that covers you fully. A single accident can cause huge financial losses to your business. Some can even make you lose your livelihood. That’s why you should take the time to discuss your policy with an experienced SafeLine insurance agent.