Trucking Liability Insurance
The law states that if you have a trucking business, you need to insure that business with liability insurance. The Federal Motor Carrier Safety Administration (FMCSA) requires minimum policy amounts depending on the size of your business. The bigger your business, the more insurance your company will need. Don’t fret; insurance is a good thing, and you should want to get it anyway! The right insurance policy can help protect your business and prevent any catastrophic emergencies that could potentially cause you to lose your business. After all, accidents happen. Liability insurance covers you in the case of an accident when you, your employee, or your business is found liable.
The Basic Parts of Trucking Liability Insurance
Property Damage Insurance: This helps protect your business in the instance where you or an employee damage someone else’s property.
Bodily Injury Insurance: If you or an employee cause an accident that causes someone else to get hurt or injured, bodily injury insurance helps cover your business.
Legal Fee Coverage: One of the great things about liability insurance is that it can cover your legal fees in case of a lawsuit against your company.
Together, these encapsulate what liability insurance covers. If your business is at fault for an accident that causes damage to people or property, your liability insurance will make things right. It is important to note that liability only covers accidents in the event that you or your company is at fault. It is always recommended that your business hold additional insurance policies that cover you and your business property more fully. These policies typically include things like cargo insurance or physical damage insurance.
Let’s face it, it’s not easy to run a business. In a perfect world, your business would drive in profits, and you could easily cover any unforeseen expenses. However, the world isn’t always perfect, and unforeseen accidents still happen. If your business is deemed to be at fault for an accident, you will be responsible for making things right. This can get very expensive, especially if the accident proves to be catastrophic. These catastrophic accidents can bankrupt companies that don’t have the proper insurance policy.
The way your insurance covers these accidents is through the policy limits. These set limits determine how much the policy can pay out for an accident. If your business routinely handles expensive equipment or navigates through dangerous events, then you will want to make sure your policy limits match your exposure. Your exposure is how expensive things may become if your company causes an accident in its daily routine. Here’s a pro tip: find yourself an insurance policy that has limits that exceed your exposure.
SafeLine Truck Liability Insurance
The best way to make sure your company is covered is to talk to a knowledgeable insurance agent about your business. The right agent understands your business and helps you recognize your level of exposure. Here at SafeLine Truck Insurance, we have a team of industry experts who can do just that. For over 16 years, SafeLine Insurance has been a leader in the insurance industry. We know how your business works and we’ve seen it all. That means we can insure it all.
Best of all, a SafeLine Insurance agent can let you know the best policy for your business. They know the FMCSA minimum requirements, but they also know how much insurance you need to keep your business running in the case of an accident. Our team of friendly agents are ready to talk to you about your business needs. The good news is that premium insurance is more affordable than you think.
Contact us today to receive a free quote for your liability insurance.
Note: every policy is unique. Your coverage may vary based on the specifics of the individual policy that you choose to purchase.