If you’re a trucking owner operator you already know that you need good truck insurance. The question is: What kind of insurance, and how much will it cost? There are many different options, and the best way to assess them is to work with a truck insurance specialist like Girard Insurance Services.
That way, you’ll be sure that all the details are covered – You’ll receive the most comprehensive coverage at the lowest price.
Most importantly, we understand that if your truck is sidelined by an accident or paperwork issue, you’re “out of business.” So, we work to make sure that you stay on the road, and in business.
The right truck insurance coverage
We can help you figure out which kinds of trucking insurance coverage you need, and the amounts. There are several things to consider:
Primary liability coverage includes both uninsured motorist (UIM) as well as personal injury protection (PIP) coverage. Liability insurance pays for damage or injuries to others that you may cause.
Physical damage coverage is generally required by shippers and/or state authorities to cover damage to the cargo.
Workers’ compensation is generally required if you have employees.
Bobtail insurance covers accidents that may occur during times when your truck isn’t actually hauling a cargo.
Terminal insurance is a good idea if you own a terminal with multiple trucks. Or, if you simply maintain your own vehicles you’ll want to insure the garage where you perform that work.
If you’re working as an owner operator you’ll need the right kind of coverage, which depends on whether you work under your own authority or under the authority of someone else on a permanent lease or trip lease. If under your own authority, you’ll probably need:
Physical damage coverage, which should be tailored to the kinds of cargoes you haul, and the shipper’s requirements.
Occupational health & accident coverage can help pay benefits if you’re laid up, including the cost of truck payments.
General liability and/or garage liability can cover additional risks.
Work with professionals
If you run under someone else’s authority, it’s important to carefully read the lease so that you understand who is responsible for the insurance coverage.
Although most motor carriers carry primary liability coverage, many do not carry any physical damage coverage for owner operators. But, you’ll need this coverage to protect yourself if there’s damage to trailers that you pull but don’t own.
For the best peace of mind, work with insurance professionals to make sure that you’re properly covered. At Girard Insurance, we can help you choose the right protection at the lowest price.
Just call us toll free at 844-750-6003