Truck Driver Liability Insurance Explained
Jul 7, 2009 More Saving
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Truck driver liability insurance is just like a normal liability plan, except that it covers your truck instead. This type of insurance is mostly involved with business owners who want to protect their delivery trucks. If you have a truck in your businesses it is required to have this insurance or you can be punished by the law.
This insurance plans covers the truck in case of any damage inflicted upon by a road accident. What if your delivery truck got involved in a road accident and you have no other means of transporting the delivery materials. If you do not have enough funds to substitute your truck then you may have to postpone the delivery, make extra payments for the materials damaged, and probably even face loss in business by loosing good customers. If you are new into business, then this blow would be enough to scatter your dreams.
Check to see what your insurance plan covers. It may cover your truck, the driver, and even other vehicles involved with an accident. You will also want to check and see if your truck is covered only while you are driving, or while you are out of the truck as well. It may be that you are parked on the side of an on ramp while a car hits you, and you need to be insured for that as well. The good thing about truck insurance is that it is carried from state to state, so you can drive anywhere in the US with your truck.
Keep in mind that if you are making cross-state trips you will have to have a DOT number. All commercial vehicles crossing state lines, even from other countries, must have this number. Passenger, private, and exempt commercial vehicles are all included.
Getting insurance for your cargo loads is also a god idea. A huge truck may contain cargo worth thousands of dollars, which maybe destroyed if your truck gets involved in an accident. However, the insurance plans generally cover only a certain kind of cargo loads, so you must carefully check with your insurer before getting anything loaded on your delivery truck.
There are times when a truck is needed by business owners for just a couple of days, like for example simply to drive home their commercial vehicle from the dealer. Under such circumstances, you may need to purchase a short-term insurance plan. Most of the insurers offer a cover of up to four days, with per day rate basis. This offers you a lot of time to make speedy deliveries if need be.
One of the things you will have to change most often with your truck driver liability insurance is the drivers that are covered on your plan. Every driver must have an appropriate license and proper training to be allowed to drive your company truck. Furthermore, before a driver can be covered by the plan they must be approved by your insurance company. Do not hire any drivers with a bad driving record as they may be denied or because your insurance rates to go up.
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