In the business world, we use trucks for lots of our goods transportation needs. At some time, we do outsource transportation to a transport company, or else we do transportation by our own trucks or we are a truck for hire business. However, if we do the transportation with our own trucks, or we are a truck for hire business, we should always be in touch with the state's rules and the regulations with regard to these transportation methods and carry truck liability insurance, truck collision and comprehensive insurance, truck uninsured motorist insurance, truck medical insurance, motor truck cargo insurance, trailer interchange insurance, bobtail deadhead insurance coverage, hired auto insurance, non owned auto insurance and truck general liability insurance. It's absolutely imperative for any trucking business to be cognizant of adequate of amount of truck insurance coverage and types of truck insurance coverage as there are several type of insurance coverage available. Some types of truckers insurance are compulsory and regulated by state and some are optional coverage.
As an example, the truck insurance is one essential and mandatory requirement which we need to fulfill before we put a truck on a road. Furthermore, this truck insurance should expand and extend to other states which are specially mentioned by regulations of state. The truck liability insurance section is a mandatory coverage where the truck owners and transportation companies should carry while they renew or obtaining the truck insurance policy, they should also go over all other types of truck insurance coverage with their insurance brokers.
Since the operation of a truck is different from a private car or van, the truck liability section has been implemented into truck insurance coverage by government. The main reason is the number of truck accidents reported are far higher and the number of accidents rises up every year. In some situations, the truck owner is not in a position to make the compensations to the victims, and it makes lots of consequences accordingly. Because of this situation, the government has introduced certain limits and the liabilities which the truck owner should include into the policy.
According to the statistics collected, the losses created by truck accidents are catastrophic than damages created by private cars or motor cycles. Due to this increased amount of accidents, the state has introduced various regulations on truck liability limits according to the type of goods transported by these trucks. As an example, if your truck carries non hazardous goods, then your insurance should cover at least $ 750,000 liability on a third party liability claim. This limit will be varying from the type of the goods carried, and you should refer to the government motor traffic act, in order to gather more information on the same subject.
Anyway, the insurance companies are aware on these requirements, and they do have professional understanding on what will be the actual limitations you may require. So, if you declare about your truck based business at the proposal stage, the insurers can guide you with the required coverage and other information. However, it is always recommended to get some assistance from your most trusted sources before you select coverage from an insurer. If you do these references properly, then you will never be regretted at the time of an accident as you can use your insurance policy to pay out the third party claims arisen. So it will make you really comfortable on your business, and you can stay relieved with the financial liability as you have transferred the risk to the insurer.
For additional information or if you wish to obtain a business insurance quote, please contact SafePro Insurance Services http://www.safeproins.com.
Woodland Hills, CA
Phone: 1-888-411-7679, Extension 701