Trucking companies and tractor trailer drivers must have certain types of insurance to help protect the company, the driver and the public.
Contact Dorsey & Associates in Philadelphia, Pennsylvania, today to learn more about your commercial trucking insurance options and get a quote.
Commercial Trucking Insurance Types
Before a trucking company can receive its Operating Authority, also called a Motor Carrier (MC) number, it must prove that it complies with FMCSA insurance regulations.
Public Liability Insurance
Trucking companies and tractor trailer drivers must purchase public liability insurance to remain compliant with Federal Motor Carrier Safety Administration (FMCSA) requirements. Brokers and shippers may require higher public liability limits than the FMCSA.
Public liability insurance is designed to protect the public from the financial effects of accidents when the truck driver is at fault. This coverage helps pay for environmental restoration and third-party damages.
Commercial Auto Liability Insurance
Business vehicles, including semi trucks, must carry the minimum commercial auto insurance as dictated by state law. Commercial auto insurance includes liability coverage for third-party injuries and property damage.
A commercial auto policy may also provide additional coverage, including comprehensive, collision, uninsured/underinsured motorist and medical payment/personal protection coverage.
General Liability Insurance
Trucking companies and truckers need general liability insurance to help pay damages if someone is injured on company property. This coverage also provides coverage if the truck driver or company is sued for causing harm to someone else.
Trailer Interchange Insurance
Trailer interchange insurance helps cover physical damage to a trailer if the operator does not own the trailers. It helps pay for damages truckers may cause while switching trailers. This coverage can help truck drivers and trucking companies cover expensive fines and repairs.
Motor Truck Cargo Insurance
Motor Truck Cargo insurance helps pay for accidental loss or damage of cargo and is essential coverage for any truck driver or trucking company responsible for hauling goods. This policy also helps protect the shipper.
An umbrella insurance policy helps pay for third-party damages that exceed the limits of other liability policies. This coverage provides essential financial protection for tractor trailer drivers and trucking companies.
Get the Commercial Trucking Insurance You Need Today
Having appropriate commercial trucking insurance coverage is essential to the well-being of your organization. Contact Dorsey & Associates today to get commercial trucking insurance tailored to meet your needs.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.