Motor Carrier Insurance
Choosing the right motor carrier insurance (also known as commercial fleet insurance) is the best way to protect your investment and your business. Many motor carrriers use permanently leased independent contractors (for-hire owner operators). There are many types of motor carrier insurance coverages you or your contractors may need.
Mandatory Motor Carrier Truck Insurance Coverages
Liability Insurance is a mandatory coverage that pays for damages you cause to other people and their property. Liability insurance coverages for motor carriers includes Bodily Injury Insurance and Property Damage Insurance.
Other motor carrier insurance coverages to consider purchasing include:
- Physical Damage Insurance - can pay for repairs to your truck if it's damaged in an accident (whether with another vehicle or an object). This coverage can include Collision Insurance, Comprehensive Insurance, or Fire and Theft with Combined Additonal Coverages.
- Medical Payments Insurance - Availaable in select states, this first party coverage can pay medical bill for you and any passengers in your truck in case they are hurt in an accident or auto-related injury.
- Uninsured Motorist Insurance - can pay for injuries and damages to your or your passengers and your vehicle, where available, caused by drivers who either don't have insurance or don't have anough insurance to cover your injuries and damages.
- Motor Truck Cargo Insurance - can pay for damages to cargo you're hauling.