In the commercial vehicle industry, trucks are considered to be the most diverse and highly regulated vehicle in the United States. The main reason behind this is that these trucks are used for many purposes and applications and therefore, having truck insurance is a must for all truck owners. Truck vehicle companies transport different types of goods from one place to another such as household goods, various types of building materials, refrigerator materials, fuel, and so on. Therefore, it can rightly be said that commercial trucks are used for many purposes.
Since trucks are used for various purposes, these types of vehicles require special types of insurance coverage. Let’s have a look at the types of truck insurance –
- Primary truck liability insurance
This is a form of commercial vehicle insurance. The transportation industry of the United States requires all trucks to come under their coverage. It provides financial coverage for injuries and damage costs if the vehicle is involved in any kind of accident where the truck driver is held responsible. Even independent operators and owners are eligible for the coverage that comes under this contract.
- Physical damage insurance
To an independent truck driver, his truck is his asset, and therefore, it is of the utmost importance that the truck should be in a well-maintained condition and repaired from time to time if any unfortunate incident takes place. This physical damage insurance covers the cost of damage and repair of the vehicle.
- Non-trucking liability insurance
Since liability coverage is required by law every time when the truck is on road, this insurance policy provides coverage to independent truck drivers once the job is done successfully. Thankfully, non-trucking liability insurance offers the best coverage without forcing the drivers to pay.
Like truck insurance, commercial car insurance is also important for all private car vehicles. All car owners must opt for this insurance to get the best coverage.
Therefore, these are the different types of truck insurance that provide the best coverage.
Commercial car insurance is a complex, interesting and tricky business. That’s why Policymeter is dedicated to offering you the best service in the industry, so you can focus on running your business and not worry about any future claims. Policymeter is a world leader in offering affordable commercial car insurance, and they can help you compare the best options too. We offer a wide range of different forms of commercial insurance such as fleet insurance to protect your business assets.