For commercial drivers, the choices that they make surrounding their insurance coverage can be critical for maintaining their license while also shielding themselves from some of the liabilities that can come with driving. Here are some things to understand about commercial truck insurance:
Base Your Coverage On The Cargo You Can Expect To Carry
The amount of coverage that you carry will be one of the first and most important decisions that you will have to make as you are choosing an insurance policy for your vehicle. A common mistake that individuals can make during this part of the evaluation process can be failing to account for the value of the cargo that they expect to carry. In situations where this is substantially over the legal minimum for your state, it can be worth choosing to buy a policy that has expanded coverage limits. Otherwise, you could find yourself underinsured following an accident that results in the loss of valuable cargo.
Opt For A Policy That Protects You From Vehicle Damage As Well
The liability protection of your commercial auto insurance policy is one of the most important benefits of having this type of coverage. However, it is also important to protect you in situations where general liability coverage may not be optimal. A common example of this is an accident with another driver that has failed to buy insurance coverage. In this situation, you could be fully responsible for the cost of the damages to your vehicle or even replacing it. While this expanded coverage will be more costly, the additional protections that it offers will be instrumental in keeping yourself safe from these financial losses.
Know The Limitations Of Potential Commercial Truck Policies
The cargo that commercial truck drivers can be asked to carry may vary greatly. While many of these materials will be relatively harmless, there are some that are classified as hazardous or otherwise dangerous. Unsurprisingly, this can lead to commercial truck driver insurance policies having limitations in terms of the types of cargo that they will allow the driver to carry. Reviewing these points to make sure that none of the cargo you anticipate hauling is banned can be instrumental in choosing a policy that will be compatible with your needs as a driver. Failing to review such important details, may cause issues with protection from your insurance if you are hauling cargo that is restricted. If you are a driver that regularly transports dangerous or hazardous cargo, a specialized commercial truck driving policy may be required.