Trucking companies and tractor trailer drivers need specific types of insurance to help provide financial protection. A commercial auto insurance policy doesn’t provide enough coverage for the potential liabilities faced by tractor trailer drivers on a daily basis. 

Contact K2 Insurance Brokers and Risk Management today to learn more about how to tailor your trucking and transportation insurance coverage to meet your organization’s needs. 

Federal Law Requires Public Liability Coverage  

Trucking companies and tractor trailer drivers must carry the minimum amount of public liability insurance required by the Federal Motor Carrier Safety Administration (FMCSA). 

Public liability insurance that meets the FMCSA’s minimum standards may not provide enough coverage for a trucking and transportation company, however. Depending on the amount of financial protection you need for your company, your agent may recommend that you purchase umbrella liability insurance. This coverage goes into effect if a liability claim exceeds the limits of your other liability insurance policy. 

Commercial Auto Insurance  

Trucking and transportation companies must also carry commercial auto liability insurance, which helps pay for third-party injuries and property damage caused by a tractor trailer driver. 

Other coverages in commercial auto insurance coverage include: 

• Comprehensive insurance helps pay for damages to your equipment not related to a collision. This policy may help repair or replace your company’s tractor trailer after a fire, weather damage, theft or vandalism.
• Collision insurance helps pay for damages to your tractor trailer after an accident with an object or another vehicle.
• Medical payments/personal injury protection coverage helps cover financial losses and medical bills if a tractor trailer driver or their passenger sustains injuries in an accident
• Uninsured/underinsured motorist insurance helps pay to repair or replace the tractor trailer if the party responsible for an accident has inadequate insurance coverage or is uninsured.

If you have a loan or lease on your equipment, your lienholder may require certain insurance coverage types. Your agent can help provide proof of insurance to lienholders on your behalf. 

Trucking and Transportation Insurance Options 

Other insurance policies designed to help provide financial protection to companies in the trucking and transportation industry include: 

• Trailer interchange insurance covers the repairs for the damage to another’s trailer that is caused by the insured.
• Bobtail insurance coverage helps pay for damages if there’s an accident while the driver is not hauling a load.
• Non-trucking liability insurance helps provide coverage if the tractor trailer is being used for nonbusiness purposes.
• Cargo insurance coverage helps pay for damage to the contents of a load if there’s an accident while the cargo is in the custody and control of the tractor trailer driver. Insurance companies write cargo insurance policies based on the commodities hauled. Your agent can help you get the right coverage for your company.
• Environmental liability insurance helps pay for the cost of cleaning up a spill that may contribute to pollution or is environmentally toxic after a qualifying event.

Get a Quote Today 

Contact K2 Insurance Brokers and Risk Management today to get the trucking insurance protection your company needs most and get a quote.