A long-haul truck driver is one of the most in-demand individuals today. As the country moves towards e-commerce and faster delivery methods, trucking from coast-to-coast will become even more valuable.
For those operating in this field, having proper insurance coverage is critical. It protects your business and your drivers. Trucking insurance is not always simple though. There are many factors to keep in mind as you work to determine which policy fits your needs.
Long Haul Trucking Insurance Needs
Long-term security is necessary for drivers who are on the road a significant amount of time. It is important for individuals and companies to get coverage that fits their needs. If you operate as an independent contractor, your insurance needs may be different. Those who operate a full company and hire drivers have employees to provide protection for. However, in all cases, your trucking insurance needs to be comprehensive. Here are some of the key features to consider.
Protecting Equipment and Trucks
One key area of protection is for the actual truck itself. These are large investments. Without your truck, you cannot operate your business. Protecting the value of the truck can be a significant need.
Your policy needs to be very specific. It should provide coverage based on the value, features, size and function of your truck. With long-haul trucks, there is a greater chance of damage with more time spent on the road. This includes higher risks for theft, vandalism, and collisions.
Minimizing Liability Risks
Most trucking insurance companies provide a high level of liability insurance. This coverage protects others on the road with the truck driver. It can help other parties recoup their losses after an accident.
Since trucks are often in more accidents and more high-risk accidents than passenger vehicles, it is imperative to have plenty of protection. What makes it more difficult is that long-haul truck drivers are on the road even longer than most. As a result, liability insurance plans tend to be very large and provide significant protection. Otherwise, a single claim could put your business out of operation.
To minimize risks, work to be claim-free. Avoid truck drivers who have significantly poor records. Increase the amount of safety training your drivers have. And, work with the right trucking insurance company to ensure you remain protected. These steps minimize your risks. They also help to reduce your overall costs in the long term. Contact TVC Insurance to learn more about how a trucking insurance policy can help you!