How Does Commercial Truck Insurance Work -Know These Facts

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Are you running an owner-operator trucking service? If so, commercial truck insurance is an essential coverage for you. More than just a car truck insurance, the package comes with various types of coverage and having a sensitive understanding how each type works is a trick to make a well-informed decision.


The basic coverage comes with a comprehensive commercial truck insurance package. As a rule of thumb, it includes not only the costs of vehicular accident, but it also streamlines possible damage to your truck. Similar to regular motor vehicle, this type of coverage cover the costs of any repair to your truck. Do you know what the good news is? Despite of your bad credit rating, you are not declined the chance to avail a basic commercial truck insurance coverage. Thanks to car loans for people with bad credit. Rather than focusing on your credit history, a reputed insurance company looks into your capability to pay.


In a specialized coverage, there is a wide range of options to choose from. Ideally, you need to choose based on the exact requirement of the situation where your truck is involved. While it includes the basic package, it also covers commercial auto liability, which applies for body injuries and property damage to others. It also includes cargo insurance which cover any loss of damage including the costs that come with it.

Truck Insurance


This type of commercial truck insurance package includes liability coverage, occupational accident, bobtail insurance and personal item coverage in your truck. If you are familiar to non-trucking liability insurance, you might have a hint about specialized coverage. It applies in the absence of cargo transportation, whether or not a trailer is used. In the event of an occupational death, the occupational insurance coverage steps in.


Are you looking for a commercial truck insurance that you can pay monthly in advance? If so, premiums are the best answered prayer for you. If you decide to purchase from a dealer, the payments will be integrated with the truck payments. The drawback here is that it can be a little bit expensive that purchasing directly from an insurance service provider. You have the chance to cancel the service any time and it will not pose any negative impact to your credit rating. If you had a bad driving record, you might expect the payment to be on the higher spectrum.


In this type of commercial truck insurance, your payment will depend on the deductible based on your own preference or qualification. Just like with premiums, drivers with bad driving records are also subjected to higher deductible because of the possible risks that it may bring to the service provider. Normally, deductibles differ from $500 to$2,000 and they should be settled first during a claim. Say for instance, for those who have a deductible of $1,000 along with $1,500-repair, you need to provide the payment to the repair service provider and then your insurance company will settle the remaining $500. If you hate high deductible, it is advisable that you choose a higher premium and low deductible. Higher deducible and lower premium is the best choice for experienced professional commercial truck drivers.

There you have it- the different types of commercial auto insurance. Now that you are aware of the different types of coverage, you can now get started in making the right decision. For a double leap of peace of mind, consider taking extended warranty insurance.

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