Things To Know Before Choosing Truck Insurance
The most prolific safety problem in American transportation is motor vehicle collisions. In the United States, about 500,000 trucking incidents occur each year, with around 5,000 resulting in death. In 2019, a total of 4,119 people were killed in significant truck collisions. Truck occupants accounted for 16% of the deaths, car and other passenger vehicle occupants accounted for 67%, and pedestrians, bicyclists, and motorcyclists collectively accounted for 15%. The number of people killed in major truck accidents has increased by 31% since 2009.
A regular commercial auto insurance policy is insufficient for owners and operators of trucks. Truckers must recognize the tremendous physical harm that their trucks have the capacity to cause, including environmental/property damages, the high cost of fixing such a large vehicle, and the cost of replacing any cargo damaged in transport.
An excellent trucking insurance company offers far more than just protection from harm done to the truck; it also provides truck drivers with the coverage that they are legally required to provide when running a vehicle on the road. This legal provision includes unrestricted coverage for third-party bodily harm or death, as well as coverage for third-party property damage.
The cost of truck insurance can be quite high. Each operator must pay an amount depending upon the Insurance Agency, which is calculated based on several factors. These factors may include the following:
- The truck is particularly valuable.
- Where the trucks are driven and whether they travel internationally
- The nature of your business, as well as whether or not you visit hazardous sites or transport of dangerous materials.
- The age and experience of your drivers, as well as their injury and prosecution records.
- If you’re consciously using telematics software or camera systems to track and enhance your drivers’ driving style and behavior.
A hauler with up to five vehicles would usually have each of their trucks classified separately. Above that number of vehicles, policies are typically fleet-rated, with premiums based heavily on prior claims experience across the entire truck fleet, including semi truck insurance.
Do I need a Philadelphia Trucking Insurance Agency?
InformationOwners and operators of commercial trucks can’t get by with a standard commercial auto insurance policy. In addition to protecting the cargo that they carry, truckers must consider the massive physical damage that can be caused by their trucks, the potential environmental issues an accident could cause, and the expensive cost to repair their large vehicles.
Liability InsuranceFor bodily injury and property damage liability exposure, one should consider an auto liability insurance policy. This policy will protect truckers by covering many different types of harm that they can unintentionally inflict on others and their property. This includes accidental damage to a retailer’s delivery dock, to other drivers, vehicles, and pedestrians.
Cargo InsuranceYour clients rely on you to safely deliver their cargo in the same condition it was in when they turned it over to you. With cargo insurance you can reimburse a client for qualifying damages made to their cargo during transport—and all without tapping into your business bank account except to pay the deductible.
Bobtail InsuranceWhen your truck is without cargo, it still needs protection. Bobtail insurance covers your truck even when it is not operational.
Physical Damage InsuranceIf your truck is in an accident or collision, you need the right commercial insurance policy protecting your financial interests. Collision insurance and comprehensive insurance can cover various accidents and damages caused by theft, vandalism and fire.
Environmental Liability InsuranceIf your truck carries cargo that can be environmentally toxic or could contribute to pollution, you need special insurance to help pay for the cost of the cleanup if it should be spilled in an accident. Environmental liability insurance will cover this expense, as long as it occurs in a qualifying situation.
Get In Touch With An Experienced Trucking Insurance Agency
For drivers of single trucks or haulers with fleets of up to five HGVs, Remco Insurance Services provide customized truck insurance with a wide range of options. Our mission as an independent insurance agency is to provide comprehensive assistance with all of your insurance needs, primarily in managing and planning for all future risks. Being a Big Rig Trucking Insurance Agency, we have professionals equipped to expertly evaluate your needs and provide you with a range of potential insurance solutions. We put in a great deal of effort to create and maintain a trustworthy relationship with our customers. By serving as your consultant, we aim to maximize your sense of ease and security. Get in touch with us to get the best insurance at the most affordable prices.
Thank you for your interest in Remco Insurance Services, we proudly insure residents and businesses. Contact us today at 215.357.7878 to get started with superior service, coverage and the best rates.