First, truckers, tractors, and trailers are insured as business equipment and do not automatically receive coverage extensions from a personal auto policy. Electronic devices, charging equipment, cargo securing equipment, rental reimbursement, and personal property are insured differently and are not automatically covered.

Commercial auto liability is pretty straightforward. If a trucker has ICC authority, a proof of financial responsibility submission will be given to the feds. Filings are what makes a trucker compliant with the federal authority (ICC) requirements. The Uninsured/Underinsured Motorist is also helpful for a trucker who has been injured by an uninsured vehicle. Medical payments come in handy when someone is injured in and on your truck.

Cargo insurance covers the trucker’s liability for other goods that he transports. There are 3 different forms or policies: Designated Peril and Theft, which has restricted coverage, Comprehensive Form, which adds some coverage to the basic form, and Comprehensive Coverage, which provides coverage for all causes unless excluded by the language in the policy. Regardless of the shape, there are certain coverages that a trucker would need. Truckers must purchase cargo coverage equal to the highest value of the goods they are transporting. Some policies have a coinsurance clause that may limit coverage limits if you are carrying cargo of greater value than the insured limit on your policy.

1) A refrigerated carrier would need Refrigerator Malfunction or Refrigerator Breakdown coverage to cover freezing or spoilage damage incurred if their refrigerated unit breaks down. Remember to find out if the policy covers an error in setting the temperature control device. Most refrigeration policies only cover in case of breakdown or malfunction of the unit.

2) A flatbed carrier must have a moisture cover or endorsement in case your cargo is damaged due to rain or snow. Most policies have a canvas endorsement that limits coverage to loads that are properly covered. Sometimes a tarp can become damaged or come loose through no fault of the trucker, resulting in cargo damage that may not be covered unless a moisture cover is added. Coverage is also desired for tarps, chains, and lashers to replace stolen or damaged tie-down equipment that is not otherwise covered.

3) A dry van shipper would be advised to ensure that moving a load is covered. In this type of operation, larger and longer trailers are used and cargo securing equipment can fail. These cases are rare but they do happen.

Every trucker should have obtained freight coverage on their cargo policy. This coverage pays for lost income when you are unable to deliver your cargo due to a covered loss. Removal and cleanup coverage for a loss must be at least $10,000.

Physical damage coverage is generally to repair the tractor and trailer in the event of a covered loss. This coverage is insured on an established value. The value set for the equipment is the responsibility of the trucker. The insurance company will pay a loss based on equipment of similar quality. That means market value. Therefore, the trucker must ensure that his values ​​are accurate. Remember that he will pay one deductible for each unit unless your policy has a combined deductible endorsement. Also, towing is only for a covered loss, not for a disablement or breakdown. Many policies pay losses and include towing and storage limits on the declared amount of the vehicle, so if you have a loss and a large towing or storage bill, the policy limit may not cover all of your loss. Towing coverage can and should be purchased in addition to physical damage. Make sure your towing policy covers deactivation and roadside service.

Electronics such as cell phones, televisions, and radios are generally not covered unless you purchase additional coverage. Your personal property is also not covered unless specifically covered in the policy, but may be covered by your homeowners insurance. Rent reimbursement is also not automatically covered.

I have insured truckers for many years and know that the emotional bond with their trucks can be very strong, but insurance companies view them as equipment that is used to generate income. Therefore, the older and more miles they have, the less money they are worth. Improvement issues also come into play. Tractors get many more miles than cars and have a longer life. The average tractor travels between 115,000 and 135,000 miles a year. Some insurance companies take this into account when replacing an engine or suspension part after an accident. If the life of the part is expected to be 500,000 miles and you are in an accident at 250,000 miles, some insurance companies will only pay half the replacement value of the part because it has been used for half its useful life. expected of the pieces. If an agent doesn’t know how your insurance company handles this up front, they may have a lot to pay.

General liability is for incidental liability exposure not covered by the commercial auto policy. This is good coverage for auto transporters who may drive vehicles to a location after unloading from a trailer. Also a trucker who uses his own forklift to load and unload cargo.

Workers’ compensation is required for injuries to truckers or their employees. Work Accident is a low-cost alternative with certain coverage advantages and disadvantages. It is always best to consult a truck insurance specialist to explain all of these coverages and to get advice on particular types of trucking risks.

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