Truck Trailer Insurance
Good commercial truck insurance comes in many forms. Depending on what type of cargo is being hauled, federal and local governing agencies may require specific types or amounts of coverage.
Trucking insurance is available to cover damages, medical bills, compensation for lost wages, valuable or hazardous cargo, or any number of different things.
Motor carriers often need several different policies in order to fully protect their economic assets. Independent owner/operators also have their own specific needs.
One thing that both might overlook is the need for truck trailer insurance, especially if the company or independent hauler plans to participate in trailer interchange agreements.
Trailer Interchange Agreements
Trailer interchange agreements are written contracts between two drivers or companies in which they agree to swap trailers and complete each other’s haul. This is common practice in the commercial truck industry and is done to help haulers ship their goods in a more cost-effective and timely manner.
Anyone involved in such an agreement needs to be aware of the effect that it has on their trucking insurance coverage. If the trailer is covered by the employer of the driver or by the drivers themselves, it becomes invalid once handed over to another party. There is truck trailer insurance available to cover this specific type of arrangement.
Trailer Interchange Insurance
Trailer interchange insurance is coverage that is specifically designed to keep trailers covered when they are swapped. It covers the cost of damages to either the trailer or the goods being hauled.
It is very important that independent drivers and motor carriers consider trailer interchange insurance if they intend to exchange trailers because the cost to repair or replace a trailer could be crippling.
More Cargo Insurance Articles:
For more truck insurance articles related to specialty cargo insurance, visit some of our related resources such as Towing Insurance and Trailer Interchange Coverage
