Motor Carrier Insurance for Trucking Work for Hire
You want to safeguard your trucking company since you invest a lot of money in it. Motor carrier insurance created especially for for-hire truckers is crucial since, after all, your vehicle is your livelihood. The best approach to safeguard your investment and your company is to get the appropriate motor carrier coverage. In addition to safeguarding your company and giving you the coverage you want, Royalty Truck Insurance also provides some of the finest rates available.
Independent contractors are employed by motor carriers on a long-term lease. If you are one of these for-hire owner-operators, your motor carrier may be able to provide you Primary Liability insurance. However, you could still be required to acquire Physical Damage protection for your car as well as "Contingent" or Non-Trucking Liability insurance. There are several choices for truck insurance for rental. Learn more about the different motor carrier insurance coverages you or your contractors may require by reading the information below.
Required truck insurance coverages for motor carriers
Liability insurance, which is a requirement for motor carriers, covers losses you may cause to other persons and their property. Motor carriers’ liability insurance policies include bodily injury and property damage protection.
Extra insurance coverages for motor carriers
You should also think about getting a few of the extra motor carrier insurance coverages to ensure that your vehicle is well-protected while you’re on the road:
- Physical damage coverage, which includes collision insurance, comprehensive insurance, or fire and theft with combined additional coverages, can help cover the cost of repairing your truck if it is damaged in an accident, whether it is the result of a collision with another car or a falling branch from a tree.
- Medical Payments insurance - This first party policy, which is only available in a few states, can cover your medical expenses as well as those of any passengers traveling in your vehicle in the event of an auto accident or other incident.
- When available, uninsured motorist insurance can compensate for injuries and property damage suffered by you, your passengers, and your car as a result of drivers who are either uninsured or have insufficient insurance to cover your losses.
- Motor Truck Cargo Insurance - can cover costs if your hauled shipment is damaged.