Your Trusty Guide to Truck Insurance: Navigating Primary Liability
Hey Truckers, Let’s talk about primary liability insurance!
Every business truck must have primary liability insurance. This protects you if any activities by your vehicle result in personal injury claims or property damage. There may be severe fines and penalties if you drive without the required liability insurance. Never drive a truck without having liability insurance in force. For both truck owners and operators, making sure this criterion is followed offers financial security and peace of mind.
Imagine you’re cruising down the highway with your favorite tunes playing. Life’s good until, oops, a bit of a mishap on the road! That’s where primary liability insurance becomes your best pal. It’s like a trusty co-driver, ready to take the wheel when things go south.
- Covering the Bumps: This isn’t just about ticking a box for legalities; it’s about peace of mind. Whether it’s a small scratch on another vehicle or something bigger, this coverage has your back.
- Pricing It Right: Just like picking the right gear for the right moment, getting your insurance cost nailed down is crucial. It’s a balancing act—getting enough coverage without overdoing it.
Truck Liability Requirements
Based on a commercial vehicle’s Gross Vehicle Weight Rating (GVWR), the FMCSA determines the minimum primary liability insurance requirements. The following levels of coverage are required for vehicles weighing more than 10,000 pounds:
- A minimum coverage of $750,000 is needed for the majority of trucks used in the delivery of commodities. It’s crucial to remember that many load brokers often demand a minimum coverage of $1,000,000.
- Auto transporters must have a minimum of $1,000,000 in coverage. The industry norm for moving cars is this.
- A minimum coverage of $5,000,000 is required when shipping certain hazardous substances.
Meeting these insurance criteria is crucial for adhering to FMCSA laws and guarantees that your trucking operations are adequately protected financially, taking into consideration the unique hazards related to the items being transported.
What’s Excluded?
Primary liability insurance is made expressly to pay for harm your vehicle does to other people or property while you are using it. It is an essential type of insurance that safeguards your finances if you cause an accident and have to pay compensation to others for their damages.
Note that some exclusions apply to primary liability insurance. Theft, bodily injury to yourself, or damage to your truck are often not covered. Its primary objective is to offer financial defense against third-party obligations and losses. General liability insurance, on the other hand, is a distinct sort of protection that covers a wider variety of hazards. It goes beyond accidents caused by driving and includes situations that take place off the road. For instance, general liability would cover such events if someone were to slip and fall on your company’s property.
In conclusion, although general liability insurance gives a wider range of coverage that includes accidents happening outside of driving circumstances, primary liability insurance primarily covers damages caused by your truck to others while driving. It is recommended to have both forms to provide your trucking company with complete coverage.
Primary Liability Insurance Cost
Typically, this is the most expensive component of an insurance plan for commercial trucks. Finding the truck insurance providers with the most affordable rates for this coverage by doing some comparison shopping will undoubtedly pay off. We created our service to make doing this simple. Simply complete the Get a Quote form, and our agents will arrange everything.
Tips to Keep Your Wallet Happy
We all love a good deal, right? Let’s dive into some insider tips to keep your insurance premium as friendly as your local diner’s prices.
- Be a Comparison Shopper: Insurance shopping is like finding the best truck stop. Look around, compare, and choose what feels like home.
- Shine with a Clean Record: Keep your driving record as clean as your shiny truck. Fewer mishaps mean more money in your pocket.
- Learning is Saving: Think of defensive driving courses like upgrading your skills. They don’t just make you a better driver; they can also slim down your insurance bills.
Pros at Royalty Truck Insurance
We’re not just another insurance company; we’re like that old friend who knows trucks inside out. Our door’s always open for a chat.
- Get your free quote: Ready for a quote? It’s as easy as pie. Give us a call at +1 866-989-8998 or hop online. We’re all about making things easy and tailored just for you.
- Why Us? Over 23 years of road trips in the insurance world. That’s us! We’re here to make your journey smooth, just like your favorite highway.
So, there you have it! Truck insurance isn’t just a formality; it’s about cruising with confidence, knowing you’re covered. Give Royalty Truck Insurance a shout, and let’s make sure your trucking journey is as awesome as you are.