Primary Liability Insurance for a Commercial Truck Insurance Policy

Every business truck must have liability insurance. This insurance 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.

Truck Liability Requirements

Based on a commercial vehicle's Gross Vehicle Weight Rating (GVWR), the FMCSA determines minimum liability insurance requirements. The following levels of coverage are required for vehicles weighing more than 10,000 pounds:

  • A minimum insurance 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 greater minimum coverage of $1,000,000.
  • Auto transporters must have a minimum of $1,000,000 in insurance coverage. The industry norm for moving cars is this.
  • Minimum insurance 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 main 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 insurance would cover such events if someone were to slip and fall on your company 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 of insurance 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 all.