3 Reasons To Get Commercial Truck Insurance
If you are new to trucking, you may have heard people say that getting commercial truck insurance for your rig is absolutely essential. But are they right? Owner-operators in particular might wonder if there are cheaper, easier alternatives available to them in order to offset other expenses. That said, there are a huge number of reasons why the most experienced, knowledgeable truckers on the road all recommend getting trucker insurance. Take a look at just a few of the biggest reasons below.
Personal Car Coverage Won't Cut It
It may be tempting to try and use a personal car policy on your new rig, but the fact of the matter is that this is virtually impossible. For starters, the liability limits on a regular auto policy won't be close to what is actually necessary as a commercial driver. Secondly, the vast majority of insurance companies will simply consider the policy invalid if - in the event of an accident - it is found that a driver with a personal auto policy is driving a commercial vehicle for business purposes.
Not All Premiums Are Equal
Experiencing sticker shock might be part of the process when looking at commercial truck insurance, but it should be remembered that not all premiums are equal across the board. In fact, they are determined by a complex array of factors, including how long a driver has been employed, how safe they have been on the road during that time, and even things as seemingly minor as the routes they run and the cargo they carry. Because all of these things change continually for a driver - especially a less experienced one - it is not unreasonable to expect insurance premiums to decrease over time. In other words, newer truckers who drive responsibly can expect to start saving money on insurance in the future.
Covering Damage To Property
Compared to vehicles that are driven for personal use, it is unfortunately far more likely that a commercial vehicle will damage property of some kind in the case of an accident. This can be expensive to say the least, and a personal auto insurance policy simply won't provide the protection necessary in case a business whose property is damaged happens to sue. On the other hand, a commercial trucking insurance policy will usually offer significant protection in these extreme cases, which means you can rest easy knowing that your business won't automatically go under.