For the most part, commercial insurance is pretty basic. You know that you are going to need to invest in liability coverage and coverage against physical damages. However, there are some more important details and issues of which you also need to be informed. This includes things such as out of state workers compensation, cargo insurance and truckers general liability.
All commercial truck insurance policies need to include liability coverage. This type of coverage will ensure your protection against property damage or injuries that you or your drivers cause to others. The minimums for the necessary liability coverage that must be included in your commercial vehicle insurance policy are mandated by state law. However, if you cross state lines on a regular basis, then you will need to obtain a policy that also meets the minimums that are mandated federally.
The minimum requirements for Trucking Insurance Liability coverage depends on the vehicle weight class as well as the type of materials you are hauling in the truck. For instance, a five-ton semi that is loaded with hazardous materials will need a minimum coverage that is higher than a lighter truck that is hauling general commodities.
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