General Liability Insurance For Trucking Companies

Fleets big and small need protection from incidents that can quickly become a financial drain. General liability insurance for trucking is one of the best ways to feel confident and secure whenever you or your employees hit the road.

Insurance is an important aspect of our lives in so many ways. If you rent or own a home, drive a car, or visit the doctor, you probably have insurance. It comes in many different forms to fit different areas of everyday life.

When it comes to your job, insurance holds the same importance. Your business is your livelihood, which is why it’s so important to gain peace of mind through several different insurance policies. You don’t have to fear the unknown or even a worst-case scenario when you have comprehensive coverage.

What Is General Liability Insurance?

General liability insurance is also commonly referred to as business liability insurance or commercial general liability insurance. It’s designed to protect your trucking business from a range of different situations.

From bodily injury to property damage, and even claims of libel and slander, this type of policy is broad. However, it provides essential protection from steep out-of-pocket costs in the case of a lawsuit.

This is the most common type of insurance policy for small businesses and self-employed workers such as for-hire truckers. Because claims can arise in nearly every industry, it’s typically considered a must-have. In many cases, this is the first policy a business will set up because it provides coverage in so many different situations.

Why is general liability insurance so important? The numbers may surprise you.

Studies show that four out of ten small businesses will experience a liability claim at some point in the next ten years. The average cost of this type of claim starts at $35,000 but can quickly and exponentially multiply. Any unforeseen expense can have a serious impact on your small business. General liability insurance offers financial peace of mind.

Does Your Trucking Business Need General Liability Insurance?

When it comes to legal requirements, every state will differ. Some will require general liability insurance for certain types of businesses, while others will simply recommend it. However, it’s not uncommon for companies to require it when they choose to partner with a contractor or business.

In short, it’s best to carry this type of policy, especially if you work in the trucking industry. This is one of the most basic forms of insurance that will provide protection when you need it the most.

Further, the cost of not having general liability insurance can become tremendous in the event of a lawsuit. From settlements to attorney fees, the price tag of a claim against your business can be financially devastating. It’s not uncommon for these bills to come to a total of hundreds of thousands of dollars. Even if a claim is dropped, you could face thousands in attorney fees. The right general liability insurance policy will protect you from the burden of these types of bills.

What Does A General Liability Insurance Policy Cover In Trucking?

When you think about trucking, many obvious risks come to mind. From highway collisions to accidents related to weather, driving presents many known challenges.

However, the trucking industry is vulnerable to plenty of other types of lawsuits and incidents as well. Just like any industry, there are risks that come with running a trucking business. Here are some of the most common types of claims.

Bodily injury

If a customer, delivery person, or other third party is hurt at your place of business and your business may be to blame, general liability insurance can help. You may be able to seek coverage for the other person’s medical or funeral expenses. Fines related to court-ordered judgments, as well as attorney fees, may also be covered.

It’s important to note that employee injuries fall under workers’ compensation insurance, not general liability insurance.

Property damage

When it comes to trucking that involves hauling cargo, even small mistakes can add up quickly. For example, if your driver drops a heavy box and breaks the contents, you may be held liable. In some cases, this damage could also be related to extensive delays and shipping errors, rather than physical damage. Trucking businesses that transport products should have robust general liability insurance to gain protection from these types of incidents.

Keep in mind, damage to your own business property is not covered under this type of policy. Commercial property insurance and other types of trucking insurance that provide protection on the road will apply in these instances.

Advertising and copyright issues

Even with due diligence and a proactive approach, advertising lawsuits can happen. For example, if you accidentally copy a competitor’s logo or branding, you could be held liable for damages.

General liability insurance can provide coverage for these types of legal issues, including defamation (libel and slander) and copyright infringement. In this type of situation, your general liability insurance may cover the cost of attorney fees, as well as any fines the court may order if you lose your case.

Driver behavior or errors

You may also face issues related to the behavior of your drivers. Whether it’s at a truck stop or loading dock, these errors and other issues can lead to lawsuits.

General liability insurance is valuable because it can provide coverage in these very unique circumstances. While this category may seem broad, it has the potential to protect your business from a range of different issues that could lead to someone filing a claim against your company.

How Much Does General Liability Insurance Cost?

Insurance is not a one-size-fits-all product, which means the cost of a policy can vary greatly from business to business. If you’re in a high-risk type of industry, you’ll likely pay more. For example, car carriers transporting vehicles worth hundreds of thousands of dollars or trucks completing extensive construction projects would likely have higher premiums than a small local delivery fleet. Certain areas with heavy traffic or adverse driving conditions can also lead to higher costs.

Here are some of the factors that may influence your premium price as you search for a general liability insurance policy:

Location
Size of fleet
Years of experience
Policy details, including coverage limits and deductibles
Types of cargo or other hauling factors
Interstate vs. intrastate trucking

Get a free quote from AIB

The best way to determine how much your policy may cost is to get a quote. At American Insurance Brokers, we offer a free quote that doesn’t come with any obligations. Our goal is to assess your business needs and give you an idea of just how much coverage you may need and what it will cost.

Since 1980, we’ve provided comprehensive and competitive insurance options to the Southern trucking industry. We know the types of issues you may face and the type of coverage you’ll need on the road. Our goal is to provide you with options that fit your budget, while still providing the protection you need.

Get Covered With American Insurance Brokers

When fleets big and small need reliable insurance, American Insurance Brokers is their first call. With a focus on unmatched customer service, it’s no wonder we set the standard for the trucking industry in the South. From dump trucks to car carriers, our reputation for finding competitive insurance for commercial vehicles is extensive.

We can help you find a policy in the following states:

When you partner with American Insurance Brokers, we help you find the coverage you need. Our free annual policy review also gives us a chance to take a closer look at your policy every year. Our goal is to ensure you always have the right amount of insurance at a competitive price.

Why You’ll Love American Insurance Brokers

We make insurance easy. As we review your policy, we’ll analyze three important factors. We want to see low deductibles and high limits, as well as full compliance with all federal and state requirements. Because there are dozens of federal and state trucking insurance requirements to keep track of, we know it’s important to do most of the heavy lifting for you. We will make sure you are up to date on all necessary forms for seamless compliance with the law.

It’s also important to work with a responsive insurance company that promotes open lines of communication. In the event of an accident, it’s essential to have a team that works tirelessly to get you back on the road. At American Insurance Brokers, we work with dozens of “A” rated companies to get you the policy and customer service you deserve.

Get started

Ready to find the right general liability insurance for your trucking business? Perhaps you have questions? Let us do the heavy lifting! The team at American Insurance Brokers works hard to meet all of your commercial truck insurance needs in the South.

Use our online form to request a free, no-obligation quote today!