What Does Commercial Truck Insurance Cover?
Commercial truck insurance requirements vary by state, which means coverages can look different depending on your location. However, these are some of the different types of commercial truck insurance that might be included in or available as add-on coverage with your policy.
Commercial auto liability
This type of insurance typically covers injuries to other people or damage to property if you’re at fault for an accident. It may also pay for your legal defense costs in the case of a lawsuit.
Physical damage is a general term for a group of insurance coverages that can protect your truck. This generally covers collision insurance, as well as your choice of full comprehensive insurance or Fire and Theft with Combined Additional Coverage (CAC) insurance.
Medical payments coverage
Also known as MedPay coverage, this can cover medical expenses for you and any passengers in your vehicle who are hurt during an accident. This is generally regardless of who caused the accident.
Uninsured motorist insurance
Depending on the state, this type of insurance coverage may consist of three separate insurance solutions that are typically categorized together. It can protect you if you’re involved in an accident with someone who is either uninsured or underinsured.
Trailer interchange insurance
This type of physical damage insurance is important for trailers being pulled under a trailer interchange agreement. This insurance may protect you financially if the trailer is damaged by collision, fire, theft, explosion, or vandalism.
Non-trucking liability insurance
When you’re under permanent lease to a motor carrier and you’re not driving under dispatch, non-trucking liability insurance can provide the truck insurance coverage you need at an unlimited radius.
Motor truck cargo insurance
For-hire truckers usually need this type of insurance to cover liability for cargo that could be lost or damaged due to causes such as fire, collision, or striking of a load.
Motor truck general liability
For-hire truckers or motor carriers often need this type of coverage for injuries or property damage that could result from business activities unrelated to truck operations.
On-hook towing insurance
On-hook towing insurance can pay to repair or replace a vehicle you don’t own if it is damaged by a collision, fire, theft, explosion, or vandalism while you are towing or hauling. Note that in Texas, on-hook towing insurance is known as Garagekeepers legal liability insurance.
Garagekeepers legal liability insurance
Garagekeepers legal liability insurance can protect business owners who offer towing services or operate service stations. It may also protect a customer’s vehicle when you are keeping it at a covered location for parking, storing, or performing service. Note that in Texas, garagekeepers legal liability coverage is called storage location insurance.
Workers’ compensation insurance
Workers’ compensation insurance, also known as workers’ comp, is a mandatory form of insurance carried by a range of different businesses and industries. It generally covers medical costs and a portion of lost wages for an employee who is injured on the job. It can also protect companies from lawsuits related to workplace conditions.