What Does Commercial Truck Insurance Cover?
State-specific commercial truck insurance regulations mean that depending on where you are, different coverages may be available. We offer the following types of commercial truck insurance.
Commercial Auto Liability
When you are at fault for an accident, commercial auto liability insurance pays for any property damage or injuries to third parties. In the event of a lawsuit, it might also cover the expense of your defense.
The word “physical damage” refers to a variety of insurance policies that can safeguard your truck. This often includes comprehensive insurance, fire, and theft with combined additional coverage (CAC), and collision insurance.
Medical Payments Coverage
This can cover medical costs for you and any passengers in your car who get wounded in an accident. It is also known as MedPay coverage. The coverage generally covers the insured and their passengers regardless of who caused the accident.
Uninsured Motorist Coverage
Depending on the state, this category of insurance may include three distinct insurance products that are frequently lumped together. If you get into an accident with someone who is either uninsured or underinsured, this coverage can protect you.
Trailer Interchange Insurance
Trailers being pulled in accordance with a trailer exchange agreement require this kind of physical damage insurance. If the trailer is destroyed by a collision, fire, theft, explosion, or vandalism, this insurance could offer you financial security.
On-Hook Towing Protection
If a vehicle you do not own is damaged due to a collision, fire, theft, explosion, or vandalism while you are towing or hauling, on-hook towing insurance may cover the cost of repair or replacement. Note that garage keepers’ legal liability insurance is the name given to on-hook towing insurance in Texas.
Legal Liability Insurance for Garage Owners
Business owners who own service stations or provide towing services might be protected by garage keepers’ legal liability insurance. When you keep a customer’s vehicle in a covered area for parking, storage, or service, it must be protected. Keep in mind that Texas refers to storage facility insurance as garage keepers’ legal liability coverage.
Workers’ Compensation Insurance
Workers’ compensation insurance, usually referred to as workers’ comp, is a type of insurance that all kinds of enterprises and sectors are required to carry. When an employee gets hurt at work, it typically pays for their medical bills as well as a portion of their lost salary. Additionally, it can shield businesses from claims based on working conditions.