Eligible for Commercial Truck Insurance
You need to know What is Required to be Eligible for Commercial Truck Insurance. The types of coverage you need depend on your business type. In California, commercial trucks must have an MCP-65 filing. Household goods movers must have a TL676 filing that confirms they are carrying the proper liability insurance and cargo insurance. Texas tow truck operators must file Form T. Florida requires FR 44 filings if the driver has a DUI or has less than two years of experience.
Your driving history can have a large impact on your commercial truck insurance premiums. Drivers with accidents or violations have much higher insurance costs than drivers with clean driving records. You should carefully check your drivers’ records during the hiring process to avoid potential risks. Consider adding extra driver safety training to your business’s safety training programs to improve your drivers’ driving records. The cost of commercial truck insurance depends on a number of factors, but you should understand the costs before deciding how much coverage you need.
Commercial truck insurance is required by the FMCSA if you transport freight between states. It is necessary to carry at least $1 million in primary liability coverage. The maximum limit for liability coverage varies with the size of your vehicle and type of cargo you haul. If you haul hazardous materials, the minimum coverage amount is $5,000,000. Regardless of the type of insurance coverage you need, it is important to obtain a quote from several different companies so that you know what to expect.
What is Required to Be Eligible for Commercial Truck Insurance?
The American Trucking Association is an organization made up of state associations and individual members that work to protect highway safety and environmental goals. The National Association of Insurance Commissioners coordinates insurance industry standards and regulatory oversight. The Department of Transportation has the National Highway Traffic Safety Administration (NHTSA) and OSHA (Occupational Safety and Health Administration) provide information on workplace safety. Lastly, the American Trucking Association (ATA) is a group of 157,000 members that is active in the field.
A general liability policy covers the driver’s actions on other people’s property. This coverage does not cover your truck itself. A physical damage coverage policy, on the other hand, covers damages to other people caused by your truck. Physical damage coverage is optional but a wise business decision. For example, if you’re carrying food or other goods, refrigerated truck insurance is important. You might also need medical payments coverage.
Before purchasing a policy, compare quotes from various insurers. Look for lapse-free coverage, and remember that new drivers under the age of 25 are considered comparatively high risk by insurers. Some companies offer discounts for lapse-free coverage. When shopping for commercial truck insurance, make sure to compare rates and policies. Make sure the coverage options and policy limits are adequate for your business. By doing this, you’ll be able to find the best possible value at the lowest price.