Commercial or Owner Operator Truck Insurance North Carolina
We know the insurance world can seem very confusing and intimidating at times, but it does not have to be. It is important that everyone understand how their insurance works so they can avoid gaps in coverage and find the perfect policy for their trucking operation. Unfortunately, there are many misconceptions about commercial and owner-operator insurance. We have heard many statements over the years that are based on myths and today we want to dive right into some of those myths.
Myth 1: My Small Business Does Not Need Coverage
Many people are under the impression that only people with big bank accounts need to worry about someone suing them. However, anyone can be sued at any given moment. If you find yourself facing a lawsuit and you are found liable for any damages, you will be mandated to make the payment that has been rendered against you. No one will care that you are operating a small business. Do not believe any of the myths that your business does not have enough revenue to be sued. We encourage you to make sure you have the right insurance and coverage before it is too late.
Myth 2: I Already Have Enough Coverage
A big mistake that many business owners make is assuming the coverage they have is more than enough when it is actually not enough. We know that small business owners have to place a significant amount of time and effort into running their business and they may not have enough time to concentrate on insurance. Many small business owners try to take risks with insurance because they think they will never forget to renew their policy or they believe their coverage is enough. In order for you to avoid these types of mistakes is to speak with your insurance provider before it is time to renew your coverage.
Myth 3: If I Have An Accident, I Will Have No Worries
As you know, not every insurance policy is created like others. Many insurance policies will not cover all the expenses you can incur if you are ever involved in an accident. If you want to make sure you will have coverage during your downtime, you need to have the right physical damage coverage in your commercial truck insurance policy. You will need to determine if you will be covered for emergency expenses, truck rental, etc.
These are only three of the myths that you have probably heard during your search for commercial or owner operator truck insurance in North Carolina. There are several more still floating around. For more information on truck insurance in North Carolina, please do not hesitate to contact us today.