Each year, there are over 500,000 accidents involving trucks. You may think your chances of being involved in an accident are slim, but an accident could happen to anyone. Truck drivers are always taught to drive safely, responsibly, and defensively.
However, a majority of the accidents involving trucks are caused by drivers of cars. Drivers of commercial trucks have less control over the situation than they actually want to have. This is why it is so important to arm yourself with commercial or owner operator truck insurance.
Before you make a decision in regard to commercial truck insurance, it is important to perform thorough research because not all commercial truck insurance companies are the same.
The Coverage You Need
Not every commercial truck insurance company and the policies they offer will cover what you need them to cover. The more coverage you have in the policy, the more money you can expect to pay. However, you do not want to overinsure your commercial or owner-operator truck. On the other hand, you do not want to underinsure your truck. You do not want to find out that you do not have enough insurance when you attempt to file a claim after an accident.
Some common types of insurance coverage options you will want include:
- Comprehensive coverage
- Property damage coverage
- Collision coverage
- Personal injury coverage
You do not have to choose the coverage options that are right for the next commercial or owner operator driver; you will need to choose the options that will fit your needs and your situation. There are some coverage options that not every commercial truck driver will need. For instance, if you own a tow truck and operate a towing business, would you need to pay for tow truck insurance since you have your own towing business?
The Claims Process
If you are ever involved in an accident, you do not want to go through a significant amount of downtime waiting for your claim to be processed and finalized. When you research insurance companies, one of the things you will want to learn about the insurance company is how their claims process works. How long does it take to process claims? How do they handle claims?
How Much Will Insurance Cost Me?
As you will learn during your search, commercial and owner operator truck insurance will not be the same for every company. It is important to get as many quotes as you can before making a pivotal decision. We know it can be easy to choose the first insurance company you find or the insurance company that is offering the lowest rates, the first option and the cheapest option may not be the best option.
Performing a thorough check of the insurance companies you are considering will give you the best chance at arming yourself with the right insurance. Anything can happen on the road, but you can be protected with the right commercial truck insurance.
For more information on choosing commercial and/or owner operator truck insurance, please do not hesitate to contact us.
