If you own or operate a commercial truck in the state of Florida, you know that accidents can occur, so it’s best to be prepared. Loads can shift. Natural hazards can cause dangerous road conditions. Reckless drivers can create problems. And because tractor trailer rigs are large and heavy, any accident you have with a private passenger vehicle is likely to cause major property damage and injuries.
In Florida, maintaining a commercial truck insurance policy is an important part of an owner operator’s preparedness for the hazards of the road. Here are four things to consider.
1. Insurance coverage in Florida is mandatory
Florida state financial responsibility laws require that every driver have liability insurance. As coverage is mandatory, if you are found not in compliance with state financial responsibility guidelines when you cause damage or injury, the state could suspend your license.
2. An accident with your big rig in can cause major injuries
Even the biggest private passenger vehicle is small when compared to a tractor trailer rig. When the two collide, the results can be unpredictable. The vehicle will be damaged. Passengers will likely be injured and seek emergency room help. They may continue treatment for months, incurring medical bills and lost wages as a result.
3. Personal Injury Protection coverage pays for injuries, but…
Florida vehicle owners must carry Personal Injury Protection Coverage to pay for their medical and lost wages. When a person is seriously injured and losing wages, they can easily exceed the PIP $10,000 statutory limit. When that happens, they will look to you to help pay unpaid expenses.
Even with minimal expenses, Florida tort threshold exceptions to PIP allow injured drivers and passengers to sue you anyway. If accident-related injuries cause a loss of bodily functions, permanent disabilities, significant disfigurement or the person dies, the injured parties retain the right to sue.
4. Injured parties might sue anyone connected with your operation
As an owner operator, injured persons will look to you to pay for the out of pocket expenses they incur. If you are working as a subcontractor or hauling a non-owned trailer, they could also make a claim against anyone connected with your trucking operation. That includes the company with whom you had a contract to deliver, the shipper and receiver of the goods you’re hauling, even the company who loaded your truck.
You need the right rig insurance coverage
If you are an owner operator residing or doing business in the state of Florida, it’s important that you have insurance to cover all of your trucking exposures. Contact us if you would like an owner operator insurance professional to evaluate all of your insurance needs.
