The world of rig insurance can get confusing because it seems to have a language of its own. Here are six rig insurance terms to help you get the Florida rig insurance that’s best for you.
Primary Liability Insurance
Primary liability insures you against damage done to other vehicles and the personal property of others when an accident occurs. It also insures you against claims arising from the injuries or death of other people. Primary liability insurance is required by law.
Owner Operator Insurance
An owner operator is a person or company that owns their own truck. It’s an independent business that transports the goods of clients that the owner operator must find on their own. Owner operator insurance is a solution that covers the complete insurance needs of the owner operator trucker.
Cargo Insurance
Cargo insurance covers against the loss or damage of freight carried by your truck. Many companies require truckers to carry cargo insurance when shipping their goods.
Bobtail Insurance
Bobtail insurance covers the tractor when it’s not pulling a trailer. It is in effect regardless of whether the tractor is being used for commercial or personal reasons. Bobtail insurance is sometimes used synonymously with non-trucking liability but they are not the same. Non-trucking liability insures the tractor when it’s not under dispatch. It can either pull or not pull a trailer.
Radius of Operation
This is the distance that a rig will typically travel from its principal garaging. The larger the radius of operation, the higher the premium. An unlimited radius carries the highest premium.
Comprehensive Insurance
When your rig is damaged by something that doesn’t involve a collision, comprehensive insurance will cover it. Coverage includes damage due to fire, theft, extreme weather, and vandalism.
For more information on rig insurance in Florida, contact us at J.E.B. Insurance Services, LLC. We are happy to answer any questions you may have.
