Your commercial trucks are the heartbeat and backbone that keep your South Carolina trucking business running as smoothly as possible. However, when it comes to the insurance that you are required to have for the trucks that keep your business going, there are many myths and misconceptions floating around. For example, you may have been told that every driver will be covered automatically under the insurance policy or that an insurance policy can be canceled during one of the trucking offseasons.
It is important to have a clear understanding of commercial or owner operator truck insurance in South Carolina. We want to debunk some of the common myths and misconceptions you may have heard about commercial or owner operator truck insurance.
Myth 1: Every Employee Will Be Covered
There are some insurance providers that will not extend insurance coverage to anyone who has not been listed on the policy. If an insurance provider does not allow permissive use, this will mean anyone who drives the truck without being listed on the policy will not be covered. If the provider does allow permissive use and the driver has been granted permission to operate the commercial truck, that driver will be covered.
Myth 2: A Seasonal Business Does Not Need Year-Round Insurance
If any insurance policy is canceled, any stored commercial or owner operator truck will no longer have protection. A business that does not need coverage for certain months out of the year can receive coverage under a Comprehensive Only coverage policy. A Comprehensive-Only policy can provide a business with the coverage it needs from the following:
- weather-related damage
- tree limbs
If you do have a seasonal business, you do not have to cancel your insurance policy in order to save money. If you make the decision to end your insurance entirely, you may find yourself paying a significant amount of money to obtain a new insurance policy. A comprehensive-only insurance policy will allow you to protect the heartbeat and backbone of your business even when it is your offseason.
Myth 3: Every Insurance Policy Is The Same
One of the biggest factors that is considered during one’s search for insurance coverage is price. Sometimes price is the only factor that many businesses consider. However, we encourage you to think about obtaining comprehensive insurance coverage first and think about the cost after you have found a policy that fits your needs.
If you are not sure if your perceptions about commercial or owner operator truck insurance is correct and you would like answers to your questions, please do not hesitate to contact us today for more information.