Trucking Physical Damage Insurance
As the owner of a trucking business, it’s important that you make sure you have the right insurance coverage in place. Proper Insurance can cover a number of aspects of damage, including physical damage. Rather than being faced with astronomical fees, repair costs and claims, investing in full coverage trucking physical damage insurance can help keep your business running while taking care of any issues that may arise.
What is Physical Damage Commercial Trucking Insurance?
Physical damage covers any damage that your truck or trailer may receive from an accident, burglary, vandalism, fire, or various "acts of God." There are several types of physical damage insurance that you need to be aware of.
Collision insurance will give you coverage for your truck in case it is damaged in an accident. This type of trucking insurance will pay out the money you need to make repairs to, or completely replace, your vehicle if it should overturn on the road, roll off the road, or collide with another object or vehicle on the road.
Comprehensive insurance will give you protection for your vehicle if it is damaged by something other than a collision with a vehicle or some other object. It will also give you complete coverage in case your truck should be stolen.
In the event that a trucking accident takes place, commercial trucking insurance physical damage will cover any physical damage that occurs to your vehicle. Because these vehicles are so expensive, it’s ideal to be properly insured to value, so your insurance coverage covers the cost of repairs or replacement. This will help streamline the process of keeping your business running, no matter what mishaps occur.
While you may go through a very extensive process to hire and train your drivers, accidents occur without warning. If your driver is involved in an accident, physical damage coverage can protect against claims regardless of whether they were at fault or not.
Customizing Your Policy
There really isn’t a one-size-fits-all approach to securing trucking insurance. What one trucking company needs isn’t what another one may benefit from. That’s why, at StarNet Insurance Group, we can help customize a plan that provides you with the kind of coverage that you require, including physical damage insurance. Being able to tailor insurance coverage to the needs of our clients is something that we are proud of. Whether one of your trucks slides off the road because of weather or something in the roadway causes a distraction, physical damage coverage trucking insurance will take care of most of the expenses that your company faces.
Why Trucking Insurance is Necessary?
In addition to protecting the financial stability of your trucking company, there are some other reasons why you’ll want to invest in the right insurance coverage. This includes:
Compliance With Legal Requirements
Whether your trucking company is operating out of Illinois or elsewhere in the country, there are state and federal authorities that mandate the type and amount of coverage that is required in order for commercial vehicles to operate legally. If you were to be involved in an accident and did not have coverage in place, this could result in the suspension of your business. It could even shut your company down if you’re unable to generate profits for an extended period of time.
Identifying Risks
There are a lot of risks associated with working in the trucking industry and operating a company in this field of work. Accidents, damage to cargo, inclement weather and other issues can all be identified with the ability to customize your insurance coverage. By understanding what your vulnerabilities are, you can not only choose the right coverage but also structure your business in ways that will minimize any potential issues that could occur.
If you’re not sure where to start regarding sourcing trucking insurance for physical damages and beyond, reach out to our team here at StarNet Insurance Group. We would be happy to walk you through the different coverage that is available as well as answer any questions that you may have.