Trucking-related Insurance Coverages
Auto Liability covers your for third party damages or injury. This coverage is required by federal and / or state regulations. Owner operators may be covered under their employers or may be required to secure their own coverage.
Physical Damage covers your truck and / or trailer from damage resulting from an accident, fire or theft. The cost depends on the value of your vehicle but is not required by law. Be sure not to over insure your equipment as you will only receive the actual cash value at the time of a loss regardless of what you may have it insured for.
Truckers General Liability (GL) is what protects you from accidents that may occur while the truck is parked. If you cause bodily injury or property damage to someone or something on your premises or while you are unloading a trailer away from your premises, this will cover you.
Cargo Coverage protects freight in transit. This covers against damage or loss with certain limitations. Make sure to ask your agent about exclusion that may affect you.
Non-Trucking Liability (sometimes referred to as bobtail or deadhead coverage) protects you when you are not pulling a trailer and are not covered under your own primary liability.
Non-Owned Trailer Liability covers you while you are pulling a trailer not owned by you
Terminal Coverage protects freight located at specified terminals in the event of a loss. Typically there are time limitations related to this coverage. For example: 72 hours maximum per specified load. If the goods are stored longer than the terminal time you would most likely want to purchase Warehouse Legal coverage. This amount of coverage is dependent on the total amount of goods stored/docked/off-loaded at any one time.
Warehouse Legal coverage protects goods stored at specified locations in the event of loss. For example as relates to theft, fire, sprinkler damage. This amount of coverage is dependent on the total amount of goods stored at the location at any one time.
