To have or not to have: which insurances are essential for each CV?
Personal damage? Liability? Cargo insurance? Trailer protection? Must have.
There is a wide range of coverage for commercial vehicles on the market. So many possibilities generate doubts when choosing. What to have and what to discard?
In our 24 years of experience as a leader in the trucking insurance market, we have discovered that there are certain aspects that should always be considered. A brief summary.
Commercial cars. The basic coverage for this type of vehicle is one that protects them from liability. That is, it covers injuries or damage to other people and property in the event of being responsible for the accident. This coverage covers: liability, bodily injury and property damage. It is the most basic and must be had yes or yes.
A protected driver. In this case, protection is provided to the trucker and also to the passengers in case of injury while traveling in a commercial vehicle. In this range there is protection for personal injury, medical payments, coverage for injuries to a pet and against uninsured drivers.
And the vehicle? For its transport there are insurances that protect it from accidents and different situations that may affect the commercial vehicle. It is considered: physical damage, collision, fire and theft. In addition, there is comprehensive insurance that covers situations such as fire, theft, vandalism, wind storms, collisions with an animal and glass breakage.
It is important that your policy includes the named individual insured endorsement. What is this? It is a coverage that protects those owners of commercial vehicles who also use them personally.
Attention trucks! In addition to having the same coverage as commercial vehicles, trucks have some items that are specific to the sector.
Motor Truck Cargo Insurance: Insures nothing less than the precious cargo carried by the truck. It covers the driver of possible losses related to accidents, blows or fires.
General motor truck liability: provides protection, for example, when an erroneous delivery that ends up damaged occurs, when the actions of the driver representing the insured cause damage to facilities, loading docks, or truck stops, and even in the case of defamation and slander.
Fundamental: downtime rental reimbursement insurance. Suppose a truck had an accident, it must go through the workshop and it will be idle for as long as necessary. At that time, the driver or owner will lose their source of income, which is the truck.
How do you survive something like this? With this coverage that protects them all the time the truck is off the road.
Trailer swap insurance. Used when using a trailer that you do not own. Since it is not yours, it is not insured under your policy. In this case, it is interesting to consider it since it covers you from damage caused by collision, fire, theft, explosion or vandalism.
Saint George Insurance Brokerage Inc. is Progressive’s Agency. We are leaders in commercial vehicle coverage since 1999. Our services can be contracted in states such as: California, Texas, Arizona, Colorado, Nevada, Illinois, Indiana, Iowa, Kentucky, Michigan, Ohio, Utah, Washington, New York, Florida and Oregon.