Do I need Semi Truck Insurance?
Every state requires truck insurance, with different minimum coverage amounts for bodily injury liability and property damage liability. If you still owe money on your semi truck, your lender will need physical damage insurance, which compensates for damage to your commercial vehicle in the event of an accident or another covered risk.
In certain situations, your motor carrier may provide liability coverage. In other circumstances, you’ll need to obtain liability insurance as well as any additional coverages you may need to adequately safeguard your trucking company.
It all began in 1898.
First, the first semi truck was invented in 1898. The next year, it was made for the first time. This is what we call making cars: Alexander Winton was a “horseless carriage” manufacturer in Cleveland, Ohio. When his business sold their first carriages, they wanted a faster way of getting them there.
So, for all the people who haul cars, your semi-trucks are the first ones.
80,000 pounds? That’s a lot.
When it comes to an 18-wheeler, the weight it can hold is up to 80,000 pounds. That’s 23 small cars, or about 450 people.
What is Semi Truck Insurance?
Insuring your semi truck may seem hard at first, but once you grasp the fundamental needs and alternatives, you’ll be well on your way to safeguarding your trucking company, whether large or little – or just getting started.
With about 500,000 truck accidents on American highways each year, driving your semi, whether short or long haul, might seem to be a perilous job. Fortunately, Coast Transport’s team of commercial truck insurance professionals can guide you through the procedure and cover you promptly and inexpensively.
Insurance requirements differ depending on whether your vehicle is part of a fleet or an individual owner-operator. If you are dispatched by a motor carrier, the motor carrier’s main liability trucking insurance protects you for responsibility but may leave gaps in coverage. Coast Transport’s experienced agents can assist you in locating the coverage package you want to get started securely.
What is the Cost on Semi Truck Insurance?
The cost of insuring your semi truck can depend on a lot of different things, including how much coverage you have, what kind of coverage you have, how many claims you have made, and how well you drive.
Using Coast Transport’s truck insurance specialists, you can find the right policy and options to help your trucking business stay in compliance with state minimum insurance regulations. You can also adjust coverage limits and coverage options to meet your own needs. You don’t have to wonder about commercial auto insurance.
When you talk to a Coast Transport’s agent, be honest about the specifics of your business, such as whether you’re a long or short hauler, how many miles you drive, other vehicles that need to be insured, and other things that could affect your coverage. In particular, talk to your agent about how much liability coverage you have. The state minimum required limits are usually thought to be too low for a growing trucking business to be safe from lawsuits, legal costs, and settlement costs, but this is not always the case.
What Other Types of Semi Truck Insurance Do I Need?
To completely safeguard your trucking company, you may expand your coverage to encompass more than just liability protection.
The following extra insurance alternatives may help protect your trucking and transportation business from significant losses caused by a variety of industry-specific risks:
States We Can Offer Semi Truck Insurance
We can help put a competitive semi truck insurance package together for you. We write commercial auto insurance the the following states.