If you have flatbed trucks, you spend a lot of hours on the road – and let’s face it, the road isn’t always the safest workplace. Whether you’ve got a couple of trucks or you manage a fleet, it’s important to make sure that your trucks are protected by the right flatbed truck insurance. But that begs the question – what insurance do you need for a flatbed truck? We’re going to go over four coverages you can consider for your business.
4 flatbed truck insurance coverages to consider.
1. Auto liability insurance.
This is definitely a major coverage that truckers have to think about. It helps you cover your legal obligation to the other driver if you’re at-fault in an accident, and it can help you cover legal expenses if you get sued. There are two different parts of auto liability insurance:
Bodily injury liability: Bodily injury liability covers the medical expenses, lost wages, and pain and suffering of the other driver if you injure someone in an accident.
Property damage liability: Property damage liability covers the repair or replacement of the other driver’s car if you’re at-fault in an accident. It also covers other property that you might happen to damage in a collision.
Example: You’re driving in some pretty heavy traffic and you rear-end the car in front of you. Auto liability can help you cover the medical expenses of the driver and the repairs of their car.
2. Physical damage insurance.
The point of auto liability insurance is to protect other drivers on the road (well, and your bottom line if you get sued.) But it won’t cover damages to your truck if you’re in an accident or if something else happens to it. That’s where physical damage insurance comes into play – this is the flatbed truck insurance coverage that will help you protect your investment in your truck.
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There are generally two parts to physical damage insurance:
Collision coverage: Collision coverage helps you repair or replace your flatbed truck if you’re in an accident or if you otherwise collide with something.
Example: You accidentally run a red light and get into an accident. Collision coverage covers the repairs to your truck so you can get it back on the road ASAP.
Comprehensive coverage: Comprehensive coverage help you repair or replace your flatbed truck if something other than an accident damages it. For example, it covers losses like fire, vandalism, falling objects (like trees), and animal strikes. It can also cover your truck if it gets stolen.
Example: You pull over at a truck stop and get out to take a break and stretch your legs. When you return, your flatbed truck has been stolen.
3. Cargo insurance.
As a flatbed trucker, you might have some pretty hefty loads. And those loads could be very valuable. Fortunately, there’s a flatbed truck insurance coverage to cover your liability for the load. Cargo insurance protects the load you’re hauling against losses like theft, fire, or collision. It can also help you cover the costs of cleaning debris and such off the road.
The law and the contracts that you carry could require you to carry certain levels of cargo insurance, which is why it’s important to make sure that you’re aware of any requirements you might have. Make sure that your limits of coverage are high enough to protect yourself in the event of a loss that damages the cargo you’re hauling.
Example: You’re driving along the highway when it starts to rain. You skid out and the truck overturns, spilling your load of building materials all over the road and essentially destroying it. The most important part, of course, is that you’re okay, but the cargo…not so much.
4. Trucker’s general liability.
General liability insurance can help you against claims of bodily injury or property damage caused by the day-to-day operation of your business or the services you provide. It can help you in the event of a claim that happens at a loading dock or at a job site if you’re helping with loading and so on. It’s a good idea to consider general liability when you’re getting insurance for your business and see if it’s the right fit for you.
Now, these aren’t the only insurance coverages you can consider for your flatbed truck. However, they are some important ones. To get started with commercial auto insurance quotes for your flatbed trucks and to find out what coverages are right for you, fill out our online quote form or give us a call today.