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As a small business owner in the trucking services industry, it is essential to be up to date with commercial truck insurance. Despite the shift towards larger firms, insurance can be a bit prohibitive for a startup with only a single or two trucks. There are different options for each type of truck, the risks incurred, good transited and the years of experience of the driver.

Part of the insurance package that you can choose for your business is clearly dependent on different kinds of coverage. With a deeper understanding of how these work, is important in identifying the different options that are needed.

1. Basic Coverage
Basic coverage is inclusive of collision coverage and comprehensive insurance. With collision damage insurance, it will cover the costs incurred for the other vehicle after an accident where you were at fault. It also covers the damages to your vehicle.

With comprehensive insurance, it works the same way compared to regular motor vehicle insurance while covering the cost of repairs to your vehicles. This is up to the maximum value which is covered by other causes than a collision.

2. Specialized Coverage
Different firms which provide commercial trucking insurance have a host of specializing options which you can choose from. It is important to ensure that you cover each possible aspect in which your truck can be involved in. This is without increasing the price to an unaffordable amount.
While adding to the basic coverage, the trucker can also transport cargo on behalf of the customers if they need commercial auto liability.
This provides general coverage in case of bodily injuries and damages to the property of others. The cargo insurance also covers instances of loss or damage of the cargo while the cost being dependent on the type and value of the cargo.

3. Non-Trucking Coverage
Offer kinds of coverage are not directly linked with the transportation of the cargo including non-trucking liability coverage, coverage of personal items on the truck and occupational accident coverage. With bobtail insurance, it is applied after the truck’s load is delivered while the truck is traveling without a trailer or cargo or in case of personal use of the truck.

With occupation insurance, it covers the owner’s operation for the case of accidental death or the dismemberment that occurs during the course of trucking driving.

4. Premiums
The premiums are part of the insurance package which can be chosen as part of the monthly payments paid in advance. The payments can be combined with the truck payments in case you purchase the insurance through a dealer, however, this might turn out to be a bit expensive compared to buying directing from the insurance firm.

The premiums are additionally payable for the duration for the life of the policy. It can be canceled at any time without the cancellation directly affecting your credit score. However, it means that you will be liable for the payment of the premiums before the date in which the cancellation takes place. It is common for premiums to be higher in case you are a driver with a bad driving record over time.

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