Liability Insurance Requirements of Independent Truckers
Becoming an independent trucker or owner/operator is a great way to earn a living while seeing the country. However, if you don’t have the right liability insurance coverage, you may find yourself in serious trouble after an accident, especially if that accident involves injuries. With so many vehicles on the road these days, and with so many distractions, such as smartphones, it’s easier than ever to get involved in a wreck. And the truth is that accidents involving trucks often involve much more damage than wrecks involving passenger vehicles.
Why Are Trucking Accidents More Damaging?
Simply put, due to the size and weight of most big rigs, even a small accident can lead to major damage. Trucks are also cumbersome, and even experienced drivers can make minor mistakes that cause property damage and injuries. This can be from not turning wide enough or even turning too wide. If you drive on the interstates, you’ll likely be faced with steep hills. If your truck’s brakes aren’t functioning properly, this could spell disaster.
Do You Have Enough Coverage?
Something else to keep in mind when thinking about liability insurance is the dollar amount of coverage. When you drive for someone else or for a trucking company, your employer will typically be tasked with ensuring that there is enough coverage. When you work for yourself, however, it’s up to you to stay on top of things. Failing to carry enough coverage may lead to big trouble in the event of an accident or injury caused by your truck. In addition, most states have specific regulations regarding minimum coverage amounts for business owners and independent truckers.
You may also need different coverage amounts for different loads. For example, one amount of coverage may be fine for hauling lumber, but you may need a higher amount of coverage for hauling hazardous materials, such as gasoline. If you only haul one type of product regularly, this might not apply, but if you routinely switch things up, you’ll need to carry a higher coverage amount year round. If you’re not sure what you’ll be hauling next, it would be a good idea to sit down with a liability insurance broker to discuss your situation and needs. Your insurance broker can make recommendations based on all possible scenarios to help you get the right coverage options.
Contact Poms & Associates to Learn More About Liability Insurance for Independent Truckers
Whether you’re just starting out on your own or you’ve been working for yourself for a while, Poms & Associates can help you to find the best liability insurance coverage options for the lowest prices. Our team shops the market place for you, and because we’re independent ourselves, we’re not stuck pushing a single provider’s options. We also take into account the unique needs of your trucking career to find the right coverage. To learn more, contact us today for a free consultation.
Andrew Rusnak is an author who writes on topics that include trucking technology and business insurance.