What is trucking insurance?
Trucking insurance is a specialized type of commercial insurance designed to provide coverage for businesses and individuals involved in the transportation of goods using trucks. It offers protection against various risks, including damage to the truck, cargo, and third-party liabilities arising from accidents or other unforeseen events during transit. This insurance is essential for trucking companies and owner-operators to mitigate potential financial losses and legal liabilities that may arise in the course of their operations.
What does trucking insurance cover?
- Liability Coverage
- Physical Damage Coverage
- Cargo Insurance
- Medical Payments Coverage
- Non-Trucking Liability Coverage
- Truck Rental Reimbursement
When shopping around and comparing policies among insurers, here are some things to look for and ask about:
- What are the deductibles? Be sure to compare deductibles closely among insurers, just like you do with health, vehicle and facility policies.
- Does the insurance company offer one or more types of cyber insurance policies or is the coverage simply an extension to an existing policy? In most cases, a stand-alone policy is best and more comprehensive. Also find out if the policy is customizable to an organization.
- How does coverage and limits apply to both first and third parties? For example, does the policy cover third-party service providers? On that note, find out if your service providers have cyber insurance and how it affects your agreement.
- Does the policy cover any attack to which an organization falls victim or only targeted attacks against that organization in particular?
- Does the policy cover non-malicious actions taken by an employee? This is part of the E&O coverage that applies to cyber insurance as well.
- Does the policy cover social engineering as well as network attacks? Social engineering plays a role in all kinds of attacks, including phishing, spear phishing and advanced persistent threats (APTs).
- Because APTs take place over time, which can be months to years, does the policy include time frames within which coverage applies?
If you’re interested in trucking insurance coverage for your business, please fill out the form below.