Protect what matters: commercial trucking
Congratulations on starting a trucking business. This is one time your rig is welcome in the fast lane. But before you start cruising past the competition, you’ll want to make sure you have the right coverage. Because commercial trucking insurance can be tricky, here’s a quick guide:
1) DO YOU HAVE OPERATING AUTHORITY?
“Operating authority” means you have official government approval for operating a vehicle or vehicles that haul freight. If that describes you or your company, we have some tips:
BECAUSE YOU DRIVE ON THE JOB:
- You need to carry Commercial Auto. This coverage is required by law. It helps you pay for bodily injury or property damage caused to others by your vehicles while they’re on the job.
BECAUSE YOU WORK OFF THE ROAD TOO:
- You probably want to carry General Liability. This helps you pay for injuries or damages that are connected to your operations but don’t happen on the road. For instance, something heavy could fall off a truck during unloading or someone could be hurt at your business location.
BECAUSE YOU MOVE CARGO:
- You probably want to carry Motor Truck Cargo. This helps you pay for theft, damage or other loss that happens to the valuable property you’re transporting for somebody else. There are two major types: Broad Form (covers a wide range of losses) and Specified Perils (only covers losses specified on your policy).
- You may also want Reefer coverage if you haul perishable cargo that will spoil if your refrigeration system breaks down. (By the way, if you ask a licensed Mylo agent for “reefer insurance,” we promise to keep things professional.)
BECAUSE YOU MAY NOT OWN THE TRAILER ON YOUR TRUCK:
- You probably want to carry Trailer Interchange or Non-Owned Trailer. This helps pay for damages you may cause to a trailer that isn’t your property. (For instance, it could belong to the client whose freight you’re transporting.)
2. ARE YOU DRIVING FOR SOMEONE ELSE WITH OPERATING AUTHORITY?
If you don’t have authority over your rig, you’re probably working for someone else who carries Commercial Auto and other coverages intended for the situations above. But there are still some times when you’re on your own.
BECAUSE YOU DRIVE OUTSIDE OF WORK:
- You probably want to carry Non-Trucking Liability. This helps pay for injury or damages you may cause while you’re driving a truck but not on dispatch. Fun fact: some trucking professionals still use the terms “deadheading” (driving while not carrying cargo) or “bobtailing” (driving without a trailer attached), but because these things can happen during a job too, the insurance industry now prefers “Non-Trucking Liability.”
BECAUSE YOU MAY NEED MEDICAL HELP ON THE ROAD:
- You probably want to carry Occupational Accident. This helps you pay for your medical and other expenses caused by an accident on the job.
BECAUSE YOU DON’T OWN THE TRAILER ON YOUR TRUCK:
- You probably want to carry Trailer Interchange or Non-Owned Trailer. This helps pay for damages you may cause to the trailer you’re pulling.
You wouldn’t step into a truck that doesn’t have all the things you need, like good lights, brakes, and rear view mirrors. But you probably wouldn’t waste money on a bunch of gadgets and bling that you don’t need either. That’s how it should be with your trucking insurance.
Depending on your business needs, a licensed Mylo agent can steer you to the combination that makes sense for you.
Chat with a licensed Mylo agent and get a custom consultation for a business on the move.Let's Talk!
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