Whether they are common carriers or private carriers, these vehicles need to be adequately protected with trucking insurance known as private carrier insurance. And there are several different types of insurance coverage that are required.
Here is a look at the coverage a typical private carrier would need to purchase.
If the company owns the vehicles that are used to transport its goods, it is a private carrier. Unlike a common carrier, a private carrier does not transport goods as its primary business, and it doesn’t have to carry the goods of other companies. A private carrier is not a for-hire carrier and does not tranport the products of other companies as its primary business.
Liability Insurance: If you’re at fault for an accident, liability insurance covers injuries or damage to other people or property. It also will pay for your legal defense expenses if you are sued as a result of your involvement in an accident.
There are two parts to the coverage:
Physical Damage Coverage: Physical Damage refers to two basic coverages that protect your truck. This insurance requires you to choose a deductible, which is the out-of-pocket amount that you agree to pay whenever you have a claim. These are the coverages:
Medical Payments Insurance: This insurance is not available in all states. If you can get medical payments insurance, it will pay medical bills for you and any passengers in your truck in case they are hurt in an accident or auto-related injury.
If you are traveling across state lines, you may need federal or state insurance filings. Known as Financial Proof of Responsibilities, they are a guarantee to the government that you are carrying sufficient truck insurance protection.
Best of all, you can rest assured that we will help you get the right insurance protection at the right price. Unlike our single-brand competitors, as independent agents we're free to shop among many competing insurance carriers to help you get the best deal on insurance. Contact us today to get started!