Tom's Blog
While there are many perks of using flatbed trucks and trailers (no special constrictions, easy access, easy to secure cargo as opposed to securing cargo in a four-walled truck) there are just as many inherent risks involved that need to be addressed when considering the insurance protection you need. Find out what you should know about insuring flatbed trucks and trailers.
Driving a flatbed truck means driving and hauling cargo in an opened area which poses a higher risk for liability compared to other trucks on the road. Whether you hit potholes, have to stop suddenly in congested traffic, or you fail to properly tie down the cargo, accidents can happen; hence the need for the right insurance. There are many insurance coverages to consider for the protection of your flatbed trailer, yourself, and the overall safety of others traveling on the road.
Below Are Some Typical Coverage Options to Consider for Insuring Flatbed Trailers:
Physical Damage Insurance- This type of insurance is designed to cover damages to repair/replace your trailer due to damages from a collision (Collision Coverage) or damages other than a collision caused by fire, theft, vandalism (Comprehensive Coverage). This type of trucking coverage is protection for the overall investment of YOUR truck and trailer, subject to deductibles.
Commercial Auto Liability- This type of trucking insurance is designed to not only assist in covering legal expenses that may ensue due to an auto accident caused by you, but also pays for damages for bodily injury and property to others for accidents for which you are responsible. The bodily injury portion of this coverage includes incurred medical expense, lost wages, along with compensation for pain and suffering. Regarding the property damage portion, it will pay up to the limits of liability for damages to other vehicles/trucks or any other property resulting from an accident you cause.
General Liability- This type of trucker’s insurance is to help protect against risks to your business outside of the operation of your truck. It can provide protection for situations such as a “slip and fall” on behalf of a client/customer, a public dispute initiated by one of your drivers at a truck stop, allegations of libel and slander, and deliveries of cargo to the wrong destination, to name a few. Having this type of insurance is vital when it comes to protecting your trucking business.
Cargo Insurance- Hauling cargo safely from Point A to Point B is your job, so it just makes sense to have the needed insurance protection for your cargo. Your loads are most likely valuable and large in size and this is designed to protect the loads of cargo when damaged or destroyed by an accident on the road or by other covered perils to include fire, theft, and vandalism.
Your trucking business may be your biggest investment so why not have the right type of trucking insurance that fits all your unique trucking needs for your flatbed trailer? It is recommended you contact your local N.C. independent insurance agent with any and all questions you may have regarding your flatbed trailer insurance needs. Call us TODAY at 866-869-3335.
