Car hauling is one of the most lucrative trucking jobs in the industry. Unfortunately, it can also be one of the riskiest in terms of liability. They transport anywhere from two to eight vehicles at a time. As a result, these vehicles are large and expensive. If yours is damaged in an accident, it can really put a dent in your bottom line. If you haul brand new cars, you could be liable for thousands of dollars in damage if something happens to the vehicles during transport. Not only that but you have theft and vandalism to worry about when you haul new cars. Brand new vehicles are a major target for thieves who raid them for parts.
It is important to learn as much as you can about car hauling insurance to make sure that you are adequately covered. Getting more knowledge about it will help you find the right product at the right price for your budget. To help you out, we’ve put together this list of car hauler FAQs.
Do I Need Car Hauler Insurance?
Are you wondering if you need it? If your business moves multiple cars from one place to another, then you need this insurance. Examples of common businesses that require it include:
- Auto repair shops that pick up and deliver vehicles.
- Car manufacturers that ship automobiles from factories to dealerships.
- Towing companies that use flatbed trailers to move cars that cannot be towed.
- Any other business that hauls more than one car at a time.
What Kind Of Coverages Do I Need?
It is important to choose the right car hauler insurance coverages. Make sure you buy insurance that will protect your truck, the vehicles that you transport, and other automobiles and property. Here are some of the most common car hauler insurance coverages:
- Underinsured or uninsured motorist – Covers you if your vehicle is hit by an uninsured or underinsured motorist.
- Comprehensive and collision (a.k.a. physical damage) – This insurance can protect you in the event of a collision or accident (that’s the collision coverage.) It can also provide payments for theft, fire and other covered events (that’s the comprehensive coverage.)
- Property damage liability – This insurance can help with claims that arise from property damage. An example of a property damage claim is if your driver hits a mailbox in a residential area.
- Bodily injury liability – This insurance can provide payments to other persons who are injured in an at-fault accident.
- Medical payments – If you or your driver is injured in an accident, this coverage can help pay for medical expenses.
- Cargo coverage – Additional coverage for the vehicles that you transport.
What Things Affect My Rates?
There are many factors that can affect your car hauler insurance rates, including:
- The location of your business.
- How far you transport vehicles.
- The number of vehicles you transport.
- The size of the vehicles that you carry.
How Can I Get Cheaper Car Hauler Insurance?
The best way to get cheaper car hauler insurance rates is to shop around. It pays to compare rates. Rather than calling several different companies to compare rates, simply fill out this online form whenever it is convenient for you. Let us do the leg work for you and compare car hauler insurance rates. Prefer to talk on the phone? Give us a call – we’re happy to help.