So, you’ve got a flatbed truck…or two. You’re all set to run your business, but now you’ve got a question: what kind of insurance do you need for a flatbed truck? There are a lot of coverages out there for trucks, so which ones should you get for your business? We’ll go over some of the coverages you may want to consider for your flatbed trucks.
Flatbed truck insurance coverages.
1. Auto liability insurance.
Auto liability insurance is kind of the bread and butter of your insurance plan. It’s the coverage that will protect you by covering your legal liability if you injure someone or damage their property in a car accident. Most states require commercial motor vehicle drivers to carry a certain level of auto liability insurance.
- Bodily injury liability: The bodily injury portion of your insurance will cover the other driver’s medical expenses and lost wages if you injure them in an accident. It can also cover legal expenses if you’re sued.
- Property damage liability: This portion of your insurance will cover the repairs or replacement of the other driver’s car if you’re at-fault in an accident. It can also cover other property that you damage.
2. Physical damage insurance.
Physical damage insurance will help you get your truck back to work if it ever gets damaged. (Since your truck is a significant investment, it’s important to protect it.)
- Collision coverage will pay to repair or replace your flatbed truck if you’re ever in an accident (or if you ever collide with something else.)
- Comprehensive coverage will pay to repair or replace your truck if something other than an accident causes damage to it. By that, we mean fire, vandalism, lightning, and falling objects (like trees.) It will also cover theft.
An important note:
Your liability insurance will not cover your own truck if you’re at-fault in an accident or if the truck is otherwise damaged. That’s why physical damage insurance can be valuable when it comes to protecting your business.
3. Cargo insurance.
Cargo insurance will protect the load that you’re hauling. It covers losses like fire, theft, and collision. You’re responsible for the load, so if you’re in an accident and the load is destroyed, you could be on the hook.
4. Trucker’s general liability.
Truckers’ general liability will cover your legal obligation if the services your business provides or its (non-driving) day-to-day operations cause bodily injury or property damage. It’s usually an inexpensive coverage, but it can help you if you’re ever found liable for bodily injury or property damage.
5. Pollution/Hazmat coverage.
Pollution and hazmat coverage helps protect your business if you’re in an accident that causes environmental damage. You could be legally obligated to cover the expenses of cleaning up the environment following the accident. Cleaning up a truck accident and protecting the environment can get very pricey very quickly, and environmental clean-up is usually not included in general liability insurance.
6. Uninsured motorist and underinsured motorist (UI/UIM) coverage.
Uninsured and underinsured motorist insurance will protect you if you’re not at fault in an accident but the other driver either doesn’t have insurance (uninsured motorist coverage) or doesn’t have enough insurance (underinsured motorist coverage) to cover the expenses of your medical bills. You may want to consider this coverage to ensure that you’ll be covered if you’re struck by an uninsured or underinsured motorist. UI/UIM will also cover you if you’re in a hit-and-run accident and the other driver takes off instead of stopping. (It can also help you with covering repairs to your truck if the other driver doesn’t have insurance or enough insurance.)
There are many coverages you can consider for your trucks. Flatbed truck insurance might seem complicated, but it doesn’t have to be. Our truck insurance experts are pros at making insurance easy. We also excel at helping truck businesses save money on their insurance by shopping their rates with different carriers. Get started with flatbed truck insurance quotes by filling out our online quote form or giving us a call today.