Progressive Insurance recently rolled out a new program called Smart Haul® that gives qualifying truckers a discount on their commercial truck policy for signing up and sharing their Electronic Logging Device (ELD) driving data. The program provides a three percent discount for sharing ELD data. According to Progressive, most customers save an average of $1,384 a year with the Smart Haul® program. But, should you sign up?
If you are one of the more than 350,000 owner-operators in the United States, then your truck is your livelihood. That is why you want to be sure that it is protected with the right insurance coverage. Choosing the right truck insurance is the best way to protect your business and your investment.
Are you wondering what trailer interchange insurance is and what it covers? And are you wondering if your business needs it? This blog post will help you learn more about this insurance and why it is so important if you drive a trailer owned by someone else.
Do you often use or transport trailers that belong to another person? If so, you might not realize that your liability policy will not provide coverage for physical damage to the trailer while you are driving it. If there is an accident, then you will be responsible for damage to the trailer — unless you have trailer interchange insurance.
If you drive your semi without a trailer attached, then you need bobtail insurance. Bobtail insurance pays for damages that occur while the trailer is not attached to your truck. An example would be if you drop off your load in Detroit, Michigan and pick up another in Pittsburgh, Pennsylvania. Bobtail insurance would cover you between Detroit and Pittsburgh.
Due to the complexity of bobtail truck insurance, there are a lot of misconceptions about what it is and what it covers. It can be hard to determine the truth. Unfortunately, these myths can be costly. To help shed some light on bobtail insurance and save you money, we have put together this list of common misconceptions.
The point of having truck insurance is to save you money. If you are in an accident, having the right truck insurance can save you from expensive lawsuits or having to pay out thousands to fix your truck. However, your current policy may not be the best one for you. There are many good reasons to compare truck insurance quotes, but how do you know when it’s time to do that? Here are some signs that it’s time to compare truck insurance quotes.
You might be happy with your current truck insurance. However, prices and coverages are always changing. Insurance companies introduce new discounts all the time. Plus, insurance companies are always competing to get new customers, and that means that they may offer lower rates.
The good news is that you don’t have to wait until your existing policy is over to change insurance companies. With the vast majority of insurance plans, you can cancel at any time and switch to a new insurance policy. Need some reasons to compare quotes? Here are five of the most compelling reasons to compare truck insurance quotes.
Bobtail and non-trucking liability insurance are often incorrectly referred to as the same. However, there are important differences between the two types of insurance. Not understanding these differences could mean that you are not adequately covered when you need it.
If you drive a semi-truck, in most cases, you probably drive with a trailer attached as you move goods from one place to another. When you are under dispatch, then you will probably be covered under the insurance that your motor carrier provides. However, what about when you drive without a trailer attached? You still need insurance no matter when you drive your truck. So, that means that when you don’t have your trailer attached, you’ll need to get coverage to bridge the gap. This coverage is called bobtail insurance.
As a lowboy trucking company, you haul some of the most costly cargo on the road. On top of that, you’re at greater risk of theft and damage due to the “exposed” nature of that cargo. Having the lowboy insurance coverage you need ensures that your business doesn’t get caught with a bankrupting repair or replacement bill.
But what kinds of lowboy trailer insurance do you really need? Let’s take a look at three coverages you can consider for your business.