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Commercial Trucking Insurance for Los Angeles and Greater Southern California
Driving a commercial truck usually means profit. However, to make money, you must provide committed, responsible services. One of the best ways to protect your interests is to carry trucking insurance. Coverage is different from standard auto insurance, however.
Come to Cal-Society Insurance Services Inc. and we’ll offer you a quote on top-rated trucking insurance today. Don’t hesitate to contact us at 800.773.1663 or request a quote online right now!
What is commercial truck insurance?
Commercial trucking insurance can insure both the business and operational aspects of trucking. Truckers occupy something of a hybrid insurance world. They are businesses that operate vehicles. They’ll need a mix of both car and business insurance. Therefore, standard car insurance won’t work for them. However, they’ll need many of its common benefits.
How does commercial truck insurance work?
You don’t want to have a wreck in your truck. You also don’t want it to get stolen, or for cargo inside it to get damaged. If accidents occur, however, then a trucking insurance policy might be able to help you. Coverage can pay for many of the unexpected damage you might experience during unavoidable accidents. You’ll protect your vehicle and your business financially following a damaging accident.
What kind of insurance does an owner/operator need?
Depending on your unique needs, you’ll need different types or amounts of trucking insurance. For example, you might drive for a trucking company, operate as an independent contractor, or even own your own business. Your policy will have to address the risks you face in your line of work.
Coverage to ask your agent about includes:
Liability coverage: Often, you must carry auto liability insurance. It will pertain to the damage you might cause to others in case you are at-fault in a wreck. California requires drivers to carry at least:
- $15,000 bodily injury/death coverage per person
- $30,000 bodily injury/death coverage per accident
- $5,000 property damage liability coverage
The bodily injury coverage pays for third party injuries. Property damage coverage insures their damaged or lost personal property, like their cars.
Please note: Truck drivers might face extra liability requirements based on their specific operations.
Non-trucking liability insurance: You need this coverage because trucking insurance might not cover you in case of an accident on your personal time. Coverage will pay for your at-fault responsibilities if you are using your truck on personal business. Again, coverage requirements will apply.
Collision coverage: Following a wreck, you can use this coverage to pay for damage to your truck. Your coverage might pay your vehicle’s replacement cost or its actual cash value.
Comprehensive insurance: This coverage applies to vehicle damage from non-accident hazards. For example, truck fires, weather damage, theft and vandalism losses might all have coverage.
Inland marine insurance: When you transport business materials, this coverage might apply to them. Expensive items like computer systems, medical equipment and client possessions in your care might benefit from this coverage.
Cargo coverage: Cargo coverage is a type of inland marine insurance. You will transport belonging to other parties. Therefore, damage to cargo might cause them losses for which they blame you. Cargo insurance can help you compensate them for their losses.
Uninsured/underinsured coverage: Sometimes, another at-fault driver might not have appropriate liability insurance for your own losses. With this coverage, you can help you use your own policy to pay for such liability losses.
Pollution liability insurance: If a wreck or cargo spill contaminates the local environment, this coverage might help you pay for cleanup, regulator fees and more.
Medical payments insurance: If you get hurt in a wreck, you might use this coverage to pay for your medical bills. Certain medical policies will also cover lost costs like income and death benefits.
Additional Commercial Insurance Options
Beyond vehicle insurance, your trucking company might also need business coverage. you might need:
- Property insurance: Coverage can apply to your office, loading yards and possessions you own.
- General liability coverage: If you cause property damage or injury to clients through normal operations, you might need this coverage. For example, if a client falls when visiting your office, then you might have to pay their medical bills.
- Workers’ compensation: Most states require businesses to offer this coverage to employees injured on the job. Coverage might help them pay medical bills or supplement their income. If an employee gets hurt in a truck wreck, they might qualify for this coverage.
How much insurance does a trucking company need?
There is no perfect formula to determine the exact amount of trucking insurance you need. However, keep a few things in mind when selecting coverage limits.
- You will need enough coverage to replace your truck in case of a total loss. Some policies will pay your truck’s full replacement value at the time off loss. Others will only pay the truck’s depreciated cash value at the time.
- Ensure that your cargo insurance will cover the appropriate value of the lost items.
- Select deductibles that won’t put you in a challenging financial position should you have to file a claim on your policy.
- Always carry liability limits high above the limits required by your state or driving authority. Usually, limits above $100,000 are the place to start.
Talk to one of our agents about your needs and operating specifics. We can help you search and compare numerous trucking insurance policies to determine the one that is the right fit for you.
How much does semi-truck insurance cost?
The price of your trucking insurance will depend on multiple factors. Some of the risks that your insurer might use to determine your premium include:
- Your history of claims with other insurers
- The type and value of the truck you drive
- How many drivers will operate the vehicle
- The limits and deductibles you choose for your policy
- Where you work and how much you drive
- The type of cargo you carry
We’ll work with you establish a full understanding of your needs, concerns and risks. We can ensure you get coverage for any specialty risks, but we will compare multiple policy options to ensure you always pay a fair, affordable policy premium.
Contact us at 800.773.1663 or request an online quote now. Cal-Society Insurance Services Inc. is here and ready to help whenever you need it.