Melbourne, Fla.—Choosing the right types of commercial auto and truck insurance protects you from having to pay for repairs or medical bills caused by an accident, and most importantly, it can protect you against uninsured drivers. If your company operates one or a fleet of 18 wheeler trucks, here are the types of insurance you may need to consider:
Motor Truck General Liability Insurance
Trucking general liability insurance covers legal defense fees, court costs, and settlements or judgments if a client sues you. It also covers accidents or damage that may happen at your company's place of business. You must be aware of its limits and ask your insurance agent about the possible need to add an umbrella coverage, depending on your type of operation and its risks.
Truck business owners who drive their 18-wheeler vehicles without a trailer or with an empty trailer, bobtail insurance or deadheading insurance is a necessity. It oftentimes is confused with the Non-Trucking Liability coverage which may cover some of the loss, but not at much as the Bobtail Insurance.
Mechanical Breakdown Insurance
Managing out of pocket expenses can become a real issue. This type of truck insurance covers them, if repairs are needed to continue your operations.
Motor Truck Cargo Insurance
This type of insurance can provide coverage on freight or commodity and liability for cargo. This option can include coverage for losses that occurred from fire, collision, or striking. Sometimes this also includes coverage to pay for debris removal and prevention of further loss to damaged cargo, legal defenses, and freight charges lost by the customer.
Motor Carrier Insurance
Provides protection for your trucking business when you are using permanently leased independent contractors.
Non-Trucking Liability Insurance
Provides coverage for the use of a truck for non-business purpose when using your truck on days off.
Optional Downtime Coverage
This type of coverage provides you with financial protection in situations that will keep your truck out of the roads for some time.
Limited Depreciation Coverage
If your vehicle is declared a total loss after an accident limited depreciation coverage can help to cover the gap between the fair market value that the insurance will likely pay out and what you owe on the vehicle, or the cost to replace the vehicle.
Passenger Accident Insurance
Provides coverage for the driver if an accident occurs while an uninsured passenger is in the vehicle.
Physical Damage Coverage
Provides coverage to protect your commercial vehicle when physical damage occurs, including collision, comprehensive, fire and theft, and others.
Provides coverage of repairs, or replacement, of vehicles that are not owned by your business if they are damaged by collision, fire, theft, explosion, or vandalism when they are towing or hauling.
Supplemental Towing and Clean Up
Provides additional insurance coverage for towing businesses and cleaning up of pollutants and other debris.
Trailer Interchange Agreement Insurance
If you don't own your trailer, you need trailer interchange insurance to cover physical damage to your truck.
As commercial vehicles and truck insurance brokers located in Melbourne, Florida, we extremely happy to offer you the benefits of working with us in the Space Coast area.
Contact one of our local commercial/truck insurance agents to find out what options are available for your trucking and transportation business in the Palm Bay area, and help you start saving on the protections needed to keep it always afloat. Melbourne Truck Insurance has the products and underwriting experience that meet the insurance needs of your business.
Give us a call for a FREE consultation (321) 329-5556, at Melbourne Truck Insurance.
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