Dump trucks are very mechanized vehicles. They also serve specific purposes and carry critical cargo. These vehicles also have significant value attached. you'll need trucking insurance in place when you get behind the wheel. Dump truck coverage will contain many familiar elements of auto insurance. It can also include protection specific to the vehicle as a dump truck. What are some of the most critical elements of coverage you must carry?
Consider the problems you might encounter behind the wheel. Think of what could happen if the truck or its cargo got lost or damaged. Won't these losses likely prove costly? You should thus choose the appropriate types of insurance for your driving risks.
Almost all vehicles need to carry a general auto liability insurance policy. Indeed, this coverage is so important that most states require all drivers, truckers included, to carry minimum coverage.
Liability insurance function as a type of consumer safeguard. It protects both policyholders and other people on the road. After a wreck, you can use liability coverage to compensate those harmed by your mistakes.
Let's say you run into the back of another vehicle while in your truck. The law will likely hold you at fault for the accident. So, the other driver will likely be able to make a claim on your liability insurance to pay for their own losses. All commercial truckers should have enough coverage for the full cost of potential losses (as closely as possible). Generally, the more liability coverage, the better.
Pollution Liability Coverage
Unique to many trucks is the risk of spills from the trailer. In some cases, this spill could involve the loss of harmful or hazardous materials. In the right situation, the spill could pollute, contaminate or damage the area around it. Because the spill came from your truck, you'll likely hold responsibility for cleanup. Even if you didn't intend for an accident to happen, you might still have to pick up the pieces.
Ask your trucking insurance agent to ensure your policy contains pollution liability protection. In the event of spills, a successful claim can help you pay cleanup costs.
Vehicle Damage Insurance
Given that your truck has value, you'll likely want to protect it from damage. A wreck, and the resulting truck repairs, will result in a costly recovery. Rather than digging into profits to afford repairs, include physical damage protection on your truck insurance. Most policies divide coverage into two or three areas:
- Collision insurance pays for damage sustained in wrecks.
- Comprehensive insurance pays for damage received in non-accident mishaps. Covered incidents might include fires, theft or weather damage.
To ensure you have enough protection for your truck, talk to our agents. You'll need enough coverage to protect the value of the truck in case of a total loss. Some policies will pay you the full replacement value of the vehicle. Others will only pay the cash value of the truck at the time of the accident. Your agent can help you determine appropriate protection for your particular vehicle.
Motor Truck Cargo Coverage
The items carried inside your truck have value attached to them. Still, even with insurance you might not have automatic protection for trailer contents. To protect that value, you might need to include cargo protection on your truck.
Cargo insurance usually falls within the confines of inland marine insurance coverage. This protection has nothing to do with water. Rather, it covers items of value during shipping and transport. If you are carrying important materials, even if it's just gravel, it will have value both to you, the shipper and recipients. Therefore, should you lose the items, a claim on your policy might help you repay the losses.
Not all dump truck operators will need this coverage. For example, if you haul junk or trash to a disposal area, this protection might not prove necessary. Still, ask your agent to help you decide if you can use this protection even when hauling low-value items.
Dump trucks don't always operate on dispatch. Even so, you'll need coverage at all times. So, if you use your vehicle for personal travel, verify that you have non-trucking protection among your coverage. Therefore, your policy will remain active even when you are not working.
Don't forget to talk to your agent about whether they offer downtime coverage or rental protection. If you have to stop driving while having the truck repaired, you could face a commercial loss. This coverage might provide you with funds to help lessen some of that blow. A rental coverage policy might help you obtain a substitute truck during the other truck's time in the shop.
With appropriate attention to detail, you can include niche elements of dump truck insurance to protect your business, yourself and your vehicle. It's up to you to decide what coverage is right with you. Talk in-depth with your Georgia trucking insurance agent about the who, what, where, when, how and why you use a dump truck. We're here to help you determine the right policy.