If you drive a truck for work, have a logistics business, or are considering starting a trucking company, it’s paramount to learn more about the benefits of having proper truck insurance.
Truckers and trucking businesses deal with a series of specific issues that are unique to the sector. And therefore, the insurance coverage you need to acquire is different from the policy any other business would get. Although the options for your insurance coverage differ according to the type of cargo you transport and the risks your fleet is prone to, one thing remains true; you need insurance.
Liabilities and risk factors the trucking sector faces
Here is a list of issues that can trigger liabilities that represent some of the reasons why you need to buy insurance for your trucking company.
Negative health impact
Your workers spend many hours behind the wheel driving long distances to deliver the goods your company transports. They have a sedentary lifestyle, and along with the other requirements associated with their job, they can experience a series of health issues.
– They’re predisposed to suffer musculoskeletal injuries because they lift, load, and unload heavy goods.
– They can experience respiratory health issues due to regular exposure to diesel fumes.
– They can suffer from extreme fatigue because they drive for many hours in a row on long distances.
– They’re exposed to hazardous chemicals.
– They can suffer from obesity due to a lack of physical activity.
– They can experience high levels of stress.
– They can have high blood sugar.
Lack of sleep
Truck drivers usually have irregular sleeping patterns that can trigger an inability to get quality sleep or insomnia. Federal regulations establish how long they can operate a truck before taking a break, but irregular sleeping patterns can still affect their health.
Truck drivers work under tight deadlines that can make them take risks to get to their destination quickly. Because of this, they can experience truck driver fatigue that increases the risk of crashes and loss or damage of cargo. The last thing you need is to be held liable for the injuries and damages that occurred in an accident your drivers are responsible for.
Types of insurance you should get for your truck company
Now that you know the risks associated with running this business, here is a list of the most common types of insurance truck companies get.
– General liability protects the company in the case of damage results from something other than a car. You can use it to cover for the injuries or damages a third party experiences when your drivers unload the cargo.
– Bobtail covers the truck when it’s used for personal purposes or dispatch. Bobtail insurance covers the times when your business isn’t covered by primary liability coverage, like the instances when the drivers are returning home after they dropped the cargo.
– Physical damage coverage pays for the truck and trailer repair costs resulting from vandalism, collision, natural disasters, or theft.
You should ask your insurance provider what kind of coverage you need according to your business needs.