All You Need To Know About Commercial Truck Insurance

Commercial Truck Insurance

Whether your business operates dump trucks, box trucks or flatbed trucks, these trucks can be the lifeline of your business. If you get your livelihood from them, choosing the best commercial insurance for your truck would be ideal for you.

Choosing the right insurance for your commercial trucks can be a hard task owing to the fact that it will require an analysis and research to take into account all the risks to be incurred. It involves understanding all aspects of the truck including, types of cargo and routes, and the condition of the truck mechanically.

This will help you to know the right commercial truck insurance that will be suitable for you.

Types of insurance for commercial trucks:

Liability Insurance

This is a policy that compensates for any damage that you may cause while using your truck. In most countries, this insurance is a mandatory requirement failure to which you may be forced to pay hefty penalties.

Bobtail Insurance

It is also referred to as the deadhead liability and covers you only if you are driving on the road back after delivering the goods.

Physical Damage Insurance

It covers all the damages to the commercial truck either by accident, fire, another vehicle or negligence of another party. It caters for all cost of repairs involved

Cargo Insurance

It covers damaged or stolen cargo that is hauled from your truck. For instance, If your commercial truck is hauling thermos flasks and is damaged because of the driver taking a sharp turn, this kind of damage can be covered by this kind of insurance.

Reefer Insurance

This is an extra cover meant to cover for all damages done by the reefer truck failure.
Benefits of having the right Commercial Truck Insurance for your business

There are several benefits that your business can enjoy by having the right kind of truck insurance. The most obvious one is that your business will be complying with the local laws by having this type of insurance. The law requires that you have an insurance for every truck that you drive.


The major benefit of having a good truck insurance is that it protects you and your workers. This kind of insurance also offers protection to your business in general. If your truck was involved in an accident where other vehicles were seriously hurt, the liability of that could rest on the company. If the aggrieved party files a case in court, the judge may award damages that could take all the profits the company had made previously and your business could no doubt be declared bankrupt.

How to reduce the commercial truck Insurance Premiums

There are certain things that you can do that can reduce the amount of monthly truck insurance premiums as discussed below;

  • Make sure that you follow all the rules
  • Hire qualified truck drivers all the time
  • Introduce a safety policy for your trucking business
  • Reduce the number of claims that you file for your truck

If you want to reduce or transfer the risks of your truck in case of accidents, then ensure that you have the right commercial truck insurance for your business.