Trucking companies across the country have a lot of risks and expenses. Trucking insurance can help cover the costs of damage and other problems that could occur. We will talk about what trucking insurance is and why trucking companies must have it.

What is trucking insurance?

Trucking insurance has more to it than regular auto insurance or commercial auto insurance. There are more risks of accidents and damage occurring due to driver fatigue, delivery deadlines, handling heavy vehicles, and driving long distances. You can choose from various types of coverage to suit your trucking insurance needs.

General or public liability

Just like auto insurance, public liability coverage is required by most states. This covers the driver and the company in case they get into an accident and damage someone’s property or injure another person. Liability coverage will cover the cost of repairs and medical expenses related to the accident.

Physical damage coverage

Physical damage coverage protects the truck and trailer in the event of accidents, natural disasters, vandalism, theft, and many other situations that could occur.

Cargo insurance

Cargo insurance is basically what it sounds like. It covers the products or cargo that the truck is carrying. If something happens, and the goods or product is damaged, then the cost is still covered, so you don’t lose as much money from the lost cargo.

Bobtail insurance

This covers drivers that are under independent contracts when they are not in the process of hauling trailers or products.

Contact Us

If you run a trucking company, you might want to consider some of the trucking insurance coverage types listed above. Contact us at The Owens Agency LLC in Waldron, AR for more information regarding trucking insurance.

The Owens Agency LLC is here to provide trucking companies located in the Waldron, AR area with the necessary trucking insurance. Contact our office today, and let’s set up an appointment to review your insurance needs.

Protect your drivers with comprehensive trucking insurance

A successful trucking company will have many insurance needs. This is due to the number of employees and drivers necessary to keep a trucking company going, along with the cost of equipment and vehicles. This is why trucking companies should review their commercial insurance policies daily.

Protecting your drivers with a robust policy can also help to protect the firm from liability exposure. Another component of this approach is to have sufficient worker’s compensation insurance. All of these policies together can provide the protection necessary to keep a trucking business protected now and in the future.

Trucking insurance provides coverage for accidents, vehicle damage, and theft. Every policy can differ, so it’s essential to understand precisely what coverage a policy provides and what is excluded. To ensure that your company has the protection it needs, it can be helpful to sit down with an insurance professional to determine your unique needs. This will allow you to determine which policy type is right for your needs. This discussion will also help you calculate the level of protection necessary for the company.

We look forward to working with you!

Protect the truckers and decrease the liability exposure of your Arkansas company with a robust trucking insurance policy. The Owens Agency LLC is here to answer any questions and review the available options with you. Contact our office in Waldron, AR today and find out more.

Trucking insurance policies come in various and may include comprehensive, collision, and liability. Each type of policy comes with its benefits and risks, so it’s important to research and shop around to find the policy that best suits your needs and budget. The type of trucking insurance you need will depend on the type of truck you drive and the nature of your business. 

If you drive a large truck that makes hauls between cities, you may need a combination of liability and cargo insurance. Even though cargo insurance is not required by law, it’s one of the most important types of insurance. For issues, check with The Owens Agency LLC in Waldron, AR.

What Various Trucking Coverage Entails 

Liability insurance protects the trucking company if one of its trucks causes property damage or bodily injury to another person. Property/collision insurance covers the truck’s repair cost if it is damaged in a collision or by other causes such as a falling load. Most trucking companies require their drivers to maintain a minimum level of liability insurance, often at least $100,000 per person. Liability insurance covers the costs you might be responsible for in the event of an accident, such as medical bills for passengers or other drivers or repair costs for another vehicle. 

Cargo insurance covers the cost of replacing your cargo if it is damaged or goes missing. Most standard policy limits for liability coverage are between $100,000 and $300,000. You may be able to purchase higher liability limits, but most truckers go with the standard amounts, as they are more affordable. In most cases, the amount of the cargo insurance is determined by taking a percentage of the total value of the cargo. For example, if the cargo is valued at $100,000 and you pick up another load with a value of $50,000, your new cargo limit would be $150,000. 

If your truck is damaged in an accident, your physical damage (PD) insurance will pay to repair it. In the U.S., there are different types of commercial truck insurance plans that you can choose from. These plans differ in coverage, price, and more. For consultations in Waldron, AR, call The Owens Agency LLC.

Being in a car accident is never fun, but there are steps that you can take to ensure your safety, the safety of anyone else in your car, and the safety of any third parties involved in the accident. Immediately after an accident, start by prioritizing moving your vehicle to a safe area away from the traffic. Once done, check yourself for injuries before moving on to anyone else in your vehicle. If you have any concerns that someone is injured, do not hesitate and immediately call for emergency services to be dispatched to the scene. Once your vehicle is out of the way of traffic and you’ve ensured that you are safe, exit your car and check on any other parties. Even if the accident is minor, it is always best to contact the police and request that an officer is dispatched to the scene to complete an accident report. This report is vitally important for the insurance claims process because it often delineates who was at fault in the incident.

Additionally, you’ll want to document everything about the scene. Take photos of where the accident occurred, the damage to your vehicle, and damage to any other vehicles or property. Ask the other driver to provide you with copies of their driver’s license and insurance card. Be sure also to take a photo of the vehicle’s license plate. You can contact your insurance company from the scene if you feel comfortable beginning the claims process. Most insurance companies allow you to do this directly from your phone via their app. 

For more questions on what to do after an accident or learn about our auto insurance offerings, give The Owens Agency LLC in Waldron, AR a call to schedule a complimentary consultation. 

Regardless of your experience and expertise in business, you can never predict the future with certainty. And because we are limited about what will happen in the future, that’s why we invest in insurance to keep our worries in check.

If you are in the trucking business, you know the kind of risks present in this ever-changing business. While your trucks are on the road like other vehicles, they are large and difficult to maneuver, posing a risk to your vehicle, driver and other road users. Therefore, to ensure your business runs smoothly in Waldron, AR, it’s pivotal to invest in trucking insurance from The Owens Agency LLC. 

Why should I invest in trucking insurance?

Investing in trucking insurance comes with many benefits. Some include:

• Protects your truck: Your truck doesn’t come cheap. So, why would you be willing to take chances with your investment? Invest in trucking insurance to protect your truck when stolen or involved in an accident. Because you are never in control of what happens to your truck out there, let insurance take care of your interests.
• Minimize financial losses: One simple mishap is enough to ruin your business finances. For instance, if your truck driver is at fault for an accident that results in the death of a road user, the ensuing liability claims can be too costly for your business to handle from its pocket.
• Improves your business credibility: Taking risk management seriously can woo customers and suppliers alike. Insurance assures stakeholders that their interests are taken care of when disasters strike.
• Promotes business continuity: Unless you have started your business for a short-term purpose, we all like to see our businesses thrive for as many years. Trucking insurance is your backup plan when disasters threaten your business.

Need to invest in trucking insurance in Waldron, AR? Don’t hesitate to get in touch with The Owens Agency LLC for an affordable quote.