Commercial Transportation Insurance - Its Necessity and Coverage

Posted by One West Insurance Services Inc on May 20th, 2019

If you have a business which deals with transporting people, equipment or any other goods, you might want to consider insurance protection to alleviate risks in the event of an accident. Commercial transportation insurance is what you should look for to serve the specific needs of your business.

Whether you own a large fleet of semi-trucks or deal with public carriers to transport goods that serve your local community, it is important to understand your risks – and your coverage options.

What do commercial transportation policies typically cover?

Having the right insurance coverage can be beneficial in case of an unforeseen event occurs and your business operations won’t bear the full financial impact of the loss.

Commercial transportation insurance companies offer coverages that vary from policy-to-policy, however, mostly that includes coverage for losses incurred from collisions, breakdowns, loading and unloading cargo, debris removal, clean-up and cargo theft.

Whether you are transporting goods/property using your own vehicle or through a public carrier, losses can occur at any time.

Different coverage elements protect businesses in different ways

AUTO LIABILITY COVERAGE

This protects your business if one of your vehicles is responsible for causing an accident. Commercial vehicles are generally larger and heavier than the passenger ones. This can make resulting damages and injuries significantly worse. In many cases, accidents involving large trucks are fatal. In the year 2015, there were approximately 4,311 fatal truck and bus crashes in the United States.

Your automobile liability coverage will defend you against wrongful death claims, pay for damage to other company’s and for medical expense of an individual injured by an accident caused by your vehicle.

AUTO PHYSICAL DAMAGE COVERAGE

This coverage will pay for the expenses of repairing or replacing your own vehicle after an accident or other non-accident covered loss occurs, and for paying medical expenses of your driver.

GENERAL LIABILITY COVERAGE

Your general liability coverage is designed to alleviate your risk of loss for property damage or personal injuries that aren’t directly covered in your insurance. As an example, if someone falls and is injured on your workplace, or if your business is sued for defamation, general liability protection can protect you from financial loss.

MOTOR TRUCK CARGO COVERAGE

If your business involves transporting cargo from point A to point B, you will need a heavy-duty vehicle for that. This type of insurance protects the cargo you are hauling. If you are in an accident and the cargo is damaged or lost, your cargo coverage will protect you by covering up for the loss/damage.

The consequences of being uninsured can seriously your transportation business. Don’t take the risk of derailing your business operations. Get the right kind of commercial transportation insurance right now for your business from a host of certified online service providers.

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One West Insurance Services Inc

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One West Insurance Services Inc
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