Transportation insurance- trucking

Auto Liability

Trucking companies are required by law to purchase Auto Liability or Truck Liability Insurance. This insurance provides protection for the motor carrier for legal liability arising out of the ownership, and use of any insured automobile. The minimum limit that can be purchased is $750,000 combined single limit per federal regulations (BMC-91 or BMC-91X), and $500,000 per some STATE regulations. We encourage all clients to strongly consider purchasing $1 million in coverage as it is a common requirement from freight brokerages and shippers. It also affords better protection to the motor carrier as a single accident can produce claims well exceeding either of these totals.

General Liability

General liability (GL) is an important coverage that provides protection for your business for any property damage or bodily injury that might occur, not involving a truck. General liability also can provide premises coverage used for business. Products and completed operations if excluded by the AL policy can also be covered under GL. General Liability will also pay for bodily injury, property damages, personal injury/bodily damage, and medical payments with respect to the policy limits and coverages.

In the event of an accident, general liability shields business owners from expenses like medical costs and lawsuits, making it an essential investment.
When considering insurance coverage options, another important policy to explore is cargo insurance. Cargo insurance protects companies from financial loss due to lost or damaged cargo.

Excess Liability

Excess liability insurance coverage for the liability of a commercial venture above a specific amount set forth in a basic policy issued by the primary insurer, or a self-insurer for losses over a stated amount. It can also provide coverage for a self-insurer for known or unknown gaps in basic coverages or self-insured retentions. The insurance increases the limits of the underlying policy. The coverage is often purchased as a result of FMCSA regulations, contractual demands of a shipper, or in order to provide higher limits to more adequately insure a trucking company.

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