Truck Insurance

Truck Insurance

Running a business is both rewarding and stressful all in one. You can help alleviate some of that stress by having the right truck insurance in place for your fleets and drivers. However, it is important that you not only have the right insurance but complete coverage that protects your drivers, cargo, trucks, and your business. At Panorama Insurance Agency, Inc, we will review your current policy to ensure that it meets the needs of your operation and protects you in all aspects of the industry.

Liability Truck Insurance

Your carriers and companies need liability truck insurance no matter how far they travel to deliver cargo. There is a radius clause included in every truck insurance policy that covers you based on the number of miles your trucks will travel. There are three radius options:

• Local: trucks that travel less than 50 miles
• Intermediate: trucks that travel between 50 and 200 miles
• Long Haul: trucks that travel more than 250 miles

If your trucking company needs coverage for more than one radius, we can create a policy with a mixed radius in it, where you are covered for local, intermediate, and long haul based on your needs.

Trailer Interchange Insurance

If you do not own the trucks you use to haul cargo, be sure to secure trailer interchange insurance. This coverage protects the trailers you are using to haul cargo in the event that they are damaged in an accident.

Damage to Cargo

The cargo your trucks haul is just as important as the truck driver in the cab, other motorists, and the truck itself. That is why you need cargo insurance on your truck policy. If the truck is damaged in an accident, this type of coverage will help pay for the cargo should it be damaged in the crash.

Insurance Requirements in California

The California Department of Transportation requires all commercial truck drivers to have coverage that is no less than $750,000 but not more than $1 million. The amount you will be required to carry is based on the vehicle size, how far you will travel, and the type of cargo that will be in the truck.

Workers’ Comp in California

As an employer, you will also be required to carry workers’ compensation in California. Workers’ compensation is a benefit offered by most employers that protects employees should they suffer an injury on the job. These benefits include a prorated portion of their weekly salary paid for a set number of weeks until the employee is able to return to work. If you fail to carry workers’ compensation coverage and a truck driver is injured on the job, you could face a massive lawsuit.

Benefits for Workers and Employers

All trucking companies should also have benefits for workers and employers as part of their insurance policies. These benefits include the following:

• Health
• Dental
• Vision
• Life
• Retirement accounts
• Flexible spending accounts

The Costs of Trucking Insurance

The costs for trucking insurance will vary based on the policies you need for your operation and the number of trucks that need to be insured. For example, a single truck operation will cost much less than insuring a fleet of trucks. At the same time, the number of clauses you add to your policy will impact the overall cost. If you protect the truck, the driver, and the cargo and pick the mileage, you will spend a lot more than only adding coverage for the truck and the cargo.

General Liability Insurance

It is important that you do not confuse general liability insurance with truck insurance. While it is important to have general liability insurance for your company, you cannot only get by with this type of policy. You will also need a truck insurance policy that protects the cargo, driver, truck, and the rest of your operation should an accident happen.

General liability insurance helps to protect other aspects of your business, such as an employee slipping and falling on a loading dock, an employee assaulting a vendor, contractor, or co-worker, an employee being injured by a falling object, and much more.

Types of Trucks That Can Be Covered By Our Policies

When you work with Panorama Insurance Agency, Inc, you can have the following types of trucks covered by our insurance policies:

• Tow trucks
• Semi-trucks
• Box trucks
• Pickup vehicles
• Flatbeds
• Garbage trucks
• Dump trucks
• Heavy trucks
• Straight trucks

Who Needs a Truck Insurance Policy?

You might think that you do not need a truck insurance policy because you do not own a fleet of trucks. However, you need to protect your investment as much as possible, especially if you only have one truck. As the owner of one truck, an accident can put you out of business until the truck is repaired and put back into service. The following should secure truck insurance as soon as possible:

• Commercial trucking business companies
• Truck drivers
• Independent owner-operators
• Any company that has at least one truck in its fleet or operates in the transportation industry

Cargo That Can Be Covered By Our Insurance Policies

Panorama Insurance Agency, Inc, has policies that protect trucks that haul all types of cargo, including the following:

• Furniture
• Produce and other groceries
• Frozen food
• Gasoline and oil
• Wood
• Construction materials
• Livestock
• Vehicles
• Gravel, sand, and dirt
• Concrete
• Containers

This is not an exhaustive list. Contact us today to discuss the cargo your company hauls and find out how we can build a trucking insurance policy for your company. A truck insurance policy can protect you from top to bottom, so your operation does not suffer should an accident happen on the road, at a loading dock, or during any other incident.

Call Panorama Insurance Agency, Inc, Today

Are you in need of a truck insurance policy review? Do you need to upgrade the coverage for your fleet? If so, it’s time you speak to an experienced truck insurance agent from Panorama Insurance Agency, Inc. Call our office at (818) 514-1916, or submit our contact form to schedule an appointment.