3/6/2012 4:01:00 PM by Contractors 1St Insurance
Truckers and Transportation industry customers have a different set of needs when it comes to insurance. For transportation companies, the vehicle is more than just a mode of transportation; it is also their livelihood. It is important to find the right commercial transportation insurance to protect you small or large business in the case of an accident. By doing a little research and evaluating what you really need regarding insurance coverage, you can get the right coverage at an affordable price.
You all always want to look for an insurance broker that specializes in commercial transportation insurance, and can better provide the knowledge and the experience you need to understand the specific needs of your company. Depending on what area of transportation you are in and what type of loads you haul, you will want to cover not only the vehicle you drive but also the cargo you are hauling others that operate on the same road. There a several different types of transportation insurance available to help protect your company from the un-expected.
Types of Transportation Insurance Coverage:
Auto Liability
Auto Liability insurance is insurance that is required by law regardless of the type of transportation you operate in. Auto liability insurance for your commercial vehicle works a lot like your personal auto insurance. This insurance covers bodily injury and damage in case of a vehicle accident. You are able to get seasonable coverage based on each individual project. There is no need to pay for insurance if you are not using the vehicle.
Cargo Insurance
Cargo insurance basically speaks for itself. When you are moving items from one place to another accidents can occur that can damage your cargo. Cargo insurance will pay for the damage that can happen to the cargo. Cargo insurance keeps from having any financial hardships come down on you or your clients. It is important to have the right cargo insurance for every job regardless of the size of your fleet.
General Liability Insurance
General liability insurance protects your company from all accidents that happen outside of the commercial vehicle. This will protect your company from injury or property damage on your property or while using you services. General Liability insurance protects transportation companies from breach of contract. If your company is unable to deliver a load on time and the client sues you for damages, then General Liability Insurance will cover the damage you will face because of the suit.
Workers Compensation Insurance
Workers Compensation Insurance was designed to protect both employees and employers. It will pay medical and wages benefits to employees that are injured on the job.
Transportation companies take Workers Compensation for granted sometimes. While there might not be a lot of immediate injuries from being a driver, there can be many long-term affects of sitting for long periods of time. Injuries like muscle and tendon damage over time fall under workers compensation and the company is liable to pay for benefits.
Most states require that every company with more than one employee have workers compensation coverage. Even if Workers Comp is not required in your state it can be an important coverage to have. If there is no Workers Comp coverage then the company is required to pay the benefits instead of the insurance company.
Go to Contractors1stInsurance.com to find more resources on Transportation Insurance, Workmans Comp, Liability Insurance, and other Insurance for Contractors.