There are numerous risks associated with operating a trucking company. In managing large fleets and keeping track of various types of cargo, owners face numerous challenges in protecting their companies. There are several forms of trucking operations insurance coverages that can be used to guard against company losses.
Types of Coverage
One obvious form of coverage for trucking companies in collision insurance, which covers any damages sustained in vehicle accidents. However, the road is only one of many risks involved with trucking. Other types of coverage that trucking companies should consider acquiring include:
- General liability – covers incidents caused by a driver’s actions
- Medical – covers the cost of treating an injured driver after an accident
- Cargo liability – covers theft of and damage to company cargo
- Cyber liability – covers breaches of company data systems
Roadside accidents are not the only incidents that require coverage, and it is important for company owners to acquire a comprehensive insurance package that takes a wide range of liabilities into consideration.
Managing Trucking Risks
There are many variables at play in the trucking industry, but with the right insurance package, company owners can better control some of those variables. From sick employees to broken down vehicles, there are many roadblocks to operating a trucking business, but there are ways to navigate around these obstacles and protect company holdings.