Insurance For Truck Drivers – The Coverage You Need

First, truckers, tractors, and trailers, are insured as commercial equipment and not automatically afforded the coverage extensions of a personal auto policy. Electronics, loading equipment, load securing equipment, rental reimbursement and personal property are insured differently and are not automatically covered.

Commercial Auto Liability is pretty straight forward. If a trucker has ICC Authority, a filing for proof of financial responsibility will be given to the Feds. Filings are what keeps a trucker compliant with federal (ICC) authority requirements. Uninsured / Under Insured Motorist is also helpful for a trucker that has been injured by a vehicle with out insurance. Medical payments are useful when some one is injured in and on your truck.

Cargo insurance covers the truckers' responsibility for others goods he is hauling. There are 3 different forms or policies: Named Perils and Theft which is narrow in coverage, Broad Form which adds certain coverage to the basic form and All Risk coverage which offers coverage for all causes except excluded by language in the policy. Regardless of the form, There are certain coverages a trucker would need. Truckers should buy cargo coverage equal to the highest value of goods they haul. Some policies have a co-insurance clause that can limit coverage limits if you are hauling a higher value load than the limit insured on your policy.

1) A refrigerated carrier would need Reefer Malfunction or Reefer Breakdown coverage to cover the damage from freezing or spoilage incurred if his reefer unit breaks down. Remember to find out if the policy covers a mistake in setting the temperature control device. Most reefer policies only cover in case of a unit breakdown or malfunction.

2) A flat bed carrier should have a wetness coverage or endorsement in the event his load is damaged from rain or snow. Most policies have a tarpaulin endorsement that limits coverage to loads that are properly covered. Sometimes a tarp can be damaged or blow loose due to no fault of the trucker resulting in damage to the load that may not be covered unless wetness coverage is added. Coverage for tarps, chains and binders is also desired to replace stolen or damaged binding equipment that are not other wise covered.

3) A dry van carrier would be advised to make sure that shifting of a load is covered. In this type of operation, larger and longer trailers are used and load securing equipment can fail. These instances are rare but do happen.

Every trucker should have earned freight coverage on his cargo policy. This coverage pays for lost revenue when he is not able to deliver his load due to a covered loss. Disposal and cleanup coverage for a loss should be at least $ 10,000.

Physical Damage coverage is generally to repair the tractor and trailer in case of a covered loss. This coverage is insured on a stated value. The value set for the equipment is the truckers responsibility. The insurance company will pay a loss based on equipment …

What Types of Insurance Coverage for the Ice Cream Truck Business?

Ah, the wonderful sounds of summer: the joyful chirping of birds, the slap of the seashore, the laughter of children frolicking outdoors – and the chiming tunes notifying neighborhood kids of all ages that the ice cream truck has arrived.
Ironically, that happy sound of music announcing the ice cream truck brings untold sadness to some. For the mothers, fathers and siblings of those kids killed in a related accident, the sound will never be reconciled with.

Although accidents can occur and associated insurance coverage can come with financial shielding, the dangers associated with this type of mobile frozen confection store and excited children looking forward to a favorite treat need careful consideration. There are things that parents, caregivers and ice cream truck operators can do to mitigate the risks of fatalities and serious injury. These include installing more mirrors on the vehicle and a safety bar to block children from getting in the blind spot's way, as well as other safety mechanisms.

As far as the insurance companies are concerned, any equipment installed to prevent accidents may result in some form of discount on a commercial auto premium. It can also make lower rates on an already-discounted insurance package that combines commercial auto insurance with a business owners policy.

For reading convenience, we've listed the various forms of coverage related to this business below.

Special Commercial Auto Insurance for the Ice Cream Truck Business

• Commercial Auto Liability Coverage
Every US state requires commercial auto liability coverage to protect businesses from bodily injury liability when an accident occurs. This coverage also protects from property damage liability when the other car is damaged or when buildings or other property is damaged.

• Collision Coverage
If the driver of an ice cream truck caused an accident resulting in damage to his or her own truck, this insurance will help with the costs of repair or the costs to replace the truck if repair work is not an option.

• Medical Payments Coverage
This insurance will help pay for medical costs if the truck driver or passenger is hurt in accident.

• Uninsured / Underinsured Motorist Coverage
Uninsured or Underinsured Motorist coverage can help pay for damages incurred to the truck by another driver if he or she is either uninsured or underinsured and cannot fit the repair or replacement bill entirely.

For further information on insurance – commercial auto or business – speak to a professional independent agency that has its customers' interests at the forefront.

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Semi Truck Finance – Bad Credit

Did you know that if you are interested in purchasing a semi truck, it is now easier than ever to find the perfect one for your business, dealership, or fleet, even in these tough economic times. If you are a company driver and you are tired of all the nonsense you have to deal with working for someone else, you should definitely consider getting your own transportation business. Besides, why make money for someone else?

Go out there and get your own vehicle. Even with bad credit you will be better off with your own business. Commercial truck financing with bad credit provides trucks for acquisition & buy out of equipment that were repossessed before.

Loans for folks with bad credit helps borrowers with the finances who want to buy a truck. Commercial loan financing can help you with the loan that you need.

If you have bad credit there are many places that can arrange a loan for you. The commercial truck loan should be one that you understand and one that you are most comfortable with. Experienced companies understand the finance market and what is needed to get you low-interest rates and fast approvals. Most trucking companies have programs to train you to be a trainer but you will need to have a certain amount of truck driving experience under your belt. How the truck driving industry is changing and the myths associated with the industry are exactly what they are, just "myths". Whether you are a seasoned owner operator, a company semi driver or a semi driver who has just obtained a CDL license, there are thousands and thousands of off lease semi's and repos waiting for you to take over the payments. Some drivers own a semi and are their own boss; others drive for others and have set hours and destinations. Ask yourself this question; what kind of trucker do you want to be?

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