Insurance 4 Insurance

Insurance for many new trucks and SUVs can be quite costly. That’s because, although you’re you do: As a class, trucks are stolen much more frequently than typical cars.

Companies that insure motor carriers, trucks, and drivers are not all the same. Some sell through independent agents, others through their own sales staffs. Some specialize in commercial truck insurance, while others sell it as one of a secondary line of coverage’s they offer. Some companies specialize in specific niches within the motor-carrier industry, such as large fleets, temperature-controlled equipment, or owner-operators. Some cover thousands of small customers, while others only handle a few big ones. Probably careful with your pride and joy, other truck and SUV drivers as a group haven’t established an enviable driving record. Worse yet, the bad guys covet your wheels as much as

If you’re an owner-operator, the coverage’s you need will depend on whether you run under your own authority or under someone else’s authority on a permanent or trip lease. If you’re operating under your own authority, you’ll need:
• Primary liability coverage (this includes UIM and PIP)

• Physical damage coverage, which also covers your electronic equipment, tarps, chains, etc.

Normally, when we buy a product we look for the lowest price — if all other things are equal, we take it. The problem with that approach to buying truck insurance is that it can be hard for the layman to tell whether “all other things” are, in fact, equal.

Owner-operators cannot afford to self-insure. The cost of such a policy can vary widely–anywhere from $2,500 to $10,000 per year, depending on your age, the type of vehicle you’re driving, and the type and range of commodities you expect to haul during the life of the policy.

Once you’ve identified several insurers who specialize in trucking, compare how each scores on what can be called the “Five Fundamentals:”

1. How long has the company been in business and how long has it specialized in truck insurance?
2. Does the company have sufficient reserves to cover many expensive claims at one time?
3. What kinds of contingencies and damages are covered by the basic policies? Do these policies offer options that could be adapted to your needs?
4. What is the cost of basic coverage? What is the cost of additional coverage or optional types of coverage?

Non-trucking Liability

Non-trucking Liability is a limited coverage that provides protection for leased owner-operators only while the truck is being operated for personal convenience, and only after you have reached your principle place of garaging before leaving again. NTL does not protect you in situations such as the one you’ve described, or while driving to and from work, or to the repair shop.

Insurance for many new trucks and SUVs can be quite costly. That’s because, although you’re you do: As a class, trucks are stolen much more frequently than typical cars.

Companies that insure motor carriers, trucks, and drivers are not all the same. Some sell through independent agents, others through their own sales staffs. Some specialize in commercial truck insurance, while others sell it as one of a secondary line of coverage’s they offer. Some companies specialize in specific niches within the motor-carrier industry, such as large fleets, temperature-controlled equipment, or owner-operators. Some cover thousands of small customers, while others only handle a few big ones. Probably careful with your pride and joy, other truck and SUV drivers as a group haven’t established an enviable driving record. Worse yet, the bad guys covet your wheels as much as

If you’re an owner-operator, the coverage’s you need will depend on whether you run under your own authority or under someone else’s authority on a permanent or trip lease. If you’re operating under your own authority, you’ll need:
• Primary liability coverage (this includes UIM and PIP)

• Physical damage coverage, which also covers your electronic equipment, tarps, chains, etc.

Normally, when we buy a product we look for the lowest price — if all other things are equal, we take it. The problem with that approach to buying truck insurance is that it can be hard for the layman to tell whether “all other things” are, in fact, equal.

Owner-operators cannot afford to self-insure. The cost of such a policy can vary widely–anywhere from $2,500 to $10,000 per year, depending on your age, the type of vehicle you’re driving, and the type and range of commodities you expect to haul during the life of the policy.

Once you’ve identified several insurers who specialize in trucking, compare how each scores on what can be called the “Five Fundamentals:”

1. How long has the company been in business and how long has it specialized in truck insurance?
2. Does the company have sufficient reserves to cover many expensive claims at one time?
3. What kinds of contingencies and damages are covered by the basic policies? Do these policies offer options that could be adapted to your needs?
4. What is the cost of basic coverage? What is the cost of additional coverage or optional types of coverage?

Non-trucking Liability

Non-trucking Liability is a limited coverage that provides protection for leased owner-operators only while the truck is being operated for personal convenience, and only after you have reached your principle place of garaging before leaving again. NTL does not protect you in situations such as the one you’ve described, or while driving to and from work, or to the repair shop.