Additional Coverages and Who Should Consider Them
Commercial truck insurance may not be sufficient in some situations. Here are a few additional coverages to consider:
Commercial truck insurance covers tractor trailers, cargo vans, trucks, and more. Generally, if a vehicle has a gross vehicle weight (GVW) of over 26,000 pounds, that vehicle could be covered under commercial truck insurance. It may also cover trucks and tractor trailers over 33,000 pounds that operate in multiple states and conduct interstate commerce. Although not as common, any vehicle with a company logo may be eligible for truck insurance.
In Massachusetts, commercial trucking insurance has a risk pool determined by garaging zip codes. These are guaranteed coverage even if a company has been declined by another market.
Like every truck or fleet, each insurance premium will be unique. Factors that affect insurance costs include driving history, location, fleet size, type of usage and type of trucks being insured. According to Commercial Truck Insurance HQ, the average yearly cost for one truck is $13,792 and most premiums range from $11,037 to $15,071 annually.
Commercial truck insurance may not be sufficient in some situations. Here are a few additional coverages to consider:
Primary/General Liability – Protect your company against third-party claims of property damage, bodily injury, or advertising injuries/reputational harm. Oftentimes, trucks can cause more damage and prove significantly more expensive to repair, following a collision.
Physical Damage – Physical damage is a general term for vehicle insurance coverages. It includes collision insurance, which covers collisions, overturns, and rolls; and comprehensive insurance, which covers other scenarios, like if your vehicle is stolen or hit while parked. (Source: Progressive and The Hartford)
Motor Truck Cargo – Cargo is at risk during the loading process, in transit, in storage, and throughout the final distribution stage. Truck operators need cargo insurance to hedge against damage and destruction of goods along the way.
Motor Truck Liability – Motor truck liability covers incidents that happen outside of a truck. A few examples: A client slips on ice outside the business office, products were delivered to the wrong place, a driver gets into a physical altercation at a truck stop.
Non-Trucking Liability – This covers your vehicle when you’re not under dispatch, i.e., using a truck for personal use. This will also cover a situation where you’ve leased a vehicle, but your lease hasn’t started yet.
Trailer Interchange – Insurance that covers physical damage to a trailer, regardless of if it’s owned or rented. This coverage only covers the trailer, not the cargo being transported.
Medical Payments – Medical payments coverage is also known as medical or MedPay. It offers payment for anyone riding in a truck that was in an accident and can cover long-term suffering if needed.
Uninsured Motorist – This covers your truck or trucks if a vehicle without insurance hits or damages it.
Workers Compensation – Massachusetts workers comp ensures that all workers are protected if they are injured at work or contract a job-related illness. It’s a required business insurance in MA. For truckers, this can cover accident-related injuries, injuries from loading or unloading cargo, and falls when entering or exiting the truck.
Trucking Umbrella Policy – Covers any gaps in between policies or when liability insurance limits are too low. Umbrella insurance is especially important for the trucking industry because truck accidents can cause an immense amount of damage and injuries.
There are a variety of filings that various businesses that depend on trucks may need. Here are a few common fillings.
Note: C&S can help companies navigate the process of preparing for a federal filing.
Outside our regular business hours, press “9” when prompted, to reach our 24/7 call service or contact your carrier directly.
There are a variety of add-on insurances that fall under truck insurance. Some companies may bundle multiple types of insurances listed below.
C&S covers every city in Massachusetts and is licensed in all 48 states.
C&S Insurance has exclusive access to markets and programs that other insurance brokers don’t have. We have agents who possess a combined 20 years of experience in the commercial transportation insurance business. We’re a local company invested in our community. We take the time to get to know each of our clients and always work hard to secure the best possible coverage and rates.
We provide complete coverage for your commercial truck insurance needs so you can keep your mind on your business knowing you’re covered. You can speak with an agent about your coverage at any of the following locations:
For our commercial clients with large fleets, we’re able to execute RMV errands on your behalf. Our ability to complete many commercial plate transactions in-house is another plus point for busy owners and their teams. While we can’t handle all RMV transactions, here a just a few that we can: new plate issuance, license plate transfers, MA plate renewals and returns.