 Trucking insurance seems like a costly investment for many companies, but it is one of the most important investments you can make in your business. Like any form of business insurance, this coverage can help to pay for losses that could otherwise shutter your company. When it comes to selecting a policy and ensuring it is one that's ideal for your company, you need to consider the risks. No matter the size and type of truck you operate, there are a few key factors to keep in mind.
What Are The Risks?
Whether you are a new trucking company or an individual operating a single vehicle for commercial needs, trucking insurance is valuable. Every year, about 130,000 people are involved in some type of truck-related accident according to the U.S. Department of Transportation. And 70 percent of those accidents result in property damage. About 22 percent of the accidents cause injury to the drivers, passengers or other drivers involved. And perhaps even more important from a financial point of view is the cost of these types of accidents. The average cost of an accident involving a commercial truck is $59,000. With the right coverage, you don't have to worry about paying those costs out-of-pocket.
What You Can Do To Minimize Costs
Having trucking insurance, especially liability insurance, isn't always optional. Certain forms of liability coverage are a requirement across the country. But there are several things you can do to help defray some of the costs. For example, hire skilled and experienced drivers who are less likely to be involved in an accident. Ensure your vehicle is operating at its best level. And ensure that your business is operating the safest schedule possible. Each of these components can help to keep your costs as low as possible.
Work closely with your business insurance agent to get into the right type of trucking insurance policy. It's especially important to secure a policy that's best suited for the level of liability risk your business carries. Take the time to consider coverage that extends your protections beyond the basic levels. It can make all of the difference if an accident does occur.
Get covered today. Call Southwest Commercial Insurance at (512) 771-6091 for a free trucking insurance quote.
Posted Friday, October 28 2016 11:00 AM
Tags : trucking insurance, truck insurance, injuries, accidents, tips, safety, driving, insurance, Southwest Commercial Insurance
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