Trucking Insurance Coverage: Life Rescuer for Truckers

Do you own a trucking company? If yes, have you invested on commercial vehicle insurance to help you in dire circumstances? Unlike any other profession, trucking requires utmost dedication where truckers have to spend most time on the roads risking their life and business. For example, when behind the wheels there are chances of the vehicle being damaged especially while driven on the bad road conditions. To save money on the repairs, possessing a valid insurance would be helpful and also would let you breathe easy. Moreover, if you are an interstate trucker, the insurance laws and agreements are authorized under the Federal Motor Carrier Safety Administration. Read this blog to gather additional information on commercial motor carrier insurance and ensure you carry one for betterment. 

  • Physical Damage Coverage: 

It is good to learn that the law does not allow this coverage, as many truck sellers or lenders offer damage coverage when financing a truck. Usually, this insurance coverage includes various types of damages such as theft, fire, flood, etc. Besides, there is insurance coverage providing protection for damages caused due to collision. 

  • Cargo Insurance Coverage: 

 

Most truckers in the U.S apply for the ‘common carrier authority’ with the FMCSA is advised to apply for the cargo insurance coverage, which includes the goods transported for a client too. Moreover, there might be companies having the requirement to carry extra coverage therefore, it is important to consider the requirements before undertaking the journey to avoid any problems.

  • Primary Liability Coverage: 

 

According to the Federal laws, truck drivers are required to carry the minimum amount of insurance coverage to help them protect against damages and bodily injuries when behind the wheels. The Federal Motor Carrier Safety Administration requires the interstate transportation vehicles to apply for primary liability insurance coverage. It is good to take advice from experts when choosing truck insurance to help you get maximum benefits. Moreover, discuss the liability coverage the insurance provides along with other benefits.

  • Other Insurance Coverage: 

 

Although not necessary, but few truckers might have to carry “Bobtail” insurance, which includes truck that operate without a trailer. Opting for such liability insurance can help truck drivers help save money on repair and maintenance.  

Picking right insurance policy is important for truckers as it comes to their aid in times of need or they might have additional expenses for any damage caused to the vehicle. Similarly, if you don’t file your tax form 2290 on time, heavy penalty and interest would tag along, paving way for many other uninvited troubles. Filing taxes through Tax2290.com will give you an added advantage, i.e. you can receive your Schedule-1 copy in minutes. We have a set of hand-picked tax experts, trained and expertise in answering your queries in order to provide you with 100% customer satisfaction. For more details, call us @ 1-866-245-3918 or shoot an Email to support@taxexcise.com. We would love to hear from you.

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