Remember These Three Facts When You Complete Your Insurance Coverage

Semi-truck drivers need full insurance coverage to avoid financial issues after accidents. For new drivers, the types of semi-truck coverage can be very confusing because they don't follow a typical insurance model. For example, if you want car insurance, you go with one company and one agent and build your coverage from there, all with the same company. Trucking insurance is different; coverage depends on your status, whether you're driving on an official job, and what your truck ownership status is. Remember these when you put together your insurance package so that you're fully protected.

Non-Trucking and Hauling Liability Insurance Are Separate

If you own your truck but drive for another trucking company, say under a contract, you're going to get liability coverage paid for by that company -- but it will cover you only when you're hauling something or have been dispatched to pick up a load. If you're done with that job and are just driving your bobtail (for example, to a truck stop to wash up and rest), that liability coverage won't cover you. You need separate non-trucking insurance (sometimes known as bobtail insurance) for those non-work drives.

The Lien Holder May Have a Say in Your Insurance Coverage

Are you an owner-operator with your own rig? Do you own it outright, or are you still paying off the truck loan? If you are not the lien holder on the truck (e.g., the bank or financial company is), then that lien holder might get a say in what insurance coverage you have. This is important if you want to do things like drop parts of the coverage because you won't be driving for a while, or when you want to have just the bare minimum legally required coverage to save money. Sometimes the lien holder will want you to have more coverage instead.

Dispatches Must Be Official

There is a difference between being officially dispatched to pick up a load and just being told there might be work in a particular location. Most of the time, it's easy to figure out which situation you're in. However, sometimes a tired logistics broker or dispatcher won't be so clear, and you could end up driving somewhere thinking you'll have a load waiting, only to find that wasn't the case. Always double-check whether that call about a load was an actual dispatch order or just a tip.

Speak with a trucking insurance company or broker to figure out exactly what coverage you need to provide and what the companies you contract with will provide. With full coverage, you'll have the financial protection necessary to deal with accidents and other mishaps.

For more information on semi-truck insurance, reach out to an insurance provider near you.

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