Truck Insurance Guide | What Is It? Do I Need It?

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Last updated on: May 18, 2022
commercial truck insurance

What Is Commercial Truck Insurance?

A commercial auto policy protects your company in the event of accidents involving your fleet of trucks. If you lease or buy trucks as part of your business operations, the law requires you to purchase a commercial truck insurance policy.

You spend enough time, money, and energy to guarantee quality results as a business owner. Why risk selecting the wrong provider when you buy commercial auto insurance?

Avoid the complicated jargon with this handy truck insurance guide to alleviate any confusion or concern. Keep reading to get clarity on any questions about buying commercial truck insurance from the experts at Alchemy Insurance Agency!

Do You Need to Buy Commercial Truck Insurance?

An essential asset to any company is security. Knowing that your vehicles and their operators are safe gives you confidence in your company’s success.

According to the Motor Carrier Safety Administration, primary liability insurance is the minimum that businesses need to buy. In the event of an accident, not having commercial auto insurance will cost you thousands of dollars in repairs, medical expenses, and penalties.

That said, primary liability insurance does not cover the inventory of valuable products you may be transporting. Whether or not cargo insurance is a requirement depends on the shipping company. If you’re looking to add a secondary layer of coverage, you may want to invest in cargo insurance.

What Does a Commercial Truck Insurance Policy Cover?

As a business owner, there’s nothing worse than the sinking feeling when your insurance company tells you that your policy’s coverage isn’t enough to pay for the damages. Just like that, one unexpected accident can cost you and your business thousands of dollars.

Insurance companies have a reputation for selling you a policy worth less than what it demands from your bank account. You must know which insurance provider offers the best deal all-around to avoid missing out on opportunities that could save you more money.

Commercial truck insurance policies provide coverage that pays for the cost of damages. Trucks don’t come cheap, and neither does the cost of repairs. Look for a commercial truck insurance policy from a trusted insurance agency that offers premium services to protect your assets.

If your insurance company is resistant to covering costs, maintain consistent written communication. Stand your ground and advocate for the coverage that your policy claims to have.

How to Apply for a Commercial Truck Insurance Quote

Suppose your business is looking to apply for a commercial truck insurance quote. In that case, you’ll need as much information as possible—driving records come first and foremost. For the most accurate quote, you will need to present the following documentation:

  • Your commercial insurance policy’s declaration. If you don’t have one for your business, it is okay to use one from your personal insurance policy.
  • Your driver’s license and operating history, including prior speeding tickets and traffic offenses
  • Vehicle Identification Numbers (VIN) of each vehicle, including a breakdown of information relative to maintaining driver safety. If VINs are not available, ensure you provide the basics—model, make, and year.

Why Should You Consider Working with Alchemy Insurance Agency?

Allow Alchemy Insurance Agency to do all the heavy lifting. Our company has been serving residential and commercial clients for over 30 years. When you work with us to buy commercial truck insurance, finding you competitive quotes from top insurance carriers is our top priority!

Working with an independent insurance agency like ours gives you peace of mind knowing that we consider all of your options before considering the policy that offers you the best coverage! Guarantee that your deductible provides you with the support necessary to suit your needs.

It’s easy for businesses to get taken advantage of by insurance companies. Don’t be one of them! Let us be your truck insurance guide!

If you’re serious about prioritizing motor carrier safety, get in touch with the Alchemy team. An insurance company attempting to cheat you out of providing coverage can make it challenging to receive the care you and your truck deserve!

Get Your Insurance Quote Today

We hope that you found our truck insurance guide helpful! Our mission is to provide you with the coverage you need to ensure motor carrier safety. If you’re interested in working with us at Alchemy Insurance Agency, call us at (484) 999 – 2101! Our office in Oxford, PA, houses a team of certified experts ready to serve you and your business’ commercial truck insurance policy!

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