Transportation Services Insurance
Businesses that offer transportation services face special risks on (and off) the roads today. The right insurance policy can mean the difference between getting back on the road quickly or suffering a major loss that takes your business out of commission for quite some time. Before you dive in though, there are a few things you need to know about transportation services insurance and what it means for your business.
What Kind of Transportation Businesses Need Transportation Services Insurance?
Insurance for transportation services offers coverage for a wide range of transportation-related businesses. Whether you are the sole owner of a single truck, have a small fleet of trucks working on your behalf, or own a large fleet of trucks that travel across the country, you have special needs that vary from the types of cargo you carry to the communities you serve, and even the roads you frequently travel.
The possibilities are limitless when it comes to insurance needs and risk mitigation for truck drivers. That’s why you need a reputable insurer, like Phoenix Insurance Group, on your side to help you make the right call when it’s time to buy the insurance that drives your business – or at least keeps your business driving.
Commercial Insurance Trucking Coverages
Whether you own a fleet of trucks (large or small) or a single truck with plans to grow and expand in the future, you need insurance coverage to help protect your business. These are a few primary types of coverage your business needs.
- Workers’ Compensation Coverage
- General Liability
- Umbrella Liability Cover
- Business Owner’s Policy (BOP)
- Workers’ Compensation Insurance
Once you start digging a little deeper, you’ll discover that your needs as a fleet owner transporting goods for others, puts you at specific risks other businesses do not necessarily share. For those risks, you need different types of insurance policies that go above and beyond what other business owners may need.
Truckers’ Automotive Liability
Protects the business from liability claims made when truckers are at fault in accidents resulting in injuries, property damage, and even death. We offer a wide range of limits and deductibles so you can customize a plan you feel comfortable with and confident of.
This type of coverage offers protection when using business trucks for personal or non-business purposes. It can pay for medical expenses related to injuries or deaths in accidents where the truck is being used for personal reasons. This does not cover any type of business usage or the transport of cargo.
Once reserved to indicate protection for items in transit over water, it has since been expanded to relate to the transportation of items over land as well. It also provides coverage for the property of others that are on your premises or that are being transported to or from your premises.
While more commonly associated with body or auto repair shops, garage liability coverage offers liability coverage from damages related to bodily injuries or property damage occurring as a result of operations within the garage.
While these are hardly inclusive of all the types of insurance you need when it comes to transportation services insurance, they offer a glimpse into the wide range of coverages required in order to adequately insurance your business and provide the perfect opening to discuss your unique coverage needs with a qualified insurance agent. Other risks to consider when discussing your insurance needs include:
- Liability from Accidents
- Safety Concerns
- Regulations and Compliance Issues
- Hiring and Retaining Drivers
- Employment Practices
Phoenix Insurance Group understands the risks New Jersey transportation services businesses face every day and we are committed to providing you with top level transportation services insurance coverage to reduce those risks. Call us today at 908-879-6500 to learn more about your transportation services insurance options.