A semi-truck is a big investment. Ensuring that you’ve got adequate insurance on the rig and trailer attached to it is one method to protect your investment and financial future. In the case of an at-fault accident involving a semi truck, the driver will be responsible for damages. The semi truck driving insurance also protects those around you as you drive.
The minimum amount of insurance required for semi-trucks varies among states. Normally the one constant is that federal regulations stipulate that each semi-truck should have a million commercial auto liability policy in effect anytime the rig is on the highway. Most freight owners require carriers to have at least $100,000 worth of freight insurance coverage. Physical damage coverage and non-owned trailer coverage most often have a $1,000 deductible each.
Owner-operators along with other drivers can receive safety discounts on semi truck driving insurance by completing the something-Driven Driving course. This program is a training aid that focuses on helping rig operators avoid the most common types of semi-truck accidents: roll-under incidences, rear-end collisions and lane-change accidents. Many insurance companies provide program and some companies accept certificates of completion from other insurance companies.
When trying to find a semi truck driving insurance policy, you have to find out if the insurance covers your personal goods in the rig and the external wiring of the rig. The availability and specifics of these types of coverage vary with every insurance company. It is equally as important to find out if the semi-truck, trailer and cargo are covered if the rig is left unattended, such as when the driver goes to a restaurant to eat or a hotel to sleep.
Some semi truck driving insurance brokers use unethical techniques to get new business. The most common way of achieving this is to contact a rig or company owner to tell him that the current policy isn’t going to be renewed at the conclusion of the policy term. The broker will refer the person to a company that may be willing to provide coverage. The referral is actually towards the company the unethical broker represents. Before responding to any notices about policy changes or cancellations, contact your current insurance agent.