Primary Liability Insurance for a Commercial Truck Insurance Policy
The purchase of liability insurance is required for all commercial trucks. It will cover any injuries to individuals or damage to property that your truck may cause. Large fines and penalties can and will be imposed for driving without any liability insurance. Never operate a truck without a liability policy.
Truck Liability Requirements
The FMSCA establishes the required minimum for primary liability insurance. For vehicles with GVWRs more than 10,000 pounds, you must meet the following requirements:
- Most trucks transporting the majority of goods are required to carry a minimum of $750,000 in insurance coverage. The minimal amount that many load brokers will accept is $1,000,000.
- Auto transporters require a minimum of $1,000,000 in insurance coverage. The industry norm for other transported commodities is one million in coverage.
- $5,000,000 - You must have at least $5,000,000 in insurance if you are transporting certain hazardous chemicals.
You and your truck are not intended to be covered by primary liability insurance. It doesn’t cover theft, your physical injuries, or truck damage. Simply put, it’s there to pay for any harm you could cause to other people or property.
Primary Liability and General Liability Insurance are sometimes mistaken terms. A significant disparity exists. You are protected against accidents that occur off the road under general liability. An illustration of what general liability might cover is someone slipping and falling at your headquarters You are not covered for that by primary liability insurance. It protects you while you’re driving.
Primary Liability Insurance Cost
Typically, this is the most expensive component of an insurance plan for commercial trucks. Finding the truck insurance providers with the most affordable rates for this coverage by doing some comparison shopping will undoubtedly pay off. We created our service to make doing this simple. Simply complete GET a Quote form, and our agents will arrange all.