Tractor trailer drivers and trucking companies must carry certain types and amounts of insurance. Various insurance coverages can help protect the company’s property or the driver.
Talk with the agents at Cook Insurance Agency in Apache, Arizona, to understand how state and federal laws affect the insurance you need for your trucking operation.
Do Arizona Truck Drivers Need Insurance?
The Federal Motor Carrier Safety Administration (FMCSA) requires trucking companies and tractor trailer drivers to purchase public liability insurance. A trucking company must provide proof that it complies with FMCSA insurance regulations before obtaining its Operating Authority, sometimes called a Motor Carrier (MC) number. Plus, a broker or shipper may require higher public liability limits than the FMCSA.
Public liability insurance is a business insurance that protects the public and truckers from the financial effects of accidents if the trucker is at fault. It helps cover third-party damages and environmental restoration after an accident.
Since the FMCSA requires minimum limits of public liability insurance depending on the type of freight a trucker hauls, it’s crucial to talk with your insurance agent to verify that your policy complies with FMCSA rules.
Do Arizona Truck Drivers Need Commercial Auto Insurance?
Trucking companies and truck drivers in Arizona must carry minimum amounts of commercial auto insurance.
Tailoring commercial auto insurance can help your organization get appropriate coverage. Your agent may start with the following coverages:
Commercial auto liability insurance helps pay for third-party property damage and injuries. It includes two main types of coverage:
· Bodily injury liability helps pay for third-party medical bills if someone is injured in an accident with the insured tractor trailer, and the tractor trailer driver is legally liable for damages.
· Property damage liability coverage helps pay to repair or replace the third-party property damaged in an accident with a tractor-trailer when the truck driver was at fault.
A commercial auto policy typically provides the following additional coverages:
· Comprehensive insurance helps pay for damages to a tractor trailer after an incident or accident where damage is unrelated to a collision, including fire, weather damage or acts of vandalism.
· Collision insurance helps pay for damages to a tractor trailer after an accident involving another vehicle or a collision with an object.
· Medical payments/personal injury protection coverage helps pay medical bills and other losses if the tractor trailer driver or passenger is injured in an accident.
· Uninsured/underinsured motorist insurance helps pay to replace or repair a tractor trailer if an accident causes damage and the responsible party doesn’t have adequate insurance coverage.
Other coverages that trucking companies or tractor trailer operators may need depending on their operations include:
· Trailer interchange insurance covers the repairs for the damage to another’s trailer caused by the insured.
· Bobtail insurance helps pay for damages if a driver is in an accident when no trailer is attached.
· Non-trucking liability insurance covers tractor trailers used for personal reasons if an accident or incident occurs.
· Umbrella insurance helps pay liability claims that exceed the limits of your other liability policies.
· Motor truck cargo insurance provides coverage for the commodity or freight hauled by an owner/operator if it is damaged or lost due to a collision, fire or striking of a load.
· Equipment insurance coverage may include non-owned trailer physical damage coverage to help pay for damages to a trailer being pulled for a third party.
Get the Commercial Trucking Insurance You Need Today
The agents at Cook Insurance Agency are ready to help you tailor your commercial trucking insurance coverage to meet your organization’s needs. Call us today for a personalized quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.