Commercial organizations like towing companies and transportation businesses in Arizona must purchase commercial auto insurance policies in compliance with Federal Motor Carrier Safety Association (FMCSA) and state regulations.
Depending on the type of trucks your company uses, you may be required to purchase public liability coverage as well as commercial auto insurance. Contact the agents at Cook Insurance today to get a commercial auto insurance policy tailored to meet your organization’s needs.
What Is Commercial Auto Liability Coverage?
Arizona transportation companies, towing companies, and businesses that use trucks must carry certain types and amounts of liability insurance. Talk with your agent to understand the liability insurance your company may need.
· Public liability insurance provides payment assistance for third-party losses when a truck driver is at fault in an accident. The type of freight hauled may affect your public liability insurance requirements.
· Commercial auto liability insurance helps pay for third-party property damage and injuries after an at-fault accident.
Depending on your situation, your agent may recommend purchasing an umbrella insurance policy to help provide additional liability coverage. Umbrella insurance kicks in if a liability claim exceeds the limits of your company’s other liability policies.
What Insurance Policies Help Protect Company Property?
Your agent may recommend that you purchase insurance to help repair or replace company property after an accident.
· Comprehensive insurance helps pay for damages after an accident that is not a collision. It may cover damage caused by vandalism, weather or fire.
· Collision insurance helps pay for damage to your company’s property after an at-fault accident if your driver hits an object or another vehicle with your company’s truck.
· Uninsured/underinsured motorist insurance helps pay to replace or repair a tractor trailer if an accident causes damage and the responsible party is uninsured or doesn’t have enough liability insurance coverage.
· Trailer interchange helps pay for damages that occur while switching trailers to complete a delivery if a trailer interchange agreement is in place whether or not the trailer is connected to the truck at the time of the incident.
· Non-owned trailer insurance may provide coverage if the trailer is attached to the power unit when the damage occurs. This coverage does not require a trailer interchange agreement.
· Motor truck cargo insurance helps cover accidental damage or loss of cargo.
Get Commercial Auto Insurance for Your Trucking Company Today
Contact Cook Insurance in Apache Junction, Arizona, to get a commercial auto policy that meets your company’s needs and FMCSA and Arizona requirements.
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.