Since truck drivers use a number of time on the road and are at greater threat for vehicular accidents, it’s only affordable that they need to have truck driver insurance. Not solely is it required by regulation, by way of The Federal Motor and Carrier Safety Administration (FMCSA), it is usually a good way to defend you and the people who work for you.
The purpose of truck driver insurance is to defend the driver from the costs arising from vehicular accidents whether or not they come up from bodily injury or harm to property. The amount of coverage depends on numerous factors, mainly weight of the vehicle and whether or not or not it is transporting hazardous materials.
Listed here are the FMCSA‘s rules on truck driver insurance:
Rule 1: If the insurance is for a driver of a truck that weighs less than 10,000 lbs (weight of truck plus items) and the cargo is non-hazardous, the required minimum coverage is $300,000.
Rule 2: If the insurance is for a driver of a truck that weighs more than 10,000 lbs (weight of truck plus items) and the cargo is non-hazardous, the required minimum coverage is $750,000.
Rule 3: If the insurance is for a driver of a truck that weighs more than 10,000 lbs (weight of truck plus items) and the cargo is much less hazardous, the required minimum coverage is $1,000,000.
Rule 4: If the insurance is for a driver of a truck that weighs more than 10,000 lbs (weight of truck plus items) and the cargo is hazardous the required minimum coverage is $5,000,000.
Rule 5: If the insurance is for a driver of a truck that weighs less than 10,000 lbs (weight of truck plus items) and the cargo is radioactive, the required minimum coverage is $5,000,000.
In determining whether or not a cargo is hazardous or non-hazardous, the Division of Transportation uses this definition any materials that’s listed by the Secretary of Transportation as dangerous to the health and security of the public. Thus, the department additionally has particular provisions on the secure transport and dealing with of those materials. The bigger coverage required for these truck drivers transporting hazardous materials address the chance for greater injury to the driver in these cases.
In case you’re a truck driver wanting to insure your self, or if you happen to’re an employer wanting to insure your truck driver, here is the place to start:
Get some quotes online. Kind “truck driver insurance” on your search engine and the search outcomes will direct you to some sites providing to give you instant quotes on your insurance. Select one which is consumer-pleasant and also you’re snug with. Most sites would require you to fill in some information. Then based mostly on that information, you will obtain quotes from dozens of companies. This can not less than give you an concept of the typical premium that can be required of you.
Contact an insurance agent for truck driver insurance. From your record, select those which might be better recognized within the industry. Keep in mind that you should be in a position to depend on the insurance company to have the opportunity to give you what you want in case of a vehicular accident.