First, truckers, tractors, and trailers, are insured as commercial equipment and not automatically afforded the coverage extensions of a personal auto policy. Electronics, loading equipment, load securing equipment, rental reimbursement and personal property are insured differently and are not automatically covered.
Commercial Auto Liability is pretty straight forward. If a trucker has ICC Authority, a filing for proof of financial responsibility will be given to the Feds. Filings are what keeps a trucker compliant with federal (ICC) authority requirements. Uninsured / Under Insured Motorist is also helpful for a trucker that has been injured by a vehicle with out insurance. Medical payments are useful when some one is injured in and on your truck.
Cargo insurance covers the truckers’ responsibility for others goods he is hauling. There are 3 different forms or policies: Named Perils and Theft which is narrow in coverage, Broad Form which adds certain coverage to the … Read More