The Importance of Commercial Vehicle Insurance for Your Trucking and Cargo Transportation Business

Whether your fleet transports goods for customers or is used for your own services, it is important to have a suitable commercial vehicle insurance policy. Insurance does not just protect your fleet vehicles; it can also protect you against liability claims from other drivers on the road. After all, you cannot possibly supervise your drivers at every turn, but you can still have peace of mind in knowing your business and fleet are protected.

Why Buy Commercial Vehicle Insurance?

Often referred to as “fleet” coverage, this type of insurance is critical for any business that transports cargo or has company trucks. Here are the key reasons to consider vehicle insurance for your truck fleet:

  • Financial Protection – Vans, semi-trucks and tractor trailers need financial protection. Accidents are costly and the damages can quickly ruin your business if you are not adequately covered. You can opt for a policy that does not just protect the vehicle and driver but also covers the goods being transported.
  • Replacements and Rentals – In the event that your main means of transportation is damaged in an accident, a commercial policy could provide you with rentals or replacement coverage so that you do not experience costly downtime. However, not all policies will cover such expenses, but you and your agent can explore options for suitable coverage terms.

Before you purchase commercial vehicle insurance, you and your insurance broker will have to evaluate and assess your company’s risks. These can include:

  1. Your drivers and their driving history. If you have drivers that are considered “high risk” on your plans, you may have to pay higher premiums. Your broker will want to assess each driver and how they might influence your premiums and coverage options.
  2. Licensing requirements for your drivers. If your drivers are commercially licensed, you could receive a discount on insuring those drivers versus attempting to insure drivers that do not carry CDLs.
  3. Evaluating your fleet. This includes looking at the type of vehicles you are looking to insure and any special coverage needs they may have.
  4. Shop Insurance Quotes for Commercial Vehicle Insurance

    Whether you need to insure your delivery vans, service vehicles or a fleet of semi-trucks, let the team of insurance experts at The Nowell Agency help you find the right policy to protect your company. We make it easy to find commercial vehicle insurance policies that suit your company’s specific needs.

    Request a quote for commercial vehicle insurance today. Give us a call at a location near you.