Posted by 
Everything You Need to Know About Semi Truck Insurance
Semi-trucks can be hugely dangerous if they’re not driven or maintained properly, and even the best drivers and mechanics can have an accident every now and then. To minimize your financial risk in case of an accident, you should strongly consider adding semi truck insurance to your policy, as this form of coverage can help with everything from property damage to bodily injury that results from the accident. Whether you drive a semi truck for work or just own one yourself, here’s everything you need to know about semi truck insurance so you can make an informed decision on whether it’s right for you.
Whether you own a small truck or a tractor-trailer, semi truck insurance is something that can be a great help. If you don’t have the protection of truck insurance, there is a chance that an accident could leave you and your business in financial ruin. Even if you don’t consider yourself to be at fault for the accident, you will still have to pay for damages. How much is commercial auto insurance? Commercial auto insurance rates can depend on several factors, including your profession, the vehicle you drive and where you drive it. For example, if you’re a plumber who drives around in your Ford F-150 pickup truck, which you primarily use for business purposes, then you’ll likely pay less than an electrician who drives around in a Mercedes-Benz S Class sedan.
A semi truck policy should cover the cost of repairing or replacing your truck and its cargo if it is damaged. It also provides liability coverage in case you cause an accident, as well as coverage for additional drivers if you use your truck for personal purposes. Damage caused by wear and tear may be covered under a commercial auto policy (CAM), which is often required by lenders. But, such coverage may not apply to wear from normal usage in hauling operations. For example, flat tires that are punctured from driving over debris on the road are typically considered damage caused by wear and tear rather than a collision with another vehicle. If you run over a pothole or dip in the road, those damages would typically be covered because they’re more likely to occur during a collision with another vehicle.
When comparing truck insurance quotes, you’ll notice that premiums can vary significantly. If you know which factors have the biggest impact on cost, be sure to ask these questions when you are speaking with agents: What is the deductible? Do they offer a good driver discount? What discounts are available for high-risk drivers? Do they offer any type of bundled coverage like Comprehensive and Collision? How long has this company been in business, and how large is its client base?
Location matters when it comes to insuring your semi-truck. For example, if you’re driving through Raleigh, NC, and there’s an accident on I-40 that causes a 12-mile backup, there’s an increased chance that another accident will happen due to increased traffic volume. The cost of liability insurance can increase by up to 10% just from being in an urban environment like Raleigh NC!