Whether you're planning to establish a trucking company, own a truck available for hire, or operate as a tractor-trailer owner-operator, it is imperative to have the required minimum levels of commercial trucking insurance by state and federal laws, where applicable. 
Walnut Risk Management can provide valuable assistance in determining the specific insurance policies you need for your trucking company. Contact us today, and we'll help you construct an insurance package tailored to your trucking business.
Understanding Liabilities and Risks in the Trucking Industry
As the owner of a trucking company, you face unique risks inherent in this industry. Truck drivers transporting substantial cargo loads weighing tens of thousands of pounds can potentially cause significant property damage and inflict injuries upon other drivers in the event of an accident.
Additionally, truck drivers themselves encounter physical risks associated with their occupation. Prolonged hours of sitting can negatively impact their health, while other exposures include heavy lifting, exposure to hazardous materials, and extreme fatigue.
Truckers often grapple with tight deadlines with financial penalties if they fail to pick up or deliver loads on time. They may have to navigate adverse weather conditions or endure lengthy periods of driving amidst heavy traffic to meet their deadlines.
These factors collectively contribute to the increased potential for accidents, injuries, and illnesses. In such situations, the trucking company may be held legally liable for damages and medical expenses. Fortunately, having appropriate insurance coverage can help safeguard a trucking company from the financial repercussions of these common industry risks.
Essential Types of Trucking Insurance Coverage
State and federal laws prescribe mandatory insurance policies that trucking companies must acquire. Your agent may also recommend additional coverages to address specific risks associated with your business.
Here are some essential types of trucking insurance necessary for your operations:
- Primary auto liability coverage: Federal law mandates that each truck in a trucking company must be covered by primary auto liability insurance. This coverage assists in paying for damages and bodily injuries caused to third parties if your trucking company is found legally liable in an accident.
- General liability coverage: This coverage helps cover damages if you, one of your drivers, or an employee inadvertently causes property damage or injuries to a third party while engaged in activities other than driving.
- Bobtail coverage (non-trucking liability): This coverage provides protection when the truck is being used off dispatch or for personal purposes.
Obtain the Commercial Trucking Insurance You Need
These foundational insurance policies are generally suitable for most trucking companies. However, several additional policies may also prove beneficial for your specific operations. Contact the agents at Walnut Risk Management to learn more about your trucking insurance options and for assistance securing appropriate coverage.
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.