G5 Insurance Agency proudly offers trucking insurance in New York, New Jersey, and Pennsylvania. Call 845-842-1226 to learn more or get a quote.
Commercial truckers face financial risks that are different from those of typical drivers. Therefore, you need specialized insurance coverage that is tailored to your unique needs. Exactly what coverage you need depends on whether you are a leased owner-operator or an owner-operator with authority.
In most cases, your motor carrier will provide primary liability insurance while you are under contract. However, you may need additional coverage to fill in the gaps in coverage. Examples include:
- Non-trucking Liability: If you plan to use your truck as a personal vehicle when you are off the clock, even just to pick up groceries or grab some dinner, you need this endorsement to extend your primary liability coverage.
- Bobtail Liability: This endorsement covers the truck when no trailer is attached, whether or not you are on an official dispatch. We will look at your existing coverage to see if you need this separate endorsement.
- Physical Damage: Your motor carrier may or may not provide this coverage. If not, then you definitely need a separate policy to cover any physical damage to the truck. There are several options, from basic collision insurance to full comprehensive coverage.
Owner-Operators with Authority
If you are not operating under a motor carrier lease, you are considered an owner-operator with authority. This means that you are responsible for all your own insurance, including:
- Primary Liability: This is the basic insurance required to legally operate under your own authority. It covers both bodily injury and property damage that you cause to another party.
- General Liability: This is basic business insurance that covers bodily injury, property damage, and other claims against you for incidents that occur while engaged in business activities that do not directly involve your truck.
- Motor Truck Cargo: This insurance covers goods that are damaged while in your custody, including refrigeration breakdown and debris removal.
You should also strongly consider the insurance types detailed in the leased owner-operator section, as they apply to owner-operators with authority as well. Numerous policy add-ons are also available to provide more comprehensive coverage.
Call G5 Insurance Agency at 845-842-1226 to learn more or get a quote.
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