Get the Right Kind of Commercial Transportation Insurance
The world of commercial auto and transportation insurance is huge. There are literally dozens, if not hundreds, of different types of policies and coverages, plans of all shapes, sizes and scales. That’s why you need to make sure you find the right policy for you, based on a host of different factors. Here’s an initial look at how commercial transportation insurance varies between so many different types of plans.
One of the first places to look is the industry you are in and the type of business you are operating. The scope of this can only be massive. For example, with the same 18-wheeler, you could be delivering goods within a state or across the country. Or, it could be a moving company, either locally or nationally, or it could be doing all other types of tasks. The industry you are in, the resulting locations you are in, and the materials you are transporting are all important factors in your coverage.
Along with that, also consider the way your business is run or your level of involvement. For example, do you own a fleet of different trucks? Or are you a truck owner operator working directly with customers? Maybe you don’t own your vehicle and are a contractor or work for an employer and their fleet of vehicles. All of these require different commercial auto insurance policies.
Of course, the biggest area of difference when it comes to commercial transportation insurance coverage is the type of vehicle being operated, along with the above variations of industry type and ownership or participation status. The range of vehicles that require commercial insurance is absolutely huge.
Sure, there are big rig trucks, but even within that, it could be refrigerated trucks, flatbeds, or even log carriers or motor carriers. You need business insurance for your regular truck, van, or even car, if you’re hiring or doing other work for your business inside your vehicle. Then there’s the wide range of specialty vehicles, including everything from garbage trucks to HAZMAT vehicles, food trucks to non-emergency medical transport, and much more.
Finally, keep in mind that much of this is fluid. There are always changing regulations as well as new entrants to the market. Look no further than the complex area of Uber and rideshare insurance regulations in this regard.
Make sure you find the right type of business auto insurance for your very specific needs based on all of the above. If this sounds like a lot to figure out, and it certainly is, be sure to work with an experienced professional who can get you a fair quote on a policy tailored for you, your vehicle and your business.
