4 Reasons For An Owner-Operator To Get Commerical Truck Insurance

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Are you tired of having to work all of the time to make long-distance deliveries for the trucking company that you are employed by? The solution to the problem might be to take the step of becoming an owner-operator. Before moving forward with becoming an owner-operator, it is important to look into getting commercial truck insurance. Take a look at this article to find a list of a few of the things that can be covered under a commercial truck insurance policy.

1. Property Damage if You Cause a Collision

Commercial truck insurance will give you the financial means to pay for property damages if you cause a collision. Basically, rather than suing you for property damages, the other driver will be able to file a claim with your insurance company. The coverage will include paying for the other party's vehicle to be repaired or replaced.

2. Other Drivers Medical & Funeral Expenses

When you get commercial truck insurance, it will pay for the medical needs of other drivers when you are held liable in a collision. The coverage will pay for treatment up to a certain amount of money, which will be based on your specific policy. Any of the expenses that are not covered under your policy will have to be paid out of your own pocket. Commercial truck insurance can also pay for funeral expenses if it is necessary. For instance, if the driver or passengers in his or her vehicle suffer from fatal injuries, your insurance policy will cover the funeral expenses.

3. Damaged Cargo

One of the things that can happen as an owner-operator is cargo getting damaged before being successfully delivered. For instance, if a customer pays for products to be delivered it is possible for them to get damaged in a collision or from bad weather overturning the truck. Cargo insurance will allow you to pay the customer back without having to dig into your own personal finances, depending on the coverage amount.

4. Uninsured Motorist Coverage

You will have financial protection if you happen to get into an accident at the fault of an uninsured driver. Basically, uninsured motorist covered will cover the expenses that may accumulate from your truck getting damaged and medical bills. Uninsured motorist coverage is also good to have because even if you move forward with suing an uninsured driver after a collision, there is no guarantee that he or she will be able to pay anything. Speak to a commercial insurance company, such as Metropolitan Insurance Service Consultants, about coverage for your truck as an owner-operator.