Commercial transportation insurance is an absolutely huge field. It actually incorporates many different types of businesses, industry classifications, and even types of vehicles, than most people originally imagine. Here, you’ll find a quick overview of some of the key different forms of commercial auto insurance and how it impacts you.
Why is it so important? Well, consider that different vehicles present different risks, which translates to different insurance requirements, and also varying costs. The same applies for different industries and classifications.
The first way to consider commercial transport is by the different forms of coverage which may apply. This includes standard auto insurance policies, and general liability coverage.
Other types of commercial transport insurance coverage though include non-trucking liability, property or physical damage insurance, workers comp insurance, pollution coverage, inland marine insurance, equipment breakdown, property, trailer interchange, and so forth.
The next thing to keep in mind is that different types of trucks or vehicles, and different industries, may also have very specific types of commercial transportation policies written for them. Here, consider the varied needs of perhaps a refrigerated 18 wheeler truck versus a waste hauler, or a log hauler versus a tow truck, a household moving truck versus a construction or contracting van or pickup.
Taxi drivers, as well as charter buses and vans, even ice cream trucks and food trucks, need commercial auto insurance. A few other common vehicle and business types to consider include non emergency medical transportation, limousines, dump trucks, catering trucks, flatbeds, hearses, pump trucks, cement trucks,garage trucks, and on down the line from there. all of these different vehicles and industries have different commercial transport risks, and therefore different policies and forms of coverage.
Still, that’s just the beginning. Even if you have regular cars for your workplace, perhaps driving clients around or making deliveries, you need commercial policies for those vehicles.
Beyond that, all forms of commercial transport and vehicles should be protected by the right insurance policies. That includes trains, for instance, with railroad liability coverage, along with ships and planes, and all manners of water and aircraft.
Of course, if you think that you and your business may need commercial transportation insurance, or that you could use a better policy or a better price, then be sure to consult with a professional who has experience in your local area. Policies are different from state to state, so work with an insurance broker or consultant who knows your industry and your locale.