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’s a quick overview of some of the key different forms of commercial auto insurance and how it affects you.
Why is it so important? Well, consider that different vehicles present different risks, which translates into different insurance requirements and also variable costs. The same is true for different industries and classifications.
The first way to consider commercial transportation is by the different forms of coverage that can be applied. This includes standard auto insurance policies and general liability coverage.
However, other types of commercial transportation insurance coverage include non-trucking liability, property or casualty insurance, workers’ compensation insurance, pollution coverage, inland marine insurance, equipment breakdown, property, trailer interchange, etc.
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 trucking policies written for them. Here, consider the varying needs of perhaps an 18-wheeler refrigerated truck vs. a waste hauler, or a log hauler vs. a crane, a moving truck vs. a construction or contractor van or van.
Taxi drivers, as well as charter buses and vans, even ice cream trucks and food trucks, need commercial auto insurance. Some other common types of vehicles and businesses to consider include non-emergency medical transportation, limousines, dump trucks, catering trucks, flatbed trucks, hearses, pump trucks, cement trucks, garage trucks, and more on. All of these different vehicles and industries have different commercial transportation risks and therefore different policies and forms of coverage.
Still, that’s just the beginning. Even if you have regular automobiles for your workplace, perhaps driving to customers or making deliveries, you need commercial policies for those vehicles.
Beyond that, all forms of transportation and commercial vehicles must be protected by the proper insurance policies. That includes trains, for example, with rail liability coverage, along with ships and planes, and all forms of water and aircraft.
Of course, if you think you and your business may need commercial trucking insurance, or could use a better policy or price, be sure to consult with a professional who has experience in your local area. Policies differ from state to state, so work with an insurance broker or consultant who knows your industry and location.