Types of insurance needed for transports

Insurance is another of the many things needed when operating a tractor-trailer. While thoughts of safety usually go towards training or mechanical aspects of the industry, insurance can be a life-changer when it comes to your rig. Many of us consider basic insurance but there can be a lot more involved than regular PL & PD. Read on to see what types of insurances are needed for transports!

Let's step back to PL & PD for a moment. PL, also known as liability insurance is a must-have. There is literally no negotiation when it comes to this. If you're an owner-operator of your own truck, you need this. If you own a fleet, every truck in it must have liability insurance, including those you're leasing. PD, known as damage insurance will cover you for damage caused by things like vandalism, collision, or theft. While not required by law, it can be a money-saver as it may also cover the cost of replacement if a vehicle is damaged beyond repair.

Another type of insurance that can be beneficial is Bobtail insurance. Bobtail insurance, sometimes called non-trucking liability, covers the vehicle in the event it is being driven off dispatch, or for personal reasons. This does not protect drivers when they're pulling a trailer, using the truck to make money, or driving for a company.

In the event of being out of pocket, whether it's for medical bills, or simply having to rent a vehicle, you have Medical Payment and Rental Reimbursement insurances. Those do exactly as they sound, and will reimburse you for the money spent on medical bills incurred while driving or riding in the truck, or if you need to rent a vehicle.

While this list is hardly exhaustive, it does give you a better idea of what insurances are involved with owning and operating a transport. Do you have questions about driver training? Let us know! We'd love to help!

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