Speak with a licensed insurance agent:
Monday – Friday, 9am – 5pm CST
Essential insurance coverage for a transportation business includes commercial auto, cargo, general liability, workers' compensation, umbrella. Consult an insurance professional for specific needs.
The amount of professional liability insurance coverage that a transportation business should have can vary depending on the size and scope of the business, as well as the level of risk involved. Generally, experts recommend that transportation businesses carry a minimum of $1 million in professional liability insurance coverage. However, it is important to consult with an insurance professional to determine the appropriate amount of coverage for your specific business needs.
Workers' Compensation Insurance provides benefits to employees who are injured or become ill due to work-related activities. In the transportation industry, there are many risks and hazards that employees may be exposed to, such as driving accidents, loading and unloading cargo, and slips and falls. Workers' Compensation Insurance can help cover the costs of medical expenses, lost wages, and rehabilitation for injured employees, and it can also protect the business from costly lawsuits.
Business property insurance provides coverage for the physical assets of a trucking business, such as office equipment, furniture, and other assets. This coverage is important in the event of damage or loss due to theft, fire, or other covered perils.
Trucking insurance is a type of insurance that provides coverage for vehicles and cargo used in commercial transportation, including trucks, buses, and other vehicles used for hire or reward. There are several types of coverage that are typically included in transportation insurance policies, including:
Auto Liability Coverage: This coverage is required by law in most states and covers damages or injuries caused by your commercial vehicle to others while driving. It includes bodily injury and property damage liability.
Physical Damage Coverage: This covers damage to your commercial vehicle caused by a collision or other event, such as theft or fire.
Cargo Coverage: This covers the value of the cargo being transported in the event of damage, theft, or loss during transit.
General Liability Coverage: This covers accidents that occur on your business premises, such as slip-and-fall accidents or property damage caused by your employees.
In Texas, commercial truck drivers are required to have a minimum amount of liability insurance, with minimum limits of $750,000 for trucks weighing over 10,000 pounds and $300,000 for trucks weighing less than 10,000 pounds. However, it is recommended to carry higher limits of coverage to ensure adequate protection in the event of a serious accident.
Other types of coverage that may be available in Texas include physical damage coverage, cargo coverage, and general liability coverage, as mentioned above.
When selecting trucking insurance, it is important to consider your specific needs and risks as a commercial truck driver. Factors to consider include the type of cargo you transport, the distance and frequency of your trips, and the value of your truck and equipment. It is recommended to work with an experienced insurance provider who can help you identify your coverage needs and find the right policy for your business.