A Guide To Trucking Authority Insurance

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COMPLETE TRUCKING BUSINESS SOLUTIONS
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A Guide To Trucking Authority Insurance

• Proper trucking authority insurance is an
  essential part of any trucking companys legal
  protection, and it can save you plenty of money
  and time if youre ever involved in an accident
  or receive another sort of lawsuit. But what
  exactly does trucking authority insurance cover?
• Read on to learn more about the different types
  of trucking authority insurance and how they
  protect your business.

What Is Trucking Authority Insurance?
Before purchasing a commercial vehicle, youll
need to ensure that your insurance covers
everything your business requires. General
liability insurance is a must-have and will cover
bodily injury, property damage, and medical
expenses. Some states require additional permits
for trucking companies check with your local DMV
for specifics. Your insurance agent can help you
determine what kind of coverage youll need based
on your individual needs and industry regulations.
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• Another popular option to look into for small
  fleets is a non-trucking liability. Whereas
  regular liability protects against accidents
  involving vehicles, non-trucking liability covers
  third parties injured on premises other than
  those owned by owners/operators of vehicles
  involved in accidents.

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Legal Protection

• Often called umbrella insurance or covering other
  risks outside transportation, NTL extends
  protection against various incidents such as
  falling objects or falling glass caused by
  weather damage to insured property, such as
  employee injury within an office building
  rented/owned by a company having such insurance.
  Coverage may vary per each incident policy.

First and foremost, you need a primary liability
policy. This covers your most basic legal
responsibilities if an accident occurs. The
amount youre required to purchase depends on
several factors, but a good rule of thumb is that
it should be at least twice your most recent tax
return. Your insurance agent can help you
determine your needs based on your trucks weight
capacity and how much cargo you plan on carrying
in its trailer. You also want to make sure you
have general liability coverage, which is
included in most primary policies and offers
protection from damage or injury caused by
accident involving anyone who isnt directly
involved with your companyfor example, customers
or bystanders caught up in a fender bender
between two of your trucks.
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The Key Functions of Permits

• The next thing that you need is a license or
  permit. This may seem easy, but there are many
  different types of licenses and permits in most
  states. The most common are SFR (single trip
  freight) or DOT (Department of Transportation).
  You will probably want both of these when you
  start. The only other one that you might need is
  Hazmat if you have hazardous cargo. Each state
  has different laws about what kind of permit or
  license they require, so you will have to check
  with your states licensing agency for more
  information. Some states dont even require
  permits as long as you arent carrying large
  amounts of goods. As always, make sure that you
  read through everything before making any
  significant decisions! As soon as you feel
  confident about going into business, talk to a
  lawyer specializing in trucking law. They can
  help guide you towards obtaining proper insurance
  and ensure all necessary paperwork is filled out
  correctly. Your main goal should be keeping
  yourself protected from lawsuits! Having an
  attorney on-call can give you peace of mind
  knowing that someone else knows how it works
  better than you do. Of course, dont expect it to
  be free!

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How Many Types Of Licenses And Permits Are There?

• Many lawyers who specialize in trucking insurance
  have low-cost consultations to answer any
  questions that may arise from starting your own
  company. If youre interested in increasing your
  potential for corporate growth or considering
  other types of transport, you may also want to
  consider buying specialized coverage for
  transporting hazardous materials. In addition to
  outlining what these policies cover expenses,
  they often require a host of certifications
  depending on where and how freight is
  transported.
• For instance, if you haul goods across state
  lines, certification under federal regulations
  may be required transporting goods overseas may
  require additional documentation before importing
  them into another country. Hiring a qualified
  broker experienced in navigating these
  requirements can save time and avoid potentially
  serious complications later down the road when
  working with customs officials abroad when they
  catch wind of gaps in the paperwork filed with
  U.S. authorities.

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Where Can I Get Additional Information On
Commercial Vehicle Licensing?

• Drivers of commercial vehicles are licensed
  through different agencies based on several
  factors, including their type of vehicle and
  transport. There are two general types of
  licenses for drivers commercial drivers rights
  (CDL) and non-commercial drivers licenses. For
  example, a construction company that needs to
  transport its materials will need to apply for a
  CDL with that states Department of Motor
  Vehicles. A farmer who transports his livestock
  across state lines would also need a CDL. If you
  arent hauling freight for money or goods, you
  may only need a license or permit from your state
  DMV if your vehicle is gross weight. Otherwise,
  you should contact your local office to find out
  which license you need.

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• Many states provide licensing and permitting
  information for both carriers and drivers on
  their Commercial Vehicle Services webpages. For
  example, New Jerseys page also has links to
  other state agencies with similar information.
  The Federal Motor Carrier Safety Administration
  (FMCSA) is another excellent resource for
  trucking authority insurance, along with several
  different topics, including hours-of-service
  regulations, vehicle maintenance logs, and more.
  Finally, your carrier or a broker should have
  contact information for agents who can offer
  additional guidance regarding trucking authority
  insurance policies in your area.
• Talk To a Licensed Agent Once youve read up on
  truck licensing requirements from different
  authorities in your state or region, consult with
  an agent who specializes in commercial insurance
  coverage for truckers.

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Contact Us

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  Greenbelt, MD 20770
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