Truck Insurance Regulations

Posted on February 14, 2009 @ 2:17 am
by Steve Turner

As you look through each individual state, you will find that the truck insurance laws are very similar. This is true because most commercial trucks do not drive in one particular state exclusively. This article will explain some of the basics of insurance.

Aside from this article you can find good information about trucking and truck insurance in trucking magazines and other websites. As you look through websites on the internet you can actually find companies with which you can save a lot of money.

One of the biggest fears of a trucker is a catastrophic accident. Without proper insurance coverage, this can mean huge losses or bankruptcy. But as long as you get the proper amount of insurance, you will nothave to worry.

When you sign an insurance policy, you are signing a contract between you and the insurance company. The insurance company agrees to take responsibility up to their limits of liability if you get into an accident, as long as you keep your side of the contract. It is the responsibility of the insured to pay the premiums, and be of service in the case of an accident.

You can expect to get the cheapest rates available, just as long as you have a clean driving record. But if you have points against you on your record, your premiums will go up substantially. Also, if you have experience behind the wheel, you will receive additional discounts.

Other serious factors are where and what you are driving. If there is a higher risk of natural disasters or hazards, like snow, mountains or hurricanes, you insurance prices will raise. Also, if you truck is in bad shape, or if it is really old, you can expect to pay more for insurance.

What you are hauling is important when considering the limits you will need. If you are carrying expensive cargo you will have to cover it higher. Also if you are hauling normal goods, you are required to have 750 k of liability, but if you are carrying hazardous material, you could be required to have up to 5 million in coverage.

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