Are you thinking about opening a commercial trucking business? If so, you're going to need to get insurance. And we're not talking about just one type of insurance; we're talking about a bundle. Curious as to the different types of insurance policies needed to operate a commercial trucking enterprise? Then read on. We're going to discuss each below. General Liability Like most businesses, trucking businesses need general liability insurance. This insurance covers all non-truck related damages, including injuries to individuals. Should one of your employees cause damage to a client's property or should someone get hurt on your property, your general liability insurance will kick in and ensure that you aren't forced to hand over your own hard-earned money. Non-trucking Liability If you ever use your trucks for purposes other than commercial trucking (say, dropping off a friend or employee), you will need to have non-trucking liability insurance. This insurance covers any accidents that occur during non-standard-use events. Cargo Insurance There's always a risk of your cargo being destroyed while in transit, whether due to collision or fire or otherwise. Fortunately, cargo insurance covers these damages, ensuring that they don't set you back monetarily. Physical Damage Insurance It's not just the cargo inside of your truck that's vulnerable to damage. Your truck itself is vulnerable as well. This is where physical damage insurance can be helpful, protecting you in the event that your truck is subject to theft, vandalism, fire, or collision. Mechanical Breakdown Insurance At some point, your trucks are bound to break down. Fortunately, mechanical breakdown insurance exists to cover the costs of towing and related services. Downtime Insurance At times, your trucks will incur mechanical or structural problems, necessitating repair. Unfortunately, when trucks are being repaired, they're not on the road bringing in revenue. So, what can you do to make up the difference? You can take out a downtime insurance policy. These policies cover the cost of rental trucks while your purchased trucks are in the shop. They're designed to maintain efficiency, ensuring that your system is running as usual. Trailer Interchange In some cases, your trucks might end up pulling trailers owned by other organizations. Unfortunately, accidents can happen, resulting in the damage of these trailers. This is where trailer interchange insurance comes in handy. This policy covers any damages that happen to another company's trailers while your trucks are pulling them. It's vital for any company that deals in trailer interchange. Looking to Save Money on Commercial Trucking Insurance? And there they are, the different types of insurance that you need to operate a commercial trucking business. While these insurance policies can be a little expensive, they are vital in protecting your company and ensuring that it stays afloat. Looking to save money on insurance claims over time? If so, you would be wise to install dash cams in your trucks. Dashcams will capture all accidents on camera, ensuring that you're not paying any undue penalties. Need a dashcam? We're the business to see. Check out our dashcam system now!