Motor carrier insurance – keep your vehicle, company, and staff safe

Motor carrier insurance
Motor carrier insurance

Does your company run motor carriers? The cargo and the employees plying it need protection. This is serious business, and you have to commit to carrying everything to safety. Motor carrier insurance is the best commitment you can make. 

What are motor carriers?

People, organizations, or businesses that transport properties, objects, passengers, or goods with the help of a commercial motor vehicle are called motor carriers. 

Why do you need motor carrier insurance?

Traveling on the road can be a risky business. There are plenty of exposures when you are on the go. The fleet, cargo, employees all need protection, and getting insurance for the CMV is the only solution. Whether you have a small-scale business or a huge opulent business empire to run, it can’t operate smoothly without carefully formulated and well-designed motor carrier insurance.  

Motor carrier insurance –“the safety package deal”:

The moment a vehicle is purchased, it gets insured for safety. Every business runs small and large vehicles that need insurance coverage. Rather, the policy taken by a motor carrier company covers all the Lorries or motor carriers owned by a business house. And, this has to be many. These vehicles may be driven by the owner or a reliable staff employee. So, regardless of whoever drives the machines, the insurance is a compulsory “safety package” that the motor carrier opts for!

The insurance policy covers all the financial liabilities and, in this way, protects the financial interest of the workers and the company. There are a few things you need to be familiar with:

Importance of insurance and safety on roads:

  1. The motor carrier is a commercial motor vehicle run by, controlled by, managed by, operated by, or leased by the owner. The vehicle may be used for the transportation of persons, objects, or property from one place to the other. But, at the end of the day, all these need safety and security. If something happens, the losses are profound and financially draining. 
  2. The motor carriers may be of varied sizes, but each one needs protection. Roads are dangerous, and mishappenings can take place anytime. Life is unpredictable and can belt out strange things unexpectedly. Your safety is paramount when you drive to and fro on the roads. Staying safe is a priority!
  3. You need to head to an insurance carrier with insurance professionals dealing with transportation and its laws. Transportation companies need protection because driving up and down the roads is risky. To stay safe, you need reliable transportation safety services and insurance agencies. They have immense industrial knowledge and are aware of all the laws relating to the state and plying on the roads. Moreover, they can help you identify all the risk factors that you may encounter. After this, implementing safety procedures will not be very tough.
  4. You can buy motor carrier insurance anywhere, but you need to choose someone well aware of the transportation and adequate protection for businesses. The companies need sound advice to manage risks efficiently all the time- while they are carrying the goods and while they are not. 
  5. Customers have needs, and the motor carrier, along with the insurance agency needs to understand this. The insurance claim needs quick and efficient handling. So choose an agency well versed in the risk management business and offering the best deals.

Key features of motor carrier insurance:

Motor carriers offer vehicles for different jobs. It may be carrying finished goods or raw materials to far-off or nearby areas. There are various commercial vehicles to do different jobs, but all of them need to be insured. What influences insurance?

  1. Size and type of the vehicle
  2. The function of the vehicle, and the kind of material they haul

These two factors influence the coverage and insurance of the vehicle. So, decide carefully!

Risk coverage of the Insurance policy:

1. Primary auto liability:

    Medical expenses and costs incurred for injuries need coverage if the vehicle driver is involved in an accident. Third-party action involvement may need coverage with a legal defense. This clause needs attention at all times, besides whoever is responsible for the accident.

In this, the insured motor carrier is protected from legal liability. This holds true in the case of an insured truck, usage of vehicles, maintenance of an insured automobile, and machine ownership. This policy provides Primary liability coverage. Thus, property damage or any injury to the body gets dealt with. The insured will get coverage for the legal defense costs. 

2. Physical damage or collision: 

    The vehicle gets coverage in case of a mishap, collision, overturning, or accident. The accident, theft, mishap, or vandalism may damage the vehicle. How can you cover the cost of the damage? The insurance company can be of help here! People owning trailers or motor carriers need this insurance coverage to get the damaged vehicle replaced or repaired. The motor vehicle is carrying goods that might get damaged or stolen in some untoward circumstances. Coverage is needed to safeguard this aspect. 

3. Motor Truck Cargo:

Sometimes, the motor carriers offer their machines on a “for-hire” basis. These carry freight from one place to the other. But, if the cargo gets damaged due to a collision, fire, or any untoward happening, insurance can take care of the expenses and the damage incurred. 

4. Non-Trucking Liability:

Sometimes companies take the vehicle on lease from a motor carrier. There is no coverage for the motor vehicle operation here directly but, non-trucking liability provides coverage for the forklifts, cranes, tractors, or other mobile equipment needed to manipulate the loads carried by the carrier. The value of loads carried by the motor carrier gets insurance coverage.

5. General Liability:

This insurance coverage deals with unpredictable circumstances that influence the business activities of the motor carrier. This may involve damages to property, person, objects, and business operations carried out by the insured party. In case, the insured person or motor carrier is liable for damage, insurance coverage comes to the rescue. The broader business aspect comes undercover here though it has nothing to do with the direct operations of the vehicle.

Prerequisites before you get the insurance policy coverage:

You can easily compare the insurance policy rates online. Pick the motor carrier insurance after a detailed study. Take a look at the most competitive rates and dependability factors of the agency. You may need to mention the following:

  1. Type and brand of the motor carrier
  2. Other details of the vehicle
  3. Details of the registration
  4. Weight and carriage capacity of the vehicle.

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