There are several different types of insurance that you can get for your truck adit’s important to make sure that you have all of the facts so you can figure out the plan that is best for you. Getting some Trucker insurance Chicago IL is something that can’t be avoided when you are driving a truck commercial truck. If you get caught driving without it, you could be facing some hefty fines along with losing your license and possibly even being charged criminally. There is a good chance that you will need to carry multiple types of insurance on your truck and the goods that you are hauling. Here are just a few types of insurance that you can get on your truck.
Primary Auto Liability
Primary auto liability is required on a federal level. Even if you are just leasing a unit, you still must carry this type of insurance to legally be allowed on the road in the United States. If a third party is hurt from an accident, this is the type of insurance that should compensate them. If your truck is being leased, the insurance may be covered by the company, if not the cost usually comes out of your checks.
Physical damage insurance is what you will need to protect our truck and trailer themselves. The premium that you will be paying is based on how much the equipment that you are using is worth. Usually, the premium is a percentage of the value of the equipment. While you are not legally required to hold this type of insurance, it’s still a good idea so that you have help if an accident happens. Your vehicle must e insured at its real value because that is how much the coverage will be for, nothing more and nothing less.
Cargo insurance is the insurance you will need to cover the load that you are hauling in your truck. There will probably be a lot of exceptions to what this type will cover and it’s important to keep all of this in mind when making a claim. For example, if you left the cargo unattended and it was stolen, there is a good chance that it won’t be covered by your plan. There are also exceptions in coverage for different types of items such as liquor and luxury goods such as clothing.
While you may think that the load you are hauling will be safe in the terminal, there is always a chance that something will happen. There are also rules surrounding this type of insurance as well if the cargo has been sitting in the terminal for more than 72 hours. If your cargo will be stored for longer, you should consider purchasing terminal legal coverage as well to make sure that everything is kept safe. Once again though, it’s important to read through everything in your policy so that you know what is and isn’t covered by the plan that you have chosen.