Questions to Ask an Insurance Company Regarding Their Commercial Truck Policies

So, you have finally decided to get an insurance policy for your commercial truck for business purposes. That means you’ll be facing a lot of problems and many questions to ask to ensure that you’ll be able to select the best insurance provider for your business. There are a lot of criteria and considerations a truck owner must consider when signing a policy. To know if those criteria are met, you have to ask a series of questions first. On the other hand, without an insurance policy, it will be difficult to get a settlement after an accident. That said, if you have already been involved in a commercial truck accident, it’s very important for you to find out why hiring a lawyer could help you get the settlement you deserve.

1. Are There Any Special Regulations?

For some businesses, special regulations may be applied when it comes to operating certain types of vehicles. For example, some companies that transport cargo across the state should meet the requirements implemented by the Department of Transportation. Likewise, businesses that transport hazardous materials may be subject to both federal and state regulations. Considering that, it’s important to figure out if your insurance company is familiar with these. They must know how the laws would affect your business, and they should be able to discuss how their policy can cover those.

2. What Is Your Claim Policy?

Truth be told, it’s actually the claim policy that could help a commercial truck owner determine which insurance company is the best. For example, the best auto insurance companies offer 24-hour customer service and you’ll be assisted right away in case you have any claim. Likewise, their response time will just be in a matter of hours and would try to resolve your problem as soon as possible. Responsible agents would not avoid your calls and they’d take part in the claiming process. This is very important because there are a lot of truck drivers who would rather discuss their issues with an agent instead of an adjuster.

3. Will Your Insurance Policy Cover Personal Use?

Some insurance policies also cover the personal use of commercial trucks. Ideally, you should ask your provider if your policy would be able to cover this, or you should get a separate policy if you’re also thinking of using your vehicle for personal use.

4. How Much Coverage Do I Need?

A lot of insurance company would suggest that you get a liability coverage of $500,000 at least, and a limit of $1,000,000. If your business has an umbrella policy, this liability coverage would offer protection for hired, owned, and non-owned autos.

5. Is It Possible to Lower My Premium and How?

There are a number of ways on how you can reduce the premiums. This includes hiring qualified truck drivers with good driving records, installing safety devices, and choosing higher deductibles. Your insurance company should be willing to discuss these options with you. Aside from that, it will also be ideal if you’ll ask about the discount programs they probably have– this includes paying upfront, the use of licensed commercial drivers, and buying several insurance companies. A reliable auto insurance provider won’t hesitate to discuss some of these.