Skip to content Accessibility info

Understanding Truck Insurance: Protecting Your Business

Understanding Truck Insurance: Protecting Your Business

Commercial Vehicle Insurance

Kissimmee, Fla./July 2023—Truck-based businesses are crucial investments, especially in the delivery and transportation sector. Trucks carry crucial goods from one place to another and help connect businesses and consumers through mobility. However, owning trucks means ensuring their safety and protecting your business from the financial risks they pose. That’s where truck insurance comes in.

Truck insurance is a type of coverage that protects businesses from any financial liabilities and losses associated with the operation of trucks. It includes a range of coverages that are vital for the safety of the truck, cargo, and driver, as well as keeping the business financially secure.

There are various types of truck insurance policies available, depending on the type of business and cargo being carried. Here are the most common policies:

1. Liability Insurance: Liability coverage protects the business against claims of property damage or injuries related to the operation of a truck. It covers damage done to third-party’s property, such as other vehicles and infrastructure, and medical expenses incurred by anyone who gets injured in the process. This type of insurance is mandatory in most states, and it is crucial for any truck-based business.

2. Cargo Insurance: Cargo insurance protects the business against losses incurred during transportation. It covers damage done to the cargo, whether through theft, accident, or any other incident. Your business is accountable for the loss or damage of your client’s property and reimbursing them can hit your bottom line. Cargo insurance can cover the cost and protect you from unnecessary financial risks.

3. Physical Damage Insurance: Physical damage insurance covers damages done to your truck, whether caused by natural disasters, fire, theft, or other unforeseen circumstances. It reimburses the business against repair or replacement costs. This type of insurance applies to new or low-milage trucks that businesses rely on to operate.

4. Workers’ Compensation Insurance: Workers' compensation insurance covers medical costs incurred by employees in case of work-related injuries or illnesses when driving trucks. This type of coverage is critical because trucking is a hazardous job. If an employee gets hurt on the job, their medical expenses and lost wages will be taken care of while your business avoids a lawsuit or financial penalty.

5. Bobtail Insurance: Bobtail insurance protects trucks that are in their downtime. It covers trucks that are not loaded, and the driver is no longer under the Motor Carrier Authority, which means they are no longer covered by the primary insurance policy.

Truck insurance is a critical investment for any truck-based business. Trucking can be a risky business, and accidents and incidents happen even when you take all the necessary precautions. Having suitable insurance policies in place can protect your business from financial risks and liabilities. 

As a local independent insurance agency, Kissimmee Truck Insurance works with top insurance companies in the market, so we can provide you with the right tools to make the best decision at the time of purchasing insurance coverage that truly matches your business’s needs. From Commercial Auto Insurance and/or Contractor Insurance, to Truck Insurance. Our Orlando location has served the insurance needs of the Central Florida community for over 12 years, by offering a full spectrum of truck insurance products and services for owners operators, and small to large fleets.

Talk to our fully bilingual, and experienced agents from Kissimmee Truck Insurance and let them know what your needs and priorities are. Give us a call today at (407) 203-7085— for an initial consultation and quotes from multiple insurance carrier choices who support us in Florida!