Commercial Trucking Insurance in Austin
Why Do I Need Truck Insurance?
If you own and operate one or more commercial trucks, you need insurance coverage designed to protect you from liability risk – and to protect your investment. VOS Insurance Agency helps insure Austin-area truck owners, providing the protection and peace of mind they need. We understand Austin trucking insurance laws and DOT regulations, and we’re committed to helping protect our customers.
Just like with auto insurance, commercial trucking coverage includes liability protection and additional coverages to help truckers limit their losses when the unexpected happens. Commercial truck insurance can protect a variety of vehicles, including:
- Box trucks
- Dump trucks
- Tractor-trailers
- 18-wheelers
- Flatbed trucks
- Tow trucks
- Garbage trucks
- Auto trailers
So, Do I need commercial trucking insurance?
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Austin Trucking Liability Insurance
If your commercial truck is involved in an accident in Austin or elsewhere, it could cause significant damage to others on or off the road. Your truck could be involved in an accident, damage a loading dock, or even cause environmental damage. It is important to understand your potential risks and purchase sufficient insurance protection to mitigate those risks.
An auto liability policy designed specifically for commercial trucks can protect you against the financial risk that could come from unintentionally harming other people and their property.
Coverage Limits
The amount of coverage Austin commercial truck owners need depends on a number of factors, including the type, size, and number of trucks you need to cover. Some truck insurance companies require truckers purchase a minimum of $100,000 of insurance, with recommended coverage of up to $1 million. Your VOS Insurance professional can help you determine your coverage needs.
Physical Damage
Physical damage coverage for a commercial truck in Austin is similar to comprehensive and collision coverages for your personal auto. If your truck needs repairs after an accident, stolen, vandalized, or otherwise damaged, your physical damage coverage protects your bottom line.
Cargo Insurance
It’s important to insure your commercial truck in Austin, but it’s also important to insure the cargo you’re carrying. Cargo insurance does just that, helping protect you from having to pay for lost or damaged cargo out of pocket. Most truckers don’t own the cargo they are transporting. Truckers are usually required to purchase a minimum of $50,000 in cargo insurance, with recommended coverage of up to $100,000.
Non-Trucking Liability
Non-trucking liability coverage, sometimes incorrectly referred to as “bobtail” insurance, provides insurance coverage when you use your truck for non-business related activities. For example, going to the movies, picking up groceries, attending sporting events, or visiting friends would all be covered activities.
Trailer Interchange
Austin commercial truck owners often enter into trailer interchange agreements with other carriers, to haul other carriers’ trailers. If you are responsible for damage to another carrier’s trailer, your trailer interchange insurance covers your legal liability.
Uninsured Motorist Insurance
Unfortunately, there are vehicles on Austin-area roadways that are uninsured or underinsured. Uninsured motorist coverage can protect you if your commercial truck is involved in an accident where the at-fault driver either doesn’t have any insurance or has inadequate insurance coverage.
Medical Payments Insurance
If your Austin commercial truck is involved in an accident or incident that injured others or where death is involved, commercial truck medical payments coverage pays for medical expenses that are reasonable and necessary, as well as paying funeral costs for people who lost their lives as the result of the accident.
Owner-Operator Truck Insurance
Whether you are under a lease with another motor carrier or operate your Austin commercial truck under your own authority, you need the types of commercial trucking insurance described above.
If your truck is subject to a permanent lease arrangement with another carrier, that carrier likely provides some insurance coverage. However, such insurance is generally designed to protect the other carrier from third-party liability, not to protect you. Purchasing non-trucking liability insurance coverage can close the gap in coverage between you and the carrier’s insurance.
Owner-Operator Insurance Requirements
If you are operating your Austin commercial trucking business independently, Federal law requires you to purchase commercial auto liability coverage of at least $750,000. The state of Texas also mandates minimum amounts of insurance coverage. Truckers and trucking companies are responsible for making sure they meet minimum requirements.
