Dump Truck Insurance
Whether you own your own dump truck, or you operate a dump truck leased to a motor carrier, dump truck insurance is vitally important.
Your dump truck is an essential element of your business and you need to maintain financial protection for it. Also, in all likelihood you are legally required by your local laws to purchase dump truck insurance to operate this type of commercial vehicle.
What Is Dump Truck Insurance?
Dump truck insurance is a special type of commercial auto insurance designed specifically to cover the risks involved with the operation of dump trucks for business purposes.
Who Needs Dump Truck Insurance?
Typically, commercial dump truck insurance is needed by:
- Motor carrier who work with dump trucks.
- For-hire drivers of dump trucks.
- Independent owner operators of dump trucks.
In a more general sense, if you are at all responsible for the operation of a dump truck, you should make sure that the truck is covered by dump truck insurance.
Because of their massive size, accidents involving dump trucks can cause very severe damage and injuries that result in greater financial losses than most accidents involving passenger vehicles.
Dump Truck Insurance Coverages
Several types of coverages exist within the category of commercial dump truck insurance. This allows you to customize your policy to fit your business needs.
Common types of dump truck insurance coverages include:
- Liability insurance – This type of car insurance is most commonly required by law, and you will need it for your dump truck. Liability insurance is made up of the following coverages:
- Bodily injury – This pays for the injuries to the other party when you (or an employee) are at fault in a collision.
- Property damage – This pays for damage to others’ property incurred during a collision you (or an employee) caused.
- Non-trucking liability insurance – This liability insurance is meant to specifically cover you when you are driving your dump truck while not on dispatch.
- Physical damage – This type of coverage will help with costs associated with repairs or replacement of your dump truck if it is damaged. Physical damage is usually broken up into:
- Collision – This covers damages from traffic collisions.
- Comprehensive – This covers damages from most non-collision incidents, such as damage from severe weather.
- Cargo insurance – This will help cover costs if your cargo is damaged during transportation. This is especially necessary if you are a for-hire driver who hauls clients’ property.
Commercial Truck Insurance Filings
Depending on what type of business you conduct with your dump truck, and where you do that business, you are subject to required federal and state insurance filings to certify that you meet certain commercial auto insurance requirements.
Your commercial auto insurance company can assist you with these filings.
Purchasing Dump Truck Insurance
Dump truck insurance is readily available through companies who offer commercial auto insurance coverage. Several of these companies offer easily accessible online dump truck insurance quotes.
It is always a good idea to comparison-shop between multiple providers to help ensure you get the best commercial insurance policy for your business at the best price.