Myths to Know About Commercial Truck Insurance

Commercial Truck Insurance

Myths to Know About Commercial Truck Insurance

As a trucker, you probably already know that a commercial truck insurance policy is necessary to operate. As you shop around, however, it is important that you can tell the myths from the facts.

Employees Are Always Covered

Some people mistakenly believe that employees are covered under their insurance policy. This can be devastating if an employee is an accident and you discover that he or she was not covered under your policy. To make sure that your commercial coverage includes employees, you need to make sure that there is a permissive use option. Otherwise, you have to name the other drivers of the rig.

Insurance Premiums Don’t Change

When you invest in a commercial truck insurance policy, you might think that your premiums are going to be set in stone. However, you do have control over your premiums. If you have a higher deductible, you can reduce your premiums. Also, certain company safety programs can lower your premiums. Some companies will even provide discounts on premiums if you have a dashcam or other accountability system installed.

When you’re shopping for insurance, there are a lot of details that you have to consider. First and foremost, you need to make sure that you are aware of all of the facts about coverage.


Insurance Agents

Finding Insurance for Insurance Agents

Professional liability coverage is a must-have in most of today’s trades and professions, especially for practitioners who work for themselves. Insurance brokers and independent agents alike need protection against the everyday errors and omissions that can happen due to unforeseen emergencies or even simple but unfortunately expensive mistakes. Sooner or later, everyone winds up in a situation where a customer makes a claim for damages, whether or not it’s justified. Robust E&O insurance for insurance agents doesn’t just cover those damages, it also helps pay for the costs of litigation where necessary.

Professionals Serving the Insurance Industry

There’s a reason why most insurance advice comes down to working with the experienced agents who really understand your industry, and when you work in the insurance industry, the advice still holds. Your most effective and well-written coverage quotes are going to come from people who have a lot of experience covering the people who sell insurance to others, no matter what kinds they sell. While the kinds of insurance offered vary, the kinds of liabilities faced by agents and brokers are broadly similar across the industry. That makes it easy for experienced players to quote accurate coverage for insurance industry clients. It’s easy to see why you benefit from working with someone whose expertise in this niche goes as deep as your own expertise in yours.


Marina

Getting the Right Coverage for Your Marina

When you’ve got a marina or yacht club to run, you have to think about the needs and risks associated with your business on both land and water. Your facilities and equipment are exposed to damages that are specific to maritime-based businesses and operations. Additionally, your employees, club members and other personnel expect you to have the right insurance policies in place that protect the various aspects of your marina or boat club.

Understanding my Insurance Needs

In addition to typical coverages for property and worker’s compensation, you should also have sailing club liability coverage. Such a policy should be customized to address typical marina or sailing club considerations:

  • Marina facilities and grounds
  • Hull and liability protection for watercraft fleet
  • Regatta liability protection
  • Sailing school education
  • Chartering
  • Club member property

Your specific business may also benefit from a policy that also addresses Jones Act Coverage for workers, Race Management Errors & Omissions, Directors & Officers Liability and other protections.

Working With the Right Insurer

While there are many insurance providers out there, it’s best to go with one that specializes in covering marinas and sailing clubs. You don’t want to work with a provider that’s willing to take your money but can’t offer guidance or products that truly keep your operations covered.