Two of the main coverages that constitute Liability Insurance are, Bodily Injury and Property Damage insurance. These coverages pay for another party’s injuries and repairs after an at-fault accident. Bodily Injury coverage could include medical expenses, rehabilitation, and lost earnings. Property Damage insurance policies cover damages to someone’s vehicle, residence, or other properties. Generally, both Bodily Injury and Property Damage insurance are legally required.
Motor Truck Cargo Insurance provides coverage for freight or commodity that is hauled by a for-hire trucker in case cargo is damaged. This could include damage caused by fire, collision, striking, spoilage, etc. In addition to paying for the cost of the lost or damaged cargo itself, some policies also pay costs to remove debris or pollutants caused by the debris, if a load accidentally lands on a roadway or waterway.
Physical damage insurance provides protection against loss or damage to your covered vehicle resulting from an accident with another vehicle or object. Physical damage insurance is important for motor carriers and owner operators to carry and in many instances required based on if there is a lien holder.
Occupational accident insurance coverage provides benefits to the truck drivers and owner operators injured or killed in a job-related accident. If you diver or owner operator gets injured on the job Occupational Accident coverage will pay medical expenses and downtime while injured is recovering. In case of accidental death while on the job, Occupational Accident coverage will pay a generous amount to the beneficiary to help with a lost income.