Since 1913, Federal Logistics has served customers with their distribution needs in Illinois, Wisconsin, Indiana, Iowas,Michigan, Missouri, Nebraska, Kentucky and Kansas. With Federal Logistics final mile transportation and warehousing services, Federal Logistics can cover all of your customers in the midwest. Whether you need expediated, next day deliveries,order pick and pack service, midwest regional distribution to your customers, let Federal Logistics be an extension of your brand to your customers. Federal Logistics food grade facility is AIB Certified and provides a safe, secure, and professional storage facility to hold your inventory. With Federal Logistics locations within 500 miles of 65% of the nations population, Federal Logistics can get your inventory to your customers when they need it. Call Federal Logistics today at 309-694-4500, and let us serve your customers in Illinois, Indiana, Wisconsin, Missouri, Michigan, Kansas, Kentucky, Nebraska and Iowa.
Commercial truck insurance
There are plenty of costs and expenses that businesses which utilize trucks incur. Payments on the trucks, and fuel costs are some of the financial expenses, but other costs can come from utilizing one or more vehicles commercially. One of the most important things, however, and a significant expense, is commercial truck insurance coverage. This type of insurance is a fixed cost, and it is often crucial to get the best deal possible on the coverage.
With more expensive vehicles, cargo that can be damaged in an accident, cargo that can be stolen, and a number of other unexpected and sudden expenses that can stem from owning a commercial truck or trucking company, getting the right insurance policy at the best rates for commercial trucking insurance possible can be essential to keeping your company as profitable as it can be.
People and companies that are hauling freight are required by law to have a minimum of $750,000 of liability coverage. This is protection if you, or one of your trucks, is involved in a significant accident. Many people choose to get higher coverage amounts, and some shippers and brokers require larger amounts as well.
There is also damage insurance, and while it is not a legal requirement, it can be hugely beneficial. Be sure to ask if towing is included as part of your policy as well. This can be very expensive, costing thousands of dollars in extra fees if you have to pay out-of-pocket.
Another type of insurance coverage that you might be interested in is lease gap insurance. This insurance covers the difference between what you receive as a settlement and the amount that you still owe on a loan after a crash.
What is Required to be Eligible for Commercial Truck Insurance?
To be eligible for commercial truck insurance, you will need to answer a number of questions about both your business and your experience. This is generally in the form of an insurance packet, which often gets forwarded to the underwriter for your insurance quotes. The type of commodities that you move, the areas that you operate in, your previous trucking experience, and the safety and security policies that your company has in place can all impact how much your insurance policy costs and which insurance policy is best for you.
How Much Does Commercial Truck Insurance Cost?
There are several different variables that help determine how much your truck insurance will cost. In addition to the type of cargo you are carrying, your experience as a company, and other variables, you should also keep in mind that, like auto insurance coverage, your insurance will have a deductible. The lower the deductible is, the higher your insurance premium will cost.
There are no legal requirements for cargo insurance coverage. Even so, most shippers/brokers require this type of insurance to protect the freight being shipped. In many cases, a truck fleet will need as much as $100,000 or more in cargo coverage. There are other types of insurance that you may consider purchasing as well. This can include Non-Trucking Insurance and Workers Compensation.
There are well over 30 different types of insurance that commercial truck companies can provide. If you are hauling expensive cargo, it is recommended to get enough coverage to pay for the cost of what you are hauling if it is destroyed. Regardless of the types of insurance you purchase, and the cargo you are hauling, you will want to find the best deals for commercial truck insurance. Utilizing the best commercial truck insurance providers, you can find the right insurance policy for you. Keep in mind that the cheapest policy might not be the best one. At Federal Companies, you can get quotes for insurance, as well as having the best tools to help you get the top commercial truck insurance plan for you.