Many people believe that trucking is an easy industry to understand, and it is not always true. When it comes to insurance policies, commercial truck drivers have a lot of different options to choose from. It is important to get enough coverage, and also to get the right types of coverage; Federal Companies is here to help guide you along the way. Truck driving as a career means driving lots of hours, and some types of insurance coverage are mandatory. Even with the long hours the drivers spend on the road while they are working, there is still driving that happens when they are not dispatched.
Who Needs Non-Trucking Liability Insurance?
Many truckers still drive their big rigs when they are not working, for many reasons. In some cases, it is simply because it is what they are used to driving and they are most comfortable driving them. Standard trucking liability plans do not offer coverage during these moments, so another type of insurance is offered to provide coverage at these times. This insurance coverage is called non-trucking liability insurance.
What Does Non-Trucking Liability Insurance Cover?
Non-trucking liability coverage is liability insurance that pays for expenses that can come your way while using your commercial business truck for personal use. Even if it is to run an errand, such as going to the store, your business coverage might not suffice. Whenever you are not driving for business purposes, you are not covered under your commercial trucker’s liability or business auto policy.
Non-Trucking liability insurance covers costs of damage and injury to a third-party individual or business when driving a big rig truck during off hours. It is important to note that some insurance providers offer coverage for trips home after a drop-off or leaving the motor carrier as part of their motor carriers liability policy, and others do not. Sometimes it can depend on the state you are in.
What Are The Limits On A Non-Trucking Liability Policy?
The limits of an insurance policy are the maximum amount that an insurance provider will pay out per claim or policy period. Here, the limits are the maximum amount an insurance company will pay for damage or injury to a third-party.
Non-trucking liability plans have a pretty narrow scope, all things considered. When you are not on dispatch, remember though that dispatch generally includes your return trip to the point of origin, you might not be covered by any insurance plan without non-trucking liability coverage. You need this coverage in these cases; otherwise you are at risk of having to pay out-of-pocket for property damage or damage to a person that happens during your personal use of your commercial truck or automobile. This can add up fast.
How Much Does Non-Trucking Liability Insurance Cost?
Of course, like so many other things pertaining to insurance, there are many factors involved when determining how much non-trucking coverage costs. Fortunately, due to it having a narrower scope, it generally not nearly as expensive as other types of insurance. Your rates are determined by a review of your lease agreements, a review of your driving history, the frequency of personal driving that you do, and the amount of coverage you choose to get.
Another variable that affects your rates is the size of your deductible. A lower deductible means a higher premium. You can also ask trucking insurance providers about any available discounts you can get from bundling policies, or in other ways. Of course, the best way to save money on non-trucking liability insurance is to compare rates through multiple companies. That is where Federal Companies comes into play. Use the tools here to get free quotes on non-trucking insurance today.