Trucker Liability
Trucking liability insurance is a form of policy that the Federal Motor Carrier Safety Administration (FMCSA) provides, much as auto insurance is for the vehicle you drive every day for personal use. That coverage, according to the FMCSA, must cover all bodily injury and property harm.
What Trucking Liability Insurance does for you
Damage to your vehicles is not covered by trucking liability insurance. It also won’t cover you in the event of a robbery, crash, vandalism, or other tragedy involving your truck. Damage to your trailer or freight is also not protected.
On a “scheduled vehicle” basis, trucking liability insurance is normally rated and provided to you. The term “scheduled” simply means that each truck under your control must be scheduled or specified on the insurance policy. If the vehicle is not specified on the schedule, the insurance provider is not obligated to have coverage for it. If you just have a few vehicles, this is a good option.
For larger fleets, the policy can be issued on an “any auto” basis where no vehicle schedule changes are needed. This type of policy insures you for your use of owned, non-owned, hired vehicles, subcontracted vehicles, even for the use of private passenger type vehicles. These policies can be written on gross revenue or mileage premium rating method. In most cases selecting these options properly simplifies and can reduce the overall cost.