What coverages do semi policies come with?
Semi truck policies offer a variety of coverage options that help protect the truck, any cargo and the business. Some common and important protections include:
- Physical Damage Coverage: Might cover damage to the truck resulting from accidents or other incidents.
- Medical Payments Coverage: Might cover medical costs arising from injuries to drivers.
- Equipment Coverage: Might cover driver-owned belongings and company-owned accessories (e.g. navigational devices, chains and tarps) kept on the truck.
- Motor Truck Cargo Coverage: Might cover cargo that's damaged or lost while loaded on a trailer.
- Non-Trucking Liability Coverage: Might cover owner-operators when using a truck for non-work reasons.
- Bobtail Insurance: Might cover tractors when they don’t have any trailers attached, and are being used.
- Non-Owned Trailer Coverage: Might cover damage to third-party trailers when they’re hitched to a tractor.
- Occupational Accident Coverage: Might cover work injuries that owner-operators sustain.
Some of these may be required by law, lender or customer. Federal law generally requires certain coverages if trucks are crossing state lines. Lenders often require physical damage coverage when a truck is financed or leased, and customers might insist on motor truck cargo coverage.
Regardless of required coverages, businesses are encouraged to get robust coverages for their trucks, drivers and cargo. An insurance agent who specializes in semi policies can help businesses decide exactly what coverages and limits they should carry.
Does tractor-trailer insurance cover hazmat materials?
Businesses that transport hazardous materials in tankers can likely find the coverages they need through a tractor-trailer insurance policy. There are special considerations to take into account, however, and not all tractor-trailer policies will work. A policy might need particular terms that include protection for hazmat, or an endorsement that adds on such protection.
An insurance agent specializing in tractor-trailer insurance policies can help make sure businesses get a policy that includes coverage for hazardous materials if such protection is needed.
How much are premiums for tractor-trailers?
Premiums for semi trucks depend on numerous factors, such as:
- Number of trucks being insured
- Year, make, model and condition of the trucks
- Routes driven and annual mileage
- Categories of cargo hauled
- Experience and driving record of all drivers
Businesses can find out how much it’ll cost to insure their trucks by comparing policies with an independent insurance agent. Independent agents are able to compare coverage and rates across multiple insurers, simplifying the process of finding a policy that offers necessary protections at a reasonable cost.
How can Massachusetts businesses get semi truck insurance?
If your business requires insurance for tractor-trailers registered in Massachusetts, reach out to the independent insurance agents at Roger Keith & Sons Insurance. We’ll work with you to assess coverage needs, and then find the best semi-truck insurance policy for your tractor-trailer or fleet of trucks.
