A recent American Transportation Research Institute (ATRI) study revealed a 47% increase in insurance premium costs per mile over the past decade. This substantial rise emphasizes the growing importance of making informed choices when selecting insurance coverage for commercial trucking operations.
After a truck accident, your mind must be occupied with various things. Notifying the insurance company immediately after the accident is essential. However, people get more concerned about their health, vehicles, and passengers. Therefore, knowing what to expect from your insurance policy may help you in your truck accident claim. An experienced truck accident lawyer may also be beneficial as they may guide you on how to proceed after the accident and fight for your best interest.
As insurance expenses continue to escalate, understanding the intricacies of coverage options becomes paramount for trucking businesses to navigate the challenging landscape effectively. Four fundamental questions to ask your truck insurance agent after an accident are:
- What Types Of Coverage Do I Need?
- What factors will affect my trucking coverage?
- What are the features of the claim process?
- Are There Additional Endorsements Or Riders?
What Types Of Coverage Do I Need?
Different truck owners will have different coverage for their fleet of trucks. Some types of coverage are required at the federal and state levels for safety. However, two of the fundamental types of coverage required are primary liability coverage and general liability coverage.
The benefit of these coverages is that they will protect your fleet when an accident happens or the drivers are at fault while your vehicle is off the road. Along with these two basic coverages, other coverages are required, which may vary based on your requirements. A commercial accident attorney may help you by telling you the importance of having insurance coverage when you are involved in an accident.
What Factors Affect My Commercial Truck Insurance?
There are various factors affecting the coverage that a trucking company may require. Some may include the following:
- The cargo you transport
- How far you travel
- Whether you use your trucks for personal use
- The types of trucks you run
- Whether you are crossing state lines
Along with these factors, the insurance expenses may vary based on several factors, such as:
- Your cargo
- The age of your equipment
- The number of trucks you have
- The distance you drive
- The experience of your employees
- Driving records of your employees
- Where you garage your trucks
What Are The Features Of The Claim Process?
Clarify the claims process and the steps to take if a commercial truck accident occurs. Learn about the documentation required, the timeframe for filing a claim, and how the insurance company handles investigations. A clear understanding of the claims process prepares you for potential incidents and ensures a smoother experience during stressful times. The claim process must include some essential features such as:
- 24-hour claims service
- Quick claims processing
- Simplicity of the claim process
- Online claims submission
- Access to a real person
Are There Additional Endorsements Or Riders?
Commercial truck insurance often allows additional endorsements or riders to enhance coverage based on specific needs. Inquire about options like motor truck cargo insurance, non-trucking liability, or downtime coverage. Assessing these additional coverage ensures that your policy aligns with the diverse risks associated with the trucking industry.
While understanding and securing the right truck insurance is crucial for risk management, accidents can still happen. Having a truck accident lawyer by your side is invaluable in the unfortunate event of a truck accident.
How Can a Truck Accident Attorney Help You?
A truck accident attorney can represent you in legal proceedings, protecting your rights. They navigate the complexities of personal injury law, insurance claims, and litigation on your behalf.
They are skilled negotiators who can engage with insurance companies to secure fair settlements. An experienced commercial truck accident attorney is prepared to take your case to court if a fair settlement cannot be reached. They provide litigation support, presenting a compelling case and advocating for your rights before a judge and jury.