Trucking Insurance in Florida
Insurance Policies for the Florida Trucker
Without a doubt, the trucking industry is one of the most important industries in the country. It can be quite a demanding job with plenty of responsibilities. Choosing the right trucking insurance policy will keep both you and the truck safe while on the road in Florida. There are different coverage options and, to make the right decision, it is essential to understand the different options. Trucking coverage options include:
Coverage for physical damage
It covers physical damage to both your truck and the trailer. However, the premium paid differs because it depends on the value of the equipment, meaning it is calculated as a percentage of the equipment value. Physical damage insurance might not be required by law in Florida, but it is important to have it. Ensure that you insure your properties real value and not over or under because the insurance company only pays market value when you incurred losses.
Auto liability insurance
Unlike physical damage coverage, auto liability insurance coverage is required by law in Miami, FL and throughout the state. According to the law, every carrier is expected to carry liability insurance even if they have leased the truck. With liability insurance, you are covered when a third party is injured in an accident.
Just as the name suggests, general liability protects the business from any property damage or injury to the body where the truck is not involved. Simple accidents at the place of business can be quite expensive and can even run your trucking business down with legal fees.
Cargo insurance coverage is meant to cover any damage or loss that happens to the freight while in transit. It is crucial to understand cargo insurance because it has many exclusions. Exclusions include a maximum theft limitation on certain targeted commodities and unattended vehicle situations among others.
If you are looking for trucking insurance options from B & G Insurance, we have a staff that is ready to work with you and figure out your insurance needs. Contact us today or visit our offices in Miami, FL for more information.