Gaps in coverage that can put your Trucking Business at risk
Imagine just for a moment that this is an actual conversation with your insurance agent named “Bob”.
“Bob, One of my trucks has been in an accident and I need to file a claim. It’s a bad one and my driver is hurt. The other guy is ok but banged up pretty bad. The truck is totaled and my load is scattered down the highway. The trailer doesn’t belong to me and it’s a twisted mess. I’ve got DOT asking a lot of questions about my insurance coverage. I need some help Bob. I need some help.”
As you read this, what’s the first thing that comes to mind? You’re probably thinking about Liability Limits, Collision coverage for your tractor and Cargo coverage for your load. But what about your driver? Who’s going to pay for his medical care, lost wages, and other issues? Do you have coverage for him? Are your liability limits high enough for all the damages? Do you have coverage for the non-owned trailer that’s now a twisted mess? Can you get a rental truck keep your business going?
This isn’t a pleasant scenario is it? But there’s hope.
Discussing your business operations annually with your professional agent will make sure that the gaps that are in your plan are plugged and filled. When’s the best time to discuss these gaps with your agent? TODAY!