Truck Accident: How does Insurance work with Commercial Truck Accident Liability?

Accidents with a truck or a trailer can lead to catastrophic injuries, which can result in hefty medical bills, lost wages, and legal fees. Thus, it is imperative that a commercial truck company have insurance so that in the event that one of its drivers gets into an accident, it is covered.

However, because they are a commercial trucking company, they have different requirements than personal insurance.

What is the difference between commercial insurance and personal insurance?

1. The key differences are, that the coverages vary greatly between them:

   1. Commercial Insurance:

      1. Protects the businesses assets.

      2. Physical damage;

      3. Uninsured motorist coverage;

      4. Medical expenses;

2. Personal Insurance

   1. Protects individual personal property

      1. Auto;

      2. Homeowners;

      3. Renters;

      4. Life insurance.  

What are the insurance requirements for a commercial trucking companies?

• Short answer is that it depends. It depends on what they transport. If it is a company that transports hazardous chemicals, it will need a different type of coverage than someone who transports only sports equipment for a retail chain.

• Some of the areas of coverages that insurance companies provide:

  • General liability

  • Cargo

  • Liability

  • Physical damages

  • Non-truck liability

  • Uninsured and underinsured motorists

  • Personal injury protection

Thus, to be able to even have a commercial trucking company you need to have the necessary coverages so that you and your company are covered in the event of a trucking accident.

Thus, it is very important to consult with a truck accident lawyer that is experienced in commercial trucking accidents. An attorney that is experienced with commercial trucking accidents understands and is familiar with the intricacies of these polices.