The world of commercial auto and transportation insurance is huge. There are literally dozens, if not hundreds, of different types of policies and coverages, plans of all shapes, sizes, and scales. That’s why you need to make sure you find the right policy for you, based on a host of different factors. Here’s how commercial transportation insurance varies between so many different types of plans.
One of the first places to look is the industry you are in and the type of business you are operating. The scope of this alone can be enormous. For example, with the same 18-wheeler, you could be delivering goods within a state or across the country. Or it could be a domestic move, either locally or nationally, or it could be doing all other types of chores. The industry you are in and the resulting locations you are in and the materials you are moving are important factors in your coverage.
Along with that, also consider the way your business is run or your level of involvement. For example, do you own a fleet of different trucks? Or are you the owner of a truck operator and work directly with customers? Maybe you don’t own your vehicle and are a contractor or work for an employer and their fleet of vehicles. All of these require different commercial auto insurance policies.
Of course, the biggest area of ​​difference when it comes to commercial transportation insurance coverage is the type of vehicle being operated, along with past variations in type of industry and ownership or stake status. The range of vehicles that require commercial insurance is absolutely huge.
Sure, there are large flatbed trucks, but even within that, it could be refrigerated trucks, flatbed trucks, or even log haulers or car transporters. You need commercial insurance for your truck, van, or even regular car, if you are hiring or doing other work for your business inside your vehicle. Then there’s the wide range of specialty vehicles, including everything from garbage trucks to HAZMAT vehicles, food trucks to non-emergency medical transportation, and much more.
Lastly, keep in mind that much of this is fluid. There are always changing regulations, as well as new entrants to the market. Look no further than Uber’s complex area and rideshare insurance regulations in this regard.
Make sure you find the right type of commercial auto insurance for your specific needs based on all of the above. If this seems like a lot to figure out, and it certainly is, be sure to work with an experienced professional who can get a fair quote on a policy tailored for you, your vehicle, and your business.