About Insurance
Liability insurance
Liability insurance is a part of the general insurance system of risk financing to protect the purchaser (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy. Commercial auto insurance is liability coverage, which US DOT requires. It covers a driver liable for damaging cars or injuring others. In other words it helps cover the financial responsibility if you or an authorized driver is at fault in an accident and people are injured or their property is damaged.Trucking Liability Insurance will not cover damage to your own vehicle. It also doesn’t protect you in the event of theft, fire, vandalism or other disasters that may occur to your truck. It also doesn’t cover damage to your trailer or cargo.
Physical Damage insurance
Physical Damage insurance is a type of insurance that covers damages to your truck and trailer. This type of coverage is typically offered as part of an auto insurance policy. Physical Damage is a general term for a group of insurance coverages that protect your vehicle.Physical damage policies do not pay out for damage done to cargo. The typically Physical Damage policies do not cover driver’s personal items, electronics, tarps, chains, binders, tools as well as any non-permanently attached equipment to the insured’s tractor or trailer.
