The insurance needs of a company change over time as the business grows, adds employees or expands their range of operations. Trucking companies are no different. When it’s time for you to enter the trucking liability market, you can save yourself time and effort by doing some basic research first. By familiarizing yourself with the potential risks and liabilities your growing business faces, you’ll find it easier to explore the various insurance products available to your company.
The insurance requirements of your trucking enterprise extend beyond the need to protect your vehicles and their cargo. Your company also needs protection from the risks that arise from the day-to-day business necessities of hauling freight. Often, a trucking company must carry general liability coverage in addition to auto liability. Knowing the difference between general and auto liability and having the extra protection that a general liability coverage policy provides, could mean the difference between surviving a lawsuit from a missed delivery and closing your doors for good.
A well-defined insurance portfolio for your company does more than protect your assets; it delivers you peace of mind. Give your firm the legal protections it requires by carefully reviewing your insurance needs before you enter the trucking liability market. Your preparation improves your chances for finding the right policy package for your company.