Protecting your assets is an important part of being a business owner, and having proper commercial vehicle insurance coverage is just one layer of protection business owners need. Whether you own one dump truck or a fleet of dump trucks, you need proper commercial truck insurance coverage.
What is Dump Truck Insurance?
Dump truck insurance falls under the general category of commercial vehicle insurance. Similar to any other commercial vehicle, owners of dump trucks are required to have liability insurance coverage before these trucks can be legally driven or used for jobs. This type of coverage is particularly important for heavy-duty vehicles such as dump trucks that can cause significant damage.
What Does Commercial Dump Truck Insurance Cover?
Basic dump truck insurance policies provide the mandatory coverage required to operate these trucks, which includes the minimum bodily injury and property damage liability coverage amounts required by state law. To ensure you and your business are fully protected, however, you’ll want to consider the following additional coverage options for your dump truck:
Provides liability coverage if you are involved in an accident while driving your truck during off-work hours. Non-trucking coverage is designed for independent owner/operators with contract jobs.
Motor Truck General Liability Insurance
This type of coverage protects you from liability and comes into effect if you cause damage to your customer’s property while operating your dump truck on their grounds.
Physical Damage Insurance
Physical damage insurance covers any damage to your dump truck and is usually required by dealerships if you are leasing your vehicle.
This will cover the repair of damage to your dump truck if you collide with another vehicle or object.
Fire and Theft Insurance:
This comprehensive insurance provides compensation for damages to your vehicle caused by fire or theft.
Motor Truck Cargo Insurance
Motor truck cargo insurance covers the cargo you haul on your truck and is sometimes required if the cargo you haul is valuable.
Rental Reimbursement / Downtime Insurance
If your truck is damaged in an accident, this coverage will allow you to continue your business operations while your truck is being repaired. It also covers losses if continuation is not possible.
Off-Season Comprehensive Only Insurance
Protects your vehicle while it’s not in use if your business is seasonal.