Flywheel packages the four business-critical coverages that every trucking company needs into a single policy. Partnering with Flywheel helps protect your business by providing the coverage you need while offering some of the best rates in trucking.
Commercial auto liability insurance is an important, required safeguard for every trucking business. Auto liability applies to trucks owned by or used in your business that protects you against liability for damages caused by accidents. Auto liability covers three types of damages caused by an accident involving a covered truck: bodily injury, property damage, and pollution cleanup. This coverage protects your business if you or one of your employees causes injury or damage to another party while driving and are deemed to be at fault for the crash. Most states require a minimum amount of liability insurance for registered vehicles.
General liability is an important coverage for trucking companies, providing protection against any property damage or bodily injury that may occur, not involving a truck. This coverage is important because it can help pay for things like repairs to the other person's property, medical bills, and even help protect your small business from the high costs of lawsuits. General liability insurance is not required by law, but Flywheel includes this common coverage in our policies as many shippers/brokers, clients or lessors make it a requirement to doing business.
Cargo insurance, also known as motor truck cargo insurance, provides insurance on the freight or commodities hauled by your trucking company. Coverage insures against the risks of direct physical loss to covered property while in transit, loading or unloading; and while at a terminal or dock awaiting final distribution. There is no federal requirement of cargo insurance for motor carriers who do not transport household goods however, it is imperative that trucking companies purchase cargo insurance to effectively protect their goods transported.
Physical damage insurance provides protection against loss or damage to your covered tractors and trailers resulting from an accident with another vehicle or object. This insurance coverage is for repair or replacement for damage resulting from things such as collision, fire, theft, hail, windstorm, earthquake, flood, mischief, or vandalism to your owned trucks, which is why it is so important for trucking companies to carry and in some cases, may be required by lien holders.
In addition to these key coverages, there are numerous other lines of coverage that may be necessary, or that you might consider based on how you run your trucking operation. If you are interested in additional coverage options, please contact us at quote@goflywheel.com and our team will be happy to assist.