Trucking Insurance FAQs

Q:

What are somethings I should consider when purchasing Trucking insurance?

A:

There are many factors you should consider when purchasing truck insurance that we can help you with. Here are a few:

• What is the amount of liability coverage sufficient to both fulfill your shipper's requirements and protect your assets?
• What optional coverages such as Downtime, Non-Owned Physical Damage, or Installation floaters might be necessary based on your operation?
• What is your projected business plan and/or current daily operations? There are real differences between insurance companies on such issues as driver criteria, fleet growth, and types of specific operations they will cover.
• Don't base your decision solely on price. Other factors like commitment to writing Truckers coverage, financial rating, loss control services, and claim response will matter to you eventually.

Q:

Would my insurance policy cover a trailer I borrow from a friend?

A:

Yes, for third-party auto liability exposures however in the event of physical damage to the trailer itself you need to be carrying Trailer Interchange or Non-Owned Trailer Physical Damage coverage. Any scenarios regarding the use of non-owned equipment, no matter who you have it from or duration, should be reviewed with RIG.

Q:

What is Collision Physical Damage coverage?

A:

Collision is the coverage that reacts to the potential loss when your vehicle collides with another object (vehicle, wall, telephone pole, etc), an object collides with your vehicle, your vehicle overturns, or deer.

Q:

What is Comprehensive Physical Damage coverage?

A:

Comprehensive provides coverage for direct physical damage losses you could incur to your vehicle from causes of loss such as theft, fire, vandalism, or hailstorm.

Q:

How can I start to lower my truck insurance rates?

A:

1) Talk to RIG and review your insurance. Get a fresh perspective on your operation.

2) Invest effort in compliance with the DOT regulations and safety in general.

3) Control your losses to the extent possible. Ask us how.

4) Review your limits and deductibles; are you insuring what actually matters to you? Don’t accept a cookie-cutter approach.

There are many variables that come into play when pricing is calculated. Changing any one of them can have an effect. RIG works with their clints to craft an individual tailored plan that will keep your price as competitive as possible without sacrificing coverage.

Q:

How fast can I obtain certificates of insurance?

A:

With the RIG24 system you can obtain them anytime, 24/7, whenever you enter the request.

Q:

Aren’t all Motor Truck Cargo policies the same – why does my broker say they won’t accept certificates of insurance from ___________?

A:

Every Cargo policies’ wording and coverages (ie “The Fine Print” ) is essentially different from every others to some degree. This may have resulted in a previous uncovered claim for the shipper or broker. Policies may differ on how much they pay in a given loss to cargo being hauled or whether it is covered at all, to coverage extensions such as Debris Removal or Pollution Clean-Up. The right Cargo policy is absolutely vital as in effect it insures your relationship with your shipper.