How Does Insurance Work in Commercial Trucking Accidents
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By PAGE Editor
Christopher DiBella is the founding partner of DiBella Law Injury and Accident Lawyers. He knows the pain of injury from his own family’s experiences.
Chris earned his Bachelor’s degree from Boston University, graduating cum laude, and his J.D. from Suffolk University Law School. Among his many awards and recognitions are The National Trial Lawyers Top 25 Motor Vehicle Trial Lawyer, Top 100 Civil Plaintiff Lawyer, and Super Lawyers Rising Star.
With both skill and genuine empathy, Chris is dedicated to helping clients turn their struggles into successful outcomes.
How Does Insurance Work in Commercial Trucking Accidents?
Commercial trucking accidents can cause big financial and legal problems for drivers and trucking businesses. However, with the right insurance and a good understanding of how claims work, you can build a strong safety net for your business.
Each type of coverage, from collision to cargo insurance, helps protect you from different risks on the road.
This guide will cover the basics of trucking insurance and explain how a truck accident attorney can help you handle complicated claims.
Types of Insurance Coverage for Commercial Trucking Accidents
In commercial trucking, different types of insurance offer specific protections. Here's what each coverage does and why it's essential.
Collision Insurance
Collision insurance covers repair or replacement costs for your truck if it's damaged in an accident, regardless of fault. This insurance is essential for protecting your investment in the vehicle itself, as it ensures you won't bear the full cost of repairs or replacements after a collision.
Collision coverage is often required if your truck is financed or leased, as lenders want assurance their asset is protected.
Comprehensive Insurance
Comprehensive insurance protects your truck from non-collision-related damages, covering incidents like theft, vandalism, fire, and natural disasters. It's a critical addition to collision insurance because it offers broader protection for unpredictable risks beyond accidents.
Comprehensive coverage is ideal for safeguarding trucks in areas with high crime rates or severe weather, where risks like theft or hail damage are more common.
Some policies also include coverage for damage from falling objects or animal collisions, which can be especially beneficial on rural routes.
Commercial Liability Insurance
Commercial liability insurance is legally required for most commercial trucking operations, covering bodily injury and property damage that a truck driver may cause to others.
This coverage includes bodily injury liability, which pays for medical expenses and lost wages for third parties injured in an accident. It also covers property damage liability, compensating for repairs or replacement of damaged property like other vehicles or buildings.
Higher coverage limits are often chosen to cover potential large-scale accidents involving commercial trucks.
Cargo Insurance
Cargo insurance protects the items your truck is carrying. It pays if goods are damaged, lost, or stolen while being transported. This is important for businesses moving expensive or fragile items so you or your clients don't lose money if something happens to the shipment.
Many policies include options like spoilage coverage, which protects perishable goods if they're affected by delays or equipment failures.
Some policies also cover damage during loading and unloading, where goods are often at high risk.
Non-Trucking Coverage
Non-trucking coverage, or "bobtail" insurance, provides liability protection when a driver operates a truck for non-business purposes. It covers property damage and bodily injury if an accident occurs while the driver is off duty, such as when driving the truck home after a delivery.
Non-trucking coverage is crucial for owner-operators who occasionally use their trucks for personal reasons. It differs from commercial liability insurance, which only applies during business operations.
This coverage ensures drivers are protected even when they're not officially on the job.
Trailer Interchange Insurance
Trailer interchange insurance covers damage to trailers you don't own but use under a trailer interchange agreement. It's often necessary when trailers are swapped between drivers or companies, especially in freight and logistics industries.
This coverage includes protection against damages from collisions, theft, fire, or vandalism to borrowed trailers.
Trailer interchange insurance can prevent disputes and costly claims when handling trailers owned by others.
Uninsured/Underinsured Motorists Coverage
Uninsured/underinsured motorists coverage protects you if you're involved in an accident with another driver who lacks sufficient insurance.
This coverage is especially important for trucking businesses, as accidents with underinsured drivers can result in out-of-pocket expenses for vehicle repairs and medical costs.
If an uninsured driver hits your truck or hurts your driver, this insurance steps in to cover those costs. Normally, these would be paid by the other driver’s insurance, but if they don’t have any, this policy fills the gap. It helps keep your business safe and gives you peace of mind.
The Claims Process in Commercial Trucking Accidents
Understanding the steps in the claims process can help you handle things smoothly after an accident. Here's a simple breakdown:
Step 1: Report the Accident
Call your insurance company as soon as possible after the accident. Many insurers, like Great West Casualty, offer 24/7 support so you can report it right away. Share general information about the accident, like details on the driver and what happened, but don't admit fault, as it could be used against you later.
Step 2: Insurance Checks the Damage and Who's Responsible
After you report it, your insurance company will look at the damage and decide who was at fault. They'll review details like the accident scene, police reports, and statements from everyone involved. This helps them decide what's covered by your policy and how much they'll pay.
Step 3: Finalizing the Claim and Getting Payment
Once everything is reviewed, the insurance company will decide on the amount they'll pay for repairs, medical costs, or other losses. They'll then process your payment based on what's covered in your policy. If you disagree with their offer, you may want to work with an attorney to help negotiate a fair settlement.
How a Truck Accident Attorney Can Help with Insurance Claim
A truck accident attorney can help you with insurance claims by making sure you know your rights and get what you deserve. They go over your policy, collect important evidence, and talk to the insurance company to push for a fair payout. If needed, they can also go to court for you and fight to protect your interests.
If you are looking for a Boston truck accident attorney, DiBella Law Office offers expert guidance, free consultations, and dedicated advocacy to help you secure the best possible outcome.
Commercial Trucking Insurance FAQs
What should I do immediately after a commercial trucking accident?
After an accident, prioritize safety, call emergency services, and document the scene with photos. You should also gather witness contact information and report the incident to your insurance provider. Avoid making statements about fault, and consider consulting a truck accident attorney to protect your rights.
How long does the claims process take after a trucking accident?
The time varies based on the accident's complexity. Simple claims may settle within weeks, while disputed claims can take several months or even longer.
What happens if my cargo is damaged in an accident?
If you have cargo insurance, it will cover the value of lost or damaged goods, reducing the financial impact of the accident.
Do I need occupational accident insurance if I'm an owner-operator?
Yes, if you're an owner-operator without workers' compensation, occupational accident insurance can cover medical expenses and lost income if you're injured on the job.
Conclusion
Insurance in the commercial trucking industry is essential for managing the financial risks associated with accidents.
Take the time to review your insurance needs based on factors like your vehicle type, cargo, and operating radius.
The right coverage—alongside assistance from a qualified truck accident attorney—ensures that you're prepared for any incident. With a clear understanding of your policy options and a legal expert to advocate on your behalf, you can protect your business and navigate the aftermath of accidents more effectively.
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