If you’re a truck driver, then you know how difficult it can be to find the right insurance for your vehicle. With so many types of insurance available, from liability to collision coverage and more, it can be hard to keep track of what’s necessary and what isn’t. In this blog post we’ll discuss six things that every truck driver should know about buying car insurance.
1. You must carry some form of car insurance to legally drive your truck.
First, let’s start with the basics. As a truck driver, you are required by law to maintain certain minimum amounts of auto insurance on your vehicle at all times while driving on public roads. This type of coverage is called “liability” or “bodily injury” insurance, and it is designed to cover the medical bills of people in other vehicles or in other involved parties in accidents that were your fault.
2. You can’t get by with just minimum liability coverage
While meeting the minimum amount of liability coverage is required to legally drive your truck, you should be aware that this type of insurance isn’t designed to fully cover you or your costs in case of an accident. If there is a serious injury or fatality due to an accident that was your fault, then the medical bills alone could be more than what even a high-quality policy would cover.
3. Your employer probably offers discounts on truck insurance policies
Many trucking companies offer their drivers access to discounted insurance rates through their own trust funds, called “Truckers Mutual Benefit Association” or “TMBAs.” Depending on the company you work for, these companies may be at least partially funded by money deducted each week from your paycheck.
4. You should not rely on your spouse’s auto insurance policy to cover your truck
Also, be aware that if you’re married, some insurance providers may consider your spouse’s car insurance policy to be primary coverage for both vehicles. If the other vehicle is involved in an accident caused by you, then their insurance would pay out first, with yours being used only after all of the funds have been exhausted from the other policy.
5. Consider extending your insurance coverage beyond liability on your truck
Even if you have a TMBAA or other great insurance policy, it may still be wise to invest in additional types of coverage for your vehicle. For example, many drivers choose to purchase “accident forgiveness” policies, which are designed to cover the costs of accidents that are not your fault. Other drivers choose to purchase “gap” insurance, which is designed to cover the difference between what an accident would cost under their TMBAA or other policy versus what their vehicle is worth.
6. Know how to spot shady insurers before buying a truck insurance policy
Finally, be aware that there are many less-than-reputable insurance providers out there that will offer truck drivers cut-rate deals on policies in order to get their business. These companies sometimes can’t afford to pay out any claims, which means you could wind up holding the bill if you ever have an accident. In addition, always be wary of car insurance brokers who want to sell more than just insurance, such as investment opportunities or credit cards.
Who is required to carry some form of car insurance on their truck?
All drivers who wish to legally operate their vehicle on public roads must maintain at least a minimum amount of liability coverage.
What are some common misconceptions that drivers have about car insurance?
There are many common misconceptions among drivers who do not understand how auto insurance actually works. For example, many believe that their spouse’s insurance will cover them or that their accident forgiveness policy will protect them if they are ever found to be at fault for an accident.
Why would someone choose to buy accident forgiveness after purchasing an auto insurance policy?
Some drivers may wish to invest in accident forgiveness policies because they are more likely to get into an accident than the average driver. If they are not at fault for an accident, then their premiums will remain low. At the same time, if they are ever found to be at fault for an accident, then their rates will not increase to cover the damages they caused.
Who can legally sell me a trucker’s car insurance policy?
Insurance policies are technically required to be sold by licensed professionals who know exactly what you need in the way of coverage. However, there are many car insurance brokers who rely on their sales skills rather than knowledge of the policy itself to make a sale, so always be wary when dealing with anyone who doesn’t appear knowledgeable about the exact type of policy you need.
What is truckers gap insurance?
Drivers can invest in different types of coverage to protect themselves from different types of risk on the road. For example, some drivers purchase gap insurance to protect themselves from the difference between what an accident would cost under their TMBAA or other policy versus what their vehicle is worth.
Is your spouse’s auto insurance primary if you’re both involved in an accident while operating your respective vehicles?
No, and it’s a common misconception among many drivers. In most cases, your own insurance will be primary, regardless of who was at fault for an accident or who owns the vehicle in question.
Considering All Of The Facts
I hope this blog post has been helpful in your quest to find the best trucking insurance. If you have any questions about what we’ve covered, please comment below and let us know! We are happy to help you make an educated decision on which policy is right for your business needs.