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What kind of truck insurance do I need as an auto hauler?

If you make a living transporting cars, you know you face many risks. you (or your driver) could have an accident and injure other drivers. the cars you are transporting could be damaged. the car carrier itself could be destroyed. you could destroy private property in an accident. So yes, car transport is not for the faint of heart. however, that is why they invented auto transport insurance. There are several types of insurance you’ll need to transport cars, and we’ll explain each of these possible coverages.

Who needs auto transport insurance?

many different businesses need auto transport insurance. could you be…

Reading: What kind of insurance do i need to haul cars

  • a car dealership that has a car carrier to transport vehicles
  • a company with contracts with several car dealers
  • an auto repair shop
  • a company that transports cars for clients
  • What coverage do I need to transport cars?

    automobile liability insurance:

    Liability insurance will help you cover the expenses you are legally obligated to pay if you are involved in an accident or damage someone’s property.

    The two main components of auto liability insurance are bodily injury liability and property damage liability.

    • bodily injury liability can help cover the costs of the other driver’s medical bills and lost wages if you injure someone in a car accident. It can even help you cover legal costs if they choose to sue.
    • Property Damage Liability can help cover the costs of repairing or replacing the other driver’s vehicle if they are in an accident. it may also cover you if you damage property other than a vehicle, such as fences and mailboxes.
    • physical damage:

      Physical damage insurance will help get your transportation vehicle back on the road as soon as possible if it is damaged and needs to be repaired or replaced.

      • Collision coverage may cover the costs of repairing or replacing your truck if it is in an accident or collides with something else, like a telephone pole.
      • Comprehensive coverage can protect you if your truck is damaged by something other than an accident, like fire, vandals, or falling objects (like trees). it can also cover theft.
      • cargo insurance:

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        Cargo insurance protects the cargo you carry, which to you means cars. covers losses such as fire, theft and collision. you are responsible for your load and your client depends on you.

        Pro tip: Make sure you have the right cargo insurance to cover the vehicles you’re transporting. it’s important that you have enough coverage to truly protect your business.

        If you have contracts, they will likely specify an amount or limit of cargo coverage you must have. it is very important that you inform your agent of any contractual requirements prior to linking (terminating) coverage.

        uninsured or underinsured driver:

        What happens if another driver hits your transport vehicle and causes an accident? they are found to be at fault, so their insurance must pay their medical bills.

        there is only one problem:

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        The driver who hit you does not have insurance.

        That’s what uninsured motorist coverage (um) is for. will protect you if an accident is caused by an uninsured driver. There is a second coverage, underinsured motorist coverage (uim), which will protect you if the driver who hit you doesn’t have enough insurance to cover the cost of the accident.

        then when you get auto transport insurance, you may want to consider adding um/uim insurance.

        So, that’s the problem with the coverages you need to transport automobiles. Now keep in mind that the above are just a few of the most common coverages we see with car carriers. your business is unique, so you need a unique insurance plan that is tailored to the specific risks you face. You may need additional coverages to fill out your auto transport insurance plan and close any gaps in your plan.

        and we’d be happy to help you create that insurance plan. Our trucking insurance experts are professionals at making insurance easy, and since we specialize in truck insurance, we understand the risks you face and the coverages you need. To get truck insurance quotes, just fill out our online form or give us a call today.

        See also: Tips for Saving With Teen Driver Discounts | Bankrate

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