Trucking Insurance in Virginia

Trucking insurance is essential for any owner-operator or small business offering trucking services in Virginia and beyond. It comprises a variety of policies which differ based on:

• The types of trucks
• The driver’s experience
• Goods in transit
• Risks associated with the venture

If shopping for a suitable insurance package for your truck business, understanding the different options available is critical.

Parr Insurance Services can provide an extensive insurance package for trucking businesses. Here’s a detailed look.

PRIMARY AUTO LIABILITY

Federal law requires trucking companies to take out a primary auto liability insurance coverage. It protects truck owners against loss when a third party is injured during an accident. Primary auto liability has two components:

• Property damage liability insurance: This policy covers expenses associated with repairing a third party’s damaged property, including their vehicle and/or property, up to a set limit
• Bodily injury liability insurance: It compensates a third party for injury caused by a truck driver. It covers the victim’s expenses associated with the claim, up to the policy limit.

GENERAL LIABILITY

This cover caters to common business risks like customer property damage, customer injury, copyright infringement, and advertisement losses.

This insurance comprises several other policies, which can be expensive for small trucking businesses if they subscribed to each.

It’s best to bundle commercial property insurance in a business owner’s policy (BOP) to save on cost. However, only trucking businesses that have met the following requirements are eligible for a BOP:

• Have a small property
• Operate in a low-risk property
• Have fewer than 100 employees
• Earn less than $1 million in a year

BOBTAIL INSURANCE

Truck contractors operating independently need insurance beyond what a motor carrier offers. When carrying goods for dispatch, business insurance covers you, but bobtail insurance comes in handy when working off the clock.

For example, if you dropped off a load at Richmond and need to bobtail the truck to Ashland before picking up the next load for another company, the insurance protects you during that portion of the trip. This insurance also protects you when driving home after dropping off a package.

NON-TRUCKING LIABILITY

It protects you from losses when using the truck for personal reasons. Note that the definition of personal reasons varies by state and federal court decisions.

For example, some states may decide that losses incurred while running errands before driving home after dropping a package won’t be covered by non-trucking liability insurance.

WHERE TO GET TRUCKING INSURANCE POLICIES

Are you shopping for trucking insurance policies? Visit Parr Insurance Services today. We offer an extensive range of trucking insurance policies, and our staff will help you choose the best for your Virginia business.