Primary Liability
This is usually the most costly portion of any trucking company's insurance package. Protecting you from damage or injuries to other people as a result of truck accidents. This coverage is also mandated by the State and Federal agencies and a form of proof is required to be sent to them.
Coverage is generally rated, and many time supplied to you, on a scheduled vehicle basis. This means that if the vehicle is not on the schedule then there is no coverage given. With only a few vehicles this is not normally a problem. The problem becomes more significant when there is a large fleet and/or many vehicle changes during the policy year. Care must be exercised and excellent communications established between your agent and yourself.
Policy limits, generally, for operations with trucks over 26,001 gross vehicle weight have a required minimum limit of $500,000 CSL. This limit is set by the TXDOT on intrastate travel. For operations that travel interstate, the Federal Motor Carrier requires a minimum limit of $750,000 CSL.
Physical Damage
Physical Damage Insurance is coverage for your truck and trailer. This coverage is for repair or replacement for damage resulting from things such as collision, fire, theft, hail, windstorm, earthquake, flood, mischief, or vandalism to your owned vehicles. Pricing is based on the value of your equipment and usually pays a percentage of that value. This coverage may be required by the lien holder of your vehicle.
Motor Truck Cargo
Motor Truck Cargo insurance protects the transporter for his responsibility in the event of damaged or lost freight. The policy is purchased with a maximum load limit per vehicle. Coverage limits can range from $10,000 to $100,000 with excess policies available upon request. Pricing for this insurance is mainly dependant on the type of cargo being hauled.
Non-Trucking Liability
Non-Trucking Liability (Bobtail Coverage) provides limited liability insurance for owner-operators who are permanently leased to a State or Federally regulated carrier. It provides limited liability protection when the owner-operator is not on dispatch, nor pulling a loaded trailer. For example, this coverage would apply when the owner-operator gets their truck washed or brings their trucks into a shop for repairs. Once the owner-operator is under dispatch, they are covered under the Primary Liability insurance policy of the company that they are leased to.
Commercial General Liability (CGL)
Policy is extremely broad in nature. It insures the bodily injury liability and property damage liability exposures of a variety of commercial businesses, enterprises and ventures. The broad nature of these forms eliminates having to select and group individual or specific hazards, with the resulting potential gaps in coverage.
These policies can be offered on either an occurrence or a claims-made basis, as a monoline policy or combined with one or more other lines of insurance to form a commercial package policy. The basic exposures of the named insured covered by the CGL coverage forms include:
• Ownership, maintenance or use of the premises
• Operations conducted or performed on or off the premises
• Written contracts and agreements
• Products manufactured, sold or distributed
• Completed operations
• Personal injury
• Advertising injury
• Medical payments on the premises or at jobsites, without regard to fault
Each of these coverages is subject to certain policy definitions, exclusions and limitations.
Garage Liability
Garage liability covers the insured for incidents involving customers or other third parties either on the premises or away from the premises. It also covers any damage or inury to others while test-driving vehicles that are being repaired.
Damage to the auto of the customer, whether it is in the shop or out for a test drive, is covered by the garage keepers coverage.
If an accident occurs after the vehicle is repaired and returned to the customer and the cause is the faulty work or parts, then the Garage Liability may pay for that as well.
Garage Keepers
Provides coverage to owners of storage lots, garages, parking lots, etc. for liability with respect to damage to automobiles left in their care, custody and control. Coverage may be contingent upon establishing liability on the part of the insured.
Personal Auto Insurance
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance provides property, liability and medical coverage:
• Property damage coverage pays for damage to or theft of your car.
• Liability coverage pays for your legal responsibility to others for bodily injury or property
damage.
• Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages
and funeral expenses.
Auto insurance is required coverage by the State of Texas, and most auto policies are based on a six-month term. The minimum limit of liability required in Texas is 20/50/25.
Homeowners Insurance
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions.
A standard homeowners insurance policy includes four essential types of coverage. They include:
1. Coverage for the structure of your home.
2. Coverage for your personal belongings.
3. Liability protection.
4. Additional living expenses in the event you are temporarily unable to live in your home because
of a fire or other insured disaster.
Homeowners insurance is written on an annual term. We recommend that you review your homeowners policy every year to make sure you have adequate insurance coverage.