Posted on May 17, 2014
The transportation industry covers a broad range of businesses with unique commercial insurance needs. Truck owner-operators and fleets, school and private bus lines, limousines, couriers and ambulances all encompass the transportation service industry that serves customers and businesses all over the United States. When it comes to insuring each of these facets of transportation services, most business owners look to the expertise of insurance brokers that can assist in determining the type and amount of insurance that will provide the most protection to these vital companies.
The following insurance options form a foundation for transportation insurance needs and should be part of every insurance protection program.
The trucking transportation industry spans from individual owner-operators to large private fleets for hire. Truckers need commercial auto liability to cover any accidents on the road. Commercial truck insurance will pay for property damage, bodily injury and medical payments. It also includes comprehensive and collision coverages along with cargo insurance to protect a trucker's load in case of spills, spoilage or damage. General liability insurance is also available for protecting trucking companies from claims and lawsuits by customers or other third parties in the event of an injury or damage to other's property. Certain truck companies need umbrella liability to provide added coverage over and above the standard general liability. This excess liability can be anywhere from $1 million to $8 million.
While trucking transportation is primarily concerned with moving freight loads across the country, public transportation moves people. Public transportation insurance covers school buses, charter buses, limousine services, social services and day care vans. Public transportation services require commercial auto liability with higher liability limits in the case of accidents that hurt multiple people. This coverage is in force to protect passengers and drivers when injured. They also utilize general liability insurance in case of claims or lawsuits for damage to other people's property or injuries.
Commercial transportation companies also utilize comprehensive insurance programs to protect their drivers, riders and property. Commercial transportation companies encompass emergency service vehicles such as ambulances and hospital vans, driving schools, retail drivers, health care and contractors. Commercial auto fleet insurance with liability and physical damage coverage gives these companies the needed coverage to pay for injuries and property damage caused by the operation of the vehicle. Garage keepers coverage is often needed as well to protect customer cars parked or used on company premises.