Commercial trucks are the backbone of a healthy economy. In the U.S. more than 3.5 million truck drivers deliver essential goods including lifesaving products to people across the country. As one of the most common jobs in the U.S., employment in this sector is slated to grow at a rate of 5 percent until 2024.
Get help with your legal questions.
High-risk occupation
On average, truckers spend 240 nights or more away from their homes each year. Annually, about 125,000 miles are covered and in their lifetime, truckers cover 3 million miles! About 70 percent of the country's freight is transported by these truckers. Not surprisingly, this is one of the most demanding and high-risk jobs.
While speed is a top priority to truckers to meet stringent deadlines of delivery, safety can often get compromised. A large truck needs space equalling that of a football field to slow down safely!
Why do truckers need insurance?
Brake problems, fatigue, tire issues, and harsh weather conditions are just some of the reasons why trucks are at high risk of breakdowns, crashes or accidents. As per the FMCSA (Federal Motor Carrier Safety Administration), 4,440 large trucks were involved in crashes in 2016. Trucking accidents are also estimated to cause $60,000 on an average in damages.
While these accidents or crashes are unfortunate, they can also result in serious injuries that are difficult to predict. Neck, spinal injuries, broken bones, organ damage, burns or fractures are just some of the physical liabilities. Many of such injuries involve extensive rehabilitation and treatment period, the costs of which can be prohibitive. Combined with the loss of income that comes from being away from the job, the added expenses can take a huge mental and physical toll.
Given the extent and gravity of the damages incurred, the right type of truckers’ insurance is the optimal way to ensure protection against a host of liabilities.
Maximum protection from a host of liabilities
Competent truckers' insurance providers cover wide-ranging aspects such as:
-
Primary Liability
-
Physical damage
-
Medical payments
-
Motor Truck Cargo
-
Non-truckers Liability
-
General liability
-
Workers Compensation
-
Trailer Interchange
-
Umbrella cover
-
Bonding
Primary liability is mandatory insurance coverage that pays for property damage and physical injuries incurred. Bobtail insurance provides protection for those in-between times when truckers are driving without loads. The trailer interchange insurance covers the damage to the trailer when it not attached to its owner's truck. Medical payments cover is additional protection when there are other family members traveling in the truck that is involved in a crash.
Thumann Agency is the industry leader when it comes to wide-ranging, customized truckers insurance products.