Operating a transportation business can be quite challenging. You may often have to transport large and fragile cargo that could be damaged during transportation. If this happens and you don't have insurance, you could suffer heavy losses. Luckily, commercial truck insurance can protect your business from these losses. It will protect the driver, the cargo, and anyone else involved in the accident. This article discusses three types of commercial truck insurance policies you can purchase.

Liability Coverage

This type of insurance covers damage to people or property and can protect your company from claims made by the other party in case of an accident. Some types of liability coverage include general and primary coverage. The general coverage provides third-party protection to the trucks and employees of a transportation company. If a truck causes a crash, this policy will cover the cost of necessary repairs.

Primary liability protection covers the injuries and damages resulting from a crash. It can help your business avoid lawsuits because it will cover the victims' medical costs and other necessary expenses. This type of coverage can be a great option if you want to protect your employees and equipment. The law requires all trucking companies to have this protection.

Physical Damage Coverage

This policy will help you if your truck damages your property. It also offers protection against fires, theft, and vandalism. Since your truck and property are a big investment that you may want to last a long time, keeping your physical damage policy up to date is important. This way, you will avoid paying for the same damages twice and rest easy knowing your assets will be replaced if there's an accident.

Additionally, physical damage coverage can help you if your truck damages someone else's property. It will cover the cost difference between the truck's fair market value and what it would cost to repair or replace that property. An insurance agent can help you select an affordable physical damage policy that works with the other types of commercial truck insurance your company has purchased.

Cargo Coverage

When an accident occurs, it's not only the truck that gets damaged. The goods it's transporting can also get destroyed. If most of those goods are sentimental and expensive items and aren't insured, your company could lose a lot of money. Fortunately, you can avoid this by taking out cargo coverage. This policy covers the goods being transported by the truck and will replace them if they're damaged. Working with an agent will help you find the right type of cargo coverage depending on the goods you're transporting.

If your company owns commercial trucks, you need to purchase commercial truck insurance. It will protect your business and employees in case of an accident and give you peace of mind.