Commercial Truck Insurance for Minnesota
If you are in a business that uses trucks, it doesn’t matter if it is one or one hundred trucks, it is a good idea to have commercial truck insurance in Minnesota to protect them in case of an accident or incident. It also doesn’t matter if your trucks are small vans or huge semi-trailers – you should have a commercial trucking insurance in MN – it will save your business from financial ruin.
You can find out all you need to know about commercial truck insurance Minnesota companies need by talking to an insurance agent who specializes in truck insurance in MN state drivers can use to protect their vehicles in case of an accident or incident.
What are Commercial Truck Risks?
It is vital to understand the many possible risks of having commercial trucks in your business and how this could affect your company unless you buy trucking insurance MN drivers can use to offset financial losses. There are many dangers associated with driving commercial trucks the hundreds of miles daily that big companies drive or even the five miles down the road that a small delivery truck could encounter. Some of these include:
- Around 130,000 persons are reported hurt every year in an accident involving commercial trucks
- In a commercial truck accident, about 70 percent of the financial loss is reported to be due to property damages, while about 22 percent of these incidents involve injuries to drivers, passengers or people in other vehicles.
What are the Kinds of Commercial Truck Insurance in Minnesota?
When it comes to the kinds of truck insurance MN trucks need, there are several different categories. These include commercial truck insurance for large trucks like semi-tractor trailers, car haulers, auto trailers, flatbed trucks or garbage trucks, as well as smaller ones like dump trucks, tank trucks or box trucks. No matter what kind of truck you have, there is a type of trucking insurance MN drivers can use to offset financial losses after a covered accident or incident.
The list of types of truck insurance MN trucks need includes:
- Liability for commercial trucks
- Coverage for any type of physical damage
- Insurance to cover you in case of an Uninsured/under insured driver
- Insurance for cargo in trucks
No matter what kind of truck your company uses, they all do specialized jobs. Their jobs are one of the characteristics that are involved in choosing the right kind of commercial truck insurance MN business owners can trust will save you from financial ruin. The insurance agent will also take into consideration other factors such as how many people drive the truck, how many average miles your trucks are driven, what you carry in the truck, how much the trucks are worth, etc. Your insurance agent can explain these areas well when you go to buy truck insurance MN trucks need.
What Does Commercial Truck Insurance in Minnesota Cover?
When deciding on trucking insurance you must understand what each type covers. This involves several factors, including the following:
- Liability insurance for commercial trucks covers your business if one of your drivers is involved in an accident or incident that is their fault. This type of coverage pays for things like bodily injury and medical costs, property damage costs, any lawyers or legal fees, or other related costs in a covered incident or accident.
- Coverage for physical damage in an accident or incident pays for things like damage to the truck or other items when involved in an accident, collision coverage, comprehensive coverage, which also covers you if the truck is stolen, vandalized or otherwise damaged.
- Coverage in the case of an uninsured/underinsured driver will pay for things like injury or damage if your driver is not at fault and the other driver didn’t have insurance or didn’t have enough insurance to pay for your damages or injuries.
- Coverage for cargo covers the items your trucks are carrying if they are damaged or stolen.
You can also talk to your agent so that you can modify your commercial truck insurance MN purchase to cover you for things unique to your company’s needs like if an employee must drive their own vehicle in the course of his job, or other such possibilities.
Requirements for Commercial Truck Insurance in Minnesota
Minnesota trucks must have certain mandatory requirements in their coverage for trucking insurance. Some of the mandatory coverage includes primary liability, but even if things like damage to your cargo, etc. are not mandatory, your insurance agent will likely explain how it is worth the cost so your company will not be financially hurt in the case of a covered accident or incident.
Minnesota state law necessitates truck drivers must have a certain minimum amount of primary liability coverage, which is decided based on the kind of items your company carries in their trucks. For instance, the hazardous material would require more insurance than nonhazardous materials. Normally the federal requirements are at least $75 to $100,000 dollars but speak with your local Minnesota commercial truck insurance agent to be sure what your type of truck requirements are for your area.
How Do You Get a Quote to Buy Commercial Truck Insurance in Minnesota?
It’s not hard to get a quote from an agent when your company gets ready to buy trucking insurance for your fleet of trucks. It is a better way to choose independent insurance broker and he can give you all the latest information and details and compare the quotes and find the coverage you need at a cost that you can afford.
All in all, it’s vital to have Commercial Truck Insurance in Minnesota to protect your trucks and your people in the case of an accident or incident in their daily travels for their jobs.