3 Insurance Needs for Interstate Truckers
Transporting goods across state lines is regulated by the Federal Motor Carrier Safety Administration (FMCSA). The FMCSA requires truckers to carry certain insurance when driving between different states. To ensure you have the coverage you need, look into an interstate trucking liability program.
Accidents often cause physical damage to the truck that needs to be repaired or replaced. Most finance companies require physical damage insurance. Even if you own the truck outright, the insurance is a good idea to maintain.
Many limits for cargo hover around $100,000 but can change depending on what you haul. The FMCSA doesn’t require it, but damaged goods in your possession due to an accident can be expensive to replace. This insurance helps carry the burden of that cost.
Bobtail insurance may not be needed if you have primary auto liability insurance and are an owner-operator. However, if you lease the truck, bobtail insurance may be required by the lease company. Check the lease agreement for your specific liabilities.
When the trucker is at fault, you need the right interstate trucking liability program to help you sort out the mess. Not having the insurance can be a costly expense in the event of an accident. Liability insurance protects you and your truck while keeping you in compliance with FMCSA.