Everything You Need To Know About Truck Insurance Coverages
These days, if you are applying for a truck insurance coverage, there are a lot of options available for you to choose from and this is because there are now a lot of insurance policies crafted for truck owners. But what are the types of truck insurance coverage available for you?
One of the most popular types of truck insurance these days most especially for those truck owners and operators of trucking companies is the insurance for physical damage. If your truck is damaged most especially in the body or is lost, this type of insurance coverage applies for you. The premium that you will be paying for this type of insurance will vary depending on the value of your vehicle but most of the time it is a few percentages from the actual market value. So if your truck is high on market value, you will also be paying a high premium as well.
Aside from the insurance for physical damage, there is also the type of insurance which includes in its coverage primary auto liability which is in compliance with the law. Whenever your truck is involved in an accident and a third party is involved, this type of truck insurance coverage will then apply. You will most likely be entitled to pay compensation for damages if your truck is involved in a personal injury case and a third party is compromised. You can then use this type of insurance to answer for your liabilities in case third parties are injured and you will be required to offer compensation for damages.
If you are a keeper of a certain vehicle and not the owner or operator thereof, there are also truck insurance policies for you and these include the garage keepers insurance. This type of insurance covers for the loss or any damage incurred in the truck while it is under your custody such as in parking areas and garage premises. For instance, if the truck is stolen, damaged in a garage fire, subject to vandalism or damaged in any way, you may also be held liable for such damage or loss so long as the truck is deposited on your custody for safekeeping. Therefore, if you failed to comply with the safekeeping obligation and the truck is lost or damaged under your care, custody and control, the garage keepers insurance applies to such case.
These are just some of the common truck insurance coverage that is available for you to choose from so if you want to secure an insurance policy, you have to make sure that you determine the type of car insurance that you need. This is important because that is one way for you to make sure that you are getting the appropriate insurance coverage that is suitable for your specific needs. To know more about the many other types of truck-related insurance policies available for you to choose from, discover more in this page now!