Different types of commercial transportation insurance

Commercial transportation insurance is an absolutely huge field. It actually includes many different types of businesses, industry classifications, and even types of vehicles than most people initially thought. Here’s a brief overview of some of the main different forms of commercial auto insurance and how it will affect you.

Why is it so important? Remember that different vehicles carry different risks, which translates into different insurance requirements and also different costs. The same goes for different industries and classifications.

The first way to consider commercial transportation is through the different forms of coverage that may apply. This includes standard auto insurance and general liability coverage.

However, other types of commercial transportation insurance include non-cargo liability, property or physical damage insurance, workers’ compensation, pollution coverage, inland waterway insurance, equipment failure, property, trailer exchange, and so on.

The next thing to keep in mind is that different types of trucks or vehicles and different industries can also have very specific types of commercial transportation policies for them. Here, consider the varying needs of perhaps an 18-wheel refrigerated truck versus a waste hauler, or a lumber hauler versus a tow truck, a household moving truck versus a construction or contractor truck, or pick-up truck.

Taxi drivers, as well as charter buses and vans, even ice cream vans and food trucks, need commercial auto insurance. A few other common vehicle and business types to consider include non-emergency medical transport, limousines, dump trucks, catering trucks, flatbed trucks, hearses, pump trucks, cement trucks, garage trucks and beyond. all these different vehicles and industries have different commercial transportation risks, and therefore different policies and forms of coverage.

Still, that’s just the beginning. Even if you have regular cars for work, maybe driving around or delivering customers, you need a commercial policy for those vehicles.

In addition, all forms of commercial transportation and vehicles must be protected by appropriate insurance. That includes, for example, trains with rail liability coverage, as well as ships and aircraft, and all types of water and aircraft.

Of course, if you think you and your business need commercial transportation insurance, or that you could use a better policy or a better price, talk to a professional who has experience in your area. Policies vary from state to state, so work with an insurance broker or consultant who knows your industry and your area.