How does one buy dump truck insurance? Is it called dump truck car insurance or dump truck auto insurance or just plain old dump truck insurance? What are the requirements for carrying insurance on dump trucks?
Dump trucks are heavy commercial vehicles that are subject to state regulation. When it comes to insurance for dump trucks, this regulation takes the form of mandatory primary liability insurance. Liability covers property damage and bodily injuries that may arise from an accident involving the dump truck.
While such insurance is a key to the safe operation of any business operating a dump truck, there are additional insurance scenarios and options that should be considered. Read on to learn more and then enter your zip above to start comparing quotes for car insurance on all types of vehicles!
Dump Truck Insurance Helps Protect Businesses
If a dump truck, or group of dump trucks, is owned by a trucking company, then full insurance coverage is a wise investment. However, if an individual dump truck is leased to a separate trucking company, then the company that is leasing the dump truck may provide liability insurance while it is operating on the job site. The owner of the dump truck, however, will still be responsible for the physical damage insurance that covers damage to the dump truck itself. It may also still be responsible for liability insurance while traveling from the job site back to its garage.
In some states, trucking companies are required to produce proof of financial responsibility in addition to heavy commercial vehicle insurance. Many insurance providers will facilitate the process of submitting these state forms and will also aid businesses in filing the necessary federal forms.
Physical Damage Insurance for Dump Trucks
Several elements contribute to the full definition of physical damage coverage. Collision insurance, comprehensive insurance, fire insurance, and theft insurance all fall under the auspices of physical damage insurance.
Collision insurance covers damages that affect the dump truck and may be caused by scenarios such as collisions (hence the name) and rollovers. Comprehensive insurance covers damages caused by fire, theft, vandalism, animals, and foreign objects on the road. A specialized form of fire and theft insurance comes with combined additional coverage (CAC), covering not only fire and theft, but a host of other natural phenomena such as lightning, flooding, earthquakes, and windstorms. CAC can also be invoked if a towing system on which the dump truck is being transported gets stuck or damaged.
Cargo Insurance and Fleet Insurance for Dump Trucks
Insuring the cargo moved by dump trucks is not mandated by law, but it is a practical necessity for business owners. The type of cargo being transported, and where it is being hauled, will affect the premiums. The more expensive or dangerous the cargo, the higher the rates will be, and the greater the need for such protections. If a business owner is in possession of several dump trucks, he may be eligible for fleet insurance. Insuring the dump trucks as a group, instead of individually, will likely have cost saving benefits.
Clean Driving and Safety Records Are Crucial
Just as in the personal auto insurance realms, a clean driving record will go a long way toward lower premiums. The record of each one of the dump truck’s listed drivers will be considered when calculating the overall premiums. The age and number of years each driver has been employed with the company will also be considered. It may also be prudent to employ all safety mechanisms that can lead to a reduction in annual premiums. Not only will these features make the dump trucks less of a threat on the open road, but they will make the trucks less of a burden on the wallet with each insurance payment.
Compare Dump Truck Insurance Quotes Online
Using an on-line car insurance rate quote comparison tool to find the best policy for your trucking business is sure to yield a wide range of results that will quickly justify all the time you spend answering the questions that insurance companies must ask in order to produce accurate insurance quotes for dump trucks. By answering the questions as fully as possible and not leaving out anything—especially all the safety mechanisms that will qualify you for discounts—you will be on your way to finding the best insurance rates for your dump trucks. Compare dump truck insurance quotes today!
