Trucking Insurance - Required Liability Coverage
Federal and State governments mandate that trucking companies have coverage in their trucking insurance policy for public liability for bodily injury, property damage and environmental restoration. The amount of public liability insurance required will vary from company to company depending on the type of operation.
The GVW of the truck is part of what determines the limit of public liability insurance that is required by the FMCSA. Trucks that have a GVW of less than 10,000 pounds must carry $300,000 of coverage, and if they are over 10,000 pounds then they need $750,000. If their trucks transport hazardous materials the requirements are raised to $1,000,000.
There is also a requirement for the cargo being transported to be insured for at least $5,000. However, most companies having good being transported require that the cargo is covered with $100,000 of cargo insurance coverage.
Even if the transporting company does not carry their merchandise over state borders, their home state will have specific insurance laws that they will need to follow. Companies should contact an insurance agent who has experience with trucking insurance to make sure that they have the appropriate coverage.
The insurance provider, not the agent, will file the necessary forms with the FMCSA after a policy has been purchased. The truck must be being leased or purchased to obtain authority from the FMCSA to make an insurance filing.
Companies should be sure that they are meeting the requirements of the FMCSA, their home state, and the companies they are transporting for. This will help them to not get any fines or tickets or be at unnecessary financial risk.
If there are any concerns or questions about the type and amount of coverage that is needed, contact an insurance broker. Brokers have experience with trucking insurance and since they work with dozens of insurance providers will also be able to find the best purchase price for the insurance policy needed. - 23211
The GVW of the truck is part of what determines the limit of public liability insurance that is required by the FMCSA. Trucks that have a GVW of less than 10,000 pounds must carry $300,000 of coverage, and if they are over 10,000 pounds then they need $750,000. If their trucks transport hazardous materials the requirements are raised to $1,000,000.
There is also a requirement for the cargo being transported to be insured for at least $5,000. However, most companies having good being transported require that the cargo is covered with $100,000 of cargo insurance coverage.
Even if the transporting company does not carry their merchandise over state borders, their home state will have specific insurance laws that they will need to follow. Companies should contact an insurance agent who has experience with trucking insurance to make sure that they have the appropriate coverage.
The insurance provider, not the agent, will file the necessary forms with the FMCSA after a policy has been purchased. The truck must be being leased or purchased to obtain authority from the FMCSA to make an insurance filing.
Companies should be sure that they are meeting the requirements of the FMCSA, their home state, and the companies they are transporting for. This will help them to not get any fines or tickets or be at unnecessary financial risk.
If there are any concerns or questions about the type and amount of coverage that is needed, contact an insurance broker. Brokers have experience with trucking insurance and since they work with dozens of insurance providers will also be able to find the best purchase price for the insurance policy needed. - 23211
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Steve Turner will be able to give you any information that have in regards to Trucking Insurance liability. Trucking Insurance Liability Steve Turner will help you to comprehend the requirements you have to follow to acquire and be secure using Trucking Insurance coverage. Trucking Insurance Requirements
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