Dump Trucks need commercial Auto insurance
Why is proper dump truck insurance important for you?
Imagine that you are driving in traffic on Route 695 in Baltimore, MD. As you come around a turn and the traffic is stopped. You slam on your breaks, but when you have a 70,000 lb truck and full of dirt, stopping on a dime is impossible. You end up rear-ending the 3 vehicles in front of you.
Not only could this claim result in some serious property damage but also a large bodily injury claim.
A dump truck with that much weight could certainly cause life altering injuries.
Do you have the right commercial auto insurance coverage for your dump truck business?
Commercial auto insurance provides liability coverage, uninsured motorist and personal injury protection for your business. In Maryland, you can elect to purchase comprehensive, collision, towing or rental reimbursement. You need to make sure that your business auto insurance program is designed to fit your needs. Your dump truck is an essential part of your business and you need to maintain protection for it. Most dump trucks are not only required to meet the state requirements but also must meet the requirements for DOT filings.
Insurance for dump trucks can be costly because of the two main factors:
- The cost dump trucks are not cheap, even the smaller ones. And because of the high expense to fix or replace them, the comprehensive and collision coverage for the vehicles can be costly. The best way to lower your cost here, is to elect the highest deductibles that you can afford.
- The liability cost for dump trucks is high because the gross vehicle weight of the vehicles is high. And the higher the weight of the vehicle the more likely the vehicle will cause damages and injuries in the event of an accident. And more damages and injuries result in higher payouts for the insurance company. To keep the liability insurance costs as low as possible, make sure that you hire drivers have excellent driving records and a minimum of 5 years of commercial driving experience. The better the characteristics of the drivers, the less likely they are to have claims.
Factors Affecting the insurance coverage for dump trucks:
- Gross Vehicle Weight (GVW)
- Radius of the use of vehicle
- Driver experience and driving record
- Driver age
Common types of dump truck insurance coverages include:
- Liability insurance – This type of insurance is most commonly required by law, and you will need it for your dump truck. Liability insurance is made up of the following coverages:
- Bodily injury – This pays for the injuries to the other party when you) are at fault in a collision with a vehicle on the policy.
- Property damage – This pays for damage to others’ property incurred during a collision caused by a vehicle on the policy.
- Physical damage – This type of coverage will help with costs associated with repairs or replacement of your dump truck if it is damaged. Physical damage is usually broken up into:
- Collision – This covers damages from traffic collision for your vehicle on the policy.
- Comprehensive – This covers damages from most non-collision incidents, such as damage from severe weather or glass breakage to the vehicle on the policy.
- Cargo insurance – This will help cover costs if your cargo is damaged during transportation. This is especially necessary if you are a for-hire driver who hauls clients’ property. Even though you may only be transporting dirt or gravel there is a still a cost associated with it and if your dump truck tipped over that cargo would need to be replaced.
You should also consider pollution liability insurance coverage for in transit. Pollution can come from contaminated soil. In one claim, Unbeknownst to the driver of one of the dump trucks, the rear dump gate of his truck was ajar allowing soil to spill throughout the trip before being pulled over by the police. The soil spillage caused a road closure for several hours. The cleanup costs were paid by the dump truck operator.
Contact Huff Insurance at at 410-647-1111. Or fill out the quote request form on this page for the insurance coverage for your dump truck business.