Question
I am having a little difficulty understanding the all types of insurance(and their general costs) required if you have your own authority.
1) Physical damage--covers the truck against damage --required by loan company or lease company. I would assume it is not required if you own the truck out right.
2) LIABILITY-- a) primary covers human or property damage for a third party if you are liable. b) Non-trucking liabilty--you are at a warehouse, you unhook to go to wal-mart to get supplies, you run someone over. That's what this type is for? Is it required.
3)CARGO--of course covers your cargo, required if you have your own authority.
4) What else?
Answer
Physical damage would be advantageous to have as it is extremely costly to repair a truck.
Many companies have a $1300 deductible to cut the costs down on the insurance.
Even on my own car, I have a $400 deductible because about the only thing that costs under that is the glass.
If you plan on owning your own trailer, you'd best have all the insurance you can get.
But of course, if you're independently wealthy, then by all means, do without.
You'll soon find out that doing business as a trucker will be truly a hard life.
Insult me! I know you can do it.
Answer
Ya' know, Brown Material, you're either more ignorant than a box of rocks, or just pulling people's chains. BOL
Answer
Now that I've found it again, don't forget about general liability. Most companies want a million dollars worth of that.
prickly pear
What we do in life, echoes in eternity. (Gladiator)