Trucking businesses are vital in this day and age for transporting goods within the country. However, the risks and costs have increased over time, leading to difficulty financing situations where a trucking vehicle is involved in an accident. This has made insuring more frustrating, as individual policies can cover too little, other policies may cover more than you need and many insurance companies don’t want to be involved in such costly risks. Thankfully, the increase of wholesale trucking insurance programs is widely beneficial to the trucking industry.
Why Not Use General Insurance?
While general liability is helpful for any business, it only covers so much. The risks involved in trucking businesses are quite specialized, and many basic insurance policies will not cover everything needed. For example, general liability may cover the cost of someone else’s vehicle involved, but not the damaged trailer and cargo of your vehicle. This can be too costly for general insurance policies.
Insurance Programs for Trucking Businesses
However, some insurance companies specialize in the trucking industry and put together wholesale trucking insurance programs. This means they work with a variety of wholesalers to build a full portfolio of insurance policies that fit the specific needs of a trucking business. Therefore, the program can cover everything you need without you paying for unnecessary services.