Commercial vehicles are meant for different purposes so their risk factors also vary from each other. These expensive moving assets need adequate risk coverage if you are expecting an interrupted business flow. Even in truck insurances, you will find numerous variations because of their operational activities. A towing truck will require a different insurance policy as compared to a dump truck. If you have a complete fleet of dump trucks for commercial use, it is advisable to consult with an insurance agency expert in providing customized truck insurance policies only. The dump truck insurance cost depends on various factors including:-
- Number of total trucks in the flat
- Vehicle information like model and year of manufacturing
- Geographical conditions
- Types of claims and losses coverage
- Radius of the work area
- Accidents
- Speeding tickets
- Business maturity
Now the considerable question is, what kind of coverages do you need against the dump truck insurance cost? Here is a list for your convenience.
List of insurance coverages you need for a dump truck
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Auto liability
This insurance clause is meant for covering bodily injury and property damage liability. Auto liability insurance prevents the fleet owner from various legal obligations.
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Physical damage
Any kind of physical damage loss to your truck will be covered in this policy so that your truck can return back on work timely. You will get comprehensive coverage to replace the entire vehicle in case of substantial damage. For minor damages, repair and replacement of parts are included in the collision coverage.
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Trucker’s general liability
If property damage or bodily injury occurs due to the services provided by your dump truck fleet, the trucker’s general liability insurance can help in covering.
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Rental reimbursement
If your dump truck is damaged and waiting for repair in the garage, it will severely affect the business revenue flow. In order to maintain continuity, a rental reimbursement insurance option is available. The insurance company provides a rental vehicle as a temporary replacement.
Can you reduce dump truck insurance cost?
Yes, it is possible to save money on a dump truck insurance policy if without compromising safety and security. Ask for insurance discounts on your first meeting with an agent. Hire drivers with a good track record. Stabilize the value of your dump trucks with regular maintenance services.
