Very few things in this country are more regulated than the commercial transportation industry and as a byproduct, the commercial truck insurance industry—that’s because safety is an extremely touchy issue within our current society and economy.
Think of how much money is funneled into airline security these days in the post 9-11 world. Safety is one of our top priorities when it comes to legislation.
Commercial trucks are responsible for about 9 percent of the 45.000 deaths that are estimated to occur each year as a result of traffic in the U.S.
While that’s not bad in relative terms, considering how heavy the machinery is in the commercial trucking industry, we’ll always try to prevent any accidents with regulating legislation as long as they exist. As a result, truck insurance for commercial vehicles is subject to many laws to ensure it protects the public.
Look at construction trucks as an example.
Building Materials Haulers
Building materials hauler can be a blanket term for construction trucks, and it covers quite a wide variety of vehicles when used in that sense.
Construction trucks can range dramatically in size, form and function. Think of the large oversize flatbeds that carry wood to construction sites. Now consider a dump truck carrying aggregate to a site. Now a cement mixer…you can see that it might be challenging for construction truck insurance to cover all the different capacities of vehicles used at the job site.
A Note About Dump Truck and Big Truck Insurance
Different policies need to exist for dump trucks and oversized trucks—while dump trucks and big trucks carry their own specialized policies, building materials haulers tends to refer to a blanket cargo insurance for construction company fleets or those operating typical construction trucks under their own authority.
It’s best to discuss this policy with your agent—since cargo values can fluctuate dramatically within construction, a more specialized truck insurance policy suited to your exact rig might end up saving you money and providing better coverage.
Other Policies To Combine With Construction Coverage
Comprehensive coverage is always a great policy to hold when considering new commercial policies. It’s the policy that protects your own assets in the event of accident, loss or vandalism. Aggregate haulers might be better suited to your fleet if that’s the cargo you typically haul.
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