Without question the most important insurance policy a trucker can have, and the only one required by law. So it should make sense that a great deal of attention is paid to this coverage. Before purchasing this coverage you need to be sure that the agent you are dealing with knows your business, and is negotiating with insurance companies that have the coverages and resources that you need to operate legally.
Questions you should be asking
Q: What is the carriers rating?
A: Not all carriers are the same. Ideally you should only be dealing with carriers rated A or better. Having an insurance carrier that has the financial stability to pay your catastrophic claim is very important otherwise you can be stuck with legal bills and judgements.
Q: Will this carrier issue MC filings and MCS90 endorsements?
A: Imagine writing a check for thousands of dollars for a new insurance policy only to find out they either do not offer filings, you don't qualify for them or there is a fee. Know up front to avoid having to find an alternate carrier and having to wait for a refund from the previous carrier.
Q: Am I covered out of state?
A: Technically your insurance policy should cover a claim anywhere within the U.S., however, radius is a very important factor in pricing your insurance. Make sure the agent you are negotiating with quotes the correct radius and that there are no radius restrictions that could jeopardize your coverage. Imagine having an accident 1000 miles from home and finding out your insurance rate will now double because your agent put you down at 50 miles to keep the price low and hoped you wouldn't know.
These are just a handful of questions a savvy trucker/businessman should be asking prospective insurance agents, or even their current agent. At Transportation Resources we know what to ask you during our intake process to make sure we match you up with the most suitable insurance carrier.
• All carriers rated A or better unless noted otherwise
• Unlimited radius available
• MC Filings issued and maintained timely
• MCS90 endorsements issued where required