In addition to regular auto insurance, companies engaged in trucking and transport need to carry general liability policies that can address many different types of claims. Policies need to offer adequate protection against potentially significant loss.
General Liability Claims
Transportation general liability insurance will address claims related to property damage or personal injury. It may include scenarios in which an individual receiving transport suffers some form of damages. In addition, it can apply to claims related to a breach of contract. Expenses may include direct compensation for a third party’s’ damages, settlement agreements, or defense and litigation costs.
A company may need to maintain certain minimum coverage levels as required by law or the terms of a business financing agreement. However, it’s necessary for companies to evaluate whether policy limits will fully cover the scope of risk involved in their operations.
When a company is reviewing its coverage, it’s important to understand what types of scenarios are excluded as well as specific reasons that a carrier may deny coverage. It may be necessary to secure additional policy lines such as truck pollution coverage.
Working with a carrier who is experienced in serving clients in the field of transportation can help ensure that coverage elections will be adequate. In addition, they will be able to offer well-informed guidance as well as competitive rates.