Trucking, logistics and transport companies have one thing in common no matter what they might be trucking or transporting: All of these companies are going to need insurance – and that’s because all of these companies are exposed to risk in the process of doing their jobs.
Having insurance means that your company is protected – at least financially – in the event of damages, injuries or claims that involve your business.
Lacking insurance means that your company isn’t as protected. It means you aren’t wearing armor with the potential of going into battle – and you aren’t keeping your drivers, your assets or your business safe enough.
Any responsible business owner will agree that they can’t afford to be without insurance.
Blanket Insurance: It’s Not Enough
A good sales pitch often means that people can sign up to insurance without having a real idea of what it covers; this is a common mistake with life, health and home insurance – and unfortunately the same is true for logistics insurance.
Most companies have general insurance policies that they assume will cover them in the event of serious damages: The truth is that the majority of companies aren’t covered for the damages they expect to be.
Blanket insurance won’t cover things like tractor trailer accidents, non-trucking liabilities for injuries or property damage in the event of an accident – and blanket insurance is often too thinly-veiled to cover accidents or claims involving 18-wheelers.
What is 18-Wheeler Insurance?
It’s common for trucking and logistics companies to require several insurance policies running at the same time. This ensures they are covered against special risks like hot shot company accidents or tow truck accidents that might involve your company.
From the name, you might have guessed that 18-wheeler insurance covers you in the event of accidents or claims that involve an 18-wheeler truck:
This can involve trucks that are part of your vehicle fleet (and it’s obviously useful if you own any 18-wheelers within your company).
It can also involve other 18-wheeler trucks that don’t belong to you, but that were involved in accidents that you or your fleet were a part of.
Why 18-Wheeler Insurance is Vital
Even if you don’t own any 18-wheelers as part of your company’s fleet, it doesn’t rule out the possibility of running into an 18-wheeler truck on the road: Simply, this is why you require 18-wheeler insurance anyway: It rounds off the insurance policies that you already have and ensures that you are covered for more.
Sure, you might never use it: But what if you had to?
Insurance protects you against the “what-if” situations that can and might sink your business financially should they ever happen.