Over the years, the face of the trucking industry has changed rapidly. More and more, companies are hiring contractors to help their employee drivers transport loads. In doing so, many companies shift risks to these for-hire drivers and may even lower their trucking insurance cost. If you are an independent contractor in North Carolina who owns his or her trucking company, then you need general liability insurance.
What is General Liability Insurance?
General liability insurance is similar to the liability insurance you have on your car. It covers you if you are liable for personal injury to another person. It also covers you if you damaged another person’s property, even property belonging to the companies you deliver to on a regular basis.
Extra Protection Against Risks
General liability insurance shouldn’t be confused with commercial trucking insurance. Commercial trucking insurance is required by law in order to operate your truck on highways legally. Although there is a component of your commercial trucking insurance that covers liability, additional general liability insurance goes beyond the limits of standard trucking insurance.
With general liability insurance, your business has extra protection against risks, even those risks that may happen outside of your truck. Additionally, if you have more than one truck, you may find that your general liability insurance covers your other trucks too (depending on policy details).
What Does General Liability Insurance Cover?
Although insurance losses covered by insurance providers may vary and each incident is covered based on the terms of the policy, there are some typical losses that are common to every policy.
The following are a few examples in which your insurance provider may help you cover the cost under your general liability trucking insurance.
- You damage a load that you’re delivering.
- Your load is stolen from your trailer.
- You are responsible for a fire that damages property.
If any of these events happen, you may be sued and required to pay a legal settlement. Without general liability insurance, you would have to pay the legal settlement out of pocket or use the money that’s earmarked for your business. When you partner with an insurance provider, it can help you cover the costs.
To protect your trucking business, whether you have one truck or one hundred trucks, you need general liability insurance. General liability insurance helps you safeguard your personal and business income if you experience a loss.
Is your vehicle covered? Call Amistad Insurance Services at (919) 926-7166 for more information on Raleigh general liability insurance.