Dump trucks are high-liability vehicles, and their owners require a personalized, tailored and high-quality commercial auto insurance policy in order to fully protect themselves.
While commercial auto insurance is necessary for most vehicles owned by most businesses, the need for this coverage by dump truck owners is significantly greater. Policies also must be more specific, in general, than those required for other commercial vehicles. Still, at the end of the day, the right insurance for your dump truck depends on your specific needs. Keep a few important ideas in mind when searching for your coverage.
What Do You Need to Consider When Purchasing Dump Truck Insurance?
Most dump trucks need commercial auto insurance simply because of their weights, horsepower and unique features. Even if these vehicles are registered for private use, they still might only be insurable under a commercial auto policy because of the high risk associated with them.
Still, the source of your dump truck’s coverage might be found in a couple of different places:
- If you are employed as an aggregate hauler by a motor carrier, then it is that company’s blanket commercial auto policy that will often provide coverage for the vehicle.
- If you are an independent contractor, and you are not the employee of a trucking company, then you will often be tasked with providing your own insurance for the truck.
- Even if your employer provides commercial auto coverage for the vehicle, that doesn’t mean you might not need additional coverage, and in this case, buying your own plan might prove the best alternative.
- You might need extra coverage if you plan to drive your personally owned dump truck during the hours that you are off the clock. Your employer-provided coverage might not apply in these circumstances.
The most important thing to do in these circumstances is to speak to your commercial auto insurance agent. They will know how best to advise you on insuring this vehicle depending on the ownership stakes involved.
The Dump Truck Coverage You Might Need
Commercial auto coverage for a dump truck will often need to include several tailored benefits, including:
- Liability insurance: If a dump truck accident is your fault, you will have to use your liability claim to compensate other involved parties for their injuries or property damage.
- Physical damage insurance: Your policy will help you cover damage to your own dump truck if an accident or other hazardous event (fires, severe weather, theft, vandalism etc.) damages the vehicle.
- Uninsured/underinsured motorist coverage: There is a chance that another driver might be at-fault for an accident that involves you and your dump truck. However, if they lack the liability insurance that will help cover the losses that they caused you, then your own policy can help you pay, instead.
Additionally, various other forms of coverage such as onboard equipment benefits, pollution liability coverage and inland marine insurance will help you cover both the unique features and the cargo carried aboard these trucks. All in all, customizing this coverage can be easy with the help of your agent.
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