Box Truck Insurance
Box Truck Insurance
Many businesses and independent truckers use a box truck to carry out their business operations. Moving companies, retail shipping companies, and couriers are examples of the kinds of businesses that use a box truck. Regardless of why your company uses box trucks, you need to be sure you have them fully protected with commercial auto insurance. Whether you are a private truck carrier or an independent trucker for hire, there are a number of important types of business auto insurance you should carry for your truck:
- Liability Insurance – Bodily injury coverage pays for the physical harm that comes to one or more people as a result of the auto accident. If your box truck causes and auto accident and people receive injuries in that accident, the bodily injury portion of your liability coverage will pay the medical bills and related expenses. Liability insurance comes with two important pieces:
- Bodily Injury – Bodily injury coverage pays for the expenses that arise when people get hurt in an auto accident. If your van is at fault for the accident and one or more people must be taken to the hospital for example, the bodily injury portion of your liability coverage will pay for the transport and hospitalization costs. Bodily injury insurance pays for standard medical care such as emergency room visits and prescription medications. It can also pay for the cost of a funeral if a person dies as a result of the accident. Bodily injury also pays for pain and suffering, lost wages due to time off work for recovery, and more.
- Property Damage – The property damage portion of your liability insurance policy pays for the repairs or replacement of property that was damaged in the auto accident. If your box truck totals another vehicle for example, the property damage section of your commercial insurance policy will pay for that vehicle’s replacement. Liability insurance is normally structured into a split or combined limit policy. Split limit policies set an upper limit on how much money will be paid for bodily injuries and property damages in an auto accident. For example, your insurance policy may be setup as a $25,000/$50,000/$30,000 split claim policy. This number represents the maximum amount of benefits the policy pays per individual for bodily injuries; the maximum amount of benefits for all bodily injuries total; and the maximum amount of benefits that will be paid for property damages. A single claim limit policy of $50,000 however, allows you to spend as much or as little of that total as you need on either bodily injuries or property damages.