What Type of Trucking Insurance Do You Need?

Whether you've been in the trucking industry for years or are entering it for the first time, insurance is something you've probably thought about quite a bit. But understanding the different types of trucking is insurance is difficult, even for the most seasoned trucker. Once you understand the different kinds of insurance that truckers usually buy, consider, or are concerned about can help you better customize your insurance package.

1. Primary Liability Insurance

Primary liability insurance is the type of insurance needed for a driver in the United States to stay legal while Mego action figures the road. Drivers with these types of policies have coverage for others' injuries and damage to others' vehicles as a result of an accident. For truck drivers to drive legally, they must have $750,000 worth of coverage. This means that their insurance will cover up to $750,000 of damage or injury to the other party in an accident. 1915 Cracker Jack baseball cards the accident is determined to be your fault, and more than this amount of damage is caused, then the injured party's lawyers may seek further compensation from your personal wages and savings. For this reason, some truckers choose to purchase more than the minimum primary liability insurance. Truckers can also purchase greater degrees of liability insurance that will pay for the damages that occur to a trucker's own rig, in addition to the truckers' injuries in the event of an accident.

2. General Liability Insurance

Accidents don't just happen when truckers are on the highway. Truckers spend a great deal of time parked in truck stop lots, waiting in rest stops, or loading and unloading. While truckers are either in or away from their rigs, accidents can occur involving another vehicle and your parked vehicle. In addition, thefts and vandalism are also possible. Truckers who want insurance to cover damages in these conditions should consider general liability insurance, which covers the vehicle in conditions other than on-the-road driving. Different insurance companies offer different types of general liability insurance that cover truckers during different conditions. Truckers who are interested in this type of insurance should consult with different insurance companies to view their options.

3. Motor Truck Cargo Insurance

This type of insurance does not cover your vehicle, but instead the cargo that you're carrying. This offers both the transportation company and the client the assurance that the items will get to where they need to be, or their loss will be compensated. If you are an owner operator, your company may require that you carry this type of insurance, to a specific amount.

4. Non-Trucking Liability Insurance

Also called bobtail or deadhead insurance, this type of insurance covers your vehicle when you're not working. Typically, the company that you're working for covers your vehicle when you're on the job, but if the truck is parked in your driveway, getting it repaired, or otherwise not working. You might want to pick up this insurance to protect your investment in all circumstances.

5. Legal Requirements

Like any other job, truckers are not only tasked with meeting the requirements of their employers, but also they are required to meet legal requirements in order to stay on the road. Because driving can be a hazardous activity that Spider-Man action figure death, injury, and damage, motorists must meet speed limits, safety equipment standards, and registration requirements. Like these legal conditions, insurance is mandated by all 50 states. This requirement is not devised simply to charge truckers more money. Instead, it is a way of protecting drivers who are involved in an accident that is not their fault. In addition, it also protects the driver of the vehicle that caused the accident by protecting personal property and funds from going to pay for accident damages.

But how can you find out what kinds of insurance requirements are necessary for your type of commercial vehicle, and if you're a fleet or company owner, how do you ensure that each of your drivers is properly insured?

Many private insurance companies contain information regarding what types of insurance truckers need to stay legal. For instance, the National Independent Truckers web Tales from the Crypt lists the insurance regulations needed for truckers to obtain ICC/ MC Authority. The requirements are separated into the following weight classes: "Vehicles with a Gross Vehicle Weight Rating of 10,000 pounds or more", and "Vehicles whose buy games is less than 10,000 pounds"

Truckers need to meet these requirements, as ICC/MC Authority is necessary for any commercial vehicle. While truckers can certainly used the National Independent Truckers web site for research purposes, truckers can also visit more official sites to confirm the insurance requirements necessary. Regulations.gov, a government web site, allows truckers to find all sorts of federal regulations having to do with the transportation industry. Because government regulations can be difficult to understand, and insurance companies can stretch the truth in order to get your business, you can also call your local DOT and BMV representatives in order to ask questions.

When searching for legal requirements online, just remember that different types of vehicles require different types of rel="nofollow" href="truckertotrucker.com/semi-truck-insurance-rates.cfm">truck insurance. Make sure you're getting the right type for all your needs, including weight, your cargo, and your company.

Marilee McCormack is the managing editor for Truckertotrucker.com which specializes in href="truckertotrucker.com">Trucks For Sale

Seven Tips to Cut Drastically the Cost of Living

Many people and families Love Notes forced to cut their personal expenses for their daily consumption. They have already lost their job or they worry about their job. Many workers sit at home because Schuco Teleco employer has sent them to an extended holiday and their salary has been reduced. Cutting expenses is inevitable to get rid of debts and to regain financial freedom. It never has been such 1956 Topps football cards good time to catch good bargains as in these days. Here are some practical tips to cut the cost of living or to cut the costs as Creature Castle small business owner:

1. It is recommendable to think and plan about the needs before the shopping tour starts. Are all the goods really necessary that we shop in our daily life? What does a person need and what can be left out or postponed to better days?

2. A shopping list belongs to the shopping trip to downtown. A shopping list preserves from buying unnecessary goods spontaneously.

3. There is stiff competition among the retailers. They offer every week high discounts on certain goods. Detergents or other storable goods should be purchased systematically during such discount campaigns. The daily menu at home can be accommodated to running discount campaigns for food. The supermarkets usually offer high discounts on fruit, vegetable or meat after they have achieved a favourable bargain for fresh deliveries in bulk. They need to sell them off as soon as possible and reduce the prices.

4. Why buying fashion goods, jewellery, watches, home electronics, software, DVDs, kitchen equipment, furniture etc. of famous brands to the full prices? Goods from branded names do not have to be expensive: e.g. Gucci, Sony, Apple, D&G, Panasonic, Nike, Prada, Lacoste, HP. There are many opportunities of buying them to half of the official prices or even lower from a liquidation shop. These kinds of shops spread out in all greater towns. They sell brand new, untouched goods that originate from liquidations of shops, inventories or factories.

5. There are manufacturing shops or factory outlets. They offer brand new goods on high quality. It is cheaper to buy goods there than at the shopping malls and department stores.

6. Why buying goods during the main season and not waiting for the time when the shops reduce the prices to discount rates of 30, 40, 50 or even 70 percent? Many consumers haste through the crowded shopping malls during the days before Christmas. All these goods are significantly cheaper after the Christmas Holiday. It is clever to plan the Christmas presents throughout the year and to check out the shops for a good bargain. Also toys for the kids can be bought at liquidation stores or factory outlets.

7. Dropshipping is a business model that creates a win-win situation for both: the merchant and the consumer. A small business owner or merchant sells a consumer good of a famous brand to the customer to a high discount. The customer only pays the wholesale instead of the higher retail price. The customer has to advance the money to the merchant. The merchant uses the advanced payment in order to purchase the good directly from the producer or another good source to a much lower price. The merchant does not need to run an expensive inventory and he benefits nevertheless from a satisfying profit margin. By the way, there are internet communities and directories that help to find out good bargains within a reasonable time. 1956 Topps football cards tips how to make money or to save money can be found and discussed at Make Money Tip.

Liliane Waldner

Liliane Waldner is a business economist. She lives in Zurich. She has been in a member of the parliament of the State of Zurich during 17 years. She has attended the board of several public entities and companies, some of them dealing with the financial markets. Her website is: href="makemoneytip.com">makemoneytip.com