For businesses operating commercial trucks in Iowa, navigating the complexities of truck insurance is critical to protecting their assets, employees and financial health. Commercial truck insurance may help cover risks that regular vehicle insurance does not address.

What Is Commercial Truck Insurance?

Commercial truck insurance is a specialized category of vehicle insurance designed to meet the requirements of the trucking industry. It typically includes several types of coverage to protect against the unique risks associated with commercial trucking operations, which may include accidents, theft, natural disasters and cargo damage.

Trucking insurance is highly customizable. Your agent may recommend purchasing the following policies:

• Liability insurance—This is the mandatory coverage in Iowa and most states. It may help cover damages and injuries your truck might cause to other parties, including bodily injury liability and property damage liability, up to the policy’s limits.
• Physical damage coverage—This part of your policy may help cover the repair or replacement of your truck if it’s involved in an accident, regardless of fault. It usually includes collision insurance for accidents and comprehensive insurance for other damage forms like theft, vandalism and natural disasters.
• Cargo insurance—Commercial trucks often carry valuable goods, and this coverage can help protect against the financial effects of cargo that is damaged or lost during transit.
• Nontrucking liability—This coverage may provide coverage when the truck is used for nonbusiness purposes.

How Do You Choose Trucking Insurance Policies and Endorsements?

When selecting commercial truck insurance, it’s essential to consider the following factors to help ensure appropriate protection:

• Cargo type—The nature of the goods you are transporting can significantly influence your insurance needs. Hazardous materials, for example, often require additional coverage.
• Truck usage—How often and how far your trucks travel can impact your insurance rates and needs. Long-haul trucks typically face different risks than local delivery trucks.
• Driving records—The experience and driving records of your truck drivers can also affect your insurance premiums. More experienced and safer drivers generally lower your risk profile.
• Truck and equipment value—The more expensive your truck and equipment, the more coverage you will need to protect your investment against potential losses.

Where to Get Commercial Truck Insurance in Iowa

Contact Elliot-Hartman in Waterloo, Iowa, to learn more about your trucking insurance options and get a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.