Commercial Auto Insurance for Dump Trucks

Owning and operating a vehicle as a component of your business requires you to invest in high-quality, customized commercial auto insurance. Most business owners recognize the importance of purchasing auto insurance for most vehicles, but dump trucks often require a bit more of a specific plan designed to minimize the most common risks. However, the type of ownership and use, as well as the size and value play a role in the determination of which insurance provides the best coverage.

What Do You Need to Consider When Purchasing Dump Truck Insurance?

Determine if commercial auto insurance is necessary first. Individuals who operate under a motor carrier as an aggregate hauler may not need a separate policy. The business insurance for that provider should cover the dump truck and all other vehicles the business uses. If you are an independent owner and operating your dump truck in your own business, a separate policy for the vehicle is necessary.

It is also important to consider commercial auto insurance policies for dump trucks based on the type of coverage needed. Independent owner-operators will need to purchase physical damage insurance for the vehicle and then purchase additional coverage for when they use off the clock for personal needs.

What Type of Insurance You Need

Dump truck owners of all types need to consider comprehensive policies that offer complete coverage for all of the risks of the business. Some key things to keep in mind include:

• Liability insurance. A general liability insurance plan is only a good start. Because of the hazards and risks of operating a dump truck, it is very common for business insurance needs to be more expensive. Expanding liability coverage with umbrella liability may be necessary.

• Property protection insurance. The dump truck itself is valuable. Having a comprehensive policy that covers it from damage such as fire and theft is important.

• Onboard equipment. Dump trucks today have incredible onboard electronics and tools. These items should have insurance that protects their value. Some items should have a special endorsement or add-on to the basic policy that provides a higher level of protection.

Commercial auto insurance for dump trucks is not a simple policy. Customize it to include the amount of financial responsibility the vehicle owner has depending on the type of business he or she owns or whether the vehicle is a component of a third-party operation.