Commercial truck insurance is required by law in California.
Different types of commercial trucks have different insurance needs. A tow truck, for example, faces totally different risks than a produce hauler. Many insurance products are available to meet the varying needs of different businesses and no single type of policy or set of requirements will apply to everyone. Some general information is commonly needed for all types of commercial truck insurance.
Vehicle Information/VIN
For nearly every type of commercial truck insurance, you must supply the insurance company with specific vehicle information such as the year, make, gross vehicle weight and VIN. This will likely be required even if you are not insuring the trucks for physical damage.
Usage
You must tell your insurance company how your trucks will be used in your business. A pickup and delivery truck must be covered because the driver is frequently away from the vehicle, while a long-distance hauling truck does not face this risk. Knowing the primary use of your vehicles will ensure you receive the coverage you need.
Size of Fleet
For larger fleets, or ones which exchange vehicles often, you may be able to purchase insurance that covers any vehicle rather than ones specifically scheduled on the policy. These policies are typically rated on a gross revenue or total mileage basis. Your broker can help you determine which type of policy is best for your business by comparing fluctuations in your fleet size, gross income and mileage.
Liability
Liability insurance is required for commercial trucks in California. As of June 2010, the Federal Highway Administration (FHWA) sets a minimum liability limit for trucks over 10,000 pounds gross vehicle weight involved in interstate travel at $750,000.
Motor Truck Cargo
Motor truck cargo insurance protects the freight being hauled. Tell your broker what type of freight you carry, as well as the total dollar amount being hauled per vehicle, so your coverage will properly match your needs.