Trucking Insurance in Tennessee
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Trucking Insurance Information
Contact the Mike Dyer Agency in Knoxville, Dayton, Madisonville and Kingston, Texas, to learn more about tailoring a truck insurance policy to meet your organization’s needs.
What Is Truck Insurance
Trucking companies must have commercial truck insurance that includes minimum amounts of liability insurance according to Tennessee laws and the Federal Motor Carrier Safety Association (FMCSA).
Public liability insurance, which can be required by the FMCSA, helps cover losses incurred by third parties when a truck driver is at fault in an accident.
Minimum public liability insurance requirements vary according to numerous factors, including the type of freight your drivers typically haul.
Every Tennessee company using vehicles to conduct business must carry commercial vehicle insurance, no matter the vehicle’s size. This policy helps cover a company’s legal liability if the driver of a company vehicle is at fault in an accident.
You can add coverage to your commercial auto insurance policy to help cover damage to your company’s truck after an accident.
When building your commercial trucking policy, your agent may start with liability coverage:
- Commercial auto liability coverage helps pay for third-party injuries and property damage. It includes two main types of coverage:
- Bodily injury liability helps pay medical bills for third parties injured in an accident if the tractor trailer driver is legally liable.
- Property damage liability helps pay to replace or repair third-party property after an accident if the tractor trailer driver was at fault.
In addition to basic liability coverage, a commercial auto policy typically provides the following:
- Comprehensive insurance helps pay for damages after an incident or accident where damage is unrelated to a collision. You may need this coverage to replace or repair your tractor trailer after acts of vandalism, a fire or weather damage.
- Collision insurance helps pay for damages to a tractor trailer after an accident involving another vehicle or a collision with an object.
- Medical payments (MedPay) helps pay medical bills and other financial losses if the tractor trailer driver or a passenger is injured in an accident.
- Uninsured/underinsured motorist insurance helps pay to replace or repair a tractor trailer if an accident causes damage and the at-fault driver is uninsured or doesn’t have enough liability insurance coverage.
Does My Truck Insurance Cover My Trailer?
Your commercial trucking insurance plan can cover your trailer if it’s listed on the policy with the trailer’s year, make, model and vehicle identification number (VIN).
You can also choose trailer interchange insurance, which helps trucking companies cover damage that occurs while switching trailers owned by third parties. This coverage only works if a trailer interchange agreement is in place between the insured and the trailer owner, but provides coverage whether or not the trailer is connected to the truck at the time of the accident.
If you borrow or rent a trailer, your tractor’s liability coverage applies to the trailer if its attached at the time of the incident. You can add non-owned trailer coverage to help cover physical damage to the trailer if the trailer is attached to the power unit when the damage occurs. A trailer interchange agreement isn’t required for non-owned trailer coverage.
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How to Get Commercial Truck Insurance
Your trucking company’s future financial stability depends in part on your commercial auto insurance policy coverages. Contact the Mike Dyer Agency to get personalized quotes from top insurers for essential truck insurance coverage.