General Liability Insurance for Trucking Company – An Informative Guide

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All business, including trucking companies, faces different types of risks. To cover all these risks, businesses need different types of insurance policies. General liability insurance for trucking company is one of the most popular insurance policies in which all companies prefer to invest.  Though you will get liability coverage on your commercial auto policy, there are many situations in which general liability insurance is the only option. Here, we will give you an insight into general liability insurance for trucking companies. We will also provide an idea of the cost of this insurance. However, you can also know the commercial insurance cost by checking how much is commercial truck insurance.

What is general liability insurance?

General liability insurance, also known as business liability insurance, refers to the insurance policy that keeps businesses protected from “General” claims involving physical damages, property damages, etc. Every business should have this insurance to cover all the risks of different damages for which the business is legally responsible. In the case of trucking companies, you may have commercial auto insurance, which covers the damages caused only by the commercial vehicles.

However, besides this, many risks should also be insured. For instance, your employee may be physically damaged by a slip and fall on your premises. Your commercial auto insurance will not cover this. In that case, your only option is general liability insurance which covers all general liability of your business.

Cost of general liability insurance

Trucking companies need to pay $30 per month for general liability insurance in America. The cost is around $450 to $1000 for 1 million general liability coverage in a year. Though this price is varied by different factors, which are as follows:

  • Location
  • Size of your business
  • Number of employees
  • General aggregate limit
  • Deductible
  • Pre-occurrence limit, etc.

General liability insurance for trucking company

Trucking companies must face different liabilities for operating trucks like all other small businesses. For instance, accidental customer injuries, damages to the customers’ properties, etc., are the most common liabilities. If you purchase general liability insurance for your trucking business, it will cover all these liabilities. Besides these following liabilities, it provides many other coverages that you should know. These are as follows:

Bodily injury

General liability insurance offers coverages for the third parties who are injured in the course of your business or for any reason on your business premises.  For instance, a customer may slip and fall on your premises and get a physical injury. If you purchase this insurance, you will get compensation for the damages.

Medical payments

After getting some physical damage, you will face different medical bills like ambulance fees, medicine costs, surgery costs, etc. General liability insurance covers all the medical payments associated with bodily injuries.

Property Damage

Trucking companies generally have a huge number of trucks for providing different services. One of the truck drivers may accidentally hit property and can cause some serious damage to that third party. General liability insurance also offers coverages for these kinds of property damages caused by your business.

Personal and advertising injury

The general liability insurance also covers things like libel, defamation, and slander. Sometimes, these things can happen unintentionally. A social media post or a bad comment can cause a lawsuit against your business. You can easily minimize these risks by purchasing general liability insurance.

Damage to premises rented to you

You can conduct your trucking business by renting from a third party. In that case, any damages can happen in the course of your business. Any rented property can be damaged. General liability insurance also covers this type of risk.

Other damages

As a trucking company, you may face many different damages like fire, collision, theft, etc., which are not covered by commercial auto insurance. However, general liability insurance covers all these damages. 

Wrapping up

These are the coverages general liability insurance provides all small businesses, including trucking companies. Actually, commercial auto insurance will not cover all the risks in some cases, where you must buy this policy to minimize those risks. Besides, the cost of this insurance is around $30 per month. So, you can definitely consider general liability insurance for your business. Anyways, in this article, we have conducted a detailed discussion on general liability insurance for trucking companies. We hope this article has enhanced your knowledge regarding this topic.

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