Dump trucks are an essential part of the construction industry. To mitigate risks in the field and protect their assets and business, they need to have the right insurance coverage. Yet, their heavy-duty build and the materials they haul can make this a challenge.
Dump truck insurance provides comprehensive coverage that ensures financial protection when faced with accidents, damages, or liabilities.
Let’s take a closer look at the unique insurance needs of dump trucks.
What is Dump Truck Insurance?
As a specialized commercial truck policy, dump truck insurance is designed with dump truck operators and their businesses in mind. Dealing in construction, hauling, and waste disposal, presents plenty of opportunities for things to go wrong, both out on the road and on construction sites.
When you invest in a dump truck insurance policy, you can have the peace of mind that if an accident, injury, or damage occurs, you will not have to face any financial losses. Because it is created to protect against the risks directly related to what you encounter on a daily basis, you will find it to be an effective solution for you.
What Does Dump Truck Coverage Look Like?
All dump trucks are not created equal — and neither is dump truck insurance coverage. So, regardless of the type of dump truck or whether you are an owner-operator or you own a company with a fleet of dump trucks, there is coverage for you.
It is important to keep in mind that each policy is different because it should be personalized to your specific needs. Here is an overview of some common coverage you can expect with this insurance.
Liability Coverage
Liability coverage is beneficial for things like bodily injury and property damage. If you are dealing with an at-fault accident, medical bills and repairs from property damage can get very costly. This coverage can help alleviate those expenses.
Physical Damage Coverage
If you have been involved in an accident with your dump truck, it may be in need of repairs or require a total replacement. This type of coverage will ensure that it is repaired or replaced so that you can continue running your business.
Comprehensive Coverage
Although dump trucks face a lot of risks out on the road, they don’t always need to be moving to face damage. Theft, fire, natural disasters, vandalism, and other non-collision incidents are all potential risks and can interfere with your ability to work.
Comprehensive coverage protects you in this instance.
Cargo Coverage
Cargo coverage is just what it sounds like — protection for the haul being transported by your dump truck.
Uninsured/Underinsured Motorist Coverage
While you may carry all the proper policies to protect your dump truck, not everyone else will follow the rules. It would not be unusual for you to find yourself in an accident where the other party is at fault — and they don’t have insurance.
This coverage will ensure you get what you need.
Types of Dump Truck Insurance
Specifically, the types of dump truck insurance available to meet your needs, include:
- Primary liability insurance
- General liability insurance
- Physical damage insurance
- Motor truck cargo insurance
- Non-trucking liability insurance
Whether or not this insurance is required will depend on the state where you are located and operate. Generally, most states will require at least some coverage. What’s more, many construction and hauling contracts will ask you to prove you have insurance.
By making the investment in dump truck insurance, you protect your financial interest in your business — and, of course, protect your truck. Mitigate risk and get a policy that caters to your needs.
Daniel & Henry provides comprehensive, value-added commercial truck insurance solutions designed for your trucking business. To ensure you are covered no matter the situation, learn more about their coverage options at https://truckerinsure.com or call 877-406-5915.