Box Truck Insurance
Box truck drivers are heroic when it comes to upholding companies. Some industries require them to drive miles and miles, delivering products day in and day out. But roads can be treacherous, especially when you are spending so much time on them.
An accident can happen quickly, leaving your business to have to deal with damage and injuries. For this reason and others, if you conduct business utilizing box trucks, you are going to want box truck insurance for them.
Box truck insurance gives you the necessary coverage if something goes wrong during delivery or transportation.
What is Box Truck Insurance?
Box truck insurance is a type of commercial truck insurance that provides valuable coverage for you, your drivers, and your box truck following an accident. It offers liability coverage among other types of commercial insurance like collision and comprehensive.
Auto insurance or general truck insurance is required for all vehicles in nearly every state. Box truck insurance is no exception to this. It will provide protection for not only you and your employees but also your business assets.
An accident can be very expensive, and you do not want to be on the hook to pay for the damage, nor do you want to face the legal penalties for driving without box truck insurance.
Truck Types Covered by Insurance
You may have the standard idea of a box truck, but this type of commercial insurance is not always just for the typical box truck. Other trucks like straight trucks and moving trucks can benefit greatly from a box truck insurance policy.
Some common types of vehicles we insure with box truck insurance include:
- Moving trucks
- Straight trucks
- Tilt cabs
- Flatbed trucks
Businesses That Need Box Truck Insurance
To simply put it, if your business owns and operates at least one box truck, you need a box truck insurance policy. Every truck on the road, commercial or not, needs to be covered by commercial insurance in accordance with state insurance laws.
There are a number of businesses that rely on box trucks to operate their company, and, as a result, they need box truck insurance. Common types of business that need box truck insurance coverage include:
- Retail distributors
- Furniture delivery business
If your business is not listed, but you still use box trucks, you should still look into commercial box truck policies. Failure to do so leaves you and your business assets at risk. One accident is enough to wipe you out financially.
What Box Truck Insurance Covers
Coverage for box trucks is not too different from general auto insurance policies. There are some truck-specific policy add-ons available to expand coverage, but that will be explored in the next section.
Listed below are the types of coverage a standard box insurance policy offers:
Liability Insurance Coverage
Liability insurance encompasses both property damage and bodily injures that you cause in an accident. This could help in a hazmat situation where the cargo you’re carrying damages another vehicle, road, or person. Liability coverage can also help cover legal fees and settlement costs.
Physical Damage - Collision & Comprehensive Insurance
Physical damage coverage includes collision and comprehensive insurance. Collision coverage will pay for damage to your commercial vehicle you may experience following an accident, no matter who was at fault. Comprehensive coverage helps pay for damage to your vehicle after a non-collision-related incident, like theft, vandalism, or even a tornado.
This insurance will cover medical expenses you and your employees accumulate following an accident. It will pay out no matter who was at fault.
Uninsured and Underinsured Motorist Insurance
If you are in an accident with someone lacking liability insurance, this type of coverage will help pay for your medical expenses and box truck repairs. But it is worth noting that this only works if the other party has been found to be at fault for the accident.
Trucking Specific Insurance Coverage
There are a number of truck-oriented coverages you can add to your insurance policy. Understanding how these will help protect you and your drivers from a variety of incidents they may encounter while traveling is vital to your business.
Some common insurance policy add-ons include:
Trailer insurance covers you if the trailer of your truck suffers damage or is lost.
If your truck ends up in an accident or has a mechanical failure, towing coverage will help get you to an auto shop for the necessary repairs.
Trailer Interchange Insurance
Provides insurance coverage if you are participating in a trailer interchange service.
Motor Truck Cargo Insurance
This type of insurance protects you from damage or loss of your cargo during transport. An example is if your moving truck got severely damaged and the household goods you were carrying were destroyed, you would be compensated for your loss.
Unattended Truck Insurance Coverage
Unattended truck insurance can come in handy if you have drivers who go exceptionally long distances and need to rest for food or sleep. While the truck is idle or not attended to, this insurance will protect it from any damage or hazards it may be subject to.
Box Truck Coverage Cost
On average, a box truck insurance policy will cost business owners anywhere from $3,000 to $5,000 per year. That comes out to be about $250 to $417 per month for coverage. But your rates can easily be above or below these averages.
Like many other types of commercial truck insurance, box truck coverage rates are dependent on a variety of personal factors. Your insurer needs to understand you and your business in order to give you an accurate quote.
You will need to provide the following information to your insurance company when purchasing box truck coverage:
- Location - What state you live and operate your business in will directly impact your rates. A state or even city with populated, dense areas may see higher rates on their insurance due to their insurability risk being greater.
- Coverage limits - How much insurance you want will either raise or lower your rates. The more coverage you purchase for your business, the higher your premiums will be. But do not let this discourage you from properly insuring your trucks.
- Driving records - Both you and your employees will need to provide driving records to your insurer. An expert trucker will always get lower rates than someone who is new on the road. This will help establish how much of an insurability risk your business will be. If you have a long history of claims, your rates will be higher.
- Usage-Industry - The industry you are in and how much you utilize your box truck will be taken into consideration by your insurance provider. Some industries come with higher risks than others. For example, if you are a retail distributor who has truckers traveling long distances, your premiums may be higher than a technology business that occasionally uses a box truck for short-haul deliveries.
- Type of truck(s) - Make, model, and year of your box truck will impact your rates. Safety features may also be taken into consideration. Some box trucks may be more to insure than others.
As you probably can tell, some of the factors mentioned above can be customized while others cannot. If you are unhappy with the initial insurance quote you receive, it is highly recommended that you either shop around or inquire about discounts.
You are going to need this commercial auto insurance no matter what, meaning you probably do not want to break the bank over it.
Get a Cheap Box Truck Insurance Quote Today
Ready to get a box truck insurance policy? Contact us today to get a free box truck insurance quote. Make sure you let us know your zip code, details of your business, and information on your box trucks. By providing us with all this, we can get a better idea of the coverage you need.
Quotes are available either at one of our many locations or online in just a few clicks via our website and mobile app. Our Customer care agents are also just one call away to answer any of your frequently asked questions or FAQs. Get your box truck insured today and drive worry-free tomorrow.