Do I need box truck insurance? Might be yes or might be not! If you are juggling with this question and are confused to decide then this post will give you clarity. If you own a box truck with an average dimension of 14 feet then you surely need commercial truck insurance. Why? Keep reading to learn more!

If you are a box truck driver then consider yourself a short-haul hero. This is because you meet the need of distributing goods to several venues within a brief timeline. Companies that use box trucks for their business spend thousands of dollars on repair and maintenance when they get into an accident or lose their equipment due to theft or other reasons. Any individual providing services like courier, moving, retail, etc. through a box truck should carry commercial truck insurance to cover their investment (vehicle itself) and costly equipment (inside the vehicle).

For instance, if you experience emergency brake failure while loading a washing machine or any other appliance. This incident could lead to a costly expenditure that you have to pay out of your pocket if you are not appropriately insured. To avoid such a financial shaking situation you need to cover your business with suitable box truck insurance.  

What is the importance of box truck insurance? Which type of coverage is right for you?

Due to the moderate size of box trucks, they are in very high demand to help small and online businesses for delivering heavy equipment or appliances that people cannot lift without the right set of tools. Box trucks are one of the most preferred commercial vehicles for transporting shipments.

Box trucks are mostly used for moving household goods, furniture restoration, and businesses providing retail services, courier services, and hardware. There is a huge risk of carrying goods from one point to another within a quick time frame. There is a potential risk to the shipment as well as the vehicle you are using for expedited delivery. Your trucker can meet with an accident, or lose the shipment in the event of a fire, explosion, or theft. Truckers who don’t have enough insurance coverage can run into a major financial crisis whereas those who have proper box truck insurance will get compensated for the loss they suffer in the incident.

Now you know the significance of getting box truck insurance. Let’s look at the coverages you need to protect your trucking operations.

Reefer breakdown coverage

This coverage protects you against the damages or loss you suffer due to the failure of the control system in a refrigerated trailer. This policy pays for the expenses you suffer after the reefer breakdown of the trailer.

Liability coverage

Whether you drive a box truck for expedited delivery or long haul, the likely risks of getting into an accident are always present. Having liability coverage is mandatory by state and federal law which protects you against bodily injury as well as property damage caused to the third party after an accident. Liability coverage also protects you against the lawsuit you face after an incident whether you are at fault or not.

Medical payments

This coverage pays for the medical expenses arising after an accident no matter whos at fault. This policy is important coverage for any short or long-hauler.

Physical damage

Physical damage coverage is optional and not required in commercial trucking but we recommend it. This type of coverage pays for the damage or loss to your own commercial truck/trailer during an incident. You can choose the limit of coverage, it can be comprehensive or collision, or both. This will get you covered against losses in the event of theft, vandalism, severe weather, etc.

Uninsured or underinsured motorist

When your trucker gets physically injured or faces property damage then this coverage comes into play. There are many truck drivers that operate on roads without adequate commercial truck insurance. In such a case, when an uninsured trucker causes bodily or property damage to you (third party for them) then you can reimburse the expenses with uninsured or underinsured motorist coverage.

Cargo insurance

The most important asset in your box trucking business is the cargo you haul. Having adequate truck cargo insurance means all the shipments, accessories, or equipment that keep the cargo safe are covered. If theft, fire, vandalism, or explosion leads to loss of the cargo then truck cargo insurance reimburses the expense you incur after the accident.

Other additional coverages

You can opt for the following additional coverages to add an extra protective layer to your business operations:

• Trailer interchange: Protects trailer that you don’t own.
• Rental reimbursement: Pays for the rental truck you use when your own box truck is undergoing repair after the accident.
• Accessories or equipment coverage: Protects the expensive equipment of your box truck.
• Unattended cargo: Protects against risks of theft or vandalism when you halt for food or rest during the long haul.

Final thoughts

No matter for what purpose you use your box trucks, you need to ensure that your commercial vehicles are fully protected against all the likely risks that can put your business operations on hold. Having proper box truck insurance means you get the following benefits:

• Cover the legal fees when a third party sues your company or driver for injuries or property damages in an accident.
• Pays for the medical expenditure you suffer after an incident.
• Protects your cargo against the risk of theft, vandalism, fire, and explosion.

So, avoid risking your money when you buy a box truck. Your valued investment can bring expensive damages to other people as well as to own trucks if met with an accident. To add an extra layer of protection to the commercial vehicle you need to get adequate commercial truck insurance for your box truck.

Lastly, don’t opt for insurance coverage after considering only the cost. Many insurance providers offer low insurance quotes with inadequate coverage. This will not be beneficial for you when the actual incident happens. Always opt for truck insurance coverage that pays out for the real loss you suffer after an accident.

Janice Allen

Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.