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What Type of Insurance Do You Need as a Commercial Trucking Company?

Trucking is a crucial and significant part of the economy, helping to facilitate a smooth transfer of goods to distant locations. Owing to the nature of work and the importance of the trucking sector, both state and federal governments have made it mandatory for truckers and commercial trucking companies to insure these vehicles.

Every trucking company must invest in the best commercial trucking insurance because it will help them protect their business against potential liabilities. The government mandates having insurance to protect the interests of the public, truck drivers, and commercial trucking companies hauling the goods and wares.

Since there are many different types of insurance for semi truck insurance Alabama, comprehensive insurance, and more policies out there, commercial trucking companies can find it challenging to lock one down. Therefore, let’s keep on reading to explore more about the best type of insurance for commercial trucking companies.

Why is Commercial Trucking Insurance Needed?

Every commercial trucking company should have semi truck insurance Alabama to cover financial liabilities in events of loss due to road accidents, damage in transit, thefts, etc. Having insurance in place is mandated by law because it covers the financial interests of all involved parties.

Since trucks are the biggest assets for any commercial trucking company, businesses must protect them by securing them under the right insurance. The commercial semi truck rates for insurance vary because of numerous factors, so ensure you talk to a reliable insurance broker(s) that can help you get the right insurance at the best price.

Types of Insurance You Need as a Commercial Trucking Company

As a commercial trucking company, you cannot afford to take uninsured trucks on the road. Doing so will attract hefty penalties and fines, and even lead to suspension of the company’s operating authority. Invest in the best Alabama semi truck insurance to safeguard your best interests for these types of sensitive situations.

While it can be hard to determine which policy works best for your commercial trucking company, there are specialized agents available that help you narrow the bridge between having affordable semi truck insurance while protecting the load you are hauling as well as any accidents that may occur during the trip.

Commercial trucking companies are required to have the following types of coverage in commercial insurance in Alabama:

Liability Insurance

One of the most crucial insurances for commercial trucking companies, liability insurance should be taken as it covers financial damages arising from property damage and bodily injuries and is generally the most affordable option. There are many reasons to carry valid insurance for semi trucks.

Let’s say a trucker employed by your company is responsible for a road accident, your commercial trucking insurance will take care of the arising financial liabilities. Throughout Alabama, there are minimum liability insurance limits set, and every commercial trucking company has to follow them.

Bobtail Insurance

Another important insurance for semi trucks, tow trucks, and box trucks is bobtail insurance. Also known as non-trucking liability insurance, it covers companies against financial obligations arising during damages when the truck was not hauling a load or under dispatch.

Simply put, it provides protection to trucks and drivers when the vehicle is returning to the base after making a delivery. This is another important type of insurance that commercial truck drivers need to have at all times.

Worker’s Compensation & Liability Insurance

This Alabama semi truck insurance is designed to protect truck drivers’ interests. All commercial trucking companies are mandated to have this insurance so they can give wage replacements and medical benefits to truck drivers or employees who get injured on the job.

Also, liability insurance is a must-have insurance for semi trucks, tow trucks, tractor-trailers, and flatbed trucks. This excess liability insurance is designed to provide additional coverage beyond primary liability insurance and covers extensive damages caused by catastrophic events and a lot more.

Cargo Insurance

Since most commercial trucking companies transport massive amounts of goods, it becomes crucial for companies to ensure the ware’s value. It is a must-have commercial trucking insurance as it covers the full value of the products being transported by your trucks. It can give you financial coverage in events of loss due to accidents.

Those are the standard types of insurance that a commercial truck driver must have in order to drive safely on the road but the worst thing you can do for a trucker or trucking company is to not have commercial semi truck insurance or let the policy lapse.

How to Get the Best Semi Truck Insurance in Alabama?

Contrary to the commonly believed notion, getting the right commercial trucking insurance isn’t as easy as it sounds. Since a lot is at stake for commercial trucking companies, they cannot risk investing in the wrong insurance. It is where approaching an experienced, reliable, and knowledgeable insurance agent takes place.

We Shop 10 helps commercial trucking companies get the best commercial trucking insurance based on the company’s precise requirements and the government’s mandate. You can contact our team today for a personalized consultation to learn more about our specific insurance for your commercial trucking company and rates.


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