Carrying adequate commercial transportation insurance is essential to those who run a business that depends on commercial vehicles to provide transportation services. You must carefully consider coverage amounts and know how to look for signs that you need more commercial transportation coverage.
The following are three signs that you’re not carrying enough commercial transportation insurance.
You’re stressed out about your commercial transportation insurance coverage.
You can always raise maximum coverage for your commercial transportation insurance policy if you’re worried about having enough coverage. It may give you peace of mind to increase your insurance coverage so that you know that you’re not putting your company at risk financially due to inadequate maximum coverage limits.
You don’t have enough collision and comprehensive coverage to cover the full value of your fleet.
One of the most significant amounts to consider when calculating your commercial transportation insurance coverage needs is the value of your fleet.
Consider whether you have enough coverage to cover the total value of your fleet. If your coverage maximizes the value of your fleet, you should have enough collision and comprehensive coverage on your policy.
You’re not carrying enough commercial transportation insurance to cover the full value of your cargo.
If your commercial transportation company is in the business of transporting cargo, make sure your policy can cover the value of your cargo. The clients you transport cargo for will hold you liable if their cargo is destroyed en route while you have that cargo. You must protect yourself with adequate insurance coverage to cover cargo value.
We provide commercial transportation insurance coverage in Jacksonville, FL at 925 Partners. Contact us via email or phone if you have questions about your coverage needs.