If you have a fleet of vehicles that you use for business operations in Jacksonville, FL, commercial transportation insurance is a must. This suite of coverage protects your operations from a variety of risks. The staff at 925 Partners can help you design a policy to fit your needs.
Roads Carry Diverse Risks
A commercial transportation policy divides perils into three main categories: third-party liability, physical damage to vehicles you own, and cargo and inland marine. If you carry hazardous materials, fuel or oil, your policy may have a fourth category called specialized environmental perils that goes into effect when spills and cleanups occur. When applicable, you can add bobtail and non-trucking liability and trailer interchange coverage.
Understanding the Categories
Third-party liability is similar to vehicle insurance. If you or one of your drivers causes an accident, coverage applies to bodily injuries and property damage. It pays for victims’ medical bills, rehabilitation, and related costs, as well as legal defense if you are sued.
Coverage for physical damage perils is also similar to a vehicle insurance policy. This section covers collisions with other vehicles or objects, along with comprehensive protection for non-collision mishaps. Examples include:
- Natural disasters and weather
- Theft of vandalism
- Animal strikes
- Engine fires and explosions
Cargo and inland periods protect the goods that you transport. These include:
- Transit losses from overturned vehicles or severe collisions
- Cargo stolen from a locked trailer or targeted theft of a vehicle
- Temperature failure resulting in spoilage of refrigerated goods
For vehicles and cargo, policies typically pay out actual cash value unless you have specifically negotiated agreed value for specialized equipment.
Learn how to customize a commercial transportation insurance policy with 925 Partners. Our agents will work closely with you to discover your needs. Contact our Jacksonville, FL, office today to get started.
