Everything You Need to Know About Primary Liability Insurance
Whether you are a private transporter, an individual trucker, or own a trucking company, your commercial vehicles can harm any person or any other vehicle on the roads. You can’t take surety that an accident will not happen at all. This will lead to harming third parties which may include both property and persons. To save yourself from such circumstances and financial strains, primary liability insurance comes into play. In this blog, you will get to know each and every detail of primary liability truck insurance.
Let’s dive in further to know!
What is Primary Liability Insurance?
This is a kind of insurance policy that provides you protection against any claim by a third party. It will cover both properties as well as bodily injury in any unfortunate incident when your truck is at fault. This is a minimum insurance requirement by law that you should have to protect your trucking business. It will save your pocket to pay any legal cost associated with the damage done to the third party. It is basically divided into two main splits:
Bodily Injury: If you are the cause behind an accident and injured or killed another person, the bodily injury part of this coverage will cover this for you. Bodily injury will cover the given for you:
- Hospital and medical bills
- Long-term nursing care
- Funeral Expenses
- Pain and sufferings
- Lost earnings
And all these you have to pay as per your selected limits.
Property Damage: If you cause damage to another person’s property, then the property damage part of this policy will cover the related expenses. This includes:
- Repairing and replacement of damaged items.
- Damaged vehicles
- Lamp posts
- Houses and any other property damaged.
One of the main things here is, you don’t get coverage in case of damage done to your truck or shipment by theft, fire, vandalism, or any natural calamity. If you want to protect your truck in all circumstances, then there are a lot more truck insurance options available. As you read about the basics of primary liability insurance, let’s have a look to know some great benefits of it!
Positive Points of Getting Primary Liability Insurance
Some of the positive points associated with this sort of insurance are discussed:
Get Property Damage
As you know, trucks come under the heavy vehicle category and they can badly damage other vehicles and public property in any collision. This sort of coverage will give you protection in such cases and save your pocket when your truck is at fault.
Get Bodily Injury Payment
You know, truck accidents can lead to bad physical injuries and even the death of the person involved in the collision. In such cases, this coverage will bear the cost of medical bills associated with third parties.
Any Financial Help Associated
There are chances of damaging another person’s well-being and property. This insurance policy will assist you to pay their medical bills and repair money for their vehicle.
Apart from these points, this policy will protect your business to run smoothly in such circumstances. These accidents can put your business on hold, but this insurance cover will protect your business’s reputation. As these all are some basic benefits of primary liability insurance, let’s understand who actually needs this kind of insurance cover!
Who Needs Primary Liability Insurance?
Anybody who drives a vehicle on the roads whether commercial or personal, needs primary liability insurance. If you are driving a vehicle without this policy, then you may face severe penalties and heavy fines as this is mandatory by State Laws. No matter, you operate a small vehicle or any heavy-duty truck, a collision can occur anywhere in any circumstance. So, better to protect yourself from the financial strain of third parties, you never know how they will sue you if you don’t have any protection policy for them. This insurance coverage will save your business completely from any collision mistakes.
Exclusions of Primary Liability Insurance
With many benefits of this coverage, there are many other things that you will not get under primary liability insurance. Some of them are:
- If your truck or any vehicle is damaged in case of fire, theft, vandalism, or any natural calamity.
- Your own bodily injury.
- Damage to your vehicle in any collision when you are at fault.
The very basic purpose of this policy is to protect another person’s property and well-being from damage.
Cost of Primary Liability Insurance
As the cost of this kind of insurance depends upon various factors, there is no single thing that decides this. Also, here we can’t tell you an exact number that you have to pay for the one, rather we will discuss some basic factors affecting your insurance policy:
- Which level of coverage do you need?
- Your operating State requirements.
- Driving records of your truck or vehicle drivers.
- Any traffic rule violations.
- Risk factors associated with your type of vehicle.
- The standard operating region.
That’s all for this blog!
If you want to ply your vehicles carefreely on roads, then cheap liability insurance in california is must for you. It is also the bare minimum that the State requires. This may not cover your truck but will save you many financial crunches and legal hearings. Sometimes, the State Government also set the limit you need to pay for primary liability insurance as per your vehicle. Remember, this coverage will not protect your vehicle or you. So, to have complete protection, you need different insurance policies like General Liability, Cargo Insurance, Non-trucking Liability, Physical Damage, Trailer Interchange, Underinsured motorist, and many more.
I hope, you understand the importance of Primary Liability Insurance. Still, if you have queries in mind, Feel free to connect with us…We will serve you happily!