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Alberta Transportation Insurance
For those who have an entrepreneurial side, taking their chances in the trucking industry may be just the thing. Becoming an owner operator is an excellent way to take charge of your future with great earning potential. Being your own boss brings with it a certain freedom that you cannot get from anywhere else. With the right Transportation Insurance policy in place, this could be a worthwhile move.
It does not matter if you decide to become a completely independent carrier or if you decide to lease your services and your truck to another carrier. Either way, as long as you are adequately protected against the wide array of risk exposure that comes with this job, you could be on your way to an exciting and profitable future.
Of course owning a rig of your own comes at a great expense. Therefore, you need to contact Leibel Insurance Group of Edmonton, Alberta to make sure that you have adequate Trucking Insurance that will cover your investment entirely. This is a critical step that cannot be overlooked.
There is no doubt that the trucking industry is a lucrative field. However, you must consider the protection of your assets if you are ever involved in an accident or become the victim of theft. For this reason, it is a great idea to have the support of a broker with extensive knowledge in the industry to provide you with specialized coverage at an affordable price. Once you have the right transportation policy in place, you will be able to rest assured that your financial security will not be at risk when the unexpected takes place.
Do You Really Need Inland Marine Insurance?
Whether you invest in a semi-truck, a tractor trailer or an entire fleet of trucks, at the very least you will need to invest in liability insurance. The reason for this is that a vehicle as large as a commercial cargo truck has the potential to cause a lot of damage in the event of an accident. Therefore, financial advisers everywhere recommend purchasing a certain amount of Transportation Insurance. Without sufficient coverage, your financial standing could be in ruins after a major collision.
If you lease your truck to another driver, then that driver will be responsible for purchasing their own liability insurance coverage. On the other hand, if the trucker that leases your truck does not carry adequate coverage, you will need your own coverage to be protected against a risk of excessive liability. In order to make the decision regarding whether this is an options that will be in your best interest, you will need to consult one of the insurance professionals at Leibel Insurance Group
Additional Trucking Insurance Coverage To Consider
In addition to liability coverage, you may also want to think about including some of the other coverage options that are available from Leibel Insurance Group When you have a firm understanding of the options, you will be able to choose the best coverage to meet you specific needs and address all of your concerns. Your broker will provide you with all of the details of the coverage that you may be considering, such as:
- Coverage for physical damage – This is the type of coverage that will be required by the lender if you take out a loan to purchase your commercial truck. In addition, you will need to carry this coverage throughout the life of the loan. Your driving record will be taken into consideration for your premium, the better your record the lower the cost will be. You will receive the depreciated value of the vehicle if you are involved in an accident.
- Gap insurance – If you plan to purchase a truck of high value through financing, you will need this coverage if your truck sustains serious damage or is totaled. With gap insurance, will provide coverage in the event that the current depreciated value is less than the amount owed, so you will be able to pay off your loan without a significant financial loss.
- Equipment insurance – In addition to your physical damage policy, you may also want to add equipment insurance to cover your additional equipment, such as tarps, chains and electronic equipment that you may have added after you purchased the truck. You may also be able to receive compensation if you lose a tank full of diesel in an accident.
- Inland Marine Insurance – You are required to carry a certain amount of coverage in order to protect the cargo that you haul. The value of the cargo that you carry will determine the amount of Trucking Insurance coverage that you require.
Do not head out on the road with a load unsure that you have the exact Inland Marine Insurance coverage to protect you, your truck, your cargo and your livelihood. Click on the quote request button now before it is too late and all is lost.
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