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Truck Accident Insurance

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Federal regulations require trucking companies or truck owners to have certain types of truck accident insurance policies. Such insurance is meant to protect victims of truck accidents from truckers or trucking companies who cannot afford to pay the victims in case of truck accidents. There are other types of truck accident insurance policies available which, although not mandated by law, are very beneficial to truck drivers, owners, and trucking companies. Here's a look at the various options in truck accident insurance.

Types of Truck Accident Insurance

1) Worker's Compensation Insurance: This kind of truck accident insurance protects truck fleet owners in the event of any truck accident involving any employee driver. If the truck driver sustains any injuries or dies due to the truck accident, the truck driver or truck driver's family can be compensated from the proceeds of this insurance. Most states mandate this type of insurance for truck owners who have truck driver employees.

2) Third Party Liability Insurance: This type of truck accident insurance is also required by law in most states. Truck accident liability insurance is a type of coverage which protects truck drivers and companies from a third party claim in truck accidents. This insurance will help to pay for any damages or compensation that the insured is liable to pay for his negligence in a truck accident.

3) Physical Damage Insurance: In any truck accident, physical damage to the truck is almost unavoidable. Repairs and renovation of the truck involved in a truck accident can be very costly. Physical damage insurance is a protection against such expenses. This type of insurance will pay for the repair of any truck after being in a truck accident. Such type of truck accident insurance is usually available with added options, such as:

Downtime Coverage: If you have downtime coverage added to your physical damage insurance, you can claim lost wages, which have been caused because of the truck being inoperable for extended periods as a result of the truck accident.

Content coverage: This option includes the contents of your truck in your truck accident insurance as well. So, if any items such as personal computers, tools, or other personal things are damaged in the truck accident, and you have content coverage, you will reimbursed for the loss of the damaged contents.

Rental reimbursement: Many truckers need to rent a truck when their truck is rendered inoperable because of a truck accident. With a rental reimbursement option, you can claim most of your rental costs.

4) Occupational Truck Accident Insurance: If you are the owner of a truck and operate the truck as well, you are not protected by worker's compensation insurance in case of a truck accident, as you are not an employee but a truck owner. Thus, for operator-owners of trucks, occupational truck accident insurance is available, which will protect you in case of a truck accident.

5) Rider (passenger) Truck Accident Insurance: This type of truck accident insurance benefits those truck drivers who usually drive with another rider or passenger in the truck with them. Such an insurance policy will cover any injuries caused to the passenger in case of a truck accident.

Some of the above types of truck accident insurance are compulsory by law, whereas others are not. But for your own protection and peace of mind, no truck driver or trucking company should operate any of their trucks without adequate truck accident insurance.

Most importantly, the best way to prevent time lost on repairs and/or recovery is to drive safely, as truckers and those in other vehicles need to peacefully co-exist on the road. Remember to realize that trucks can easily become deadly weapons if they are improperly driven or those around them don't use some common sense.