Truckers in all industries face risks while transporting their cargo. Whether those hazards emerge while driving or loading/unloading, the proper insurance may help provide financial safeguards for these exposures.
Sebrite Agency Inc. can assist you in obtaining the policies your business needs. Contact us today to get started.
What Coverages Are Available for Cannabis Truckers?
Truckers who transport cannabis need to be aware of specific laws when hauling their cargo. In addition to navigating regulations unique to the cannabis industry, these truckers face other risks. While it may be difficult to predict every hazard that may emerge, several types of coverage may be available to help offset the losses caused by these incidents, including the following.
Commercial Auto Insurance for Truckers
Commercial auto insurance policies for truckers may provide several coverages, including:
· Liability insurance—If you are at fault in an accident, this coverage may provide payments for third-party medical expenses or property damage.
· Collision coverage—This may help pay for damages if your truck collides with an object (e.g., a sign or fence) or another vehicle.
· Comprehensive coverage—If your vehicle sustains damage in an incident other than a collision (e.g., vandalism or fire), this coverage may provide repair or replacement costs.
· Uninsured/underinsured motorist insurance—If you are in an accident with a driver who has no insurance or inadequate insurance, uninsured/underinsured motorist insurance may help fill in the gap.
· Medical payments/personal injury protection (PIP)—Depending on your state, medical payments or personal injury protection may be available to help pay for expenses arising from an accident (e.g., medical bills). It may cover you, as the driver, and your passengers.
Motor Truck Cargo Insurance
Motor truck cargo insurance is a type of inland marine insurance. It may provide coverage for cargo that is damaged by covered perils (e.g., fire or collision) while it is in transit. You may also be able to secure insurance for cargo that is damaged during loading/unloading or for lost income if a covered event prevents a load from being delivered.
Bobtail Liability Insurance
This insurance may cover liabilities that arise when you are not carrying a load or when you do not have a trailer attached to your truck.
Non-Owned Trailer Insurance
If you do not own the trailer you are pulling, you may need to secure non-owned trailer insurance. This can provide coverage for damage the trailer sustains while attached to your truck.
Other insurance policies may be available, and it is vital to make sure you are adhering to the applicable laws and regulations.
How Much Does Insurance for Cannabis Truckers Cost?
The cost of insurance coverage for cannabis truckers varies. Factors like the age and size of trucks being insured, your business’s claims history and your selected limits may affect the premium.
Sebrite Agency has the experience to work within the specialized cannabis industry, and we can assist you in obtaining the right insurance for your business’s needs. Contact us today for a quote.