Commercial Insurance: A Complete Guide

Commercial Insurance

The 3 most important coverages

One of the most important requirements when opening your trucking company is to get commercial insurance that supports you if necessary .

Find out here the 3 most requested coverages when purchasing a commercial policy .

If we talk about commercial insurance for trucks, the first thing that comes to mind is the financial support that companies give us when we need them no matter what, when, how and for how much.

Now… Are you looking for a commercial policy for your trucks? We will review the coverages that are considered most important to keep your truck business safe, these coverages are popularly known as FULL COVER since with them 3 you will have a complete policy in case you require them.


In the United States there is mandatory coverage for any type of commercial business, read well, any type of commercial business, this means that you cannot start your company or travel the roads without this coverage, there are also permits that are authorized after obtaining it .

Liability is known for being a civil liability policy, since it covers damages done to third parties and in case you didn’t know, it has two sub-coverages that pay in case the driver/insured is legally responsible for the accident, which it becomes the main coverage in your commercial insurance.

Which are?

Sub-Coverage Body Injury (BI) Coverage

Pays for injuries or death to people involved in the accident other than the insured driver.

Property Damage (PD) Sub-Coverage

Pays for damages to the property of others that have been the result of the accident.


Approximately 500,000 truck accidents occur in the United States during a year, and in many if not all cases, the cargo being transported is affected.

This coverage, known as the Cargo, will protect the cargo that was being transported at the time of the accident. It is commonly required by businesses that have Trucking For Hire, Common Carrier or Authorization For Hire modalities , which means that the cargo belongs to a third party and this will require the insured to have this coverage in commercial insurance.

Let’s remember that the conditions of your business also depend on this, if in your company, for example, you transport DIRT, SAND and GRAVEL, you will hardly have to obtain Motor Trucking Cargo coverage, since this type of load is not damaged.

On the other hand,

if you transport refrigerated things change, because they are products that easily deteriorate at the time of an accident or if there is any damage due to the failure of the refrigerator, for cases such as the second option, an extension of the charge called REEFER BREAKDOWN , which has a minimum deductible of $2,500.


Of the 3 coverages, this is the only one that is optional, that is, the owner of the truck has the power to decide if he is going to require the coverage or not, since when any damage occurs to the truck or trailer , the only one affected will be the owner of the power units.

This coverage, unlike the others, does not have a limit to choose from, but the client places an appraisal on the unit, being aware of their real value in the current market.

Physical Damage has two sub-coverages that cover the insured in case of crashes or natural events. These coverages are:

Collision Sub-Coverage:

It takes presence when the insured vehicle overturns or collides with another object, it pays for the damages to your truck.

Comprehensive Sub-Coverage:

In the event of an event such as fire, theft, storms or vandalism, Comprehensive coverage will take care of paying for the damage.

Insurance agent working during on site car accident claim process – people and car insurance claim concept
Now that you know all the basics about the main commercial coverages, you can understand why they are called Full Cover, thanks to this you will have much less worries when driving on the roads of our country and you will be able to understand the value of what you are getting. paying your insurance company.

If you still do not dare to start in the world of trucks, we want to invite you to contact our business advisors, we are sure that they will help you make the best decision and you will become part of the FINO Services family .

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