Dump Truck SalesSo the new dump trucks ordered have arrived – is there insurance coverage available for these trucks? Has the process even been started to find the best coverage for the best price? Every dump truck sales transaction will eventually require suitable insurance – how should that process be handled?

Fleet Insurance Information

Acquiring fleet coverage for commercial utility vehicles is different from obtaining personal insurance for a vehicle and/or for a specific driver. Although specific information is needed, some general company information will also be required.

Generally, commercial and fleet insurance companies need certain specific information in order to provide a quote for dump truck coverage. Information that is needed for any price quote includes: length of current business operations; materials that will be carried by the dump trucks; and where the trucks will primarily operate are a few of the facts that will be needed to obtain an accurate quote.

Besides needing the above operations information, any insurance company will need all specific drivers’ information. Those facts will include: state driving record; driver’s age; length of time driving dump trucks and length of time with the company seeking the insurance are a few of the facts that an insurer will need to prepare a premium quote.

It is important to note that when searching for fleet insurance, it is extremely important to be as thorough and accurate as possible with the information being provided. In the internet age, much of the information provided can be verified online and any information changed or omitted will not be favorable either towards obtaining protection or getting a reasonable price for the coverage desired.

Dump Truck Insurance Coverages

Classification wise, dump trucks are heavy commercial vehicles that legally require commercial insurance by definition. There are three (3) different coverages that will be needed: liability, physical damage, and cargo.

  • Liability – Bodily Injury and Property Damage – This means the insurance policy protects the insured if the driver is considered at fault for the accident. Payment is made on behalf of the insured (the company and the driver) to any injured party as a result of this accident. Bodily injury coverage includes payment for related medical expenses, loss of income, and compensation for any pain or suffering. Property damage is also paid for damage to any property as a result of the accident.
  • Physical Damage – This is usually broken down into Collision and Other-Than-Collision. This reimburses the Insured (company) for damage to the vehicle being driven under one of the two coverages. Other-Than-Collision used to be called Comprehensive Coverage and includes incidents related to anything other than a collision, such as fire, theft, hail, etc.
  • Cargo – This is protection that is unique to commercial vehicle policies. It provides protection for the cargo that is being transported by the dump truck. It is very necessary for fleet operations of these trucks as there could otherwise be exclusion or limitation of complete coverage of the cargo under the other available portions of the policy. Most hiring companies require any fleet service dump trucks be protected by Cargo Coverage.

Locating Dump Truck Insurance

Locating insurance for a fleet of dump trucks is more complicated than locating personal vehicle policies. Inquiries can be made of local insurance companies as to whether this type of policy can be obtained through them. More likely, a search of the internet will be required to find companies that handle fleet dump truck protection. It is important to identify which company offers the best dump truck insurance and this is frequently done only by specific insurers.

Look for an insurance company that offers quality services, products and has a good reputation. Apply for quotes and compare the results from one insurance company to the other. Be sure to make an equitable comparison based on the same coverage and same deductible. Be very careful that the specific language and details of each coverage are exactly the same as any variance could greatly affect the price being quoted.

The most important consideration is the quality of the insurance company and the protection that their policies offer. Although some of the language is dictated by each state’s requirements, how coverage is handled once a claim is filed can vary greatly. Any company wants their new dump truck sales purchase to be covered properly by a good insurance policy. Do the leg work and find the best available insurance for the price!