Tanker trucks are heavy duty vehicles used for transportation of bulk cargo, liquids and gases. They can be used for many types of cargo, starting with liquids like milk and ending with hazmat. While tanker trucks can generate great income to their owners, it is important to protect them with tanker insurance. Such trucks are not easy to drive because of their high center of gravity. Tanker truck can do extensive damage in an accident, which can lead to costly lawsuits. It is also an expensive vehicle, and repairing or replacing it might become a huge financial burden. That’s why it is so crucial to get reliable coverage for your tanker truck.
As any commercial auto insurance, your tanker truck coverage starts with liability insurance. It is important to carry enough of this coverage for your truck, as liability insurance will pay for the damage and injuries of other people if you are at fault. It will also cover your legal expenses if you are sued as a result of such an accident. Additionally, it is also a good idea to get umbrella insurance, because multi-million lawsuits are not rare when it comes to tanker trucks.
To make sure your truck’s repair or replacement is covered, you should also get physical damage insurance. It consists of two types of coverage. The first one is collision insurance that will pay if your truck has been in a crash, collided with another object or overturned. The second coverage is comprehensive insurance, which will pay for the damage from non-collision incidents.