Are garbage trucks an important part of your business? Insurance plays a critical role in owning and maintaining garbage trucks, and knowing what type of insurance is best for you can be difficult. Whether you operate Rear Loaders, Front Loaders, or even Vacuum Trucks, garbage truck insurance will safeguard you from facing exorbitant repair and damage costs following a collision or other hazard. This article will break down insurance for garbage trucks to make it easier to understand.
Types of Garbage Truck Insurance:
Liability insurance is the most basic form of garbage truck insurance. It is required by law in most states. Liability insurance covers the other person’s expenses if you cause the accident while driving your truck. Bodily injury and property damage insurance both fall under the umbrella of liability insurance. Bodily injury insurance covers the costs of the injuries of those involved in the accident, which can include lost wages. Property damage insurance covers other vehicles involved in the accident as well as replacing the vehicle if it is totaled.
Medical Payments Insurance
Medical payments insurance covers the medical bills and associated expenses of your driver and any passengers. Additionally, medical payments insurance is a no-fault insurance option, meaning it covers the medical expenses of your driver regardless of who was at fault for the accident.
Physical Damages Insurance
Physical damage insurance covers the costs of repairs, or replacement, of your garbage truck in the case of a collision or rollover. Comprehensive physical damage protection, collision damage protection, and specified peril (CAC) insurance all fall under physical damage insurance. Comprehensive physical damage protection insurance protects against storm damage, falling tree limbs, and other non-collision related hazards. Collision damage protection insurance is specific to damages related to collisions and rollovers. Specified peril insurance protects your garbage trucks from fire, theft, and other combined additional coverage options (must be pre-specified when acquiring insurance).
- Uninsured/Underinsured Insurance
- Uninsured/underinsured motorist insurance, which acts just like liability insurance, but keeps you from paying when the other driver is at fault.
- In addition to these four broad categories of garbage truck insurance there is also Rental, Towing, Trailer Interchange, and Accessories Insurance.
Garbage Truck Insurance Companies
Once you know what type of insurance coverage to get for your garbage trucks, you need to choose the right insurance company. Garbage truck insurance can range from $2500 to $8000 for a single truck, so it is important to choose a company that provides the best coverage at the most affordable cost. Finding the right garbage truck insurance company involves many different factors and will vary depending on your company. There are many great resources available for simplifying this process, but we recommend this article from our friends over at Garbage Truck Insurance HQ, which provides a comprehensive list of garbage truck insurance companies as well as a tool for getting insurance quotes based on your company’s specifications.