Truck driver insurance is a form of vehicle insurance which covers commercial truck drivers. There are a number of different types of insurance policies available for commercial trucks and their drivers. It is advisable to consult an insurance expert to determine what kind of coverage is legally required, what type of coverage is advised, and what types of policies will work best for specific drivers and companies. While the premiums for truck driver insurance can be costly, knowing that the insurance will handle the cost of a single accident, incident, or liability issue more than makes up for it.
Insurance for the driver is typically legally required. Truck driver insurance covers legal liability which may occur as a result of activities on the road, whether or not incidents are the fault of the driver. This type of insurance is usually required by law to ensure that damages will be paid in the event of an incident, and it covers the driver specifically. Rates for this type of truck driver insurance vary depending on the driver's level of experience, driving history, and areas of operation.
It is also possible to insure the truck, separately from the driver. Insurance on the equipment covers theft, damage, and other forms of loss, and is often strongly recommended, because commercial trucks can be very expensive to replace. For owner-operators, it is often possible to buy a bundled policy which provides truck driver insurance and insurance on the truck itself.
Other truck driver insurance covers loads. Most insurance policies do not automatically cover the load, because replacing a damaged, stolen, or lost load can be quite costly. Insurance policies which will cover the loads hauled in the truck can again be costly, but well worth the expense. Without such coverage, a trucking company could be liable for a very valuable load which it might have trouble replacing, and loss of a big enough load could even be enough to put a small company out of business.
Insurance products for truck drivers and commercial trucks are specialty insurance products, and may not be available from all companies. It is a good idea to get several quotes for the purpose of making side by side comparisons of various policies and plans available. A reputable insurance company will often refer drivers if it feels that another company can provide better coverage, and an insurance company may also be willing to match a price offer from another company if customers express a desire to use their services, but reluctance to pay higher premiums.