Commercial Truck Insurance Chicago

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Commercial Truck Insurance Chicago

Chicago is one of the largest cities in the United States. Every day, 300,000 vehicles drive on the Dan Ryan Expressway alone. Manufacturing and transportation are two of the biggest industries in The City of Big Shoulders, and each day there are many road accidents.

If you own a commercial trucking company, you want to ensure that your vehicles and drivers are fully insured.
Our trucking insurance agents at Simplex Group will help you find the perfect insurance package for your fleet. We want to make sure your business is a successful one. You need insurance to comply with the law, protect your property, and protect your company from a lawsuit.

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Different Types of Commercial Truck Insurance

The average trucking company will have many different types of insurance policies. A trucker is not only responsible for their rig, but they’re also responsible for all of the cargo inside. They have a greater duty of care than other drivers because of the size of the vehicle they drive and the damage they can cause. Truckers will often rent very expensive equipment. If something happens to it while you’re using it, you’ll have to pay for it. Make sure your rental equipment is covered. Simplex Group has your back every step of the way.

Liability Insurance 

If your drivers ever cross state lines and your vehicle weighs over 10,001 pounds or transports hazardous material that requires placards, you will be expected to obtain a number from the Department of Transportation. You must also comply with all rules set forth by the Federal Motor Carrier’s Safety Administration. 

The FMCSA requires truck drivers to carry between $750,000 and $5,000,000 of insurance, depending on the commodities transported. If you transport non-hazardous material and your vehicle weighs under 10,001 pounds, you must have a minimum of $300,000 worth of insurance.

We recommend getting more insurance than the absolute minimum required by law. Trucking accidents can cost millions of dollars. A good insurance policy will cover the medical bills or funeral expenses of anyone who is injured by your driver. 

Liability insurance will also cover damage done to cars and the road itself. Trucking accidents can cause damage to the environment, and sometimes a state or municipality will request compensation for this type of damage.

If you’re a new small trucking company and one of your drivers has an accident, it can lead to financial ruin if you don’t have enough insurance.

Commercial Truck Insurance Professionals 

Our team of trained trucking professionals is committed to finding you a liability insurance policy that will protect your driver and the general public from anything that may happen without breaking your budget. We know how hard it is for new trucking companies just starting. Safety should always come first, but staying within your budget is very important. 

Cargo Insurance 

If you transport household goods across state lines, the FMCSA requires that you have $5,000 of cargo insurance for each vehicle and $10,000 for every occurrence. As with liability insurance, you’re going to need a lot more coverage than that.

Your clients trust you with their products, and the merchants to whom you’re delivering those products are counting on you as well. If the products are damaged or stolen on the way to them, they will lose profits.

When you create a contract with a new client, there will be a clause specifying the amount of insurance you must have to transport that particular client’s products.

You can make the process simple when you do business with us. We will make sure you have enough cargo insurance to protect yourself no matter what. 

We’ve been in the trucking business for many years, and we know how much semi-truck insurance our clients need to protect the cargo they transport. 

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Reefer Truck Insurance

If you transport frozen goods, you’re going to need reefer truck insurance in case the refrigeration system should fail. You can end up damaging the products themselves and the truck if the power goes on and off without you realizing it. Food can spoil and make people sick. 

Because so many things can go wrong with a reefer truck, it requires special insurance. Transporting frozen goods is lucrative, but it’s important to be fully insured. 

Physical Damage Coverage

Anyone having auto insurance in Chicago can tell you that the roads are especially rough here. There are a lot of potholes in the streets, and when you hit one in an 18-wheeler, it can cause major damage to your rig.

A truck costs thousands of dollars to repair. Accidents are just one of the things that can damage a truck. Poor road conditions, hail, and snow can also damage a rig. If you live in Illinois, you know the weather can be brutal on any vehicle.

Even if an accident is determined to be another driver’s fault, physical damage insurance can help you. If the other driver is uninsured or their insurance company refuses to pay for certain damages, your own insurance can pay for repairs.

Liability insurance will not cover damages to your truck if your driver is at fault. Hence, physical damage insurance is necessary. If one of your trucks is inoperable, you may lose thousands of dollars daily. 

We can help you select a physical damage insurance policy that can pay for any damage done to your truck due to an accident, road conditions, or the weather itself. 

Any good trucking insurance package will have some type of physical damage policy trucking companies need this type of insurance to operate safely.

General Liability Insurance

Every business needs a general liability insurance policy in case someone should injure themselves on the company’s property. General liability insurance will pay for their medical bills and compensate them for any time they need to take off from work.

Call us for Trucking Insurance Package

We want to help your company succeed. Give us a call today for an Illinois truck insurance quote.

Running a trucking company can be fun and exciting. If you take the proper precautions, truck driving can be one of the most lucrative businesses.