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The trucking industry is one of the most heavily regulated industries in the country. It is so highly regulated because of the country’s dependence on the products being delivered and the danger involved in driving a large vehicle on the highways and byways of the United States.
Simplex Group is committed to providing our clients with the best insurance coverage possible. We know the regulations of the Federal Motor Carrier Safety Administration backward and forward. We will make sure that you are fully covered for anything that may come your way.
Before you fill out our contact form, it is a good idea to familiarize yourself with the types of insurance that you will need to run a small trucking company in Elizabeth, New Jersey.
If you operate vehicles that carry hazardous waste in an amount that requires placarding or vehicles that are over 10,000 pounds and cross state lines, the FMCSA requires you to carry between $750,000 and $5,000,000 of liability coverage, depending on the type of cargo you carry. You must have $300,000 of insurance for non-hazardous freight if the vehicle weighs under 10,000 pounds.
Liability insurance will pay for the medical bills of anyone who is injured in an accident that one of your driver’s causes. It will also pay for repairs to their vehicles. It will pay to clean up any cargo that has spilled onto the road. It will cover any damage to the environment caused by an accident. The insurance company will also pay for any structures that are damaged in the area of the accident when it occurs.
The state of New Jersey imposes its own rules on intrastate state truck drivers. If you never cross the state lines, you will need to have $300,000 of commercial truck insurance for liability to transport household goods, $750,000 to transport general freight, $1,000,000 for oil transport, $5,000,000 to transport hazmat materials, and $300,000 for household goods.
The reason you are in business is to transport your clients’ products from one place to another. They are counting on you to get their cargo there on time and in one piece.
The FMCSA requires that moving companies have cargo insurance of $5,000 for each vehicle and $10,000 for each accident. They do not impose a minimum requirement of any kind on truck drivers who carry freight. However, your clients will insist that you have cargo insurance before they trust you with their products. The contract that you make with your clients will specify an exact amount. You will always be expected to cover the wholesale value of their products. In many cases, they may ask you to cover more than that.
Your clients have clients of their own. There are retailers who are expecting to have their products and stores. There are customers who want to use those products. If you are transporting medicine, there are some customers who desperately need the cargo.
Cargo insurance will cover any products that are damaged during an accident. It will cover any products that are stolen or lost along the trip. Drivers are human, and they sometimes leave their packages at the wrong address. They occasionally forget to secure the load to the back of their truck.
Simplex Group understands the importance of protecting your cargo. We will make sure that you have enough coverage to reimburse your clients for their products if the worst should happen. Our New Jersey insurance representatives can help you get the perfect cargo insurance policy.
If one of your drivers causes an accident, your liability insurance will pay for the medical bills and automobile repairs of any one of your drivers injures. However, it will not pay for repairs to your own truck. You must have physical damage insurance to cover these kinds of repairs.
Your trucks are worth thousands of dollars each. It is very important to make sure they are covered in the event of an accident or damage from the road or weather. If your vehicles are financed, the financing company is sure to require you to have this coverage.
If you have financing from a bank or if you have private investors, they will want you to have physical damage coverage as well.
Simplex Group will make sure that all of the vehicles in your fleet have enough coverage to repair or replace them if they are damaged.
All companies need some type of general insurance policy to protect people who visit their facility. Your drivers and mechanics may be covered by their workers’ compensation insurance. However, if somebody slips and falls when they visit your business, you may have to pay their medical bills.
Your garage is a busy place with lots of things going on. A general insurance policy will cover anyone who injures themselves on your property.
If you are an owner-operator, you probably take your truck home even when you are not on the clock. Your liability insurance will not cover you if you have an accident when you are not officially working. Hence, you need yet another type of insurance to cover you if you have an accident during off hours, you will need a non-trucking liability insurance policy.
If you are the owner of a trucking company and you allow your truck drivers to take their vehicles home with them at night, you will need to get this important type of insurance.
When you shop for trucking insurance, you could always go to an ordinary insurance company. However, they would not have the years of experience that the trucking experts at Simplex Group do.
We are committed to the small trucking companies with whom we work. We offer truck insurance designed to protect commercial truck companies without breaking their budget. We can find the right coverage for your insurance needs.
When you work with us, you will have an insurance agent dedicated to your account. Give us a call today.