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insurance

Discussion in 'Ask An Owner Operator' started by TEXAS TRUCKER, Sep 25, 2012.

  1. Sep 25, 2012 #1
    TEXAS TRUCKER

    TEXAS TRUCKER Bobtail Member

    37
    1
    Dec 10, 2008
    huntsville tx
    0
    Why is it that that motor carriers are required to have liability and cargo on every tractor? When a most other companies can just have one liabilty policy on the business and that covers all liabilities for said business. I understand the cargo insurance for each vehicle , but i think if you bumped the amount up to say 300,000 that would cover multiple loads of general freight at the same time.
     
    TEXAS TRUCKER, Sep 25, 2012
    TEXAS TRUCKER, Sep 25, 2012
    #1
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  3. Sep 25, 2012 #2
    Oscar the KW

    Oscar the KW Going Tarpless

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    May 19, 2011
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    The same reason if you have more than one car on an insurance policy. Each vehicle must be listed to be covered in the event of an accident.
     
    Oscar the KW, Sep 25, 2012
    Oscar the KW, Sep 25, 2012
    #2
  4. Sep 25, 2012 #3
    BAYOU

    BAYOU Road Train Member

    2,847
    1,592
    Sep 23, 2010
    Beaumont,Tx
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    I'll tell you why on your car at home the more you have the more you save multi car discount and that's because one is your primary car and there not driving 100,000 miles a year with a semi they know it don't make money being parked so there is way more risk in covering it
    I have a buddy that has over a 100 trucks he had to do a line of credit at the bank for a million and he still pays a insurance company $50,000 a year to fill paper work and they hold the million bond
     
    BAYOU, Sep 25, 2012
    BAYOU, Sep 25, 2012
    #3
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