Tractor-trailers are some of the heaviest and longest trucks on roadways, and Massachusetts businesses must consider the corresponding risks that come with this equipment. To help mitigate potential risks, businesses can get semi truck insurance.
Businesses that operate big rigs need big insurance. Semi truck insurance gives them access to the coverages and limits tractor-trailers require.
Massachusetts state law generally requires insurance for trucks that are driven on the state’s roadways. Any business operating semis in the state usually needs tractor-trailer insurance.
In addition to state minimum requirements, federal law typically requires motor truck cargo coverage of at least $5,000 or $10,000 if trucks are driven across state lines. Lenders may have their own physical damage coverage requirements if trucks are financed or leased.
Since semis are used by businesses in many industries, these policies are purchased by a variety of businesses. Some examples include:
There are still many other examples of businesses that may need this type of truck insurance.
Tractor-trailers generally need multiple insurance coverages, which may be standard or optional features in semi policies. Some important coverages to consider are:
Semi policies can cover hazardous materials that are being transported, but not all policies will offer protection for this cargo. Those that do may require specific endorsements.
Businesses that need coverage for hazmat cargo should work with an insurance agent specializing in semi policies, who can assist with finding the right protection.
The size and weight of tractor-trailers can make any accident their in especially severe, and that risk only increases when on highways where pile-ups can occur.
Because of the value of these trucks, value of their cargo, and damages and injuries they can cause, businesses often get fairly high limits when selecting a semi policy. A knowledgeable insurance agent can advise businesses on what limits might make sense for their particular tractor-trailers.
The cost of insuring a tractor-trailer varies substantially. Some details that can impact cost are:
To find out how much insuring a truck or fleet will cost, businesses can compare custom quotes with an independent insurance agent. Independent agents are able to obtain quotes from several insurance companies.
If you need help insuring a tractor-trailer that’s registered in Massachusetts, reach out to the independent insurance agents at Paul T. Murphy Insurance. We’ve helped many businesses find the commercial vehicle insurance, including semi truck insurance, they need. We’ll make sure your equipment is protected well.
.png?width=145&height=64&name=Arbella_Insurance_Logo%20(1).png)
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.
Website Built & Powered by Jump Suit Group