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MOST REQUESTED COVERAGE’S
Motor Truck Cargo Coverage
Commercial General Liability
Personal Injury Protection (PIP)
Arizona Commercial Truck Insurance is a form of insurance that helps to protect motor carriers and trucking businesses in the state of Arizona. It is designed to protect the business, its associated vehicles, and any cargo or personnel that is transported by commercial trucks. Without this type of insurance, many motor carriers could find themselves facing catastrophic losses – including expensive damages, costs associated with stolen cargo, property losses, and even legal costs if an accident occurs. The purpose of this document is to provide an overview of Arizona commercial truck insurance and the necessary requirements for maintaining such a policy.
Arizona Commercial Truck insurance is an insurance policy that provides protection for trucking businesses and motor carriers in Arizona. It is designed to cover a wide range of potential risks associated with operating a commercial truck in Arizona – from property damage and theft to injury or death that may occur as a result of an accident. The scope of coverage can provide for claims arising from the operation of a commercial truck against a third party, as well as for damages arising from the loading and unloading of cargo, or occurance of hazardous material spills.
Types of Coverage
There are several types of Commercial Truck Insurance coverage that motor carriers in Arizona can purchase. These include Bodily Injury Liability (BIL), Property Damage Liability (PDL), Cargo Insurance, Physical Damage Coverage, Uninsured and Underinsured Motorist Coverage (UIM/UM), Hired Auto Liability (HAL), Non-Trucking Liability (NTL), and Environmental Liability Insurance (ELI) coverage.
Bodily Injury Liability (BIL): This coverage protects against physical injury resulting in death, disability, or any other financial losses suffered by a third party due to the operation of a commercial truck by the insured. The claim would be paid by the carrier’s liability insurer.
Property Damage Liability (PDL): This coverage protects against damage to property caused by the insured’s operation of a commercial truck in Arizona. The claim would be paid by the carrier’s liability insurer.
Cargo Insurance: This coverage protects against damage, loss, or theft of cargo that may occur while in transit. It covers all types of cargo carried in any type of motor vehicle – including trucks, trailers, and vans. This coverage typically extends to cover items that are stored in cargo containers located on or near the vehicle.
Physical Damage Coverage: This coverage protects against damage to the insured’s own vehicle caused by collision, fire, theft, windstorm, flood, etc. The policy typically includes Comprehensive and Collision coverage which can be tailored to fit the needs of the business. Typical optional coverages include Accessory Coverage and Towing & Labor Cost coverage.
Uninsured and Underinsured Motorist Coverage (UIM/UM): This coverage protects against losses resulting from an accident involving an uninsured or underinsured motorist (drivers who do not carry enough Bodily Injury Liability limits). The claim would be paid by the insurer.
Hired Auto Liability (HAL): This coverage protects against the damage or injury resulting from an accident involving an auto rented, leased or borrowed by the insured while operating the commercial truck. The claim would be paid by the insurer.
Non-Trucking Liability (NTL): This coverage protects against liabilities resulting from using vehicles other than those used in operations such as pickups, service vehicles and private passenger cars. Generally speaking, NTL will not respond when a pickup is being used while contracted to move someone else’s freight. The claim would be paid by the insurer.
Environmental Liability Insurance (ELI) coverage: This coverage provides protection for environmental damage caused by accidents involving a commercial truck. This includes cleanup costs related to hazardous materials spills and other environmental losses. The policy will cover the costs of compliance with regulatory orders when cleanup efforts must be implemented as a result of such environmental losses. The claim would be paid by the insurer.
Requirements for Obtaining Coverage
In order to obtain an Arizona Commercial Truck Insurance policy, there are certain requirements that must be met by the insured motor carriers. First, all covered vehicles must have valid registration in the state of Arizona. Second, all drivers must have valid commercial driver’s licenses (CDLs) and comply with regulations regarding minimum liability limits as established by Arizona law. Third, all trucks must pass safety inspections conducted by qualified personnel at least once every twelve months prior to policy renewal date. Finally, motor carriers must demonstrate that they have sufficient financial resources available to pay for damages that may occur as a result of their operations in order to obtain adequate coverage.
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Arizona Commercial Truck insurance is widely available and can be purchased from most major insurance carriers as well as from more specialized providers who specialize in risk management solutions for motor carriers and trucking businesses in Arizona. In terms of cost, premiums can vary significantly depending on the type of coverage selected and factors such as driving experience, type of vehicle used for operations, route traveled, age and condition of vehicle(s), etc. Generally speaking, policies provide coverage for bodily injury up to $500~$1 million per incident, property damage up to $250~$500 thousand per incident based on limits chosen at time policy was purchased, cargo insurance up to $100 thousand per shipment depending on limit selected at time policy was purchased, uninsured / underinsured motorist coverage up to $1 million per incident, hired auto liability up to $1 million per incident depending upon limits purchased at time policy was purchased, non-trucking liability up to $100 thousand per incident depending upon limits purchased at time policy was purchased and environmental liability up to $1 million per incident depending upon limits purchased at time policy was purchased.
Below are the classifications of commercial big rig trucking policies.
• Symbol 1 – Any auto, don’t have to schedule them. Covers any auto as long
as the insured is using it. (This is rare nowadays especially for Big Rig Trucks))
• Symbol 2 – Any owned auto. Covers only autos that the insured owns.
Includes autos you acquire ownership of after the policy begins.
• Symbol 3 – Owned private passengers autos only. Covers private passenger
autos. Includes autos you acquire after the policy begins.
• Symbol 4 – Owned autos other than private passenger autos only. Covers only
those autos you own that are not private passenger and for liability for trailers
you don’t own while attached to power units you own. Includes those autos
not of the private passenger type you acquire after the policy begins.
• Symbol 5 – Owned autos. Subject to No Fault State.
• Symbol 6 – Owned autos. Subject to Compulsory Uninsured Motorist Law.
Form you attach when the state requires and insured can not reject uninsured
motorist coverage. It includes autos you acquire during the policy period after
the policy begins.
• Symbol 7 – Specifically described autos. Covers only described autos.
Coverage follows power unit. Non owned trailers have liability with this form. (Most common for Big Rig, Box Trucks and other For-Hire operations)
• Symbol 8 – Hired Auto Only. Covers auto you lease, hire, rent or borrow.
This does not include any auto you lease, hire, rent or borrow from any of your
employees, partners or members, etc.
• Symbol 9 – Non-Owned Autos Only – Coverage auto you do not own, lease,
hire, rent or borrow that are used in connection with your business. Includes
auto owned by your employees, partners, members, etc.
Arizona Commercial Truck Insurance is an essential component of any successful motor carrier or trucking business in Arizona. It provides much-needed peace of mind that your business is properly protected against potential risks associated with operating commercial vehicles in general – as well as special risks associated with operating in the state due to its unique geographical features. While no one intends for accidents or disasters to occur – obtaining this form of insurance ensures that you are prepared should an unexpected event take place. Knowing you have adequate protection can give you the confidence you need to focus on what matters most – managing your business!