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MOST REQUESTED COVERAGE’S
Auto Liability, Motor Truck Cargo Coverage, Commercial General Liability, Medical Payments, Uninsured Motorist, Underinsured Motorist
Personal Injury Protection (PIP), Owned Auto, Non-Owned Auto, Hired Auto, Collision Coverage, Comprehensive Coverage and Trailer Interchange
Iowa truck insurance is a must for commercial truckers who plan to travel in and through the state. Iowa’s Commercial Vehicle Enforcement division of the Department of Transportation sets and enforces rules for truck insurance. These regulations are designed to ensure that commercial vehicles, such as semi-trucks, tractor-trailers, and large freight do not cause an unacceptable level of risk on public highways. In Iowa, there are several types of required coverage that truckers must carry in order to be in compliance with all legal requirements.
Personal Auto Liability Coverage
Personal auto liability coverage is a type of liability insurance designed to provide coverage for bodily injury or property damage caused by an accident involving a commercial vehicle. The coverage typically provided under this type of policy includes medical costs and lost wages for injured parties, legal fees, and any necessary repairs for damaged property. It does not, however, provide coverage for the damage caused to the motor vehicle itself; this type of coverage is typically provided under collision coverage.
Liability limits on personal auto liability policies typically range from $100,000/$300,000 up to $1 million/$2 million or higher in some cases. The first number represents the maximum amount that can be paid out per person injured in an accident and the second represents the maximum amount that will be paid out in total for any accident involving multiple injured persons.
Motor Truck Cargo Insurance
Motor truck cargo insurance is designed to provide coverage for damages incurred when goods being transported in a commercial vehicle are damaged or destroyed. This type of insurance can cover any losses that occur due to theft, vandalism, or other causes. Generally speaking, most motor truck cargo policies have a limit of $100,000 or higher depending on type of goods being transported.
Physical Damage Coverage
Physical damage coverage is a type of insurance that provides coverage for physical damage caused to the vehicle itself as a result of an accident, vandalism, fire, or theft. This type of coverage is typically required by loan providers and may also be mandated by lease providers; therefore, it’s important for owners to make sure they are carrying adequate physical damage coverage at all times. The minimum limit for physical damage coverage in Iowa is $25,000 but can often be increased depending on the value of the vehicle being insured.
Uninsured Motorist Coverage
In the event that an accident occurs in which the other driver involved is uninsured or underinsured, uninsured motorist coverage can help provide financial protection against related costs. This type of policy provides coverage for medical bills, lost wages, pain and suffering, property damage, funeral costs and other official expenses related to an accident caused by an uninsured or underinsured motorist. The minimum limits required in Iowa are set at $25,000 per person and $50,000 per accident. However, these limits may be increased depending on the individual’s personal needs and situation.
Motor Carrier Liability Insurance
Motor carrier liability insurance is a type of commercial auto policy specifically designed for those operating large commercial vehicles such as semi-trucks and tractors trailers. It provides protection from third party lawsuit claims arising from accidents involving the insured motor carrier’s vehicles. Limits typically start at $250,000 per occurrence and can go up to $1 million or more depending on individual needs and situation. This type of policy is typically required by state and federal laws as well as by most leasing companies and loan providers.
Occupational Accident Insurance
Occupational accident insurance provides protection for drivers if they are injured while on-the-job. This type of policy can provide coverage for medical bills, rehabilitation costs, loss of wages and more resulting from work-related injuries sustained while behind the wheel of a commercial vehicle. Most motor carriers require this type of policy but some states may impose additional requirements so it’s important to check with your state-specific regulations to determine what is required in Iowa.
Trailer Interchange Coverage
Trailer interchange coverage provides protection from physical damage or loss occurring during trailer exchange at shipper facilities or other locations where trailer exchange may occur. This type of policy typically covers losses due to theft or vandalism as well as damages caused by another party during trailer interchange when you don’t have possession of the trailer.
Medical Benefits Coverage
Medical benefits coverage provides reimbursement for certain medical expenses incurred as a result of an accident while operating or riding in a commercial vehicle. This type of policy usually covers medical bills related to broken bones, hospitalization expenses, doctor visits and other related medical costs regardless of whether or not fault can be determined in the accident. Limits typically range from $10,000 to $25,000 but may be higher depending on individual needs and situation.
Non-Trucking Liability Insurance
Non-trucking liability insurance provides coverage for damages incurred while using a commercial vehicle outside of its intended use on behalf of an employer (i.e., personal errands). It also provides coverage for liability claim expenses resulting from an accident when you’re not actually “engaged in business” (such as when you’re running errands for your own personal purposes). This type of policy typically has limits ranging from $100 thousand up to $1 million depending on individual needs and situation.
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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.
We can easily insure the following Iowa business types. >Click here to get your free Iowa Big Rig Truck Insurance Quote<
CEMENT CONTRACTING – COAL HAULING – CONSTRUCTION – COURIER SERVICE – COURTESY PASSENGER TRANSPORT – DEBRIS REMOVAL – DEMOLITION – DIRT, SAND & GRAVEL – ELECTRICIANS – EXPEDITERS – FARMING – FIREWOOD HAULING – BULK FLORIST Refrigerated DELIVERY – FOR-HIRE TRUCKING – FROZEN FOODS TRANSPORT – FURNITURE DELIVERY – GARBAGE COLLECTION – HAZARDOUS MATERIALS HAULING – HOTEL SHUTTLES – HOTSHOT TRANSPORT – ICE CREAM VENDOR – IMPOUND LOT – INTERIOR DECORATING – INDEPENDENT TRUCKING – LANDSCAPING – LEASED-ON BIG RIG TRUCKING – LINEN SUPPLY – LOGGING – LONG-HAUL TRUCKING – MOTORCYCLE DEALERSHIP – OWNER-OPERATOR – PIANO MOVING – PLUMBING – ROCK QUARRY HAULING – RECYCLING SERVICES – REFRIGERATED GOODS TRANSPORT – RETAIL FOOD MARKET – ROOFING – SHOPPING MALL DELIVERIES – SNOW PLOWING – TOW OPERATION – TREE SERVICE – WIDE LOAD HAULER – WRECKER SERVICES and much more.
Conclusion
Iowa truckers must obtain adequate insurance that meets or exceeds all state and federal regulations regarding commercial vehicles before they hit the road. A wide range of coverages are available depending on individual needs and situation; liability coverages (personal auto liability, motor truck cargo & motor carrier liability) are considered must-haves while physical damage & non-trucking liability coverages are recommended additions based upon individual preference/needs. It’s important to review all available options carefully before purchasing any policies – including obtaining multiple quotes with various companies – so you have all the information necessary to make an informed decision regarding your overall protection plan and budget needs going forward.