Motor carrier insurance should ideally be extended to cover non trucking liability and physical damage insurance. Many carriers independent leased contractors. Multiple options are available for the ‘for-hire’ truck insurance. While the liability insurance is mandated there is always a minimum which varies from one state to the other. However, saving a few hundred dollars on extended coverage could potentially work against your larger interests. Remember that a motor carrier insurance will pay for damages only to the extent of your cover. Therefore, if personal injury and property damage claims arise from an accident and your motor carrier insurance falls short, you could potentially face serious financial challenges.
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