The commercial trucking industry is an important part of Colorado’s economy. According to the Colorado Department of Transportation, there are over 13,100 trucking companies located in Colorado that provide over 110,200 jobs to residents. Almost 80% of Colorado communities--including Denver--depend exclusively on trucks to transport the goods sold in grocery stores and supermarkets. Whether you own an established business or you are looking to open a new trucking company in Denver, our insurance specialists can help you understand which policy is most suitable for your situation.
What is Trucking Insurance?
Commercial trucking insurance in Denver is a specific grouping of auto insurance policies that provide coverage for trucking operators. Basic policies come with primary liability coverage and more coverage can be added based on the size and classification of your business. To obtain and maintain a trucking license in Denver, primary liability truck insurance is typically required. Primary liability insurance protects property and residents from damage that may come from a truck in your fleet.
HUB International has two locations in Denver to accommodate the needs of business owners. Our main office is located on Colorado Boulevard and our other office is conveniently located just one quarter mile north of the 1-70 on 46th Ave. We offer insurance options for all types of Denver businesses including commercial companies, transportation companies and independent drivers.
Types of Trucking Insurance for Denver, CO Businesses
If you use your vehicle for both professional and personal use, a commercial insurance trucking policy can provide you with the coverage your personal insurance neglects. However, companies that have larger fleets need commercial trucking insurance in Denver to protect their trucks and the materials they transport. Common insurance coverage options include:
- Primary auto liability: Federal regulations require this type of trucking insurance in Denver coverage for anyone who drives a commercial vehicle. Every truck, including leased vehicles, must carry primary auto liability. Primary liability protects in the event a third party becomes injured in an accident.
- General liability: Colorado law requires trucking companies to carry general liability coverage. This type of protection is a necessity if one of your drivers causes a crash that results in property or bodily damage to a third party. This type of insurance offers coverage if the crash takes place on a third party’s property such as a loading dock or a truck stop.
- Physical damage: This is an important type of insurance to carry as it provides coverage for many unforeseen events including vandalism, collision, theft and natural disasters. Physical damage insurance will cover the cost of repairs or replace the vehicle if it is damaged beyond repair.
- Bobtail coverage: Also referred to as non-trucking liability, bobtail insurance provides coverage in case a driver is involved in a crash when driving the truck for personal reasons. Bobtail coverage is a good option for companies that allow drivers to operate trucks when they are not on duty. The premiums may be high, be it is worth the cost if you own expensive trucks or equipment.
Our brokers can help you decide which type of trucking insurance in Denver is right for your situation. We can help you reduce risk while maximizing profitability.