If you’re in the trucking industry, you’re likely familiar with the term “flatbed.” Flatbed trucks are an essential part of the transportation of goods, especially for bulky, oversized, or oddly shaped cargo.
But what is flatbed insurance, and why do you need it? In this article, we will explore what flatbed insurance is, its benefits, and the types of coverage that are available to trucking companies.
Here are all the things that you need to know about this type of insurance:
Understanding Flatbed Insurance
Flatbed insurance is a type of commercial trucking insurance that provides coverage specifically for flatbed trucks. It covers the truck itself, as well as the cargo being transported on the flatbed. This insurance is crucial for any trucking company that uses flatbed trucks, as it protects them from the financial damages that can result from accidents, theft, or damage to the cargo.
Benefits of Flatbed Insurance
One of the primary benefits of flatbed insurance is that it provides peace of mind to trucking companies. With flatbed insurance, they know that they are protected in the event of any mishap or accident that may occur during transport. In addition, flatbed insurance can provide coverage for a variety of situations, such as cargo theft, damage, or loss. This can be especially important for companies that transport high-value or fragile cargo.
Types of Flatbed Insurance Coverage
There are several types of flatbed insurance coverage that are available to trucking companies. The most common types include liability insurance, cargo insurance, physical damage insurance, and bobtail insurance. Liability insurance provides coverage for any damages or injuries that may occur as a result of an accident involving the flatbed truck. Cargo insurance covers the value of the cargo being transported. Physical damage insurance provides coverage for any damage that occurs to the flatbed truck itself, while bobtail insurance provides coverage for the truck when it is being driven without a trailer attached.
Coverage Provided by Flatbed Insurance
Flatbed insurance provides comprehensive coverage for trucking companies, including liability insurance, cargo insurance, physical damage insurance, and bobtail insurance. Liability insurance covers damages resulting from an accident caused by the flatbed truck, while cargo insurance protects the cargo being transported. Physical damage insurance provides protection for the flatbed truck itself, and bobtail insurance covers the truck when it’s driven without a trailer attached. With the right flatbed insurance policy, trucking companies can have peace of mind knowing they are protected from financial losses resulting from accidents, theft, or damage.
Flatbed insurance is an essential component of any trucking company that utilizes flatbed trucks. It provides peace of mind and financial protection in the event of any accidents, theft, or damage that may occur during transport. By understanding the types of coverage that are available, trucking companies can ensure that they have the right insurance to meet their needs and protect their business.