What Florida Truck Insurance Is Compulsory?
November 28, 2022
Florida companies that use vehicles for business purposes are required by law to have commercial vehicle insurance. Whether it is the owner’s company car or a fleet of tractor trailer trucks, commercial auto insurance covers the cost of medical bills and expenses for damages if a business-owned vehicle is involved in an accident. Without the right amounts of liability coverage, any company could face an expensive lawsuit or settlement should the operator of a business vehicle be deemed at fault for a collision.
Do Pickup Trucks Need Commercial Insurance?
A common misnomer is that commercial vehicle insurance only applies to the trucking industry. Although pickup trucks with a standard cab and bed have become popular passengers cars, any vehicle that is used solely for business purposes should be covered under a commercial auto policy.
Personal auto insurance premiums are not written for work use, so your insurance carrier can deny any claims that might occur while using your pickup truck in the course of operating your business.
This does not include driving your pickup truck or car to and from work. Nonetheless, while you may only use your pickup (or personal vehicle) for business purposes once in a while, liability for any work-related accident may not be covered by personal insurance. Plus, withholding business use from your carrier can be deemed as insurance fraud.
Determining Your Policy Coverage Needs
Generally speaking, commercial trucks can be any of a broad range of vehicles commonly used to haul or tow different types of cargo from one place to another. Although liability insurance will protect a company’s assets when a third party is injured or damaged from an accident, there are several insurance options to build a more comprehensive insurance portfolio that might include:
Commercial Auto Insurance – Commercial auto insurance can cover owned vehicles, leased vehicles, rented vehicles as well as vehicles for hire to pay for physical damages and medical expenses for occupants.
Trucking Liability Insurance – Truck liability insurance covers basic trucking risks for which your company or business may be financially responsible, such as property damage and personal injuries to others.
Workers’ Compensation Insurance – Employers who conduct work in the State of Florida are required to provide workers’ compensation insurance for their workers based on number of employees and business type.
Truck Cargo Insurance – Motor truck cargo insurance covers the company’s liability for cargo that is lost, damaged, or stolen while the freight is in transit. Coverage extends the basic claims insurance for the shipment.
Uninsured Motorist Insurance – If a commercial truck is struck by an uninsured or underinsured motor vehicle, UM insurance covers medical expenses to the driver, damage to the vehicle, and even lost wages.
Other optional insurance riders that a company may also consider purchasing are bobtail insurance for tractors used without a trailer, coverage against damage to equipment and materials during loading and unloading, and towing coverage to offset the cost of roadside assistance for company-owned vehicles. Any commercial vehicle originating in Florida that crosses a state line must meet commercial truck minimums set forth by the Federal Carrier Safety Administration (FMCSA) that are similar to state requirements for liability coverage.
Online Insurance Marketplace
Doing business online grew exponentially during the pandemic and most business owners today are taking full advantage of shopping for products and services in the virtual marketplace. Here at Nsurance Nation, we stand ready to help you determine the best options for truck insurance coverage based on who will be driving and how the vehicles will be used for business in Florida and other areas of the country. But, feel free to get quotes and/or secure a policy online; and all without the time-consuming hassle of traditional comparison shopping.
Although Nsurance Nation always provides the option of speaking directly with an agent, you also have the ability to search for insurance products whenever you have the time, even outside normal business hours and seven days a week. To shop for truck insurance online, you only need to share some basic information. For expert guidance in navigating the regulatory process for Florida truck insurance compliance, visit our trucking insurance page and answer a few questions regarding how your vehicles will be used for business or commercial purposes.
