Truck on the PlainsTruck drivers face a plethora of risks while driving on Canadian roadways. They could hit a guard rail and roll their vehicle, or they could collide with one of the thousands of other vehicles they share the road with during a route. The constant risk of getting into an accident causes many owner-operators to scale their business back by driving less so that they won't be sued. Fortunately, by adding additional insurance, truck drivers can expand their business with peace of mind.

What is Umbrella Insurance?

Umbrella insurance is additional liability coverage that goes above and beyond the existing coverage limits of trucking insurance. With additional coverage, truck drivers may not be personally responsible for covering the costs of an accident. The extra coverage helps many truck drivers feel confident about taking on more work or hiring additional contractors to run some of their routes. Drivers should purchase umbrella insurance in the following situations:
  • Drivers need additional coverage beyond the limits of their policy
  • Drivers are financially responsible for their loads
  • Owners are driving as a team
Anytime there is a potential financial risk, truck drivers should take the necessary steps to secure an umbrella policy.

Why Isn't One Insurance Policy Enough?

Typically, truck drivers have one insurance policy, which may help cover them if they aren't involved in an accident with significant costs. However, all too often, truck drivers are involved in accidents that have high settlements; this is the case because the large size of trucks often leads to them to cause a significant amount of damage in a wreck. When truck drivers have extra liability coverage, they increase their chances of bouncing back from an at-fault accident that could have otherwise been financially crippling to their business.

Types Of Protections Offered By Umbrella Insurance

Though it is evident that umbrella insurance is additional liability coverage, there are some situations where umbrella insurance may be considered primary insurance coverage for some truck drivers. For instance, some truck drivers are financially responsible for their loads; therefore, damage to their loads may be covered under an umbrella insurance policy.

Traveling across Canada can be risky for truck drivers. But drivers can take measures to decrease their chances of being financially responsible for accidents by including adding umbrella coverage to their trucking insurance policy.

Do you have enough protection? Call Heritage Insurance Ltd. at (800) 667-7640 for more information on Moose Jaw trucking insurance.
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