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Types Of Commercial Car Insurance Services
By: amie m. porter
In most parts, if not all countries, truck car insurance policy is a must to all trick drivers. However, requirement for these insurances vary from one State to another. Truck insurance quotes in most States and Countries in the world require that any vehicle to operate on public roads, it is mandatory that they are insured. Only a small percentage of vehicles which include racing vehicle or farm vehicles could be spared by these laws. Failure to comply with this requirement would mean that a truck owner or driver to be faced with either a hefty fine, license disqualification or both. Due to this, there are a number of vehicle insurance policies that truck owners and drivers should have.
There is liability insurance coverage which is a policy that covers any damage caused by a truck as well as all medical expenses for injured victims during an accident. This insurance policy is a minimum requirement for all truck drivers. Another type of commercial truck insurance policy is comprehensive insurance which covers all damages caused to a truck in instances of accidents, theft, natural calamities or vandalism. This policy is the most expensive but very important to truck drivers. Collision insurance is another important insurance policy coverage which ensures that the insured truck owner gets sufficient funds to repair his vehicle in case of an accident. This insurance policy is optional in most States. In addition, there is personal injury protection plan which ensures that passengers and the driver who sustain injuries in during an accident get their medical bills paid by the insurance company that offers truck insurance services.
There are several truck insurance covers for drivers to choose from. These insurance covers include liability, comprehensive, first party; collision and under-insured are easily understandable when you are provided with all facts and statistics.
For liability coverage, truck insurance quotes require absolute minimum coverage. This liability binds an insurer pay only for damages done to other drivers when an accident occurs between you and another driver. This coverage does not require you to pay if the accident is not your fault.
First party insurance is where an insurance company is bound to pay an injured party when an accident occurs and a passenger or a pedestrian is injured as a result.
Insurance companies are supposed to cover for all financial expenses irrespective of the fault. The plan is to cover some basic benefits such as rehabilitation benefits, unlimited medical benefits and any wage loss thus, when a car owner is involved in an accident, all his medical bills are paid off by the insurance company.
Some of the mandatory requirements for truck insurance include; liability for private passenger vehicle, which is a no-fault insurance, proof of financial responsibility and responsibility to maintain all penalties as a result of failures.
Consequently, truck drivers who fail to meet standards set for auto insurance coverage face penalties which include license suspension, cancellation of registration, inability to replace or renew vehicle registration and jail term. Drivers are also supposed to carry with them proof of insurance cover or else they will pay hefty fines as a result.(read
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