You may already know by now that it is crucial for you to have insurance for your truck in Los Angeles as well as a truck accident attorney. It is a state requirement and operating without these two puts your employees and business at risk.
If you are worried about how to go about finding a truck insurance provider, worry no more. Here are a few tips to help you get started.
1. Determine what kind of coverage you will receive.
Insurance companies may offer the same products, but they operate totally in different ways. This is why you need to ask the agent what the policy covers and what it doesn’t.
For the agent to help you select the best cover for you, you will have to be totally open and honest about the nature of your business. You also need to tell your agent where your business is headed (future business plans) and especially if plans are underway.
Some of the most popular coverage among truck insurance providers include the following: medical payments, loading and unloading liability, bodily harm and property damage liability, towing and labor costs, comprehensive and collision coverage for damages done to your truck and, finally, non-owned or hired auto coverage just in case you ever need to rent a truck.
2. Determine the payment options available.
Your company’s financial muscle will determine for the bigger part how much you can pay and how. You can choose your premiums in installment or one-off. Of course, the cheapest and most convenient is to a lump sum for the whole year.
Most insurance providers will give you a discount for lump sum payments. You can also choose to pay bi-annually or even quarterly. The choice is yours. Talk to your agent and get to know what flexible options are available and the benefit of each so that you can get the best deal.
3. Get to know how each claims coverage works.
Well, this is the trickiest bit about insurance providers — filing claims. In case of an accident, you, of course, need your truck back on the road so that your business operations do not come to a halt.
Because the more it stays away, the more your business is losing out on revenue. Find out what and how the process is. Check whether you can start the claims process online or via a phone app.
4. Find out what your limits are for general liability.
Another very important consideration when buying truck insurance is your general liability limit. And to be more specific, your aggregate limit and occurrence limit.
The aggregate limit is the full amount that you will have to pay for all the claims made in one year. Occurrence limit, on the other hand, is the amount you will need to pay to make a single claim.
It might take a bit of back and forth with several truck insurance providers and a lot of research on your part. So, be patient with the process so that you get the best provider with the best policy.